How can I check the status of my Loan?

To be considered for a Student Loan students must complete Entrance Counseling and electronically sign a Master Promissory Note at: https://studentloans.gov or log into Backpack, go to the Financial Aid Home section and under “Checklist” select the link to “Complete Direct Loan Entrance Counseling” and “Sign a Direct Loan Master Promissory Note”. Once in the studentloans.gov website select “Log In” and enter user name and password (same log in information used to complete the FAFSA). If you can’t remember the user name and/or password then select “forgot username or password”. You must select Mott to receive notification when completing the Entrance Counseling. Conditions for loan eligibility: 1. Demonstrate need 2. Be a degree-seeking student (eligible Program of Study) 3. Have a valid Social Security number 4. Be a U.S. citizen or eligible non-citizen 5. Register with the Selective Service, if required 6. Have a high school diploma or GED 7. Must be registered half-time (6 credit hours) 8. Not in Default on a prior student loan or a Pell over award. 9. Must have valid current year Student Aid Report (FAFSA) on file at Mott. Why some students do not receive loans: 1. Not eligible for Title 4 funding 2. Did not meet conditions of loan eligibility listed above 3. No need in budget. 4. Not enrolled in an eligible program of study 5. Prior Default or Pell over award 6. Loans are suspended due to violation of Satisfactory Academic Progress (SAP). 7. Student attempted to borrow at two schools at the same time. 8. Student was unsubsidized loan only eligible and said NO to the question of “Willing to accept unsubsidized Stafford Loan” 9. Student at or exceeded either their annual or aggregate loan level limits. 10. Loans could be returned for poor or non attendance. 11. Convicted of a drug offense 12. Did not complete one or more of the following steps: a. Electronic Promissory note b. Direct Loan Entrance Counseling Once you have been awarded your loan you can view your award out through Mott's website under Backpack. "Loan funding generally is not released to Mott until the 6th week of the semester." How to Check Lifetime History of Financial Aid Usage: • Students can view their federal loans, grants, and aid overpayments at: www.nslds.gov or log into Backpack, go to the Financial Aid Home section and under “Helpful Links” select the link for “NSLDS Information”. From here select “Financial Aid Review” then select “Accept” and enter your user name and password (same log in information used to complete the FAFSA). If you can’t remember the user name and/or password then select “forgot my username or password”.
Published on: 2018-06-06 See other articles in FA Hold, Award, Financial Aid.