Completing Paperwork for Loans
Please review the conditions and terms of any loan before you indicate your acceptance. See the Student Loan Program Chart, paying careful attention to whether you have been awarded a subsidized or unsubsidized loan. Remember that unsubsidized loans mean that you (or your parents, if it is a Parent Loan) pay the interest on the loan while you are in school and throughout the life of the loan. You may always borrow less than we are suggesting on the award letter. Just indicate the reduced amount you want to borrow in Section V. of the award letter. Additional information regarding loan programs and repayment is available online in the UW Student Guide.

If you accept a Nursing Loan, Health Profession Loan or Primary Care Loan, the Student Fiscal Services, 129 Schmitz, will prepare the promissory note for your signature. You must come to this office to sign your promissory note before funds can be disbursed to your account.

The Federal Perkins Student Loan requires your electronic signature on a master promissory note available on MyUW (check financial aid status under Student Personal Services). The Student Fiscal Services Office will send an e-mail before each quarter to students who still need to e-sign their Perkins note (you will need to sign only once for all Perkins Loans you borrow at the UW). These loans will be repaid to the University's loan servicer after you leave school.

If you wish to accept a Federal Direct Subsidized Stafford/Ford Loan or the Federal Direct Unsubsidized Stafford/Ford Loan, simply check your acceptance on your award notice on MyUW. If it is your first Direct Student Loan at the UW, you also need to electronically sign a master promissory note at http://dlenote.ed.gov. After you have signed the note, funds will be disbursed to your account (see Disbursement of Financial Aid, Loans and Scholarship Funds). Students who borrowed through the Federal Direct Stafford/Ford Loan program last year and signed a master promissory note will not be required to sign a new promissory note. If you have not been awarded a Federal Direct Unsubsidized Stafford/Ford Loan and would like to use these funds to replace your family contribution, please indicate the amount you would like to borrow in Section V. of the award letter. These funds are repaid to the Federal Direct Loan program's servicing agency after you leave school.

The Federal Direct Parent Loan for Undergraduate Students (PLUS) enables parents to borrow for their dependent undergraduate children. The maximum amount borrowed may not exceed the difference between the school's determination of the cost of attendance and assistance received including scholarships and other benefits. The PLUS Loan has no interest subsidy and should be regarded as a last resort for most students. If your parents want to borrow this loan, accept the loan on your award letter and write in the amount they would like to borrow (if it differs from the amount we suggested). You will be sent the application and promissory note for the loan (usually in early September for loans beginning Autumn Quarter) to give to your parents. Their information will be forwarded to the federal government's processor for a credit check. Repayment of the PLUS loan begins 60 days after the loan is fully disbursed.