LOAN REVISION FORMS

TO REQUEST ADDITIONAL STAFFORD AND/OR PLUS LOAN FUNDING, OR DECREASE/CANCEL A LOAN(S) YOU HAVE ALREADY ACCEPTED, YOU MUST SUBMIT ONE OF THE FOLLOWING FORMS TO THE OFFICE OF STUDENT FINANCIAL AID:

If a student's parent has  been turned down for a Federal Direct Parent PLUS Loan a student may apply for additional Stafford loan funds by the submitting the REQUEST FOR INCREASE OF STAFFORD BORROWING DUE TO DENIAL OF PARENT PLUS LOAN form to the Office of Student Financial Aid.

If a student's grade level has advanced since his/her original loan package was presented, resulting in higher loan eligibility, or if a student has changed his/her mind and wishes to receive more funding than he/she originally accepted, a student may apply for additional loan funding by submitting the REQUEST FOR INCREASE OF FEDERAl DIRECT STAFFORD AND/OR PLUS BORROWING FOR THE 2010-2011 ACADEMIC YEAR form to the Office of Student Financial Aid.

If a student wishes to decrease the amount of loan(s) he/she accepted, or cancel a loan(s), a student should submit the REQUEST FOR DECREASE AND/OR CANCELLATION OF FEDERAL DIRECT STAFFORD AND/OR PLUS BORROWING FOR THE 2010-2011 ACADEMIC YEAR form to the Office of Student Financial Aid.

LOANS

Paper applications will not be used for the upcoming  2010-2011 academic year, except possibly in the case of "revisions" and/or "grade level changes" as discussed below.

You must access CSU X-press in order to accept a loan.

The following information regarding Federal Direct Stafford, Parent PLUS and Graduate PLUS loans is also included on the

Financial Aid Award Status Notification web page.

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FEDERAL DIRECT STAFFORD LOAN

All initial student financial aid award packages will reflect Stafford loan eligibility, if any, in an “Offered” status. Should you desire a Stafford loan(s) you must accept the “Offered” loan(s), in whole or in part, through CSU X-press. It is not necessary to submit a paper loan request form. It will, however, be necessary for you to complete a Direct Loan Master Promissory Note (MPN) and Direct Loan Entrance Counseling. Go to the StudentLoans.gov web site to complete these requirements.

Deadlines for acceptance of Stafford loans are as follows:

Summer 2010 – Procedures and deadline for Summer Direct Stafford Loans

to be determined at a later date

Once you have accepted a loan(s), and we have certified your eligibility to the Direct Loans program, you will be notified that you need to access CSU X-press to review the results.

FEDERAL DIRECT GRADUATE PLUS LOAN

Initial student financial aid award packages will reflect Graduate PLUS loan eligibility for Masters and Doctorate candidates, in an “Offered” status, if the student has sufficient Unmet Need remaining in his/her financial aid budget after Stafford eligibility, if any, has been “Offered”. Should a student desire a Graduate PLUS loan he/she must accept the “Offered” loan(s), in whole or in part, through CSU X-press. It is not necessary to submit a paper loan request form. It will, however, be necessary for you to complete a Federal Direct PLUS Loan Application and Master Promissory Note (MPN) and Direct Loan Graduate PLUS Loan Entrance Counseling. Go to the StudentLoans.gov web site to complete these requirements. The deadline for accepting the Graduate PLUS Loan is the same as the deadline for accepting a Federal Direct Stafford Loan (discussed above). Please Note: Federal Law prohibits students from receiving a Graduate PLUS Loan for any loan period until they have exhausted their Stafford Loan eligibility for said loan period.

FEDERAL DIRECT PARENT PLUS LOAN (Parent Loan for Undergraduate Students)

Initial student financial aid award packages will reflect Parent PLUS loan eligibility for Dependent students, in an “Offered” status, if the student has sufficient Unmet Need remaining in his/her financial aid budget. Should a parent desire a Parent PLUS loan the “Offered” loan must be accepted, in whole or in part, through CSU X-press. It is not necessary to submit a paper loan request form. It will, however, be necessary for the parent to complete a Federal Direct PLUS Loan Application and Master Promissory Note (MPN). Go to the StudentLoans.gov web site to complete this requirement. The deadline for accepting the Parent PLUS Loan is the same as the deadline for accepting a Federal Direct Stafford Loan (discussed above).

If a student's parent has  been turned down for a Federal Direct PLUS Loan the student may apply for additional Stafford loan funds by the submitting the REQUEST FOR INCREASE OF STAFFORD BORROWING DUE TO DENIAL OF PARENT PLUS LOAN form to the Office of Student Financial Aid.

CERTIFICATION OF ELIGIBILITY

The final step in the loan application process, after a student and/or parent has accepted a loan(s) online through CSU X-press and completed the appropriate MPN and Entrance Counseling, involves the loan processors in the Office of Student Financial Aid completing a review of every accepted loan, to confirm eligibility, and readying that confirmation of eligibility for electronic transmission to Direct Loans. Direct Loans refers to this process as loan "Origination". We will begin Origination for the Fall 2010/Spring 2011 loans on July 8, 2010, the day after the final 2010 summer session has begun .

REQUESTS FOR REVISION OF ACCEPTED (OR DECLINED) LOANS

There may be instances after you have accepted a loan, either in whole or in part, or declined a loan, that you change your mind. In that instance we will be happy to accommodate any request for a "revision". As we move into what we anticipate to be a paperless loan application environment we still have some procedures that we need to establish and publish for situations such as the topic at hand. Please grant us your indulgence as we finalize the procedures to accommodate your request for a revision. At this time we anticipate publishing, on this web page, such procedures by August 1, 2010.

CHANGE IN LOAN ELIGIBILITY DUE TO GRADE LEVEL CHANGE

In the event that you accept a loan, and it is processed and funded, please be informed that if your grade level changes after the fall, or any, semester (either to the next undergraduate level, such as sophomore to junior, or into a different academic program, such as Certification or Masters) your loan(s) will not be automatically adjusted based on you new status. In fact, your loan(s) may be canceled if you should move from undergraduate to graduate status, or Master's to Certification.

Example:

You are a senior during the fall semester.
You accept a loan for the entire academic year (fall and spring).
We process the loan as you have requested.
You graduate in December and move into a Master's program in January.
The spring disbursement of the loan will be canceled due to your new academic status.
In order to receive a loan for the spring you must follow our published procedures in order to have us certify your eligibility for a loan at the Masters level.

As with "Revisions" discussed in the section immediately preceding, as we move into what we anticipate to be a paperless loan application environment we still have some procedures that we need to establish and publish for situations such as the topic at hand. Please grant us your indulgence as we finalize the procedures to accommodate this situation. At this time we anticipate publishing, on this web page, such procedures by August 1, 2010.

Private Education Loans (Alternative Education Loans)

There may be instances where you may not qualify for Direct loans or it may be that you are not eligible for sufficient funding of your needs under this federal program. If that is the case you might wish to pursue a private education loan. In most instances lenders will notify our office if you have applied for, and been approved for, a Private Education Loan and request that we certify your enrollment status/eligibility. In some instances you may need to either notify us that you have been approved or you may need to provide us with a paper certification form. For more information concerning this process check with your lender. We will perform eligibility certification for any private lender, or any loan product they offer, that you desire. CSU does not maintain a Preferred Lender list for entities that offer Private Education Loans nor do we recommend any particular private lender or private loan product.

To view archived copies of the Summer 2009 Fact Sheets and Loan Request

Forms please visit the Summer Financial Aid web page.