Loans

New loan information

Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education though the entity with which you deal -- your loan servicer can be a private business.

With Direct Loans, you:

  • Borrow directly from the federal government and have a single contact - your loan servicer - for everything related to repayment, even if you receive Direct Loans at different schools.
  • Have online access to your Direct Loan account information via your servicer's website.
  • Can choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change.

Need to complete a Direct Loan Request Form? Click here PDF.

  • Entrance Counseling: If you need to complete your Entrance Counseling, click here.
  • Complete Your Master Promissory Note (MPN): If you need to complete your MPN, click here.
  • Exit Counseling: You are required to complete Exit Loan Counseling within 30 days from the time you dropped below half time (6 credits), ceased enrollment, or graduated. To do your Exit Counseling, click here.

Alternative Education Loans -- Eastern Gateway's Financial Aid Office has information and applications for several third-party alternative loans. The loans are negotiated between the student and the bank and often times a credit check is required for approval. Students may borrow up to the cost of their education less any financial aid received and approval is solely at the lending institution's discretion. Students may contact the Financial Aid Office for a loan application and information.