Federal Stafford Loan InstructionsThe Stafford Loan Master Promissory Note (MPN) serves as your application. The MPN does not need to be completed every year, but previous borrowers may need to complete the MPN again if a significant amount of time has passed since they last applied. Instructions are provided below for first-time borrowers and for previous borrowers. First-time Borrower InstructionsStudents who apply for need-based financial aid will automatically be considered for the Stafford Loan program. Those who do not wish to apply for need-based aid but who want to borrow an Unsubsidized Stafford Loan must complete a FAFSA to determine eligibility. 1. You will receive an award notice via e-mail. The award notice will indicate your Stafford Loan eligibility. 2. Select a lender When accepting your award notice on the Accept/Decline Financial Aid Award web page in CAESAR, select a Stafford Loan lender. It is important to note that the lender is the institution from which the money is borrowed, but the interest rates and terms of the loan are set by the U.S. Department of Education. Therefore the real difference among lenders is measured in terms of customer service, fees, savings programs, and repayment options. We offer a Preferred Lender List for those who would like assistance making a choice. The Office of Financial Aid will certify a Stafford Loan with any lender you select. If you borrow from a lender that is not on the Preferred Lender List, you must select "Other" on your Accept/Decline Financial Aid Award web page in CAESAR. 3. Complete the MPN on your chosen lender's website. If you borrow from a preferred lender: About two weeks after you submit your online award notice, you will receive an e-mail from the lender you chose in CAESAR. This e-mail will be sent to your NU e-mail account and will inform you of the steps needed to complete and e-sign your online Federal Stafford Loan Master Promissory Note (MPN) on your lender's web site. Note that the MPN does not ask for a loan amount or loan period. This is because it is designed to serve as a promissory note for both current and future Stafford borrowing. Each year, the Office of Financial Aid will process your Stafford Loan for the amount that you have indicated you wish to borrow. If you borrow from a lender that is not on the Preferred Lender List, you will need to download a paper MPN (pdf). Follow these instructions when completing the paper MPN: - Use ink.
- Driver's License Number (Item 6): Provide number or write "N/A" if you do not have a driver's license. Do not leave the field blank.
- References (Item 10): Complete this information fully. Each reference must have a different U.S. address. A P.O. Box address may only be used if mail delivery is in a rural area.
- Interest Payments (Item 12): Check the box to begin paying interest while in school. This is applicable only to Unsubsidized Stafford Loan amounts. Interest charges will begin immediately upon loan disbursement, and must either be paid or capitalized (added to principal). If you do not check the box, your unsubsidized interest will automatically be capitalized. This will increase your total loan debt, as interest will accumulate upon interest.
Return your completed MPN to:
Office of Financial Aid, Chicago (C315)
710 N. Lake Shore Drive, Room 629
Chicago, IL 60611-3078
Phone: (312) 503-8722
Fax: (312) 503-8700 4. Complete your Entrance Interview on the Mapping Your Future website.
From the Mapping Your Future home page, complete these steps: - Click on the "Online Student Loan Counseling" Link.
- Select "Illinois" from the list of available states.
- Select "Northwestern University – Evanston, IL" from the list of participating institutions. (Feinberg, Law, Physical Therapy, Prosthetic-Orthotics and SCS only)
- Follow the instructions, reading all of the information presented and answering the questions.
- Fill out the student information form.
Upon completion of the interview, you will receive a confirmation number, which you should keep for your records. In the event that an error is encountered when transmitting your data to Northwestern, the Chicago Office of Financial Aid will need the number to retrieve your information. 5. The Office of Financial Aid will process the Stafford Loan If a mid-year adjustment results in increased Stafford eligibility after your initial loan has been processed, you must confirm your acceptance of the additional amount before we will process the increase.
In most cases, if you have borrowed from the Federal Stafford Loan program during the prior academic year, you do not need to complete another MPN. A few situations would require a Previous Stafford Loan borrower to complete another MPN: - You decide to change your Stafford Loan Lender.
- 12 months has elapsed since your last Stafford Loan disbursement.
- You are changing degree programs (e.g., changing from an undergraduate to a graduate/professional degree program.)
If you are uncertain if you need to complete the Stafford MPN again, you can check "comments" in step 4 of your Financial Aid Award Notice e-mail. If you do not need to complete a new MPN: 1.You will receive an award notice that indicates your Stafford Loan eligibility. Indicate the amount you wish to borrow and accept the award in CAESAR. Unless you indicate a different amount, the Office of Financial Aid will process the Stafford Loan for the full amount you were offered.
2. The Office of Financial Aid will process your Stafford Loan. If you do need to complete a new MPN: 1. You will receive an award notice that indicates your Stafford Loan eligibility. Indicate the amount you wish to borrow and accept the award in CAESAR.
2. Download a paper MPN (pdf). For instructions on how to fill out the MPN, follow the steps outlined for First-Time Borrowers in step 3, above.
3. The Office of Financial Aid will process your Stafford Loan. | 
