Additional information related to loans and resources can be found below.
Entrance Counseling is a federal requirement for all Direct Loan recipients. The funds for your loan will not be added to your account until you have completed the counseling.
Entrance Counseling provides you with information about:
- Your rights and responsibilities as a borrower
- Interest rates, expenses, repayment plans, and other important details about borrowing
- Who to contact with questions
How to complete Entrance Counseling:
- Go to StudentAid.gov
- Select Complete Entrance Counseling
- Select Log in to Start
- Note: You will need your FSA ID. If you do not have your FSA ID, you can create a new FSA ID here
- Follow the directions to complete your Entrance Counseling
- Print your confirmation page and keep for your records. Your confirmation will be electronically received byh our office within 2-3 business days by the federal government
Note: We do not start linking Entrance Counselings until mid-summer.
Exit counseling provides important information to prepare you to repay your federal student loans. Exit Counseling is a federal requirement for all Federal Direct Loan recipients.
Exit Counseling provides you with information about:
- Borrowing a federal student loan is an important financial obligation. Exit counseling was created to ensure that you understand your rights and responsibilities as a borrower
- During the counseling, you will learn how to make payment on your loans and how to get help and protect your credit rating if you have problems
- There are different loan counseling sessions depending on the type of loan that you have borrowed. If you have borrowed multiple loan types, you may be expected to complete multiple loan counseling sessions. If this is the case, it will be indicated in MyCharlotte
How to Complete Exit Counseling
- If you have received a subsidized, unsubsidized, or PLUS loan under the Federal Direct Loan Program, you must complete exit counseling each time you:
- Drop below half-time enrollment
- Complete your exit counseling at StudentAid.gov
- You must have your FSA ID in order to complete the counseling
Master Promissory Note
The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Dept. of Education. It also explains the terms and conditions of your loan(s); for instance, it will include information on how interest is calculated and what deferment and cancellation provisions are available to you.
How to complete your Master Promissory Note:
- Go to StudentAid.gov
- Under Complete a Master Promissory Note (MPN), select Log In
- (Note: You will need your FSA ID and password to access the MPN session. If you do not have your FSA ID, you can create a new FSA ID here
- Follow the instructions to complete, sign and submit your Direct Loan MPN
- Our office will be notified within 2-3 business days after you sign your MPN
When you graduate, withdraw or become less than a half-time enrolled you will be required to complete exit counseling.
- Aug. 1 is the priority deadline for MPN and Entrance Counseling completion
- This will ensure all loan requirements are updated before the first disbursement date
- The Office of Financial Aid usually receives these submissions within 2-3 business days that you complete them
*Note: We do not start linking Master Promissory Notes until mid-summer.
If you received loans, you can find information online at studentaid.gov.
Information is available in your dashboard for the following types of loans:
- Federal Direct Subsidized
- Federal Direct Unsubsidized loans
- Federal Perkins Loan
- Parent PLUS loans
- Graduate PLUS loans
Information provided on your dashboard:
- Review your total loan amount borrowed to date
- Disbursement dates for each loan
- Overall Pell Grant usage (if you were a Pell eligible student that received the grant while seeking your first Undergraduate degree)
- Remember, Pell grants do not have to be repaid
- Federal loans, grants, and aid overpayments
- Your loan servicer’s name and their contact information for each loan
Loan repayment and estimating your payments:
- Loan servicers will mail borrowers information about repayment once the student has either graduated, withdrew or dropped below half-time enrollment
- Borrowers have a 6-month grace period after graduation, withdrawing or dropping below half-time enrollment before your repayment period begins
- If your contact information has changed since applying for loans or completing loan requirements (such as Entrance Counseling and Master Promissory Note) you are encouraged to update your information with your lender
- Learn more at studentaid.gov
First-time Direct Loan recipients must complete Entrance Counseling and Master Promissory Note at studentaid.gov.
How to complete Entrance Counseling (EC):
- Go to studentaid.gov
- Select Complete Loan Entrance Counseling
- Select Log in to Start
- Note: You will need your FSA ID. If you do not have your federal ID, you can create a new FSA ID here.
- Follow the directions to complete your Entrance Counseling.
- Print your confirmation page and keep for your records. Your confirmation will be electronically submitted to our office by the federal government. It is usually received within 2-3 business days
*Note: We do not start linking Entrance Counselings until mid-summer.
Graduate students borrowing loans should view additional information here to learn more about their loan resources.