<p>I received a total of $5500 loan from USC. (Federal direct (un)subsidized Stafford Loan)<br>
Do we have any special registration or application to "successfully" apply for the loan? Or do we just do nothing because USC will do everything for us?</p>
<p>There are some forms you have to fill out next August, online I believe. No biggie. Email the finaid office your question and it will be answered in a day or two with details.</p>
<p>you’ll need to attend a loan entrance counseling session as well as fill out a master promissory note (MPN). be proactive when you get to school in august about these things and you’ll be fine.</p>
<p>USC does a great job of taking you through the loan process, and it should be even easier this year because they are a direct lender and you no longer have to choose a lender. There should be a “Stafford Loan Request” in your paperwork. If not, here it is <a href=“http://www.usc.edu/admission/fa/private/docs/1011/LRS201011v2.pdf[/url]”>http://www.usc.edu/admission/fa/private/docs/1011/LRS201011v2.pdf</a> . Fill it out and FAX or mail to the financial aid office. As jose and dt say, you will have to do online loan counseling (they ask if you understand that loans must be paid back about twenty different ways) and fill out a MPN online. After you arrive on campus you will have an in-person meeting where they will once again ask you if you understand that loans must be paid back.</p>
<p>So get the Stafford request in now and follow up in mid-June about the online counseling and MPN.</p>
<p>Thank you very much! =] but I have one more question. What is a MPN?</p>
<p>It is a Master Promissory Note. It is the document you sign “promising” to pay the money back. It is a “master” because you will sign one now and it will be used for your loans all four years - you won’t have to do another each year. (You will do a new Stafford loan request each year though, so they know how much you want to borrow.)</p>
<p>Here is some info about MPNs [Direct</a> Loans—Master Promissory Notes and Associated Documents](<a href=“http://www.direct.ed.gov/mpn.html]Direct”>http://www.direct.ed.gov/mpn.html) but this is just for info - there is nothing you need to do right now other than fill out a loan request. USC will direct you to a link when it is time to do your on-line loan counseling and sign the MPN.</p>
<p>If I decide not to accept the loans, should I tell them, or should I just not fill out the forms?</p>
<p>Just don’t fill out the forms. And if it turns out later in the school year you feel you do need some of the loan money, you can request it then.</p>
<p>You can also request a lower amount than you have been offered, or just the subsidized loans and not the unsubsidized.</p>
<p>Okay, thanks!</p>