Summer Stafford Loan Acceptance Agreement

Student Information Student Name

Student ID # Daytime Phone

Financial Aid Information

Check all of the following that apply

For more information about loan types see Loan Information below.

I accept the Subsidized Stafford Loan/Unsubsidized Stafford Loan as indicated on my Award Notice.

I wish to reduce the Subsidized Stafford Loan. Reduce loan to $

I wish to reduce the Unsubsidized Stafford Loan. Reduce loan to $

I wish to decline the Unsubsidized Stafford Loan only

I wish to decline the entire Subsidized Stafford Loan/Unsubsidized Stafford Loan.

Expected Date of Graduation Semester Year

Entrance Counseling

If this is your first Stafford Loan/Unsubsidized Stafford Loan at McNeese, you must complete student loan counseling on the Internet at www.mcneese.edu. Once at the MSU homepage, click on Current Students, then click on Office of Financial Aid, then Stafford Loan Information, and finally Entrance Loan Counseling. If you have any problems, contact our office at (337) 475-5065 OR 1-800-622-3352, ext. 5065. You must complete this counseling before any disbursements can be made.

Summer Only Students

Federal student loans will be issued in 2 disbursements during your one semester of attendance. Refer to your disclosure statement to note your disbursement dates or contact our office.

Mini Session Courses

Federal financial assistance (grants and loans) is paid on attending hours. Students enrolled in mini sessions may not be eligible for their full disbursement until subsequent mini-sessions begin.

Enrollment Status

All students must be enrolled at least half time 6 hours in courses eligible for financial aid each semester to be considered for all federal financial aid programs. If you are enrolled less than half time, you will only be considered for the Federal Pell Grant Program

I certify that the information on this form is true and correct by signing with either an original or electronic signature.

Student's Signature: ________________________________________ Date:

Complete, print, and return completed form to:

Office of Financial Aid
Box 93260 MSU
Lake Charles LA, 70609
Phone: (337) 475-5065
Fax: (337) 475-5068
E-mail: finaiddocs@mcneese.edu

Loan Information

Subsidized Stafford Loan

The U.S. Department of Education pays the interest for a Federal Subsidized Stafford Loan while the borrower is in school and during grace and deferment periods; you must be at least a half-time student. Interest rates can change yearly, check with the Office of Financial Aid for rates. Repayment of the principal and interest begins 6 months after the student ceases to be enrolled at least half time.

Unsubsidized Stafford Loan

On an Unsubsidized Stafford Loan, the borrower is responsible for interest during the life of the loan; you must be at least a half-time student. The interest can either be paid monthly or quarterly, or be capitalized (added to the loan principal), which increases the total repayment amount. The interest rate can change yearly, so check with the Office of Financial Aid for rates. Repayment of the principal and interest begins 6 months after the student ceases to be enrolled at least half time.

How to claim you award

All financial aid recipients must sign a financial aid authorization each semester to authorize the Business Office to use the financial aid awards to assist in covering expenses. A financial aid authorization must be signed even if you have a zero balance on your statement of account.

Federal Subsidized Stafford/Unsubsidized Stafford Loan

First-time borrowers must complete entrance loan counseling on the Internet.
All borrowers must sign the Loan Acceptance Agreement Form and return it to the Financial Aid Office.
All borrowers must have a signed Master Promissory Note on file with the U.S. Department of Education. Please visit the McNeese Financial Aid web site, click on the Stafford Loan Information link and next click on E-sign for Master Promissory Note (MPN).
Entering freshmen have 30 days before money can be disbursed.
Awards will be disbursed to student accounts automatically, and then refunded based on the preference you selected with Higher One.

Note: The Business Office will process refund checks for all financial aid awards that have been disbursed to student accounts and have a credit balance. The Business office will then send the refund information to Higher One. Higher One will issue refunds based on your selected preference.