Steps to Receiving a Student Loan | GCTC

Affording College

Steps to Receiving a Student Loan

To be eligible:

File your FAFSA, and complete your financial aid file at Gateway.

  • Meet all Gateway Admissions requirements.
  • Returning students, those transferring to Gateway from another college, or re-entering students must maintain Satisfactory Academic Progress.
  • Enroll (and remain enrolled) in at least 6 semester credit hours that are program applicable to your academic program plan in the term for which you are borrowing the student loan.

Steps to Receiving a Student Loan:

First, log into your Student Self-Service account using your student name and password.

Second, select the tile for Fin. Aid & Account Balance tile, then click on FA Loan Request. From here, you will read through the material and follow the prompts to request a loan. You will choose the amount you wish to borrow. It can take up to 10 business days for the awards to show on your self-service account.

 After requesting your student loans on Student Self-Service, you will need to complete Entrance Counseling and a Master Promissory Note (MPN) if you are a first time borrower of a Direct Student Loan. If you borrowed a Direct Student Loan before but it was more than 10 years ago, you will need to complete a new MPN. Instructions are as follows.

Entrance Counseling

To complete Entrance Counseling, go to Federal Student Aid Entrance Counseling. Be sure to have your US Department of Education FSA ID number available. You may obtain your FSA ID at Federal Student Aid if you have forgotten it or your password.

  • Log in to Federal Student Aid.
  • Choose to complete Entrance Counseling.
  • Indicate you are an undergraduate student.
  • Follow the directions to read and then answer questions to demonstrate that you understand your rights and responsibilities as a student borrower.

Master Promissory Note

To complete the Master Promissory Note, go to Federal Student Aid MPN. Be sure to have your US Department of Education FSA ID number available. You may obtain your FSA ID at Federal Student Aid if you have forgotten it or your password.

  • Log in to Federal Student Aid.
  • Choose to Complete a Loan Agreement (Master Promissory Note/MPN).
  • Indicate that you are an undergraduate student.
  • Follow the directions given on the screen to successfully complete the eSign process.
  • Print and retain a copy of your MPN for your records.