Loan Requirements

Completing Loan Requirements

Once you accept loans through Banner Self Service, all Unsatisfied Requirements will be displayed. Watch for emails from the Loan Office with detailed instructions on how to complete requirements.  You may also locate your unsatisfied requirements by choosing the Financial Aid tab, the appropriate student level, the appropriate Aid Year, and choosing the Requirements tab.

Loan Type Requirement Frequency Method
Subsidized & Unsubsidized Loans Entrance Counseling & Master Promissory Note first time borrower, remains valid up to 10 yrs must be completed online at StudentLoans.gov
PLUS Loans See PLUS Application details
Perkins Loans Entrance Counseling & Master Promissory Note first time borrower, remains valid up to 10 yrs completed online, borrowers will receive an email from the Loan Office once materials are ready to be completed.
Institutional Loans Truth in Lending Disclosures, Entrance Counseling & Promissory Note each year or any time loan amount increases completed online, borrowers will receive an email from the Loan Office once materials are ready to be completed

Details

Entrance Counseling: The entrance counseling session will provide useful information and tools to help you manage your student loans both during and after college, and provide information on your rights and responsibilities as a borrower. 

Master Promissory Note: By signing  the MPN, you are confirming your understanding that Brown University may make multiple loans for you for the duration of your education (up to ten years) without having to sign another promissory note.  You are also agreeing to repay all loans made to you under the terms of the MPN.

Promissory Note:  By signing the promissory note, you promise to pay back to Brown University all loan amounts disbursed while enrolled at Brown plus interest accrued.

Truth in Lending Disclosures:  The disclosures are intended to promote the informed use of consumer credit by requiring disclosures about its terms and cost.