Financial Aid Loan Information...
| Federal Student Loans | Federal Parent Plus Loans |
| Federal Graduate Plus Loans | Perkins Loans |
Student Federal Direct Loans
As a first time Federal Direct Loan borrower or a new student at ISU receiving Federal Direct Loans, you must complete two documents to receive loans:
- Loan Entrance Counseling (Use your Social Security Number to complete)
- and the Master Promissory Notes (Requires your Federal PIN)
This requirement applies only to first time loan borrowers at ISU. If you have previously borrowed a loan at ISU, you do not need to complete entrance counseling again. To ensure that you understand this responsibility and the obligation you are assuming when borrowing student loans, the federal government requires you to participate in Loan Entrance Counseling before your loan funds will be disbursed. During entrance counseling, you will receive fact about your loan, managing your educational expenses, and your rights and responsibilities as a borrower.
You must complete your Loan Entrance Counseling On-Line . Use your Social Security Number to complete counseling. Do NOT use your FAFSA PIN. We recommend you print and retain a copy of the confirmation page, until our office has receive confirmation from the Direct Loan Servicer.
The Master Promissory Note is the legal document you must sign agreeing to pay back your loan. You can complete and sign a Federal Stafford Loan Master Promissory Note (MPN) electronically using your federal Personal Identification Number (PIN). When you apply for financial aid, you were mailed a PIN by the federal aid processor. If you do not know your PIN, you may obtain your PIN data at the U.S. Department of Education PIN site.
In order to complete and sign your on-line MPN, you will need the following information:
- Social Security Number
- PIN
- Driver's license number if applicable
- Email address if applicable. If you want to receive a confirmation email, an email address must be supplied.
- Your complete address including street or post office box, city, state, zip code and phone number.
- Two separate references with different U.S. addresses. This first reference should be a parent (if living) or legal guardian. You will need their name, address, city, state, zip code and phone number. Business addresses will not be accepted.
If you have any question or wish to have your application mailed to you in paper form, please contact the Financial Aid Office at 208-282-2756.
Federal Graduate Plus Loans
This Federal loan is available to graduate students who have been offered maximum Stafford loan amounts yet still have unmet costs. As a graduate PLUS Loan borrower, you will be subject to a credit check to determine creditworthiness.
If you would like to apply for a Federal Graduate PLUS Loan, three items need to be completed.
- Submit Graduate PLUS Loan Application for loan pre-approval.
The Graduate PLUS Loan Application process will access your credit history to determine whether your loan will be approved or denied. If the loan is approved, you may need to complete steps 2 and 3 below.
- Graduate PLUS Entrance Counseling
This requirement applies only to first time Graduate PLUS borrowers for PLUS loans disbursed after July 1, 2008. If you have previously borrowed a Graduate PLUS loan at ISU, you do not need to complete entrance counseling.
- Graduate PLUS Master Promissory Note (MPN) required for the first time Graduate PLUS Loan borrowers at ISU, is the legal document you must sign agreeing to pay back your loan. You may now complete and sign a Federal Graduate PLUS Loan (MPN) electronically using your federal Personal Identification Number (PIN). To obtain a PIN, visit the U.S. Department of Education PIN site.
In order to complete and sign your on-line MPN, you will need the following information:
- Social Security Number
- Government PIN
- Driver's license number if applicable
- Email address if applicable. If you want to receive a confirmation email, an email address must be supplied.
- Your complete address including street or post office box, city, state, zip code and phone number.
- Two separate references with different U.S. addresses. This first reference should be a parent (if living) or legal guardian. You will need their name, address, city, state, zip code and phone number. Business addresses will not be accepted.
If you have any question or wish to have your application mailed to you in paper form, please contact the Financial Aid Office at 208-282-2756.
Federal Parent Plus Loans
Complete the following form If you would like to apply for a Parent PLUS Loan for your dependent, undergraduate student. The borrower of this loan will be subject to a credit check to determine creditworthiness. Note: The parent who completes the Master Promissory Note (MPN) must also be the parent who completes the completes the Parent PLUS Application Form.
For additional information see the Federal Parent Plus Loan site.