Loan Counseling & Loan Agreement

Loan Counseling & Loan Agreement

Loan Entrance and Exit Counseling

All first time Federal Direct Stafford loan borrowers must complete Loan Entrance Counseling before will receiving the first disbursement of federal student loans. The purpose of Loan Entrance Counseling is to help you understand your responsibilities regarding your loan. For your convenience, you are able to complete this session online. This counseling session may take 20-30 minutes to complete. Rowan University will be notified electronically that you have successfully completed the entrance counseling session.

If you received educational loans while in attendance at the Rowan, once you graduate, withdraw, are dismissed, or take a Leave of Absence, you must complete Exit Counseling. Exit Counseling provides valuable information on how to prepare for repaying your student loans. A hold may be placed on your academic credentials until the Exit Counseling has been completed. Rowan University will be notified electronically that you have successfully completed the exit counseling session.

Steps to complete Loan Entrance and Exit Counseling online:

  1. Visit
  2. Click "SIGN IN" under Manage My Direct Loan. You will be required to enter your Social Security number, the first 2 characters of your last name, your date of birth, and your FSA ID.
  3. Once you are signed in, click the “Complete Counseling” link then choose the “Entrance Counseling” option. 
    • It is helpful to review the “Useful Information to Have” link.
  4. Now click "Start."
  5. Select "New Jersey" using the drop down box under U.S. Schools/ U.S. Territory School. Under School Name, choose "Rowan University."
  6. Click “Notify this school" then select your student type.
  7. Now click “Continue.”
  8. Read each section of the counseling session, answer the questions at the and, then click "Continue." 
  9. Next, select the “View the Borrower’s Rights and Responsibilities” link.
  10. Finally, click Submit at the bottom of the page.

Loan Agreement aka Master Promissory Note (MPN)

All first time Direct Loan borrowers are required to complete a loan agreement aka master promissory note (MPN) before receiving the receive the first disbursement of federal student loans. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department of Education. This requirement may be completed online at The entire MPN process must be completed in a single session that may take approximately 30 minutes to complete.

Your FSA ID was used to sign your FAFSA, you will also use it to sign your MPN. If you do not have an FSA ID, you may request one from the official FSA ID site ( A Parent PLUS loan borrower must also request an FSA ID from this site to use when completing a PLUS MPN. You will receive a disclosure statement from Direct Loans that will give you specific information about any loan disbursed under your MPN to Rowan University including the loan amount, fees and the expected disbursement dates and amounts. 

Applying online ensures that the application is completed accurately and securely. However, borrowers do have the option to complete a paper MPN. If you prefer this method, you will need to print, sign in ink, and mail the MPN to the Direct Loan Origination address.