Accepting Your Loans

Loan Information - Accepting Your Loans

Federal Direct Stafford Loan (Subsidized and Unsubsidized) and Federal Perkins Loan:

If you have been offered a Federal Direct Stafford Subsidized and/or Unsubsidized Loan and/or a Federal Perkins Loan, you have the following options:

  • accept the full amount for ALL loans
  • accept the full amount offered for an individual loan
  • accept an offered loan, but request a lower amount
  • decline the full amount of a loan
  • decide later

Before accepting the loan(s), carefully consider your need to borrow and how much debt you may have already incurred.

Accepting or declining a loan is done through myLane from the myFinances tab. Under "Financial Aid Awards", select "Accept Loan Offer by Aid Year". You may then:

  • Accept the full amount of all loans offered by clicking on Accept Full Amount All Awards.
  • Accept the full amount of an individual loan by clicking on Award Decision. From the pull-down list choose the correct answer, then click Submit Decision.
  • Accept a loan, but request a lower amount by clicking on Award Decision from the pull-down list, choose accept, enter the amount you want to accept for the school year in the Accept Partial Amount box and then Submit Decision.
  • Decline the full amount of a loan by clicking on decline from the pull-down list to the right of the amount offered for each loan, and Submit Decision.
  • Decide later by taking no action until you are ready to choose one of the above options.

Parent Plus Loan

The Parent PLUS loan is accepted by the parent completing the PLUS Request process. Once accepted, the parent will need to complete the Master Promissory Note requirement on the web. If the parent is unable to complete the MPN on the web, they may make a written request to financial aid asking for a paper version of the MPN to be sent.

If you need assistance, please contact Enrollment & Student Financial Services at (541) 463-3100