Direct Loan Process
Federal Direct Subsidized & Unsubsidized Loan:
- Accept your Direct Subsidized and/or Unsubsidized loans on WebAdvisor. If you wish to borrow less than the amount indicated on WebAdvisor, you must submit your request in writing to the Office of Financial Aid.
- Submit all requested documents and information to the Office of Financial Aid. Once your file is complete, we will electronically originate your Direct Stafford loan.
- All Willamette borrowers MUST complete a Direct Subsidized/Unsubsidized Loan Master Promissory Note (MPN). This process can be completed online at studentloans.gov. You will need your federal PIN to electronically sign your MPN. This is the same PIN you use to sign the FAFSA. More information on your PIN is available online at http://www.pin.ed.gov. One MPN will cover all future Direct Subsidized/Unsubsidized loans taken while a student at Willamette University.
- Complete an Entrance counseling Session. This can be done online at studentloans.gov.
- Loan funds will be credited to your student account at Willamette at the start of each semester. Loan funds will first be applied to outstanding tuition and fees; a refund will be issued if there is a credit balance remaining on your account.
Federal Direct Parent PLUS Loan:
Please note: Federal Direct Parent PLUS loans are subject to credit approval.
- File the Free Application for Federal Student Aid (FAFSA). Please ensure that Willamette (Federal School Code 003227) is listed as on of the schools to receive the FAFSA information.
- Complete and submit a Parent Borrower Form for the appropriate year to the Office of Financial Aid. This form authorizes our office to perform a credit check on your behalf.
- Complete a Master Promissory Note (MPN). This should be completed by the parent borrower.
- The Department of Education will notify us of your credit approval. After receiving this notice, we will electronically originate your loan. When the Department of Education receives both your signed MPN and our origination, your loan funds will be scheduled for disbursement to your student account at Willamette. Loan funds will first be applied to outstanding tuition and fees; a refund will be issued if there is a credit balance remaining on your account.
Please Note: Willamette University CAN NOT certify any student loans for you after you cease to be enrolled.