Loan Requirements

Borrowers are expected to complete only those forms and requirements that are listed under their specific borrower type. For example, undergraduate students cannot submit forms or complete requirements that are required for a federal Parent PLUS loan or a federal Graduate PLUS loan.

Please note: It is a federal violation to complete forms or requirements for a loan of which you are not the primary borrower.

Federal Loan Requirements

The requirements listed below must be completed to allow your federal loans to disburse onto your account and to allow your transcript to be released after you graduate. These requirements only need to be completed once during your undergraduate career. To complete any of the federal loan requirements listed below, you will need your personal FAFSA PIN. If you have forgotten your PIN, you can request it online. We encourage you to save all information electronically for your records.

Federal Direct Subsidized, Unsubsidized, and Graduate PLUS Loan Borrowers

Signing Your Direct Loan Electronic Master Promissory Note (eMPN)

Please note that students cannot sign their eMPN until they receive notification via email from the Financial Aid Office informing them of the web links to use. Do not try to complete the requirements until you receive this notification.

All first-time borrowers of a federal direct loan at the University of Rochester must complete an eMPN. There is no need to submit a copy of your eMPN to the Financial Aid Office. We will receive an electronic notice that the eMPN has been signed and is valid. At that time, your Federal Direct Loan will be scheduled for disbursement.

In order to sign your eMPN, please click here. Signing your eMPN is a 10-step process and will require at least 30 minutes to complete.

Federal Direct Loan Entrance Counseling

In addition to the eMPN, all first-time borrowers at the University of Rochester must complete loan entrance counseling before loan proceeds can be credited to their student accounts. This session will take approximately 25-30 minutes. After you complete the entrance interview quiz, our office will receive confirmation by the U.S. Department of Education within approximately one week.

In the entrance counseling session, you will learn:

  • your rights and responsibilities as a borrower
  • information on interest rates, expenses, repayment plans, and other important details about borrowing
  • whom to contact with questions

Note: You may attempt to pass the quiz three times. If you do not pass on your third attempt, you must contact your financial aid counselor at the Financial Aid Office to set up an in-person session.

Click here to begin the Direct Loan Entrance Counseling.

Federal Direct Loan Exit Counseling

Please note if you do not complete a loan exit counseling session, your University of Rochester transcript will be held until this requirement has been completed.

All students who have borrowed through the Federal Direct Student Loan program while at the University of Rochester must complete a loan exit counseling session during their last semester prior to graduation. Other conditions that require exit counseling include withdrawing, becoming inactive, or falling below half-time status. This session will take approximately 30 minutes to complete.

In the exit counseling session, you will learn:

  • your rights and responsibilities for repayment
  • your repayment options
  • how to defer your loans while in graduate school
  • who your loan servicer is and how to contact them

After you complete the exit interview quiz, our office will be notified by the U.S. Department of Education within approximately one week.

Click here to begin the Direct Loan Exit Counseling.

Federal Direct Parent PLUS Loan Borrowers

Signing Your Direct Loan Electronic Master Promissory Note (eMPN)

Please note that parents cannot sign their eMPN until they receive notification via email from the Financial Aid Office informing them of the web links to use. Do not try to complete these requirements before your email notification.

Parents who are borrowing a Federal Direct PLUS Loan for the first time and have already submitted a PLUS loan application to the Financial Aid Office must complete an eMPN once they have received credit approval and have received their emailed instructions from the Financial Aid Office. The eMPN needs to be signed only once; it is good for 10 years. However, you must submit a new PLUS application each year.

There is no need to submit a copy of your eMPN to the Financial Aid Office. We will receive electronic notice that the eMPN has been signed and is valid. At that time, your Federal Direct PLUS Loan will be scheduled for disbursement.

In order to sign your eMPN, please click here. Signing your eMPN is a 10-step process and will require at least 30 minutes to complete.

Federal Perkins/Nursing Loan Borrowers

Perkins Electronic Master Promissory Note (eMPN)

Please note that students cannot sign their eMPN until they receive notification via email from our servicer, ACS, informing them of the web links to use. Do not try to complete the requirements until you receive this notification.

Students who are borrowing a Federal Perkins Loan for the first time at the University of Rochester must complete an eMPN. There is no need to submit a copy of your eMPN to the Financial Aid Office. We will receive an electronic notice that the eMPN has been signed and is valid. At that time, your Federal Perkins Loan will be scheduled for disbursement.

Click here to begin the Perkins eMPN process.

Nursing Loan Electronic Master Promissory Note (eMPN)

Please note that students cannot sign their eMPN until they receive notification via email from our servicer, ACS, informing them of the web links to use. Do not try to complete the requirements until you receive this notification.

Students who are borrowing a Nursing loan for the first time at the University of Rochester must complete an eMPN. There is no need to submit a copy of the eMPN to the Financial Aid Office once it is completed. We will receive an electronic notice that the e MPN has been signed and is valid. At that time, your Nursing Loan will be scheduled for disbursement.

Click here to begin the Nursing Loan eMPN process.

Perkins/Nursing Loan Entrance Counseling

All first-time borrowers at the University of Rochester must complete loan entrance counseling before loan proceeds can be credited to their student accounts. This session will take approximately 25-30 minutes.

In the entrance counseling session, you will learn:

  • your rights and responsibilities as a borrower
  • information on repayment, interest rates, and other important details about borrowing
  • whom to contact with questions

After you complete the entrance counseling, our office will be notified via an electronic report. Be sure to complete the entrance counseling session for each type of loan that you are borrowing at the University. You will only need to complete the entrance counseling session one time and this requirement will be complete for the rest of your undergraduate study at the University.

Click here to begin the entrance counseling session.

Perkins/Nursing/University Loan Exit Counseling

If you do not complete the Perkins/Nursing exit counseling session, your University of Rochester transcript will be held until this requirement has been completed.

All students who have borrowed either a Federal Perkins Loan or a Federal Nursing Student Loan while at the University of Rochester must complete a loan exit counseling session during their last semester prior to graduation. Other conditions that require exit counseling include withdrawing, becoming inactive, or falling below half-time status. This session will take approximately 30 minutes to complete.

In the exit counseling session, you will learn:

  • your repayment terms and conditions
  • how to defer your loans
  • who your loan servicer is and how to contact them

After you complete the exit interview quiz, our office will be notified by the within approximately one week.

Click here to begin your exit counseling session.

Alternative Loan Application Requirements

As of February 14, 2010, all alternative educational lenders are required to send new borrowers three disclosure statements as well as a self-certification form. The borrower must complete and return these statements to the lender before their application process will be complete with the lender and allow for any loan funds to be sent to the student's school.

Due to these requirements, it is important to note that students will need to allow for enough time for loan certification and disbursements to occur. This additional time may:

  • cause late fees on your student account
  • cause a delay in the receipt of a potential refund
  • affect student participation in registration and housing lotteries in the event that a financial hold exists on the account

Disclosures

The lender will send three disclosures to the borrower.

  • Application Disclosure -- sent once the lender receives the loan request from the student
  • Approval Disclosure -- sent once the student's loan request is credit approved by the lender. Please note that the borrower has 30 days from the receipt of the approval disclosure to notify the lender that the student accepts the loan offer.
  • Final Disclosure -- sent to the borrower after the lender has received the following items:
    • acceptance of the approval disclosure by the borrower
    • the private education loan applicant self-certification form completed by the borrower
    • certification of the loan by the borrower's school

Please be aware that the lender must wait at least 3 business days after the final disclosure is sent before they can send the funds to the school.

Private Education Loan Applicant Self-Certification Form

In addition to the disclosures, the lender will also send the borrower a self-certification form. This form is sent once the alternative loan application is credit-approved. The borrower must complete sections 2 and 3 of the form, sign it, and return it to the lender.

If you have received the approval disclosure but have not received the self-certification form from the lender within 3 business days, you may print the form available here.

Tips to Help Borrowers Complete the Self-Certification Form

Here are some additional tips for completing the self-certification form:

  • Section 2, Question A: To determine your current estimated cost of attendance, refer to the cost of attendance figure provided on the Important Messages tab in your FAOnline account.
  • Section 2, Question B: To determine your current financial aid awards, log into your FAOnline account and click on "Your Awards."
  • Section 2, Question C: To determine your current alternative loan eligibility, subtract your total financial aid from your total cost of attendance.
  • Section 3: To determine the period of enrollment for which you would like to receive this loan, please use the same dates that you originally used on your loan application with the lender.

If you are having difficulty finding the information you need to complete the self-certification form, please contact your financial aid counselor.

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