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Financial Aid

Direct Loan Application Process

Complete Steps 1 to 3

Tips Before You Begin

  • Direct Loans at UMFK are processed through Direct Lending. The Department of Education will be your the lender.For more information regarding Direct Lending, please visit the following links:
  • A financial aid award can be viewed, accepted/declined in MaineStreet
  • There are 3 Steps to the Direct Loan application process. Steps 1, 2 and 3 (below) must be completed before your loan request can be processed by the school
  • You will be leaving UMFK's website as you complete the 3 Steps. Please make sure to return to UMFK's website to complete the remaining steps. If Steps remain incomplete, loan requests will not be processed.

Click here for more information about using MaineStreet.


Step 1: Accepting Your Direct Loan Offer

If you want a Direct Loan that was offered to you on your Award Notice, you will need to affirm to the financial aid office that you want all or part of the "offered" loan. An "offered" loan on your Award Notice informs you of how much you are eligible to borrow. If you want loan funds, you must officially accept all (or part) of the "offered" Direct Loan(s) on MaineStreet. This will be accomplished in this step.

You can apply for a Direct Loan in one of two ways:

  1. Online from MaineStreet
    (Learn more about how to accepting your financial aid and loans on MaineStreet)
  2. By paper: complete, sign and return (to UMFK) the (paper) Award Notice mailed to you. Make sure to complete both sides of the form.

Note: Steps 1-3 of the Direct Loan application process must be completed before a Direct Loan request from the student can be processed by the school and before loan funds can be applied to a student's school account.

Note: Once loan funds are applied to a student school account, the school bill will be reduced by the amount of the loan payment. Payments applied to a student's University bill can be viewed in detail in MaineStreet, under the Student Center, under the Finance section. It is recommend that a student's bill be viewed periodically.


Step 2: Complete the Entrance Counseling Session

About the Entrance Session: The Entrance Counseling Session is an online presentation that provides the student with information about the different types of Direct Loans (i.e., subsidized and unsubsidized) available and your rights and responsibilities as a loan borrower. Students are required by Federal law to complete this session before they can borrow Direct Loan funds. This is an automated process and you will be required to answer questions as you complete the process.

The Entrance and first-time Direct Loan borrowers at UMFK:

  • Federal law requires all first-time borrowers to complete an Entrance Counseling session.
  • There will be a quiz after the on-line presentation, so please listen and read instructions carefully.
  • After you have successfully completed this session, you do not need to complete it again while at UMFK.

*** Complete your Entrance Counseling Session by Clicking Here ***

Note: The Entrance Counseling link listed above is the same link as the MPN link listed in Step 3 (below). The Entrance session and the MPN can both be completed from the same link.

The Entrance and continuing UMFK students:

  • If you have received Direct Loan funds through UMFK before, then you have already completed this Entrance session and can skip this step.
  • If you are not sure if you completed this process, complete it again.

Note: You will be leaving UMFK's Website. Please return to our Website to continue with the completion of Step 3 below.


Step 3: Complete the Direct Loan Master Promissory Note (MPN)

What is a Direct Loan MPN?
The MPN is an agreement signed by you verifying that you promise to pay back the Direct Loan according to the terms of the note.

MPN and first-time Direct Loan Borrowers:
If this IS your first Direct Loan, you will need to complete a Direct Loan MPN.

*** Complete your Direct Loan MPN by Clicking Here ***

(Your FSA ID is required to log in to this website. You may apply for a FSA ID at fsaid.ed.gov.)

MPN and Continuing Students with prior Direct Loans:
If this is NOT your first Direct Loan and you have already completed a Direct Loan MPN, then you may skip this step.

If you do not complete the required MPN online, once the school certifies your loan, your lender/servicer may contact you by mail requesting that you complete the required MPN. The preferred method of completion is online. If a paper MPN is provided, complete it and immediately forward it to the address indicated. A MPN must be completed and returned to the lender/servicer before any loan funds will be disbursed to the student's school.

Note: When you sign a promissory note and receive loan funds, you are agreeing to repay the loan according to the terms of the note. Except in cases where the loan is discharged (for instance in the death of the student) the loan must be repaid with interest, even if the student does not complete the program, does not like the program, or is unable to procure employment after completing the program.