Steps to completing Entrance Counseling and Master Promissory Note


Step 1:  Visit
Step 2:  Log in using your FSA ID or email and password.
Step 3:  Under My Check List click on I'm in School then select Complete Entrance Counseling (first-time borrowers only).
Step 4:  Choose Entrance Counseling as an Undergraduate Student and complete all sections.
Step 5:   Once the Entrance Counseling section is finished, complete the loan agreement for a subsidized/unsubsidized loan(MPN).

Step 6:
  Sign, date and return one copy of your Financial Aid Offer to the Financial Aid Office. 
Your signed aid offer gives us permission to process federal loan(s) on your behalf.
The Federal Student Loans Basics For Students brochure will answer many questions you may have about the Federal Direct Student Loan programs.


Steps to Complete a Direct PLUS Loan for Parents

Step 1:   Visit
Step 2:   Parent logs in using their FSA ID or email and password.
Step 3:   Scroll down to My Checklist, select I'm a Parent and click on Apply for a Parent PLUS loan.
Step 4:   Complete and submit the credit application. You will be notified immediately of the credit decision.
Step 5:    Your credit check remains active for 180 days only.  Another credit check will be performed if your loan application is certified by the college after 180 days has lapsed.  If approved, complete the Loan Agreement for a Parent PLUS Loan (MPN).
The Direct PLUS Loan Basics for Parents brochure will answer many of your questions you may have about the Direct PLUS loan. 


Not sure if your parent will qualify for a Direct PLUS Loan? Review the requirements at: 

(.pdf, 41K)

Alternative Loan Self Certification

If you are borrowing in an alternative loan program, the Private Education Loan Applicant Self-Certification form must be completed and returned to your lender before your loan funds can be disbursed.

(.pdf, 186K)

Student Loan Counseling Tools

This document provides information on federal loan programs.

(.pdf, 154K)

This brochure will help guide you through the basics of responsible borrowing. 

(.pdf, 1294K)

This guide will assist you with questions you may have during your entrance counseling session.

(.pdf, 16467K)

This guide will assist you with any questions you may have with your Federal Direct Loan, including repayment options, deferments, forbearance and loan consolidation.

(.pdf, 13127K)
A loan servicer is a company that the Department of Education assigns to each borrower to handle billing, repayment options and other services for your Direct Loan. To determine where your federal loans are being serviced, please visit  Servicers that are currently contracted with the Department of Education are:

Loan Servicer






Mohela Federal 





Federal Perkins Loan


Heartland ECSI


Default Resolution Group- For Perkins loans submitted for collections with the Dept. of Education


The Department of Education may need to transfer your loan to a different loan servicer.  If this transfer occurs, your loan will still be owned by the Department of Education - it is just that you will be working with a different agency to make payments, change payment options, etc.
Per the website ( )if your loan is transferred to a new servicer:
  • You will receive an email or a letter from your assigned servicer to inform you about the transfer.

  • You will receive a welcome letter from the new servicer after the new servicer receives your loans. This notice will provide you with the contact information for the new servicer and inform you of actions that you may need to take.

  • All of your loan information will be transferred from your assigned servicer to your new servicer, but you may only be able to see online information that covers the period since your new servicer took your loans over.

  • There will be no change in the terms of your loans.

  • Your previous loan servicer and new loan servicer will work together to make sure that all payments you make during the transfer process are credited to your loan account with the new servicer.

After you receive the welcome letter from your new servicer, you should do the following:

  • Begin sending your loan payments to your new servicer. If you use a bank or bill paying service to make your loan payments, update the new servicer’s contact information with the bank or bill paying service.

  • Follow the new servicer’s instructions for creating an online account so that you can more easily communicate with the new servicer and keep track of your loan account.

FSA Student Loan Ombudsman:  Borrowers may contact the FSA Student Loan Ombudsman if they are experiencing any challenges or disputes with their loan servicing agency.  This is a free service that may assist you in resolving any complaints you may have with your federal loan servicer.
U.S Department of Education
FSA Ombudsman Group
P.O. Box 1843
Monticello, KY 42633
Phone:  877-557-2575
Fax:  606-396-4821

Loan Forgiveness/Cancellation

Wells College recommends that students exhaust their federal and/or state financial aid resources first before considering other financing options with the use of the Free Application for Student Aid (FAFSA).  The reasons we request students complete the FAFSA are:


·        to determine if your are eligible for grant (non-loan) funds
·        to offer the least expensive student financing options through the Federal Loan Programs  

After exhausting all federal, state and institutional funds, many students are still left with educational costs.  To assist students in paying for these expenses, banks and lenders provide private alternative educational loans. 



Alternative (Private) Loans are in the student’s name.  You have a right to use the lender of your choice.   If the alternative loan program you choose requires a school certification, the student can borrow up to the cost of enrollment .    

Private education loan programs:

  • Are not government-sponsored
  • Are not regulated on interest rates, deferment or payment options
  • Often require a co-signer
  • Interest rates are determined by the lender (typically depend on borrower and co-borrower’s credit worthiness)
  • Fees are determined by the lender (typically depend on borrower and co-signer’s credit worthiness)
We strongly recommend that you carefully read the terms of your Alternative Loan to know exactly what costs will be involved.  We also recommend that you contact the lenders directly for any questions you may have so that you fully understand what will be required and what total you will be repaying. 


Loan Resource Links

Direct Stafford Loan borrowers may visit this website to download deferment, cancellation and hardship forms.

Below are ways you may cancel all or a portion of your student loan.

Before Your Loan Is Disbursed
Before your loan is disbursed, you can cancel all or part of the loan at any time by notifying the Financial Aid Office.  

After Your Loan Is Disbursed
After your loan is disbursed, you can cancel all or part of it by signing a revised financial aid offer indicating your decline or reduction of loan programs.  This request needs to be made prior to the end of the enrollment period. You won’t be charged interest or fees on any portion of a loan that’s cancelled within 120 days of the disbursement date.

You have the right to turn down a loan or to request a lower loan amount. If you accept less than the full amount of the loan you’re offered, you may increase the amount (up to the offered amount) later on.

This site will allow you to check the status of your loan(s) and disbursements made.  You will need to use your FSA ID to access this site.

Direct loan borrowers can review all income based repayment options that are currently available on their Direct Loans.

Find out what your options are in the event you have defaulted on your federal student loan.

This link will bring you to the Federal Loan Deferment Request forms and more.

Heartland ECSI (formerly Campus Partners) is the servicer for the Federal Perkins Loan program.  This site will allow you to download forms and check the status of your Perkins Loan account.
There are several different repayment options to consider when you are paying back your Federal Direct Loan(s).  To help you choose your student loan repayment option, visit
Remember, your monthly payments and how long it takes to satisfy your loan depends on the repayment plan you choose.
To compare the different repayment options, visit the Loan Simulator at Income based repayment options are based on your overall federal loan debt, income and family size.
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