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Accepting Spring Loans

Refer to the recommended apply-by dates based on different types of loans and application processes.

Private Loans

To allow adequate processing time for a private loan to credit your spring bill, we recommend that you apply by December 5, 2014. The application is completed through the chosen lender's website. and requires the borrower to be credit-worthy or have an approved credit-worthy cosigner. It is important that private loans are applied for in advance because normal processing time is 4-6 weeks. Most private lenders require at least half-time enrollment (Undergraduate/Professional - 6 credit hours; Graduate - 4 credit hours), but some do not.

Stafford, Purdue, and Perkins Loans

To allow adequate processing time for a Stafford Loan to credit your spring bill, we recommend that you apply by December 12, 2014. Accept offered loans through your myPurdue account. For Stafford Loans a Master Promissory Note (MPN) or Loan Entrance Counseling may be required to be completed. Purdue and Perkins Loans also require a separate promissory note to be completed. Check your Financial Aid Requirements on myPurdue under the Financial Tab to see if a note or entrance counseling is required for 2014-15 and follow the steps below.

  • To accept a Stafford, Purdue, or Perkins Loan:
    • 1. Log on at https://mypurdue.purdue.edu
    • 2. Click on the "Financial" tab.
    • 3. In "Quick Links" column click on "Award for Aid Year."
    • 4. Choose 2014-15 aid year and submit.
    • 5. Click on "Accept Award Offer" tab.
    • 6. Enter in the amount you would like to borrow in the text box and choose "Accept" from the drop-down box next to the loan you would like to accept
    • 7. Click the "Submit Decision" button
  • To sign a Subsidized/Unsubsidized Stafford Loan Master Promissory Note (MPN):
    • 1. Go to http://studentloans.gov.
    • 2. Click the green button that says "Sign In."
    • 3. Sign in with the student information and PIN supplied by the federal government. It is the same PIN you used to sign the FAFSA. PIN's can be requested at http://pin.ed.gov if you need a new one.
    • 4. Click on "Complete MPN" in the middle of the page.
    • 5. Choose "Subsidized/Unsubsidized."
    • 6. Follow the steps from here to complete the master promissory note. All personal questions are referring to the student.
  • To Complete the Purdue or Perkins Loan Promissory Note:
    • 1. Go to https://www.ecsi.net/prom3p.
    • 2. Click the "Get Started" button.
    • 3. Sign in and follow the 7 steps to complete the Promissory Note.
    • NOTE: You are required to sign in using your ECSI PIN. If you no longer have the email with your ECSI PIN # (not your FAFSA pin), call 1-888-549-3274 for assistance.
  • To complete Loan Entrance Counseling for Stafford PLUS Loans:
    • 1. Go to http://studentloans.gov.
    • 2. Click the green button that says "Sign In"
    • 3. Sign in with the student information and PIN supplied by the federal government. It is the same PIN you used to sign the FAFSA. PIN's can be requested at http://pin.ed.gov if you need a new one.
    • 4. Click "Complete Entrance Counseling" in the middle of the page.
    • 5. Follow the steps to complete the loan entrance counseling.

Parent and Graduate PLUS Loans

To allow adequate processing time for either type of PLUS Loan to credit your spring bill, we recommend that you apply by December 12, 2014. The application is completed by the parent for the Parent PLUS and by the student for the Graduate PLUS Loan. First time borrowers of the Parent PLUS Loan and Graduate PLUS Loan will be required to complete a promissory note. Borrowers of the Graduate PLUS Loan must also complete loan entrance counseling. See instructions below to complete the application or requirements.

  • To fill out a Parent or Graduate PLUS Loan application:
    • 1. Go to http://studentloans.gov.
    • 2. Click the green button that says "Sign In."
    • 3. Sign in with the student information and PIN supplied by the federal government. It is the same PIN you used to sign the FAFSA. PIN's can be requested at http://pin.ed.gov if you need a new one.
    • 4. Once signed in, click on "Request a Direct PLUS Loan" in the middle of the page.
    • 5. Choose "Parent PLUS" or "Graduate PLUS."
    • 6. Follow the steps from here to complete the application.
  • To sign a Parent or Graduate PLUS Loan Master Promissory Note (MPN):
    • 1. Go to http://studentloans.gov.
    • 2. Click the green button that says "Sign In."
    • 3. Sign in with the student information and PIN supplied by the federal government. It is the same PIN you used to sign the FAFSA. PIN's can be requested at http://pin.ed.gov if you need a new one.
    • 4. Click on "Complete Master Promissory Note" in the middle of the page.
    • 5. Choose "Parent PLUS" or "Graduate PLUS."
    • 6. Follow the steps from here to complete the master promissory note. The "Personal Information" is referring to the Parent. The "Student Information" is referring to the student. On Step 4, the MPN must be signed with the parent's PIN.
  • To complete Loan Entrance Counseling for Graduate PLUS Loans:
    • 1. Go to http://studentloans.gov.
    • 2. Click the green button that says "Sign In"
    • 3. Sign in with the student information and PIN supplied by the federal government. It is the same PIN you used to sign the FAFSA. PIN's can be requested at http://pin.ed.gov if you need a new one.
    • 4. Click "Complete Entrance Counseling" in the middle of the page.
    • 5. Follow the steps to complete the loan entrance counseling.

Compare Loan Options

Compare and choose: it pays to understand college financing options. Compare the loans listed above at www.purdue.edu/dfa/loans/financing.php.