Finalize Loans

How to ensure your loans are disbursed

Before loans can be disbursed (applied to your Calvin account), you are required to:

  • sign a Promissory Note
  • complete online Entrance Loan Counseling(Direct Loans only)

Find the type of loan included in your aid package below and complete the related steps.

Federal Direct Loans (Stafford Loans)Federal Perkins Loan
  1. Go to
  2. In the box titles "Manage My Direct Loan" click the green "Sign In" box.
  3. You will need your PIN, which the Department of Education provided when you completed your FAFSA. Misplaced your PIN? Get help here.
  4. To complete your Master Promissory Note:
    • Click on "Complete Master Promissory Note" and follow the instructions.
    • You will receive immediate confirmation that your MPN has been received and accepted. Print a copy of your MPN for your records (use Adobe Acrobat reader).
  5. To complete your Entrance Counseling:
    • Click on "Complete Entrance Counseling" and follow the instructions.
    • Complete the Entrance Counseling Tutorial and Entrance Counseling Quiz. The results of your quiz will be retrieved by the Financial Aid Office.
  1. Go to (works best with Internet Explorer 5.0 or greater).
  2. Click on " Review and sign your loan" and read the page carefully.
  3. Complete the authentication page. You will need your FAFSA PIN. If you've misplaced it, get help here.
  4. You will know you have successfully signed your promissory note when you see the congratulatory message on the e-sign screen. Print a copy of the signed promissory note for you records (use Adobe Acrobat reader).

Your loans will be credited to your account 2-3 weeks after classes begin each semester, less a 1.072% fee (for Direct Loans). If you wish to change the amount of your loan, please contact financial aid.

Terms to know

  • subsidized loans - won't accrue interest while you are enrolled at least 6 credit hours, in deferment (postponed with approval) or in your grace period 
  • unsubsidized loans - accrue interest while you're in school. Interest payments are not mandatory while you're in school, but any interest accrued will turn into principle once the loan is in repayment.
  • disbursement - payment of the loan to your Tuition, Room & Board account at Calvin. For a full year student, this will happen once in the fall and once in the spring.
  • promissory note - binding legal document that MUST be signed by the student for a student loan. It lists conditions, rights and responsibilities of borrowing and repayment. For Perkins Loans, this must be signed every year. For Federal Direct Subsidized/Unsubsidized Stafford Loans and PLUS Loans, this must only be signed once (Master Promissory Note).
  • co-signer - for alternative loans, this is the person who will be responsible for making payments if the primary borrower becomes unable or unwilling to make payments on the loan. A parent, spouse or other relative may be a good candidate for co-signing. All of our alternative loan preferred lenders strongly suggest a co-signer in order to obtain the best interest rates and repayment terms possible.

Contact Us

Prefer paper? If you wish to reduce or cancel your loan(s) or wish to sign a paper promissory note instead of the electronic note, please contact the office of financial aid.

Moving on? If you discontinue your education for any reason, you must contact the the office of financial aid regarding your loans. You must also complete Exit Loan Counseling.