Guide: Federal Direct Borrowing

A Step-by-Step Guide on Federal Direct Borrowing

Step 1 · Determine your Intent to Borrow Federal Loans (Choose one)

  1. I intend to use funds from the Federal Direct Loan programs.
    Students and/or parents who intend to accept loan funds from one or more of the Federal Direct Loan
    programs must complete various items which pertain to your borrowing status for the upcoming academic
    year to finalize the borrowing process, detailed below.
  2. I do not intend to use funds from the Federal Direct Loan programs.
    Students who do not intend to use funds from the Federal Direct Loan programs to cover the expenses they
    may incur during the academic year must decline the loan(s) that were offered to them in their SUNY
    Poly financial aid package.

Step 2 · Review the Recommended Timeline to Complete Loan Requirements 

  • FALL SEMESTER · April 1 - June 1 
  • SPRING SEMESTER · October 1 - December 1

Step 3 · Review the Required Actions Based on Borrower + Loan Type

Undergraduate Student Loans
 Student BorrowerParent Borrower
Loan TypesFederal Direct Subsidized Loan 
Federal Direct Unsubsidized Loan		Federal Direct Parent PLUS Loan
Next Steps
  1. Accept the student loan(s) offered to you in your SUNY Poly financial aid package
  2. Go to www.studentaid.gov
    1. Click on the “In School” tab
    2. Complete Loan Entrance Counseling
    3. Complete the Master Promissory Note/MPN (Loan Agreement)
  1. Go to www.studentaid.gov
    1. Click on the “Parent” tab
    2. Click on “Apply for a Parent PLUS Loan” and complete the credit application (If denied, please see options on reverse)
    3. Complete the Master Promissory Note for a Parent PLUS Loan
Graduate Student Loans
 Federal Direct Unsubsidized LoanFederal Direct Parent PLUS Loan
Next Steps
  1. Accept the unsubsidized student loan
    offered to you in your SUNY Poly financial
    aid package
  2. Go to www.studentaid.gov
    1. Click on the “In School” tab 
    2. Complete Loan Entrance Counseling
    3. Complete the Master Promissory Note/MPN (Loan Agreement)
  1. Go to www.studentaid.gov
    1. Click on the “In School” tab
    2. Click on “Apply for a PLUS Loan for Graduate School” and complete the credit application
      1. If denied, re-apply with a creditworthy co-signer (referred to as an “endorser.”)
    3. Complete the PLUS MPN for Graduate/Professional Students
    4. Complete Graduate Plus Loan Entrance Counseling

Important Note for Graduate Student Borrowers

Graduate student borrowers must apply for a Graduate PLUS Loan each academic year, as a credit check is required annually. An approved credit check is good for 180 days. Graduate borrowers should be mindful of the timeline to complete loan requirements to ensure the credit period does not expire before the Financial Aid Office has processed the loan.

Frequently Asked Questions

What happens if an undergraduate parent borrower is denied a Parent Plus Loan?
If a parent borrower is denied, they may elect to:

  • Have another parent (if applicable) apply for a Federal Direct Parent PLUS Loan
  • Re-apply with a credit-worthy co-signer (referred to as an “endorser.”)
  • The undergraduate student will be eligible to receive additional unsubsidized student loan funds. The student must email
    finaid@sunypoly.edu from their SUNY Poly email account to request the additional unsubsidized loan.

Where can I direct questions or concerns about completiting the loan requirements? 

Where can I find instruction on how to accept loans in a SUNY Poly Financial Aid Plan? 

  • Please find step-by-step instructions on how to accept student loan(s) offered in the SUNY Poly financial aid plan online.
How To: Accept Student Loans

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