Federal Direct Loans
Applying for the Loan
1) Accept Your Loan in Axess
- If the loan is included in your award you can accept it in AXESS. Under the Student Center tab, in the Finances section, select "Accept/Decline Awards." You can accept the maximum amount, specify a lower amount, or decline the loan.
- If you do not have the loan included in your award, submit a request to firstname.lastname@example.org.
- If you have not applied for financial aid, complete the Applying for Aid process.
2) Complete Your Master Promissory Note
Note: If you completed a Direct Loan Master Promissory Note (MPN) in a prior academic year at Stanford, you do not need to complete a new MPN. Your existing MPN covers your Direct Loan borrowing for up to ten years.
- Go to the Direct Loan website at http://StudentLoans.gov/.
- Click on the green "Sign In" button.
- Log in with your Social Security number and FAFSA PIN number. You will see a screen with these options:
- Click on "Complete Master Promissory Note." You will be taken to a screen with these options:
- Click on "Subsidized/Unsubsidized."
- Complete all required fields (indicated by red asterisk) in the Personal Information section.
- For School State, select CALIFORNIA.
- For School Name, select STANFORD UNIVERSITY.
Continue with Steps 2, 3 and 4, including the electronic signature. You will have the opportunity to print a copy of your completed, signed MPN. The Stanford Financial Aid Office will be notified when you have completed and signed your MPN.
If you have questions about completing your MPN, you can call Direct Loan Applicant Services at (800) 557-7394 or contact the Stanford Financial Aid Office.
Note: If you have not already done so, please complete your Direct Loan Entrance Counseling requirement on this same website.
DO NOT select the STANFORD GSB, STANFORD LAW, or STANFORD MED options as these are meant for students at Stanford's professional schools. Note: Ph.D. students at the Medical School should select STANFORD UNIVERSITY, not STANFORD MED.
3) Receiving Your Loan Funds
Loans are generally divided evenly over the three quarters of the academic year. If your promissory note is complete and you have enrolled for courses, your loan funds will be applied to your University bill a few days prior to the beginning of each quarter. If the quarter has already begun, you can monitor your loan disbursements in AXESS.Updated on August 7, 2014 12:55 PM