You must complete a Direct Loan Master Promissory Note (MPN). Although you may have previously signed an MPN to receive FFEL or Direct Loan Program loans for another institution, these MPNs cannot be used to make Direct Loans at our school.

The MPN is the legal document through which you promise to repay your Direct Loans and any accrued interest and fees to the Department. It also explains the terms and conditions of your loans. You will need to complete a new Direct Loan MPN each academic year that you receive a Direct Subsidized Loan and/or a Direct Unsubsidized Loan at our school.

• You may complete a Direct Loan MPN electronically via the StudentLoans.gov website
• To complete a Direct Loan MPN electronically, you must have a Federal Student Aid ID. This is the same ID used to complete the FAFSA.
• After you complete your MPN, you will be able to print and retain it for your records. You do not need to provide us with a copy as we can access the MPN electronically.
  
  

Note: You also have the option to complete a paper Direct Loan MPN. To do so, call the Department's Applicant Services staff at 800/557-7394 and then return the completed paper MPN to the Department at the address included in the instructions that will be provided to you. You will need to notify us that you are completing the MPN by paper.

If you are an undergraduate or graduate/professional student and have not previously received a FFEL Stafford Loan, Direct Subsidized Loan, or Direct Unsubsidized Loan, you must complete Direct Loan Entrance Counseling before you can receive a Direct Loan.

• You may complete Direct Loan Entrance Counseling electronically via the StudentLoans.gov website
• To complete Direct Loan Entrance Counseling electronically, you must have a Federal Student Aid PIN. This is the same PIN used to complete the FAFSA.
• After you complete entrance counseling, we can access the information electronically.
• You need to ensure you are completing the counseling for the same loan period as your academic period.

To qualify for a Direct PLUS Loan, you must not have an adverse credit history, as defined in the Department's regulations.  If you have an adverse credit history, you may still be eligible for the loan:

1) By obtaining an endorser who does not have an adverse credit history and agrees to repay the loan if you do not, or

2) By documenting extenuating circumstances that meet the Department's requirements.

The Department conducts a credit check once you provide your consent.  The Federal Direct PLUS Request for Supplemental Information (Direct PLUS Request) provides us with your authorization to conduct the credit check and other necessary information, in one streamlined, up‑front process.

• You may complete a Direct PLUS Request electronically via the StudentLoans.gov website
• To complete a Direct PLUS Request electronically, you must have a Federal Student Aid PIN. This is the same PIN used to complete the FAFSA.
• After you complete your Direct PLUS Request, the Department will conduct the credit check and notify you and us of the results.
• You need to ensure you are completing the loan request for the same loan period as the academic period.

Note: If your credit check results in an adverse credit history determination, you will receive information from the Department about the endorser and extenuating circumstance options. If you are a parent and neither of these is a viable option, your dependent student may be eligible to receive additional Direct Unsubsidized Loan funds.

Please email financial.aid@acadiau.ca the following information. Indicate whether these costs are US or Canadian dollars.

1. Any financial aid that you are receiving for the academic year, including but not limited to grants, scholarships, fellowships, other loans, etc.  (amount and source)
2. Laptop make, model and total purchase cost (if you are purchasing one for this academic year and wish the cost to be included in your estimated cost of attendance)
3. The amount of the Direct Loan you are requesting
4. The amount of the Direct PLUS Loan your parent is requesting

Annual Loan Limits