To complete your Perkins and/or Health Professions Loan promissory
note on-line, sign into www.stuinfo.msu.edu and select the
appropriate loan (Perkins, Health Professions) under the "University Loans" heading.
Having your Perkins Loan Note Mailed For Signature
If you have elected to manually sign a paper MPN, your Perkins loan note(s)
and associated forms need to be completely filled out and returned to Michigan
State University so your Federal Perkins proceeds can be applied to your
student account. Upon receipt, MSU will finalize your Perkins disbursement
(converting your pending aid to real aid). Incomplete forms having to be
returned may potentially delay the disbursement of your Perkins loan.
Please read the loan note mailed to you in its entirety, retaining one
copy for your records.
Master Promissory Note For Perkins Loans
You must complete or correct all missing information in Section A. In
addition, the Rights and Responsibility Statement and Personal and
Confidential Information statement discussed below must be completed
and returned.
Your Perkins Master Promissory Note (MPN) will remain open until
one of the following occurs:
- Ten years have expired since the date you signed the MPN.
- Twelve months have expired since the date you signed the MPN and you have not received any disbursements under the MPN.
- After signing, you may voluntarily choose to expire the note. If you decide to voluntarily expire your note, please go to http://stuinfo.msu.edu/, select Electronic Promissory Notes and select the link marked expire note. Please note that if you decide to expire the Perkins MPN no further Perkins awards will be disbursed to you unless you sign another MPN.
You also have the option of declining an individual disbursement. If
you wish to decline an individual disbursement there is no need to
expire the entire note. To decline a disbursement please go to
www.finaid.msu.edu/youraid , then log in and
follow the instructions on how to decline a disbursement.
You must be registered as a FULL TIME student to be eligible to have your Perkins
loan disbursed (exceptions to this rule may apply during certain summer
semesters, depending on the availability of funds). If you are not registered
as a full time student your Perkins loan will not be disbursed. If you add
enough credits to become full time before the fifth day of the semester and you
have returned all required documents to the Federal Loans office, your Perkins
loan will automatically be disbursed. After that date, your Perkins loan award
may be canceled.
HEALTH PROFESSIONS LOAN NOTE INFORMATION
Master Promissory Note
All Health Professions Loans now have master promissory loan notes. Please read
your note(s) carefully. You must sign and date the back of the loan note and
indicate where appropriate the acceptance of the note as a master promissory note
and initial. Also, please complete the information requested regarding school
entrance and exits dates. This information must be completed in order for your
loan(s) to be disbursed.
After signing, you may voluntarily choose to expire the note. If you wish to
expire your loan note, you may do so by writing the Federal Loans Office at the
address listed below.
You also have the option of declining an individual disbursement. If you wish
to decline an individual disbursement there is no need to expire the entire note.
To decline a disbursement please go to
http://www.finaid.msu.edu/youraid , then
log in and follow the instructions on how to decline a disbursement.
GENERAL PROVISIONS FOR ALL LOANS
Rights And Responsibilities Statement (required for each Perkins and/or Health
Professions loan)
After reviewing your Rights and Responsibilities under the Federal Loan Program
in which you are borrowing, print name, sign in ink, date and provide your PID
number at the bottom of the form. Please return one copy and retain one copy
for your records. A separate Rights and Responsibilities statement must be
completed and returned for each loan note you return.
Personal And Confidential Information - Form B (required for each Perkins and/or Health Professions loan)
CAUTION: Your loan cannot be disbursed without this form.
It is important that this form be filled out completely. Incomplete forms will
be returned and will result in a delay of disbursement of your funds. Some of
the common omissions are: failure to provide driver's license numbers and to
provide three (3) references with complete addresses (including City, State and
Telephone Number).
Completed Forms
As soon as possible, return all required forms to the Federal Loans Office at the
address shown below:
Michigan State University
Student Account Services
140 Administration Building
East Lansing, Michigan 48824-1046
5l7-355-3340
Upon receipt, documents will be reviewed for completeness (be sure to
include your signed loan note [two pages front and back], Rights and
Responsibilities form and completed Form B). If complete, your loan
will be converted from "Pending Aid" to an actual credit on your student
account. After being applied against outstanding charges on your student
account, any excess funds will result in a refund.
Right To Decline Perkins/Health Professions Loan/Disbursement
You have the right to cancel all or a portion of your Perkins or Health
Professions Loan, even after the loan funds have been disbursed to your
MSU account. If you wish to cancel an already disbursed loan, you must
notify the Office of Financial Aid within fourteen calendar days of the
billing statement notifying you that the funds have been applied to your
account.
Refunds
If you are a registered student and have excess financial aid, your funds
will be directly deposited into your bank account (note: if not currently
enrolled for this service, you may sign up on-line via STUINFO at
http://stuinfo.msu.edu/).
If you are not enrolled in the direct deposit program, a refund check will
be mailed to your local address (if provided) approximately ten days before
the first day of classes. If we do not have a current local mailing address,
your refund check will be mailed to your permanent address. Please return all
required, completed documents to the address listed as soon as possible.
To check on the status of your refund using the STUINFO system, you will
need your MSUNET ID and password. The Refund Status
menu item will indicate if a refund was direct deposited or a check was
mailed. The Financial Aid menu item will indicate
disbursements and status of awards/aid. If you have a question about
whether or not a refund check was direct deposited or mailed, you are
first asked to check the Refund Status screen
within the STUINFO system. However, always wait for your confirmation
e-mail regarding your direct deposit and verify with your bank that the
funds have been deposited before you draw against those funds.