<p>I’m a transfer student. I check MyAwards and found that I cannot accept the Fed. Direct loan Sub. offered by UC Davis. I already submitted the MPN electronically. So, what should I do? Are they gonna process my MPN in June or what?</p>
<p>“Requirements for Federal Direct Loan Sub-NH
Requirement Status
Direct Loan Master Promissory Note Information Not Satisfied”</p>
<p>And they say
"Processing Timeline</p>
<p>· The Financial Aid Office will begin processing completed and approved Master Promissory Notes electronically in late June for loans that have been accepted.</p>
<p>· After September 30, completed and approved Master Promissory Notes will be electronically processed within three to five business days for loans that have been accepted."</p>
<p>Same problem. I think the June date they give means that is when they’ll let us know whether our loan was approved. . . which sucks if one was accepted to another UC with less loan amount and it would be too late to SIR.</p>
<p>Can you guys see Cal Grants in your aid package? Mine is absent; it’s not even estimated to be in there. </p>
<p>I recommend not accepting loans until right before you have to. When you receive a loan it decreases your need and it can disqualify you from any free aid you might receive in the mean time (such as Cal Grants, if they’re not already in your offer).</p>
<p>I’m going to chat with an FA officer on monday. But I’m pretty sure once you take out the loan, the amount is deducted from your need – they don’t reduce the loan should you become eligible for other types of aid.</p>
