IUPUI

**The information on this page is for the 2008 – 2009 academic year.  For summer 2008 information, please click here.

Federal Stafford Loans

Federal Stafford Loan Application Process

Beginning with the 2008-2009 academic year, IUPUI and IUPUC will utilize the federal Direct Loan program for all federal Stafford loans. The lender for the federal Direct Loan program is the US Department of Education. The application process for a Federal Stafford Loan can be completed entirely online by following these steps:

1. Complete the 2008-2009 Free Application for Federal Student Aid (FAFSA) at www.FAFSA.ed.gov.
   • Be sure to provide the correct school code: IUPUI – 001813; IUPUC - E01033.
2. IUPUI Office of Student Financial Aid Services will process your Federal Stafford Loan eligibility.
3. IUPUI will send a notification to your IUPUI email address to complete the online Master Promissory Note (MPN). These notifications will begin in June for the 2008-2009 aid year - if we have received your FAFSA and have evaluated your financial aid eligibility.




The Master Promissory Note The Master Promissory Note (MPN) is your promise to repay your federal Stafford Loan. You must complete an MPN in order to receive the funds from your federal Stafford Loan; this process can be done online using the eMPN. The eMPN is designed to make the loan process simpler for student borrowers. Click Here to Complete Your 2008-2009 MPN



4. Another eligibility check is done at the beginning of each semester.  As long as you meet the eligibility requirements, your loan funds will apply to your university charges no earlier than 10 days prior to the first day of classes. If your balance is paid and you have a credit on your bursar account, you will receive the excess funds to use toward books and living expenses.
   • You are encouraged to sign up for direct deposit for any refund via OneStart or by visiting the Office of the Bursar’s website.
   • If you do not have direct deposit set-up through the Office of the Bursar, a refund check will be mailed to the local address (address priority = local, student housing, student home, mail) on file with the university. You can view/update your addresses by visiting OneStart.
   
   Any of the following conditions could delay the processing of your loan request:
   • Not being admitted to a degree-seeking program.
   • Not being enrolled at least half-time
   • Not having a FAFSA on file for the current academic year.
   • Not meeting Satisfactory Academic Progress criteria.
   • Having student loan debt in excess of the federal aggregate limits.
   • Not completing loan entrance counseling.
   • Not responding to requests for additional information/documentation by OSFAS.
   • Waiting until classes begin before completing the financial aid process.
   You should monitor the progress of your financial aid and any additional information requests via your OneStart account and IUPUI or IUPUC email account.