Master Promissory Notes & Entrance Counseling

(Step 5 of Apply for Financial Aid)

Federal Direct Loan Master Promissory Notes

First-Time Direct Loan borrowers at the IIT Conviser Law Center must complete a Direct Loan Agreement, Master Promissory Note (MPN) for the Unsubsidized Loan and a separate Master Promissory Note for the Direct PLUS Loan in order to receive the funds. The Master Promissory Note is completed online with Direct Loans at studentloans.gov.

See our Financial Aid Required Documents page for more detailed information about this requirement.

Please be aware that the Federal Direct PLUS Loan requires credit approval before the funds can be disbursed to the school. The Department of Education will run your credit after you accept your PLUS loan via the myIIT portal.

Federal Direct Loan Entrance Counseling for the Unsubsidized and PLUS Loan

First-time Direct Loan borrowers at IIT Conviser Law Center must complete Entrance Counseling online with Direct Loans in order to receive the funds. This counseling explains the terms and conditions of the loans you will be borrowing. The Loan Entrance Counseling is completed online with Direct Loans at studentloans.gov.

See our Financial Aid Required Documents page for more detailed information about this requirement.

Please do not confuse this Loan Entrance Counseling with Financial Awareness Counseling. Completing the Financial Awareness Counseling will not satisfy the Loan Entrance Counseling requirement. It is an optional session, that we recommend but it is not required. It provides tools and information to help students understand their financial aid and assist them in covering the basics of financial literacy.

 

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