Federal Direct Loan Program

William D. Ford Federal Direct Loan (Direct Loan) Program

The following federal loan chart and information is subject to change at any time depending on the actions of the federal government. Please research your loan options carefully and borrow responsibly. For additional information regarding specific federal student loan interest rate and fee information, please visit the Federal Student Aid website at www.studentloans.gov.

First-Time Borrowers at Northwood University:

Log into studentloans.gov using your FSA ID and Password to complete the following:

  • Master Promissory Note (MPN)

  • Subsidized/Unsubsidized Entrance Counseling session online

Previous Borrowers:

You do not need to complete an MPN or Entrance Counseling if you have completed them previously and the MPN has not expired.

Accepting, Rejecting or Changing your Loan Amounts:

Northwood University uses passive loan confirmation for the acceptance of Subsidized and Unsubsidized loan awards. This means if you are a returning student who has taken loans at Northwood in previous years, your loan amounts (shown on your Official Award Letter and Financial Aid through Web Advisor) will be set to an accepted status within 14 days of awarding unless you notify us that you do not want them.

  • If you want to accept the Subsidized/Unsubsidized loan amounts shown on your Official Award Letter and have completed the Master Promissory Note and Entrance Counseling at studentloans.gov you DO NOT need to take action. These loans will automatically be accepted within 14 days of awarding. You can view any missing and necessary items by visiting your My Financial Aid Self-Service through the My.Northwood Web Advisor.

  • If you want to reject your loan(s) or change the loan amount(s), you DO need to take action. First, go to the WebAdvisor tab at http://my.northwood.edu – Students – My Financial Aid.

    • To reject your loan(s), select My Awards. Click on View Award, select box for loan semesters you wish to reject and click Decline Loan.

    • To change your loan amount(s), go to the Financial Aid section, click on Financial Aid Forms and select the Federal Direct Loan Change Form .This form must be completed and signed (electronic signatures not accepted) and can be mailed, emailed or faxed to the Financial Aid Office. Please note: You may only lower the loan amounts awarded.

If you decide you would like to take out the cancelled loans at a later date with the award year and are still actively enrolled at least part-time please see the Financial Aid office.

IMPORTANT: Federal Direct Loans are governed by federal regulations. Before the Financial Aid Office processes your reject or change requests, the staff will check to be sure the resulting loans meet Federal requirements. For example: If you have both subsidized and unsubsidized loan eligibility, your unsubsidized loan must be zeroed out before we can reduce your subsidized loan. If we cannot process your reject or change request due to Federal requirements we will contact you. Otherwise, you will receive a revised award letter with your requested changes.

PLEASE NOTE: The school will notify you via email that your loans have been disbursed and that you have the right to cancel all or a portion of a loan. If you want to cancel all or a portion of your loan(s) you must do so within 30 days of the date the school sends you this notification.

Complete Your FAFSA

Complete Master Promissory Note

Academic Catalog

Net Price Calculator

Student Loan Code of Conduct