Federal Direct Loans
Applying for the Loan
1) Accept Your Loan in AXESS
- From the My Finances menu, select Financial Aid > Accept/Decline Loans. Use the red Change button to switch to the correct academic year, if necessary. For each loan offer, use the drop-down under Award Decision to Accept or Decline your loan. If you wish to accept a lower amount, choose Accept, then click the Reduce box, then enter the amount you wish to accept. When you are ready, click Submit.
- If you do not have the loan included in your award, submit a request to email@example.com.
- 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/.
- Locate and select "Log In" button
- Log in using your FSA ID. If you forgot your FSA ID, refer to FSA ID Account Help.
- Click on "Complete Loan Agreement (Master Promissory Note)”. You will be taken to a screen with these options:
- Click on "Start" for the MPN for Subsidized/Unsubsidized Loans.
- Complete all required fields (indicated by red asterisk) in the Borrower Information section.
- For School State, select CALIFORNIA.
- For School Name, select STANFORD UNIVERSITY. Your selection should look like the following:
Continue with the following steps 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.
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 the University bill a few days prior to the beginning of each quarter. If the quarter has already begun, students can monitor the loan disbursements in AXESS.Updated on September 29, 2022 10:16 AM