Federal Direct Loan Entrance Counseling and Master Promissory Note
After students accept a Federal Direct Subsidized or Unsubsidized Loan as part of their financial aid award package, our office will continue the loan process by submitting the accepted Federal Direct Loan information to the Federal Common Origination and Disbursement (COD) system for origination. However, for first-time borrowers, an entrance counseling session is required and a valid master promissory note (MPN) must also be on file with the COD before our office can make any Federal Direct Loan disbursements to students.
If first-time borrowers have successfully completed their entrance counseling session and MPN, any future Federal Direct Loan offers students choose to accept will be linked to their original, completed MPN. Master Promissory Notes are valid for up to 10 years from the date the first loan disbursement was made.