Loan Process
Applying for loans is as easy as 1 – 2 – 3!
Student Stafford Loans
- Accept loan(s) on WebAdvisor
- Sign into studentloans.gov* and complete Entrance Counseling.
- Complete a Master Promissory Note (MPN). Please select Subsidized/Unsubsidized.
Per new federal regulations California Lutheran University has changed from the FFELP (Federal Family Education Loan Program) to the William D. Ford Federal Direct Loan Program. Due to this change, all students who wish to acquire a Federal Stafford Loan will be required to complete Entrance Counseling for the Direct Loan Program. Per the Department of Education, a Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). You can utilize the same MPN for up to 10 years.
* To sign in under “Manage My Direct Loan”, you will need the Department of Education PIN that you used to log in to complete the FAFSA. To apply for or re-establish a PIN, go to www.pin.ed.gov.
Please note that the borrower has the right to cancel a portion of or the entirety of their loan within 14 days of either the first day of class or the disbursement of the funds to the student’s account, whichever is later. After which time, it is the borrower’s responsibility to return any unwanted funds to the lender.
