Step 1: Complete the Free Application for Federal Student Aid (FAFSA) at
www.fafsa.ed.gov. List LMU School Code 011649 on the FAFSA. Indicate your interest to federal student loans on the application.
Step 2: Accept the award offer on the Federal Stafford Subsidized and/or Unsubsidized Loan on PROWL via
Manegate.
Step 3: Complete Loan Entrance Counseling via
EDTEST. This federally mandated requirement is for your understanding of the borrower rights and responsibilities when borrowing federal loans. Your Stafford Loans will not be disbursed until this requirement has been successfully completed.
Step 4: Complete the
Online Master Promissory Note (MPN) with the lender of your choice. Although you have already been approved by LMU to borrow a Federal Stafford Loan, you must complete the application process by selecting a lender, and completing that lender's application materials, which includes the MPN. You will satisfy the MPN requirement by following your lender's application instructions.
You are not obligated to use the lenders listed on our Web site, and may borrow from any lender or credit union of your choice. Please review each lenders' terms and conditions carefully before making a decision. You will only need to complete this requirement once as a first-time borrower. This lender will fund your loans for subsequent years unless you choose to borrow from a different lender at a later time. You will then need to complete a new MPN with your new lender.
What's next?The LMU Financial Aid Office will certify your Stafford Loan once we receive notice from your lender that an MPN was successfully completed, and the Entrance Counseling requirement is completed.
For more important information regarding the loan payment process at LMU, please
click here.