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Loan Process - Application, Requirements, Disbursement

Loan Process

  • Apply for financial aid including Direct Loans and Brown University institutional loan programs. Complete the FAFSA and any other required documentation for financial aid. The Office of Financial Aid or the Alpert Medical School Office of Financial Aid will create your financial aid award package.  (NOTE: Borrowers must complete additional steps to apply for the Direct PLUS Loan.) Beginning with the 2018-19 academic year, the Brown Promise changes the way award packages are created for Undergraduate students. Undergraduate students wishing to borrow loans will complete the loan request form on the "Resources/Additional Information" tab in Banner Self Service
  • Review and Accept/Decline award offers. Students are required to make borrowing decisions on Banner Self Service beginning May 2nd each academic year. Students can choose to accept the full amount offered, a partial amount based on what is needed, or decline any loan.  Loans that remain in offered status will not be processed and will eventually be cancelled. Review our Helpful Tips for Loan Borrowers
  • Complete loan requirementsOnce you accept loans through Banner Self Service, all Unsatisfied Requirements will be displayed.  View Unsatisfied Requirements by choosing the Financial Aid tab, the appropriate student level, the appropriate Aid Year, and choosing the Requirements tab. Watch for emails from the Loan Office with detailed instructions on how to complete requirements. Direct Loan borrowers will complete entrance counseling and master promissory note requirements online at  Borrowers of any Brown University institutional loan programs will complete entrance couneling, disclosures, and promissory note requirements online at  (Must wait for email from Loan Office, advising that materials are ready to be completed.) 
  • Disbursement - Loan funds will be disbursed to the student account once all loan requirements have been completed. Loan funds may no be disbursed any earlier than 10 days prior to the beginning of the term. If the loan disbursement results in a credit balance on the student account, students may request an electronic student account refund through the Bursar's Office.
  • Need additional funds to cover expenses? Contact Financial Aid to be certain you have exhausted all of your federal student loan eligibility before considering PLUS Loans or Private Loans.  Undergraduate students may request loans through the "Resources/Additional Information" tab on Banner Self Service. Borrowers may apply for PLUS Loans beginning on June 1st for each upcoming academic year.  

Plan Ahead

  • Keep track of borrowing each year - Visit to view your federal student aid history and get federal servicer's contact information. Borrowers can also get details of institutional loans on Banner Self Service.
  • Complete Exit Counseling before leaving school - Exit Counseling is a mandatory requirement whether you are taking a leave of absence, withdrawing, graduating, or enrolling less than half-time.
  • Grace Period- Loans enter a grace period when you leave school. No payments are required, but it's a great time to pay down your debt and reduce your overall cost of repayment. It's also a good time to make decisions about loan repayment, get to know your servicers, and set up online account access. 
  • Repayment - You want to be prepared before your loans enter repayment.