Loan Requirements
Completing the Direct Loan Requirements
If you accepted a Direct Loan in your financial aid package, you MUST complete Entrance Counseling and a Master Promissory Note (MPN) before your funds will be released to the school. You may use the links below to reach the appropriate studentaid.gov webpages. You will be required to use your Student FSA ID username and password to complete and e-sign these online documents. This is the same FSA ID username and password you used to sign the online FAFSA.
What is Entrance Counseling?
Entrance Counseling is required before you can receive your first Direct Loan as either an undergraduate or a graduate/professional student. The U.S. Department of Education wants to ensure that you understand the responsibilities and obligations you are assuming as a borrower. The counseling session will take 20-30 minutes to complete and must be done in a single session.
What is a Master Promissory Note (MPN)
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). You may receive more than one loan under an MPN over a period of up to 10 years to pay for your (for a student) or your child’s (for a parent) educational costs, as long as the school is authorized to use the MPN in this way and chooses to do so. The school will tell you which loans, if any, you are eligible to receive.
Parent PLUS Loan Options
If the parent wants to apply for a Parent PLUS Loan, they MUST complete ALL three steps of the PLUS Loan Request Process listed below before the funds will be released to the school. The parent will be required to use their own FSA ID username and password to complete and e-sign the online documents, which may be accessed by clicking on the links below.
- Complete the PLUS Loan Application here
- Complete the PLUS MPN (Loan Agreement for PLUS Loan)Â here
- Complete the appropriate PLUS Loan Request Form (refer to forms linked below) and send it to the KCU Financial Aid Office via email to tajohnson@kcu.edu, via fax to 606-474-3268, or via U.S. mail to KCU Financial Aid Office, 100 Academic Parkway, Grayson, KY 41143-2205.
- PLUS Loan Request Form – First-Time Borrowers for 2023-24
- PLUS Loan Request Form – Returning Borrowers for 2023-24
If the PLUS Loan application is denied, the parent will have the option to appeal the credit decision or use a cosigner. If the parent does not intend to pursue either option, an additional amount may be added to the student’s existing unsubsidized loan eligibility by emailing tajohnson@kcu.edu.
Missing Links Complete the PLUS Loan Application & Complete the PLUS MPN (Loan Agreement for PLUS Loan) Student Loans
If you accept a Federal Direct student loan as part of your Financial Aid Offer, there are two additional steps required to complete the loan process before the loan amount(s) can be applied to your student account. For more information about student and parent loans, please visit KCU’s Loan Requirements webpage.
1. Complete Student Loan Entrance Counseling
Entrance counseling is an interactive tutorial that shows you how to understand your loans, manage your spending, and make a plan to repay your student loans. You will need about 30 minutes to complete the tutorial.
- Â Go to https://studentaid.gov/entrance-counseling/.
-  Click “I am an undergraduate student.”
- Â Log in using your FSA ID and complete the tutorial.
Loan Repayment Info
Remember, loans must be repaid. Student loan repayment begins six months after the student graduates, leaves school, or drops below half-time enrollment status. Parent PLUS loan repayment begins 60 days after the second disbursement of the loan.
Lifelong Friends
“At KCU, you have the opportunity to make lifelong friends with other faculty, staff and students. I know for me, these friendships will continue into eternity as these will be some of my treasures stored in heaven.”
Dr. Mitch Marshall, KCU Professor
