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Direct Loans Information Page

Federal Direct Loans are the Financial Aid Office's major form of self-help aid. Federal Direct Loans are available through the Department of Education.   Other loan types are also available.   Terms and conditions of loans are similar with major differences being the source of the loan funds, some aspects of the application process and repayment plans.   Regardless of loan program, the process begins with the FAFSA.


The various types of loans available are as follows:

  • Direct Subsidized and Unsubsidized Loans
  • Federal Perkins Loan
  • Nursing Student Loan
  • Direct Parent Plus Loan
  • Alternative Loan
  • Direct Grad Plus Loan

PROCESSING STEPS:

  • Complete the FAFSA or Renewal FAFSA either on line or by mail
  • Respond to Fresno State's email Document Request Letter or paper Document Request Letter promptly to complete your file.
  • Receive and review your email Award Notification including the Loan Information Page link.
  • Complete an Entrance Counseling Workshop online at:  Entrance Counseling.
  • Follow the instructions in the Award Notification to accept or decline loans using the Student Portal. 
  • You will need to E-sign a Master Promissory Note using your FAFSA PIN number.

ENTRANCE COUNSELING WORKSHOPS

Completion is mandatory if you wish to apply for either the subsidized or unsubsidized Federal Direct Loan.   The purpose of this workshop is to assist you in becoming an educated borrower, more aware of your rights and responsibilities, and better able to make wise borrowing choices 
Complete your Entrance Counseling Workshop here

MASTER PROMISSORY NOTE:

A promissory note is a legal document that you will sign promising to repay your loan and agreeing to the terms and conditions of the loan. A Master Promissory Note (MPN) is a contract between you and the Department of Education.   The MPN is valid for up to 10 years if endorsed and implemented.  If you sign the MPN but do not utilize the note within 12 months it will expire.

RECEIVING YOUR DIRECT FUNDS:

Funds for Federal Direct Loans will be electronically transferred to your student account.   Academic year loans will be disbursed in two installments: one during the first half of the loan period and the second at the beginning of the spring semester.   Single semester loans will be disbursed in one disbursement.  Funds will be released only after enrollment and Satisfactory Academic Progress have been verified.   Once the semester has begun, funds transferred to Student Financial Services that do not have a “hold”, will be Direct Deposited or mailed to the student.   Disclosure statements regarding loan amounts, deducted fees, and funds transferred will be sent to students by the Department of Education.   All eligible funds must be disbursed within 3 business days of receipt, or they will be returned.   Additional disbursement information will be included with your award notification.

Federal regulations mandate that schools confirm completion of entrance counseling before they deliver loan funds to a student and Exit Counseling within a reasonable time prior to the student leaving school.

If you have questions about a consolidation loan you can find helpful information at Loan Consolidation