All Federal Direct Loans (subsidized and unsubsidized) require the completion of the Free Application for Federal Student Aid (FAFSA). Direct Loans are awarded to students on an award letter, which is sent after UND receives a valid, processed FAFSA.
When the Student Financial Aid Office receives the student’s acceptance (processed award notification) of the Federal Direct Loan, the loan application will be processed electronically with the Direct Loan Service Center.
Master Promissory Note (MPN)
To borrow a Direct Loan for the first time, you must complete a Master Promissory Note (MPN). The MPN must be completed online at the Direct Loans Master Promissory Note website. 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).
To complete an MPN online, you will be required to use your Department of Education-issued PIN. If you do not have a PIN, you may request one from the official PIN site.
In most cases, once you've submitted the MPN and it's been accepted, you won't have to fill out a new MPN for future loans you receive. You can borrow additional Direct Loans on a single MPN for up to 10 years.
You'll receive a disclosure statement that gives you specific information about any loan that will be disbursed under your MPN, including the loan amount, fees, and the expected disbursement dates and amounts.
Students borrowing a Direct Loan for the first time are required to complete an Entrance Loan Counseling Session before funds may be released.
Students are also required to attend an Exit Loan Counseling Session if they drop below half-time enrollment, withdraw, or before the end of their last term of enrollment at UND.
Electronic Fund Transfer (EFT)
All student loan funds are credited directly to the student’s University account.
Any funds in excess of the amount owed the University at the time of disbursement are considered "excess aid" and are released to the student's UND Pride Card. You must activate your card at www.UNDPrideCard.com and indicate how you want to receive your refunds.
Enrollment Status and Other Changes
It's important to keep the Student Financial Aid Office and the Direct Loan Servicing Center informed of any changes in your status, so that your loan information is up-to-date. This is your responsibility.
You must notify the Student Financial Aid Office and the Direct Loan Servicing Center if you:
Change your local address, permanent address or telephone number;
Change your name (for example, maiden name to married name);
Do not enroll at least half-time for the loan period certified by UND;
Do not enroll at UND;
Stop attending school or drop below half-time enrollment;
Transfer to another school; or
Changes in Eligibility
If your eligibility changes (i.e. change in grade level), you can request an increase by completing the Financial Aid Award Adjustment Request Form.
You may request adjustments to your financial aid awards after the initial award notification has been processed. Such adjustment requests may include requesting, canceling or reducing a Federal Work-Study or Direct Loan award; change in grade level; or change in enrollment.