Loan requirements


Entrance Loan Counseling for Direct Loan

Regulations require that you receive loan counseling prior to your first disbursement of HSU Direct Loan funds even though you may have borrowed and received entrance counseling at a prior institution. This counseling is intended to provide you with important information about your responsibilities and rights as a borrower, and to ensure that you are making a knowledgeable decision to borrow. Funds will not be released until this requirement has been met. To complete this requirement, click the link above. Note: Students have been mistaking Financial Awareness Counseling for Entrance Counseling. Please make sure you complete Entrance Counseling to fulfull your requirement.

Master Promissory Note (MPN) for students and parents

The MPN is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). We should receive an electronic record of your MPN automatically; keep any copy you print for your records. To complete this requirement, click the link above.

Exit Loan Counseling for Direct Loan

You are REQUIRED to complete a loan EXIT COUNSELING session if you are:

  • Graduating
  • Withdrawing
  • Taking Leave of Absence
  • Dropping below half-time enrollment

The link above offers a comprehensive an informative Online Exit Counseling session and is a fast and easy way to meet this obligation. Borrowers must complete Exit Counseling within 30 days of notification, or may have University services, such as transcripts, withheld until completion of the requirement is confirmed.  An exit counseling session with a financial aid counselor is available by appointment only.

Perkins Loan Requirements

If you have been awarded a Perkins Loan, you must complete an electronic Master Promissory Note and loan counseling separate from the Direct Loan requirements. To complete the Perkins Loan requirements, have your FSA ID, personal demographic data, and contact information for your next of kin and two additional references ready, then follow the directions here.

Loan Repayment

At Humboldt State University, the average student debt incurred through federal student loan programs is about $18,500 for undergraduates and about $27,000 for graduates. The Financial Aid Office monitors students’ aggregate loan amounts and may caution students when they are reaching their borrowing limits

Important Information regarding Repayment:

  • With your FSA ID you may access information about all of your federal student loans on the National Student Loan Data System, including current loan holder or servicer.
  • All Direct Loans have a six-month grace period that begins when you cease attendance or drop below half-time enrollment (including approved educational leaves). You are not required to begin paying back your loans until the end of the grace period.
  • The Unsubsidized Direct Loan does accrue interest during this grace period and you can choose to pay it during the grace period or wait until you go into repayment.  The accrued interest amount will then be added  to your principle amount of the loan.
  • The Direct Loan Consolidation  program allows you to combine one or more federal education loans into a new loan that may offer several advantages such as one monthly payment, flexible repayment options, and reduced monthly payments. A Financial Aid Office counselor can assist with questions regarding your student loans and loan consolidation issues.
  • Stay in touch with the loan servicer(s). If you change your name, move, leave school, transfer to another school or change your graduation date, inform your servicer right away.
  • Once repayment starts, if any problems arise that affect your ability to repay, you must remember to contact your loan servicer(s) immediately to discuss your situation to avoid jeopardizing your credit record.  They are there to assist you with any issues that may arise which may delay your repayment.

Web links for student loan and money management issues:

Student Loan Sites:
Money Management Sites:

Alternative/private Loans

Detailed information about alternative or private loans can be found here.