Loan Requirements

Requirements Information

First Time Borrowers must complete two one-time requirements, as well as a new annual requirement before a federal student loan can pay toward their student account:

Entrance Counseling is a tutorial that tells you all of the important details you need as an informed borrower - including interest rates, fees, and repayment information.

The Master Promissory Note (MPN) is your legal contract to repay the government once you graduate or drop below half-time attendance.  

NEW for 2021-2022:

Annual Requirement - ALL Federal Loan Borrowers must complete the Annual Student Loan Acknowledgement each academic year before a federal direct loan can be paid. This applies to undergraduate borrowers, parent borrowers for the Parent PLUS loan, and Graduate borrowers.

Direct Loans

Important: You will be prompted to enter your FSA ID to complete these requirements. If you have not already created an FSA ID, please follow the instructions to create one. You will not be able to complete this counseling without an FSA ID.

If you are a First Time Borrower who has accepted a Direct Loan (Subsidized and/or Unsubsidized) or plans to, you must complete Entrance Counseling and a Master Promissory Note (MPN):

1. LOG IN at https://studentaid.gov
2. Select the “Complete Aid Process" dropdown.
3. Select "Complete a Master Promissory Note (MPN)".
4. Select "Complete Loan Entrance Counseling".

ALL Borrowers who have accepted a Direct Loan (Subsidized and/or Unsubsidized, Parent PLUS, or Graduate PLUS) or plans to, must complete the Annual Student Loan Acknowledgement each year:

1. LOG IN at https://studentaid.gov
2. Select the “Complete Aid Process" dropdown.
3. Select "Complete Annual Student Loan Acknowledgement".

Please note that missing loan requirements for Fall 2021 will not be satisfied in MyFSU until early June, 2021. If you have already completed the Direct Loan Entrance Counseling, Master Promissory Note or Annual Student Loan Acknowledgement, please disregard any missing requirement emails for these items until that time.

Nursing/Health Professions Loans

• Sign in at SignMyLoan.com once you receive emailed instructions to complete loan requirements.
• First time recipients of the loan must "Create Online Account", returning users can use their previous Username and Password.
• When Creating Online Account, refer to this Instruction Sheet for specific instructions and important tips!
• The FSA ID is not valid on the UAS website.

Click Here for Exit Counseling

Average Loan Debt of 2019/2020 Ferris graduates according to degree level

Degree	Debt
Associate	$16,656
Bachelor	$23,261
Master	$43,121
Doctorate	$113,545