William D. Ford Federal Direct Loan Entrance Counseling
The federal government requires all first time student loan borrowers at California State University, San Bernardino, to complete a loan counseling session before receiving a Federal Direct Loan. Graduate students who request a Graduate PLUS Loan are required by the federal government to complete a Direct Loan Entrance Counseling session before receiving a Federal Direct Graduate PLUS Loan disbursement.
For both loan programs, students may satisfy this requirement by either completing the U.S. Department of Education's Online Entrance Counseling Session, or by attending one of the on-campus loan entrance counseling workshops conducted at California State University, San Bernardino.
If you choose to complete the online loan entrance counseling session, you MUST:
- Ensure you complete the “Stafford Entrance Counseling” if you are borrowing a Direct Subsidized and/or Unsubsidized Loan, or complete the “PLUS Loan Entrance Counseling” if you are borrowing a Graduate PLUS Loan, and
- Select California State University, San Bernardino as the institution to receive confirmation of your Entrance Counseling Session completion.
- Complete the Rights and Responsibilities Checklist at the end of the session.
Your Federal Direct Loan cannot be processed and disbursed until the Financial Aid Office received electronic confirmation of this requirement.
The U.S. Department of Education's Online Entrance Counseling Session is found at http://www.dlssonline.com/entrancecounseling/main-entc.asp.
If you choose to attend one of the on-campus loan entrance counseling workshops in person, the date’s times and location of these workshops can be found on the Student Loans Workshop http://admnacct.csusb.edu/forms/DLWorkshopInfoFlyer2008.doc or by calling the Student Accounts Office at (909) 537-5162. No appointment is necessary for these one-hour workshops.
Loan Exit Counseling
William D. Ford Federal Direct Loan Exit Counseling
The federal government requires that all departing students who received Federal Direct Loans MUST complete a Direct Loan Exit Workshop. This requirement is for all student borrowers graduating from California State University, San Bernardino, as well as students who leave school or drop to a less than half-time status for longer than the borrower's grace period and the date that the first loan payment will be due. Graduation certificates, transcripts, and other services will be held until this federal mandate is completed and documented. You may satisfy this requirement by either completing the U.S. Department of Education's Online Exit Counseling Session, or by attending one of the on-campus loan exit counseling workshops conducted at California State University, San Bernardino.
If you choose to complete the U.S. Department of Education's Online Exit Counseling Session, you MUST complete the Borrowers Fact Sheet and the Rights and Responsibilities Checklist at the end of the session, print it out, sign it, and then submit these forms to the Student Accounts Office (SAO) before you can receive credit for completing the counseling session. When these forms are received, your exit hold will be lifted. Turn in your forms to the Student Accounts Office located in Sierra Hall, Room 119, or at the Bursar satellite office located in University Hall, Room 171A. If you mail the forms to the SAO, please call the SAO at (909) 880-5162 to ensure that your forms have been received. The mailing address for the SAO is:
Student Accounts Office
California State University, San Bernardino
Sierra Hall 119
5500 University Parkway
San Bernardino, CA 92407-2397
The U.S. Department of Education's Online Exit Counseling Session is found at http://www.dlservicer.ed.gov. At this site, select on the Exit Counseling link under the Account Management menu. To access the exit counseling session, you will need your Personal Identification Number (PIN) that was mailed to you by the U.S. Department of Education.
If you choose to attend one of the on-campus loan exit counseling workshops in person, the date’s times and location of these workshops can be found on the Student Loans Workshop Information link http://admnacct.csusb.edu/forms/DLWorkshopInfoFlyer2008.doc or by calling the Student Accounts Office at (909) 735-5162. No appointment is necessary for these one hour workshops. Please bring information for three personal references (including name, complete address with zip code, and phone number) so you can complete the forms required.
Federal Direct Loan Promissory Note
Federal Direct Loan Promissory Note
On-line Information and Instructions
In order to obtain a Federal Direct Loan you must have a valid Master Promissory Note on file with the Loan Origination Center.
You can now complete your Master Promissory Note on-line! Completing the new Electronic Master Promissory Note (E-MPN) is easy and fast!
Electronic Master Promissory Note (E-MPN)
- To use the E-MPN you must have a U.S. Department of Education issued Personal Identification Number (Federal PIN).
- To apply for a PIN or to request that your PIN be mailed to you, visit http://www.pin.ed.gov.
- Once you have received your PIN, follow the steps below to complete the E-MPN process.
Before you start:
Step 1: To avoid delays, carefully follow the steps below, you must complete the entire process. You cannot save your information, if you stop midway through the process after 30 minutes of inactivity you will be timed out.
Step 2: In addition to completing the electronic MPN, you must have a Free Application for Federal Student Aid, (FAFSA) on file with CSUSB for the academic year you wish to apply for a loan. If you have not completed the FAFSA and wish to do so now, go to http://fafsa.ed.gov
Step 3: Have the following nearby:
- Your Federal PIN number, and
- Reference information for two different people who will always know your whereabouts
- Name
- Permanent Address
- Phone Number
Step 4: Review the information in this step and then go to step 6
- Make sure that you have the hardware and software necessary to complete an E-MPN. You will need Adobe Acrobat Reader version 4.0 or higher and Microsoft Internet Explorer version 5.0 or higher, OR Netscape Navigator version 4.0 (release 4.75 through 4.77). To download these browsers, go to the Federal Electronic Master Promissory Note web site then select "What You Need". Follow the instructions for downloading the browsers.
Step 5: Go to the Federal Electronic Master Promissory Note web site at http://dlenote.ed.gov and select "COMPLETE NEW MPN".
Paper Master Promissory Note (MPN)
You can complete a paper Master Promissory Note (MPN). However, we strongly encourage you to use the new, faster electronic promissory note process. To have a paper MPN mailed to you, please email us at financialaid@csusb.edu. Please include your full name, date of birth, and the academic year you are requesting a loan (ie. 2007/2008, and use "Paper MPN request" as the subject.
Note:
New borrowers at California State University San Bernardino must complete an entrance loan counseling session. You may meet this requirement on-line at http://lo-online.ed.gov/entrance_counseling/01_ec_main.shtml to complete the loan counseling session now.
Loan Repayments
It is important to keep in mind that a loan is borrowed money and MUST be repaid at a specified time in the future, under the terms specified in the promissory note that the student signs. The student should be certain that all rights and responsibilities relative to any loan funds are understood before signing the promissory note. Failure to pay a student loan will adversely impact future credit ratings since all defaults are reported to national credit bureaus.
After you graduate, leave school, or drop below half time enrollment, you have a six-month grace period before you begin repayment. Your lender will send you information about repayment, and you’ll be notified of the date repayment begins.
Both the Direct Loan and FFEL programs offer four repayment plans you can choose from, but the terms differ slightly. You’ll receive more detailed information on your repayment options during entrance and exit counseling sessions or you may contact your lender to obtain this information.
Example of typical payments for Direct and FFEL Standford Loan repayment plans
For Direct Loans Only: Income
Contigent (Income = $25,000) |
Total Debt When Borrower Enters Repayment |
Standard |
Extended (20 years used as example) |
Graduated (20 years used as example) |
Single |
Married / HOH |
|
Per Month |
Total Repaid |
Per Month |
Total Repaid |
Per Month |
Total Repaid |
Per Month |
Total Repaid |
Per Month |
Total Repaid |
$2,500 |
$50 |
$3,074 |
$50 |
$3,074 |
$25 |
$4,029 |
$21 |
$4,788 |
$20 |
$5,106 |
$5,000 |
$61 |
$7,359 |
$55 |
$7,893 |
$35 |
$8,649 |
$43 |
$9,576 |
$40 |
$10,212 |
$7,500 |
$92 |
$11,039 |
$82 |
$11,840 |
$53 |
$12,970 |
$64 |
$14,364 |
$60 |
$15,318 |
$10,000 |
$123 |
$14,718 |
$97 |
$17,463 |
$69 |
$19,175 |
$85 |
$19,152 |
$80 |
$20,424 |
$15,000 |
$184 |
$22,077 |
$146 |
$26,194 |
$103 |
$28,762 |
$128 |
$28,727 |
$121 |
$30,636 |
$31,000 |
$380 |
$45,627 |
$246 |
$63,394 |
$213 |
$68,854 |
$264 |
$59,370 |
$245 |
$66,087 |
Consolidation Programs
A consolidation loan allows you (or your parents, if they have a PLUS loan) to combine several types of federal students loans with various repayment schedules into one loan with one monthly repayment. Loan consolidation is available through both the Federal Direct Loan and the Federal Family Education Loan (FFEL) programs.
The interest rate for both Direct and FFEL Consolidation Loans is a fixed rate for the life of the loan. The fixed rate is based on the weighted average of the interest rates on the loans you consolidate rounded up to the nearest 1/8th of a percent. The interest rate will never be higher than 8.25%.
For more information on Loan Consolidation Programs, contact your lender for a FFEL Consolidation Loan or for a Direct Consolidation Loan, contact the Loan Origination Center’s Consolidation Department at 1-800-557-7392. TTY users may call 1-800-557-7395. Or, you can go to http://www.loanconsolidation.ed.gov
Students with Prior Loan Defaults
Default is failure to repay a loan according to the terms agreed to when you signed a promissory note. The consequences of default are severe. Your school, the lender or agency that holds your loan, the state, and the federal government may all take action to recover the money, including notifying national credit bureaus of your default. If you return to school, you’re not entitled to receive additional federal student aid. In many cases, default can be avoided by ensuring your lender has the most recent information on file for you, this includes current address, phone number, and/or email address.
It is the policy of CSUSB not to make additional federal, state or institutional loans to students who have had a prior default.
Penalty for Delinquent Loans
Students who have a delinquent CSUSB Emergency Student Loan, Rotary Student Loan or Major Emergency Loan assigned to a collection agency are not eligible to receive the following loans:
- CSUSB Emergency Student Loan
- Rotary Loan
- Major Emergency Loan
- Federal Perkins Loan
- Federal Subsidized Direct Loan
- Federal Unsubsidized Direct Loan
- Federal Parent Loan for Undergraduate Students
Safeguard your eligibility - always repay your loans.
Registration Fee Deferments
Students who have completed the financial aid process and who have an evaluated need level but have not received a final determination of their financial aid awards may be eligible for short term registration fee deferments. Registration fee deferments are automatic, if the student does not owe an outstanding balance from the previous term, and has never had CSUSB Emergency loans sent to Collection. the fee deferment is valid for up to 30 days, or when the financial aid award is finalized, whichever comes first.
Caution: Registration may be cancelled if the student does not pay registration fees within the 30 days. Student financial aid files are not considered complete until all documents are received, reviewed and evaluated by an advisor. If, due to changes on the financial aid application, the student is not eligible for financial aid, the student is then liable for the full costs deferred by this program.
Students should be prepared to pay with their own funds any late fees, library fines, or any other costs not associated with registration.
Financial Aid Office