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Apply for Loans

Dillard University participates in the Federal Direct Loan Program. Therefore, all federal loans Subsidized, Unsubsidized, & Parent PLUS are originated and disbursed by the federal government. The federal government is the lender. Please review the steps below to apply for student loans. Private/Alternative loans are also available. See the information below for details.

Federal Direct (Subsidized & Unsubsidized) Loan

Before you begin completing the MPN, please have the following information available:

•    Social Security Number
•    Driver’s License Number
•    Permanent address and telephone number
•    Federal Student Aid (FSA) user name and password issued to you by the Department of Education.  If you do not have one or need to request a duplicate, please do so at: FSA User Name and Password
•    Two references, including names, addresses, and telephone numbers

STUDENTS: Please follow the instructions below to apply for a Federal Direct Stafford Loan.

1.    You must complete an entrance loan counseling session.
2.    You must sign a Direct Loan Master Promissory Note. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department. It also explains the terms and conditions of your loan(s). The federal government will be the lender for you loan(s).

Federal Direct Parent PLUS Loan

PARENTS: Please follow the instructions below to apply for a Federal Direct Parent PLUS Loan.

1. PLUS CREDIT REVIEW: To obtain a credit decision for the Parent PLUS Loan, apply online at https://studentloans.gov/myDirectLoan/index.action. If approved, please complete Step 2. If denied, your dependent child may be eligible for additional unsubsidized loan funds. Please notify the office when a credit denial has been rendered.
2. You must sign a Direct Loan Master Promissory Note. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department. It also explains the terms and conditions of your loan(s). The federal government will be the lender for you loan(s).

Before you begin completing the MPN, please have the following information available to you:

•    Social Security Number
•    Driver’s License Number
•    Permanent address and telephone number
•    FSA user name and password issued to you by the Department of Education.  If you do not have one or need to request a duplicate, please do so at:  FSA user name and password
•    Two references, including names, addresses, and telephone numbers

Special PLUS loan counseling:

Beginning March 29, 2015, special loan counseling is required for any PLUS Loan applicant (parent), who has an adverse credit history but who qualifies for a PLUS Loan either by getting a loan endorser or being reconsidered due to extenuating circumstances. While the counseling is mandatory only for these borrowers, the Department offers voluntary counseling for all PLUS borrowers. Note that this special counseling is separate from the entrance counseling that all graduate and professional student PLUS Loan borrowers must complete. 

***NEW***  Annual Student Loan Acknowledgement​ ​

Effective April 15, 2020 for the 2020-2021 Award Year

What is the Annual Student Loan Acknowledgement? The Annual Student Loan Acknowledgement is an online session that allows students and parents to see how much they have borrowed, preview what their monthly payments might be, and explain concepts such as capitalization and the difference between federal and private loans. Starting in the 2020-2021 school year, borrowers of Federal Subsidized, Unsubsidized and PLUS loans will be required to complete the Informed Borrowing Confirmation process once each award year before receiving disbursement of their loan. What will you gain from the Annual Student Loan Acknowledgement?

• Knowing how much you owe in federal student debt will allow you to make informed choices before agreeing to borrow more money to pay for higher education.

• Calculating the monthly payments and the median salary you can expect to receive after graduating from college will give you a better understanding of your obligation.

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• Breaking down basic loan concepts such as interest accrual, capitalization, and the difference between private and federal student loans will help you better understand the balance for repayment.

How do I complete this? After April 15th, 2020, log into your MyStudentAid account using your FSA ID and password to complete the Annual Student Loan Acknowledgement requirement. Parent PLUS loan borrowers must also complete this requirement.

Federal Perkins Loan ended September 30, 2017. Federal Nursing Loan

The electronic procedure for completion of the Nursing loan is as follows:

***NOTE: Your FAFSA FSA ID user name and password are required to complete this process. To apply (create) or request a duplicate log onto FSA user name and password

1.    Log on to ECSI’s website at https://www.ecsi.net/prom6E

2.    Read all of the instructions for Electronic Promissory Note (at the end of the instructions page, click on begin the electronic signature process) and walk through all the steps to complete the process.

Should you require assistance, please contact Rhonda Creighton, Perkins Loan Coordinator at (504) 816-4601 or rcreighton@dillard.edu.

Private/Alternative Loans:  Helpful Link:  • https://www.privatestudentloans.com/ 

Private loans (also known as alternative student loans) can help you pay for college when federal assistance is not enough. We encourage all students to first look into federal loan programs. Eligibility for private/alternative loans depends on the student’s credit score. These loans are offered by private lenders and the amount you may borrow varies and depends on the lender of your choosing. The Office of Financial Aid & Scholarships will process any private/alternative loan of your choice. Please notify our office if you are applying for a private/alternative loan. The Private Loan Self-Certification Form is available under Documents and Forms, or you may obtain the document from one of our Financial Aid Counselors upon request.