Minot State moving to federal Direct Loan program
Due to recent federal legislation, the Federal Family Education Loan (FFEL) program is ending. Beginning with the 2010-11 academic year, Minot State University will begin participating in the federal Direct Loan (DL) program. This change will not affect any existing current year (Fall 2009-Spring 2010-Summer 2010) loans or loans borrowed prior to this time.
Students must sign a new master promissory note (MPN) for any Direct Subsidized/Unsubsidized Loan they expect to borrow for the 2010-11 academic year. Students must also complete a Direct Loan entrance counseling session to borrow during the 2010-11 academic year.
The Office of Financial Aid recommends that students planning to borrow a federal student loan during the 2010-11 school year complete a new Direct Loan MPN and online loan entrance counseling at www.studentloans.gov by May 1 to avoid delays in the fall. Visit www.minotstateu.edu/finaid/loans_01.shtml for Direct Loan frequently asked questions or contact the Office of Financial Aid at (701)858-3375 for more information about Minot State's transition to the federal Direct Loan program.