Once you’ve been offered financial aid, the next step will be to review your financial aid package and choose which financial aid funding you would like to accept. You can login to the Student Portal to find specific instructions on how to accept the amount of aid you want to receive. If you are eligible, the Pell Grant is automatically accepted. For all other types of federal aid, please keep in mind that you do not have to accept the entire amount offered if you do not need it. Your acceptance is an acknowledgement that you want to receive the financial aid offered to you. When you accept a loan, you also accept the responsibility of repaying that loan.
Once your financial aid has been awarded, you can log in to the Student Portal to find specific instructions on how to accept the amount of aid you want to receive.
Loan Entrance Counseling
If you decide to accept a direct federal loan, the Department of Education requires you to complete Loan Entrance Counseling first. Loan Entrance Counseling gives you important information regarding your rights, responsibilities, and obligations for the student loans you borrow.
To complete your counseling, go to https://studentaid.gov and click on “Loan Entrance Counseling” underneath the “Loans and Grants” menu item. In order to use the loan counseling site, you will need to login with your Federal Student Aid ID issued by the Department of Education. If you do not have this ID, you will need to set one up by selecting “Create Account”.
Master Promissory Note
If you receive the direct federal loan, you must complete a Master Promissory Note (MPN). MPNs do have expiration dates so keep in mind that you may have to complete another MPN during your time with CSU Global.
Your MPN includes instructions for deferment, repayment, and interest. After you accept your loan, you will receive information on how to complete your MPN online. The Borrowers’ Rights and Responsibilities form and disclosure statement will be provided with your MPN.
The disclosure statement is a reminder that you will be receiving a loan that must be repaid. It includes:
- Loan principal amount
- Origination fee
- Insurance premium fee
- Cumulative principal debt for loans made by your lender
- Actual interest rate
- The name and address of your lender
- Net amount of each scheduled disbursement
- Expected date of each disbursement
Reapplying for Financial Aid
You must reapply for federal financial aid every academic year. To reapply, find the most current FAFSA at https://studentaid.gov, complete it, and submit it. Privately awarded financial aid may require additional documentation to continue to receive scholarships and loans. Carefully review your individual financial aid terms and conditions to make sure you’re in compliance with eligibility and academic standing while you’re receiving financial aid.