Master Promissory Note and Entrance Counseling
First-time borrowers at Stevenson University of Federal Direct Loans are required to complete entrance counseling and Master promissory Note (MPN) before the Financial Aid Office can process their loan. The purpose of the entrance counseling is to ensure that you understand your rights and responsibilities as a new loan borrower and that you understand the regulations governing each loan program, such as interest rates, grace, deferment/forbearance options, prepayment, consolidation, and other general repayment obligations. You are also informed of the consequences of not repaying your student loans (default) and of various repayment strategies.
For more complete information on the Direct Loan Program, visit the federal website, direct.ed.gov