Loan Processing


The Office of Financial Aid begins disbursing aid approximately 10 days before the semester begins. The funds will be applied to your student account by the Treasurer's Office. Excess funds are then sent to the student as a refund either by check or direct deposit at the student's preference.

Your Financial Aid Notification will state the amount of Direct Loan(s) you may borrow. If you wish to reduce your loan amount, indicate the amount you wish to borrow through your Student Center. Remember that the amount borrowed during the academic year may affect the amount of loan eligibility for summer school. Also, loans must be repaid by the borrower, most often the student. To find disbursements received, you may visit your Student Center.

The following information is for Direct Loan borrowers at the University of Arkansas. Please make sure all items below are completed to ensure receipt of your Direct Loan funds. 

  1. You will need to accept your loan(s) in your Student Center by logging in then selecting the Accept/Decline Award option under the Financial Aid section. To accept a lesser amount than was offered, simply check the "accept" box and change the accepted amount. Note: the amount accepted will be disbursed equally between the fall and spring semesters. 
  2. You will need to complete and sign a Loan Agreement,  or Master Promissory Note (MPN), for Subsidized/Unsubsidized Loans at studentloans.gov. It is advised that you print a copy of the MPN for your records.
  3. You will need to complete Entrance Counseling by selecting student type "undergraduate" at studentloans.gov.

Direct Parent PLUS borrowers (parents of dependent undergraduate students) complete the following items. Both items can be completed at studentloans.gov. Parents will use the same FSA ID that he or she used to sign the FAFSA or will follow page instructions to create an FSA ID.

  1. The parent will need to complete the Direct PLUS Loan Application by selecting "Apply for a Direct PLUS Loan" at studentloans.gov and then choosing "Direct PLUS Loan Application for Parent." An application will need to be completed each year (or on a term by term basis). If the loan is approved a Master Promissory Note (MPN) will need to be completed and signed.
  2. The parent will need to complete and sign a Loan Agreement, Master Promissory Note (MPN), for a PLUS for Parent at studentloans.gov. Under most circumstances this step is only required the first year.

Direct Graduate PLUS borrowers (graduate students borrowing additional funds) complete the following items in addition to Stafford loan entrance counseling and promissory note completion. All items can be completed at studentloans.gov.

  1. You will need to complete the Direct PLUS Loan Application by selecting "Apply for a Direct PLUS Loan" at studentloans.gov and then choosing "Direct PLUS Loan Application for Graduate/Professional Students." This step should be completed each year (or on a term by term basis). If the loan is approved the following items will need to be completed.
  2. You will need to complete and sign a Loan Agreement, or Master Promissory Note (MPN), for PLUS for Graduate/Professional Students at studentloans.gov. Under most circumstances,this step is only required the first year.
  3. You will need to complete Entrance Counseling by selecting student type "graduate or professional."

All loan information will be submitted to NSLDS and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

Studentaid.ed.gov explains the rights and responsibilities of a student borrower on page 15 of the Your Federal Student Loans PDF. Rights include but are not limited to deferment, forbearance, and prepayment. Responsibilities include but are not limited to timely repayment, entrance and exit counseling, and notifying the lender of changes in address.