LOANS
Lender Comparison Charts (05/06/08)
To compare the services of several lenders we work with on a daily basis, we have prepared these comparison charts so that you can make an informed decision when selecting your lender. Choosing one of the following lenders will allow us to process your Stafford Loan or Parent Plus application electronically and receive the funds via electronic funds transfer (EFT). These lenders are known for making quality service available to both the students and the universities they serve.
For those of you choosing to use a private loan lender, the following chart is provided to ease your decision making:
Electronic Master Promissory Note (click here)
The Master Promissory Note (MPN) is a contract with the lender that you, the student, must sign prior to your Stafford Loan being disbursed. Electronically signing your MPN online will ease the process of applying for a Stafford Loan. You will need to complete an MPN if you are a first time borrower, you change your lender, you are transferring schools, or if you cancel your promissory note. You are encouraged to contact your lender about the status of your MPN, should you have any questions.
And, please remember that while signing your MPN electronically speeds up the process, it can also cause you to lose track of the amounts you are borrowing, so please keep track of your loan amounts.
Entrance and Exit Counseling
As required by the Department of Education, all first time borrowers at Northwestern State must receive entrance counseling before being given their first loan disbursement. Additionally, all students that have previous loans must receive exit counseling before graduating, dropping below half-time, or resigning from the university. These counseling sessions will provide you with important information about your loans.
To begin a counseling session, please click on one of the links below:
Entrance Counseling (click here)