Complete the Loan Process

Once you have been awarded a student loan, this is where you come to complete the loan process. Before you can be awarded a student loan, you must first complete the FAFSA. Keep in mind, you MUST be enrolled at least half time each term to receive a student loan.

FIRST TIME BORROWERS AT NGCSU
If you are a first time borrower at NGCSU, you will need to

(1) Sign a master promissory note (MPN) with the lender you choose.
(2) Complete Entrance Counseling online

STUDENTS TRANSFERRING IN TO NGCSU
Even if you had a loan at your previous school, you will still need to complete both steps above as a First Time Borrower at NGCSU.

PREVIOUS BORROWERS FROM NGCSU
If you have attended NGCSU consecutively and have borrowed from the same lender previously, you will not need to complete the Entrance Counseling again nor will you have to sign a new MPN (MPNs expire after 10 years). Please note that if you choose to change lenders you will have to sign a new MPN with that new lender.

GRADUATE STUDENTS
The first time you borrow at NGCSU as a graduate student, you must sign a new MPN even if you borrowed as an undergraduate here or at another school. You will also need to complete Entrance Counseling.

Choosing a Lender

When borrowing a Federal Stafford Loan, you have the right to choose your lender. Be sure and compare what benefits different lenders offer.  You ARE allowed to choose a lender that is not included on the school's list. If you do not see the lender you are looking for on the lender list page, click on the link at the top of the page for a list of more lenders.

Fast Loan Facts

• Generally speaking, NGCSU will certify you for the maximum amount of loan money for which you are eligible, unless you request less. You may decline a portion or all of a loan or reject a loan type if you do not want it. Federal Loan Limits per academic year are as follows:

Freshman (less than 30 earned hours) $3500
Sophomore (30 to 59 earned hours) $4500
Junior or Senior (60 earned hours and above) $5500
Graduate Students $8500

Effective July 1, 2008 dependent students may be eligible for up to an additional $2000 of unsubsidized loans and independent students or dependent students whose parents were not able to obtain a Parent Plus Loan may be eligible for up to an additional $6000 of unsubsidized loans per academic year. Graduate students may be eligible for up to an additional $12,000. The actual amount a student can borrow depends upon the "cost of attendance", EFC, and other aid the student may be receiving. These additional unsubsidized loan funds must be specifically requested.

• Loan funds are divided by semester.
• Your award letter will list your loan amount. More than likely, you'll receive your student loan funds in more than one disbursement throughout the loan period, even if you're only attending one semester.
• If you are a first-year undergraduate and a first-time borrower, there may be a 30-day waiting period after classes begin before your loan funds can be released.
• You must continue to complete the Free Application for Federal Student Aid (FAFSA) each year as well as meet the Stafford Loan eligibility requirements as long as you continue to attend school.