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5. Applying for Federal Loans

In addition to accepting a loan on the online award letter, a student must complete the promissory note for each program as well as entrance counseling. Students should refer to their “To Do Item History” on myUChicago Portal to determine which required materials are missing.

The Law Financial Aid Office will process only the loan amounts accepted on the online award letter.

Each loan requires a separate promissory note, however entrance counseling, which is also required for the federal loan programs, is combined for the Federal Direct unsubsidized Stafford and Graduate PLUS Loans. A Graduate PLUS borrower who has adverse credit history and satisfactorily has documented extenuating circumstances to the Department of Education or is borrowing the loan with an endorser must complete separate PLUS counseling, in addition to entrance counseling.

Note - Students are unable to accept the Grad PLUS loan.  The Law Financial Aid Office (LFA) accepts the Grad PLUS loan on the student’s behalf.  Your first step is to log into the myUChicago Portal to accept the Unsubsidized loan.  If you plan to borrow from the Grad PLUS loan, please submit a Grad PLUS loan application at www.studentaid.gov. 

Borrowers who have questions about the Federal Graduate PLUS Loan credit decision or who believe that the decision was made in error should contact the Department of Education at 1-800-557-7394.

Applying for the Federal Direct Unsubsidized Stafford and Graduate PLUS Loans

  1. Complete the Master Promissory Note (MPN), a multi-year document that does not need to be completed every year, for each loan at the Direct Loan website (https://studentaid.gov/mpn/grad/landing) using the FSA ID used to complete the FAFSA. On the website, the borrower will be directed to select an institution (labeled “school” on the website). Law students should select: UNIVERSITY OF CHICAGO (THE) – School Code/Branceh: G01774, 5801 SOUTH ELLIS AVENUE, CHICAGO, IL 606371476. Note that the borrower will have to list the driver’s license number as well as information about two references on each MPN.

    First-year students who borrowed previously while attending either another institution or a program at The University of Chicago must complete a Direct Stafford Loan MPN/Direct Graduate PLUS MPN for attendance at Law. Second and third-year students who borrowed during the first year at the Law School do not have to complete a second set of promissory notes.

 

  1. Complete the online counseling session at: https://studentaid.gov/app/counselingInstructions.action?counselingType=entrance (Complete Entrance Counseling). Select student type “graduate/professional student” and add: UNIVERSITY OF CHICAGO (THE) – School Code/Branceh: G01774, 5801 SOUTH ELLIS AVENUE, CHICAGO, IL 606371476 as the school to notify.

    First-year students who previously completed entrance loan counseling while in attendance at another institution or at another program at The University of Chicago must complete an online counseling session for Law. Second and third-year students who borrowed during the first year at the Law School do not have to complete another entrance counseling session.

 

  1. Complete the Graduate PLUS loan application (if applicable) at:  https://studentaid.gov/plus-app/grad/landing (Apply for a Graduate/Professional Student PLUS Loan).