Federal Direct Loans 

All federal student loans are now processed through the Direct Loan Program.

Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education (the Department).  Unlike Federal Pell Grants, State Grants, or Scholarships, you MUST repay Federal Direct Student Loans. 

   

Federal Direct Undergraduate Loans:

As a borrower, you will need to complete an Undergraduate Master Promissory Note (MPN) and an Undergraduate Entrance Counseling. You will be able to complete the Undergraduate Entrance Counseling and Undergraduate Master Promissory Note at studentloans.gov. 

Loan amounts will not originate until the following requirements have been met:

  • An ASU-Beebe Loan Certification Form has been completed and received by ASU-Beebe Financial Aid.
  • Undergraduate Master Promissory Note has been completed at www.studentloans.gov (MPN is not considered complete until it can be viewed in Campus Connect as received).
  • Undergraduate Entrance Counseling has been completed at www.studentloans.gov (Entrance Counseling is not considered complete until it can be viewed in Campus Connect as received).

ASU-Beebe Loan Certification Form


Federal Direct Parent PLUS Loans:

Federal Direct Parent PLUS Loans are unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. NOTE: A credit check is required in order to be eligible for a Federal Direct Parent PLUS Loan. 

 

Loan amounts will not originate until the following steps have been followed:

Step 1

The student and parent must use the same PIN used to sign the student's FAFSA to sign in and begin the PLUS process.  If you do not remember your PIN, click on the PIN site (www.pin.ed.gov) to retrieve your PIN or request a duplicate.

Step 2

Complete the PLUS Master Promissory Note

Click on the following link:  https://studentloans.gov/myDirectLoan/index.action.

Sign in using your PIN.    Once there click on Complete Master Promissory Note.  Choose the option labeled Parent PLUS.

  • Parent PLUS Master Promissory Note is not considered complete until it can be viewed in Campus Connect as received.

Step 3

Complete the ASU-Beebe PLUS Loan Certification Request Form and submit to the ASU-Beebe Financial Aid office.  This form must be returned to the financial aid office for your loan to be certified.

The PLUS Loan will not be awarded until all steps are completed.

Step 4

PLUS Loan award amounts must be accepted on Campus Connect.

ASU-Beebe PLUS Loan Certification Request Form

 

Private Loan Process:


  • ASU-Beebe requires students who are first-entering and students who are not on Financial Aid Suspension (e.g. 150%, other SAP holds) to complete the *Free Application for Federal Student Aid, prior to being certified for private student loans. You should have exhausted your Federal Financial Aid eligibility prior to borrowing private loans.
     
  • All students requesting private loan certification by ASU-Beebe must be seeking an ASU-Beebe degree. You must be seeking an ASU-Beebe degree to be certified even if you are not eligible based on a SAP hold. Loan certification will be done on a semester basis and you must be registered for the requested term at the time of certification.
  • The loan will be certified up to the cost of attendance minus any other aid that the student has received or the amount requested by the student if less than the cost of attendance minus any other aid.
  • Dually enrolled students receiving financial aid at another college will not be certified.

  • ASU-Beebe strongly encourages you to research consumer reports regarding the lenders and their products prior to applying for their private loan product. ASU-Beebe does not endorse any particular private loan entity.

  • You can inquire of financial institutions such as banks or credit unions about their student private loan products.

  • Depending on the lenders, they may charge you fees to originate the private loan for you. Remember to compare several products from different lenders to ensure that you receive the best private loan product with a favorable interest rate that suits your need.

  • The loan will be certified for one semester at a time and will disburse in two disbursements.

  • Private student loans are disbursed to ASU-Beebe via paper check. The paper checks will be made co-payable to ASU-Beebe and the student.


If the student owes money to the school, the school requires the student to sign the check and a refund check will be issued to the student when checks are run again.  If the student doesn't owe anything to the school, the school signs off and gives the check to the student.

You must submit the Private Loan Self-Certification Form to your lender of choice.  ASU-Beebe Financial Aid will not accept these forms.