Federal Direct Student Loan
Entrance Counseling and Master Promissory Note Instructions
Texas Christian University has determined that you are eligible for a Federal Direct Loan. Borrowers must complete their required Entrance Counseling and Master Promissory Note (MPN) online.
Federal Direct Loan Process
- Visit www.studentloans.gov
- Select Log In * If you do not have an FSA ID, choose Create an FSA ID and follow the directions. * If you have an FSA ID already, choose Log In.
- You are now on the welcome page; select Complete Loan Counseling. * Next, select Entrance Counseling. * Add Schools to Notify. Select Texas and Texas Christian University. * Under Select Student Type, choose undergraduate or graduate. * Continue session until complete (approximately 30 minutes).
- Return to the welcome page and select Complete a Master Promissory Note. * On the next page, from the Select the type of Direct Loan you would like to receive, choose Subsidized/Unsubsidized. * Complete MPN as instructed.
Note: Graduate students who are borrowing a federal unsubsidized loan and a Graduate PLUS loan will need to complete both the unsubsidized Direct Loan MPN and the PLUS MPN for Graduate/Professional Students.
Watch your TCU email account for important financial aid notifications!!!
For more information about the Direct Loan Program, visit http://www.ed.gov/offices/OSFAP/DirectLoan/student.html.
The maximum amount of the Federal Direct loan is determined by the student’s grade level. All Federal Direct Loans have a 1.066% fee charged by the loan provider (US Department of Education). Subsidized Federal Direct Loans do not accrue interest until repayment begins* (six months after the student stops attending/graduates). All undergraduate Federal Direct loans have a fixed interest rate of 4.45%. Effective 7/1/2018 fixed interest rate of 5.05%. Repayment can be deferred until the student stops attending/ graduates, or student can choose to make interest payments on Unsubsidized loans while attending school.
* Due to the Consolidated Appropriations Act of 2012, the subsidy paid by the US Department of Education during a student’s grace period has been temporarily suspended. For Subsidized loans first disbursed on or after July 1, 2012, and prior to July 1, 2014 – interest will not accrue during in-school periods but WILL accrue during the student’s grace period.
TCU Loan Team Contact: