Lake Superior State University
Lake Superior State University
 
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Financial Aid Office

YOUR FIRST LOAN

 

First Step: Get Informed!

Go to our All the Basics! page to education yourself about the types of loans, amounts, and details of the loans you are applying for. Knowledge is power and it helps to understand what you're doing before you have to take further steps.

Remember: Educational loans are just that - loans! They have to be paid back eventually. Don't take more loan than you need.

LSSU recommends that students borrow their maximum eligibility in Federal loans before applying for alternative loans because Federal loans generally have better terms, conditions and borrower benefits than alternative loans.

 

Second Step: Apply for the Loan - IF You Haven't Already!

Our All the Basics! page tells you what is needed for the application process. It varies - depending on the type of loan you're applying for.

 

Final Step:

Keep in mind that YOU MUST:

1. Wait until the loan(s) have been offered to you by the Financial Aid Office (you'll receive an "Official Offer of Award"). The eligibility requirements for the loans vary - you will be offered only the loans you qualify for.

2. Accept the loan(s) you desire. Instructions will accompany your "Official Offer of Award".

3. Complete these final steps as needed.

Federal Subsidized/Unsubsidized Master Promissory Note is required AND Entrance Counseling is required. See links below
Federal PLUS Master Promissory Note is required. See link below
Federal Perkins Required paperwork will be sent to you by the Perkins Loan Coordinator at LSSU
Federal Nursing Required paperwork will be sent to you by the Nursing Loan Coordinator at LSSU
Alternative (Private Education) The lender will contact you via U.S. Mail or e-mail, whichever you have stated is your preference. There are disclosure statements which you must acknowledge and agree to, and a promissory note which you must sign.

 

 

 

 

 

 

 

 

 

 

 

 

Master Promissory Note (MPN) for a STUDENT Sign In Hint: Students sign in using their sign-in data. Complete both the MPN and Entrance Counseling
Entrance Counseling for a STUDENT Sign In
Master Promissory Note (MPN) for a PARENT Sign In Hint: Parents sign in using their (the parent's) sign-in data. Complete only the MPN for a Parent PLUS loan. You will provide info about your student during the process.

 

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