HOW TO APPLY FOR A FEDERAL DIRECT STUDENT LOAN

1. Complete your MPC financial aid file for 2024-2025
2. Must provide one of the following: Driver's License or State ID or Permanent Resident Card or U.S. Passport
3. Complete Loan Entrance Counseling at https://studentaid.gov/entrance-counseling/
4. Complete an electronic Master Promissory Note (MPN) at https://studentaid.gov/mpn/
5. Complete the 2024-2025 MPC William D. Ford Federal Direct Loan Request Form
6. Submit all required forms to the financial aid office in-person or via the USPS (United States Postal Service)
7. Deadline to submit forms for Fall 2024 is November 22,2024 at 12:00 noon
8. Deadline to submit forms for Fall/Spring 2025 is May 2, 2025 at 12:00 noon

The fixed interest rate for new Direct Federal Loans first disbursed on or after July 1, 2024 and before July 1, 2025 is 6.53%

Direct loan (Origination) fees disbursed on/or after 10-1-2020 and before 10-1-2025 will be 1.057%

All loan fees will be deducted from the proceeds of the loan prior to disbursement

Changes to your original loan request must be submitted on the "2024-2025 Direct Loan Revision and/or Cancellation Form"

Questions regarding MPC Federal Direct Student Loans?

Contact Michelle Moore at:   mmoore@mpc.edu

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HOW TO APPLY FOR A FEDERAL DIRECT PARENT LOAN FOR UNDERGRADUATE STUDENTS (PLUS) Parent Applicants Only

Parent must do the following to apply for a Federal PLUS loan (PLUS = Parent Loan for Undergraduate Student):

1. Submit a 2024-2025 Parent PLUS Loan Application to the MPC Student Financial Services Office.
2. Go to: https://studentaid.gov/plus-app/parent/landing  Log In=>"Loans & Grants" =>"PLUS Loans: Grad PLUS & Parent PLUS" => "I am a Parent of a Student" => START  Follow the instructions provided.
3. Go to: https://studentaid.gov/mpn/parentplus/landing  Log In=>"Loans & Grants" = "MPN" =>"I'm a Parent of an Undergraduate Student" =>START  Follow the instructions provided.
4. At any time you can request to adjust your Parent PLUS Loan amount from our MPC Student Financial Services Office.  Changes to your original PLUS Loan request must be submitted on the "2024-2025 Parent PLUS Loan Revision Form"
5. Submit all required forms to the financial aid office in-person or via the USPS (United States Postal Service)
6. The interest rate for the 2024-2025 year is 9.08%.
7. An origination fee of 4.228% will be deducted from each disbursement.
8. NO Summer Loans           Form Deadline May 2, 2025

Applicant must:

• Not be in default on any type of federal loan
• Be a U.S. citizen or eligible non-citizen
• Pass a credit check conducted by the loan servicing agency

Question regarding MPC Federal Direct PLUS Loans? Contact Michelle Moore at:   mmoore@mpc.edu