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

  1. Visit www.studentloans.gov
  2. 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.
  3. 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). 
  4.  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:
817-257-7858
financialaid@tcu.edu