Next Steps for New Stafford Loan Borrowers
Federal School Code: 001316
1. Promissory Notes - If your financial aid award includes a Federal Direct Stafford Loan and you are a new borrower, you will need to complete an electronic Master Promissory Note online at www.studentloans.gov. Your promissory note is a multi-year note designed to cover the maximum loan amount you are eligible to receive for all years of enrollment at UCR. You will receive a disclosure statement each year identifying the exact amount disbursed to you.
This requirement applies to:
1) new freshmen and transfer admits,
2) continuing undergraduate students who have not borrowed Stafford Loan funds previously,
3) graduate students who have not borrowed Stafford Loan funds previously.
Repeat borrowers who have submitted a promissory note in a previous award year do not need to complete a new Master Promissory Note.
2. Loan Entrance Counseling - All Federal Direct Stafford Loan recipients who are borrowing for the first time at UCR are required to complete pre-loan (entrance) counseling prior to disbursement of your loan funds. Pre-loan counseling is available online at www.studentloans.gov. We recommend that you access this website to complete loan entrance counseling as soon as possible. No loan funds will be applied to payment of fees or disbursed in financial aid refunds until loan entrance counseling has been completed. Questions regarding pre-loan counseling may be directed to the Student Business Services Office at (951) 827-3200.
If you wish to use your Stafford Loan funds to pay your fees, please complete these steps no later than the following dates:
Fall: September 1
Winter: December 1
Spring: March 1