Getting Started with Loans

If you choose to accept a loan, there are a few requirements that must be completed in order for your loan to be disbursed.

Entrance Counseling

Federal Loans: Entrance counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You’ll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default. Entrance Counseling is completed online through the U.S. Department of Education.

Private Loans: Private loans may also have an entrance counseling requirement. Be sure to check with your lender to ensure these requirements are met so that your aid can be disbursed.

Begin Your Federal Entrance Loan 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. Department of Education. It also explains the terms and conditions of your loan(s). The Master Promissory Note is also completed through the U.S. Department of Education for federal loan borrowers. Private Loan providers may have a separate Master Promissory Note that needs to be completed.

Sign Your Master Promissory Note

Exit Counseling

Exit counseling is conducted with each borrower of federal loans either in person or by electronic means when a student leaves school or drops below half-time enrollment. The exit counseling informs the borrower of the average anticipated monthly repayment amount based on the average indebtedness of the student borrowers who have attended HCU; available repayment options, debt-management strategies, deferment, forbearance and discharge options. Student borrowers must provide current information concerning name, address, social security number, references, and driver’s license number and state of issuance, as well as the borrower’s expected permanent address, the address of the borrower’s next of kin, and the name and address of the student borrower’s expected employer, if known. The student borrower is made aware of the availability of the Student Loan Ombudsman’s office and of the availability of Title IV loan information in the National Student Loan Data System.

Complete Exit Counseling