Federal Direct Loan (Student)
The federal government has a variety of federal loan options available for students and parents, and we encourage you to review the following information carefully before making any decisions about your loans.
To help students cover the cost of higher education, the U.S. Department of Education offers eligible students Federal Direct Subsidized Loans and Direct Unsubsidized Loans.
- Subsidized Federal Direct Student Loans may be borrowed by students enrolled at least half-time. Subsidized loans are need-based and do not accrue interest charges.
- Unsubsidized Federal Direct Student Loans may be borrowed by students enrolled at least half-time. Unsubsidized loans are not based on financial need, and therefore will begin to accrue interest charges at disbursement.
If you are a first-time borrower of Direct Loans you will need to complete a Direct Loan Master Promissory Note (MPN) and Entrance Counseling using your (student) FSA ID at https://studentaid.gov/
Student Loan Process
Wartburg College uses the William D. Ford Federal Direct Loan Program. There are two easy steps for you to complete the process. Both steps are completed on the same website so read through the directions prior to following the links.
Step 1: Financial Aid will originate your Federal Direct Loan once you have registered for classes and have completed an electronic Master Promissory Note (eMPN). This eMPN will be used for all subsidized and unsubsidized Federal Direct loans. This form needs to be completed ONCE at Wartburg. Subsequent Federal Direct Loans accepted by you will be automatically processed under the same eMPN in future academic years. Complete Federal Direct Loan eMPN.
Step 2: In order to receive Federal Direct Loan funds on your student account you will need to complete an Entrance Counseling session. You will need to SIGN IN and select the Entrance Counseling option to begin the process. You will complete this process only ONCE at Wartburg. Upon completion of the eMPN and Entrance Counseling loan funds will be disbursed through an electronic funds transfer (EFT) to your student account at the beginning of each term.
Loan Regulations
Wartburg College is required by federal regulations to comply with individual lender terms and cannot certify a loan for more than your eligibility as determined by the student cost of attendance minus any other available financial aid. Wartburg College does not participate in revenue-sharing practices, referral fee arrangements, or private loan application fee payments. Student borrowers of the William D. Ford Federal Direct Loan Program who are graduating, leaving school, or dropping below half-time enrollment are required to complete an Exit Counseling session.