Federal Direct Stafford Loan application process

Saint Martin's University will be processing all Federal Stafford Loans through the Federal Direct Loan (DL) Program beginning with the 2010-2011 academic year (this includes summer 2010). Under the Direct Loan Program, the funds for your federal loans will come directly from the Department of Education.

Saint Martin's University will no longer use the Federal Family Loan Program (FFELP) to process Stafford, PLUS and Graduate PLUS loans. Through the FFELP program, funds came from a bank, credit union, or other lenders that participated in the program. Eligibility rules and loan amounts are identical under both the FFELP and the DL Program.

If you have not borrowed within the past ten years through Direct Loan Program, you must complete both DL Entrance Counseling and a DL Master Promissory Note. The financial aid staff will contact you if you need to complete a new Master Promissory Note and or entrance counseling.

1. Direct Loan Entrance Counseling is a federal requirement for all students borrowing a Federal Direct Loan for the first time at Saint Martin's University. The entrance counseling requirement will provide you with detailed information regarding the terms and conditions and rights and responsibilities as a Direct Loan borrower.
   
   To complete Direct Loan Entrance Counseling use the URL below and follow the instructions. Once the entrance interview has been completed, do not forget to choose Saint Martin's University in Washington so your confirmation is forwarded to us.
   https://www.studentloans.gov/myDirectLoan/index.action
   
   Students who need to complete Direct Loan Entrance Counseling will need:
   1. 20-30 minutes to complete
   2. Your Federal Student Aid PIN http://www.pin.ed.gov/PINWebApp/pinindex.jsp
2. The Direct Stafford Loan Master Promissory Note is a legally binding agreement to repay the student loan. This agreement is between the student and the Department of Education. A parent cannot complete the Direct Stafford Loan Master Promissory Note (or entrance interview) on the student's behalf.
   
   To complete the Master Promissory Note, please use the link below.
   https://studentloans.gov/myDirectLoan/index.action
   
   Students who need to complete a Master Promissory Note will need:
   1. Approximately 30 minutes to complete the MPN. (MPN must be completed in a single session, be sure you allow enough time to complete)
   2. Your Federal Student Aid PIN. http://www.pin.ed.gov/PINWebApp/pinindex.jsp
   3. Personal information. (Permanent address, mailing address, telephone number, email address).
   4. Employer information. (Employer name and employer address).
   5. School name
   6. Reference information for two people you have known for at least 3 years. The first reference should be a parent or legal guardian. (Reference names, address, telephone numbers and relationship to student).

Please note that direct loan funds will not be disbursed to your student account until you have completed the entrance counseling requirement, the Direct Loan Master Promissory Note and the college has received confirmation from the Department of Education that both requirements have been satisfactorily completed.

Other important loan information:
If you do not plan to borrow your Federal Direct Stafford Loan for the current academic year, please notify our office in writing. If you have any questions regarding either the completion of loan entrance counseling or the loan programs at Saint Martin's University, contact the financial aid staff at 360-438-4397 or email us at FinAid@stmartin.edu