Please review the Path to Financial Aid Success which can also be found by accessing ISIS and navigating to Student Center --> Finances --> Required Reading. The Path to Financial Aid Success includes the links on Loan Processing Information, Understanding Terms on the Award Notice, Work Study, and Terms and Conditions.

1. Please refer to Self-Service for estimated disbursement dates.  Note:  Due to federal regulations, FFELP funds must be disbursed to the student or returned to the lender within thirteen days of receipt of the funds.


2. The following information is for new borrowers at the University of Arkansas participating in the FFELP program (Stafford Loan or PLUS).  A new borrower at the University of Arkansas is a student that has never borrowed before at the University of Arkansas . 


3. Please make sure all of the steps are completed to ensure receipt of your Stafford funds.  All three steps can be completed in ISIS by logging into ISIS, referring to “Self Service”, choosing Student Center , choosing Accept/Decline Awards, and then choosing your aid year.
   
   
   1. You will need to complete Federal Entrance Counseling.
   2. Please make sure the Financial Aid Office has your lender of choice.  From Accept/Decline Awards, choose the aid year, choose the “select lender” button, and follow the directions.  All lenders listed participate in electronic funds transfer.  If you wish to use a lender NOT listed in ISIS, please contact your financial aid counselor for directions.
   3. Follow the instructions to complete and sign a Stafford Master Promissory Note or this can be done electronically in ISIS.  Once you’ve chosen your lender in ISIS (see directions above), a “MPN Link” button becomes available for you to choose.  It will take you to another page and you will follow the directions to complete the electronic MPN.
   
   
4. Your award notice states the amount of Stafford loan to be certified.  If you wish to reduce your loan amount, indicate the amount you wish to borrow on Self-Service. Remember that the amount borrowed during the academic year may affect the amount of loan eligibility for summer school.  You will receive a Notice of Guarantee providing you with disbursement information and your total indebtedness.  To determine disbursements received by our office, you may go to Self-Service.


5. Be careful to provide the same lender code in ISIS for the Financial Aid Office and on the MPN for your lender.


6. The following process is an outline for PLUS borrower (parents of dependent undergraduate students).  The PLUS Master Promissory Note (MPN) must be completed the first year.  If you borrow each year, completion of the PLUS MPN will not be required again.  Parents who do not borrow each year may be required to complete a new PLUS MPN.   Please contact your lender to determine if a new MPN will be needed for their processing.  However, completion of a form used by University of Arkansas is required each year (Federal PLUS Loan Application).  Instructions and the form are at http://finaid.uark.edu/fedloans/fedloans_plus.htm.  Complete the Parent PLUS Application, sign a PLUS Promissory Note, and follow the directions in the application for successful receipt of funds.