Steps for the Stafford Loan for Borrower

When you are a first time borrower in the William D. Ford Federal Direct Stafford Loan program, you have additional steps to complete as a borrower.

You must complete the following steps when you are a first-time Federal Direct Student Loan borrower at Salisbury University:

1. Properly complete an Electronic Master Promissory Note (E-MPN.) The E-MPN is a promissory note that you can use to make one or more loans for one or more academic years while enrolled at Salisbury University.
2. Complete an entrance loan counseling session so that you will know your rights and responsibilities as a borrower.

Our office will notify you when the E-MPN’s and Entrance Interview session are available for you to complete. This should occur in late May

Steps for the PLUS loan Borrower

When your parent is a first time PLUS loan borrower he/she has additional steps to complete.

1. Be a U.S. Citizen, National, Permanent Resident or Eligible Non-citizen.
2. Have a credit history check approval. The earliest this can be determined is May.
3. Properly complete an Electronic Master Promissory Note (E-MPN.) You can use the E-MPN to make one or more loans for one or more academic years while the student for whom you are borrowing is enrolled at Salisbury University. Note: The E-MPN must be completed by the parent who completed the Federal Direct PLUS Loan Information Form.

Our office will notify you when the PLUS E-MPN’s are available for your parent to complete.

Additional Information on Borrowing

You can estimate your monthly payments with various repayment plans by using the Repayment Calculators available on-line from the U.S. Department of Education .

For more information on the cost of borrowing or repayment, call the Federal Student Aid Information Center at 1-800-4FEDAID (1-800-433-3243).