Beginning fall 2010 the University of Mobile will move from the current Federal Stafford Loan Program and begin participation in the Federal Direct Loan Program. This will affect ALL borrowers, both new and returning. The decision to move to Direct Lending will ensure availability of federal loans to students.
In order to complete the Federal Direct Loan process a valid FAFSA (Free Application for Federal Student Aid) is required. www.fafsa.gov
To apply for a Federal Direct Loan, simply follow the directions below:
- Complete the required Federal Direct Loan Entrance Counseling.
- Complete the electronic Master Promissory Note: E-Sign
Your signed MPN is valid for a 10-year period and enables you to borrow subsequent loans under the same note without requiring you to complete a new loan application each year. If you previously have borrowed a student loan, your borrower rights and responsibilities remain unchanged and you are responsible for repaying your entire student loan obligation.