Student Financial Services

Rights and Responsibilities of a Student Loan Borrower

 
 

Entrance Counseling

Master Promissory Note

Exit Counseling

 You will need your Federal Student Aid ID (FSA ID) to complete your master promissory note and entrance counseling on studentloans.gov.

Entrance Counseling

In accordance with federal regulations, all first-time borrowers of Federal Direct Loans and Graduate PLUS must also complete an entrance counseling session at studentloans.gov. During this counseling, you will cover the terms of the loan as well as your rights and responsibilities when borrowing from the Federal Direct Loan/Graduate PLUS programs. Federal student loans cannot be credited to a student’s account until an entrance counseling session has been completed.

To complete your entrance counseling at studentloans.gov, sign in using your FSA ID.

  1. Select Complete Entrance Counseling
  2. Select the Counseling Type (undergraduate or graduate)
  3. Select Adelphi University
  4. Take the counseling session and quiz
  5. Print and retain a copy for your records

Master Promissory Note

All Federal Direct Loan borrowers must complete an electronic master promissory note (MPN). A separate MPN must be completed by PLUS and graduate PLUS borrowers.

The 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 can borrow additional Direct Loans on a single MPN for up to 10 years.

To complete your MPN at studentloans.gov, sign in using your FSA ID.

  1. Select Complete Master Promissory Note
  2. Select the type of loan for which you are applying
    • Subsidized/Unsubsidized Direct Loan
    • Graduate PLUS Loan
    • Parent PLUS Loan
  3. Complete all required information, review and sign
  4. Print and retain a copy for your records

Exit Counseling

In accordance with federal regulations, students who withdraw, drop below 6 credits or graduate, must complete an exit counseling session if they have received a Federal Stafford, Federal Direct Loan, Federal Graduate PLUS loan, Federal Perkins Loan or a Federal Nursing Student Loan. Different exit counseling sessions are required dependent upon the type of loan(s) you received. The exit counseling session(s) will provide you with your loan history, and will inform you of your repayment options.

Federal Direct Loans and Graduate PLUS Loans

  • Go to studentloans.gov to complete exit counseling. You will be able to  review your federal loan history, find out who will service your loan and learn about deferment and repayment options
  • Visit the repayment plans and calculators page at studentloans.gov to learn about repayment plans.

Federal Nursing Student Loans, Federal Perkins Loans or Federal Nurse Faculty Student Loans

  • Go to ecsi.net to complete your exit counseling. You will be able to review your loan history and learn about deferment and repayment options.
  • Enter school code 5R.
 

For further information, please contact:

Office of Student Financial Services
Levermore Hall, Lower Level
p – 516.877.3080
p – x2240 (on campus only)
f – 516.877.3380
e – financialservices@adelphi.edu

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