Requesting a loan must be done online for the 2007-2008 academic school year.Request a loan only after you have carefully reviewed your financial aid award packet, the award letter, and the amount of loans offered. Included in each award packet is the Cost Estimate Worksheet. Please review the Cost Estimate Worksheet in order to estimate the annual costs associated with the academic year and plan accordingly.

STUDENT Stafford Loan - Priority awarding will begin March 2, 2007. If you are awarded a Stafford Loan and would like to accept it, you can accept any amount up to but not exceeding the amount on your Award Letter after March 2, 2007.

• Review the Award Letter.
• Have the annual amount to request calculated and your Social Security Number available for the online request form.
• New Borrower - If you are a new, first time borrower, you are required to complete online entrance loan counseling with EdTest to better understand the Stafford Loan. Failure to complete the new borrower meeting will result in delayed processing of funds.
• Previous Borrower - If you have already borrowed a Stafford Loan, we recommend that you use the same lender you have used in the past. If you choose to select a different lender than previously used, you must complete a new Master Promissory Note, or your loan funds may be delayed.
• After March 2, 2007, go to the online Lender List to request a Stafford Loan. Be sure to request the annual amount desired.
• Once you have confirmed the request, Simpson University will receive confirmation of the request. As prompted, please complete and E-sign the Master Promissory Note online.

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Perkins Loan - Priority awarding will begin March 2, 2007. If you have been awarded a Perkins Loan and would like to accept it, you can accept any amount up to but not exceeding the amount on your Award Letter. The Confirmation Form and Master Promissory Note will be included in your Award Packet. Please accurately complete and return, keeping the Student Copy for your records.

• New Borrower - If you are a new, first time borrower, you are required to complete online entrance loan counseling to better understand the Perkins Loan. Failure to complete the new borrower meeting will result in delayed processing of funds.
• To complete online loan counseling, select the EdTest graphic below.
• Previous Borrower - If you have already borrowed a Perkins Loan, please confirm the amount you would like to take out for the 2007-2008 academic school year by signing the Perkins Confirmation Form and returning it to Student Financial Services.

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PARENT Plus Loan - Priority awarding will begin March 2, 2007. If you are the Parent of a dependent student, you will have the opportunity to help with your student's cost of college by taking out the Parent PLUS Loan. You can borrow any amount up to but not exceeding the amount on the Award Letter.

Important facts to remember: (1) Only one parent should request the loan and, (2) by requesting a PLUS loan, that parent is not obligate to take out the loan. (3) It is necessary to request the loan even if you believe you may be denied, as the student may become eligible for an additional Unsubsidized Stafford Loan through a denial.

• Review the Award Letter and compare it to the Cost Estimate Worksheet, analyze the annual amount you will need to request (deducting the 3% Origination Fees).
• Go to the online Lender List to request a PLUS Loan. Be sure to request the annual amount desired.
• The Parent PLUS Loan request is a three (3) step process; (1) the required confirmation form, (2) the required pre-approval credit check, and (3) E-signing the Master Promissory Note. If you are a continuing parent borrower (at Simpson University), be sure you are the same borrower from the previous year as continuing borrowers only need to complete the confirmation form and the pre-approval credit check.

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Private Loan - Private Loans are available to students in addition to Stafford Loans and may be used to replace the offer of a Parent PLUS Loan. Once a Private Loan is certified by the University, the funds will be transmitted electronically to your student account. This process expedites the delivery of loan funds and eliminates the need for you to endorse a check.

Please carefully review the Lender List and choose the Lender that best fits your needs - request a Private Loan. Please complete the information completely. Please request the annual amount needed. If you intend to have a co-signer, please be prepared to provide their information at this time. Most borrowers will obtain a better interest rate (and in some cases lower fees) by having a co-signer with good credit. Most Private Loans require a co-signer if the borrower has little or no credit history.

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Lender List - The Lender List will be updated by March 2, 2007. It is a list of Lender's that Simpson University works with. If you have not borrowed before, we recommend that you choose a Lender that you feel comfortable with. You must choose a Lender in order to complete the online confirmation. If you do not see a Lender that you would like to use, please select Other Lender. Please note that using a different Lender than those Simpson University offers, may delay the processing of your loans. If you have already borrowed from the federal loans program, we recommend that you use the same Lender. If you choose to select a different lender than previously used, you must complete and E-sign new Master Promissory Note (MPN) with that lender, or your funds may be delayed.

Stafford Loan Lender List or PLUS Loan Lender List or Private Lender List

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OnLine Loan Counseling - You have been asked to complete online loan counseling because you have taken out a student loan(s). We want to make sure that you understand your rights and responsibilities before you borrow. Also, it is a Federal requirement for anyone receiving Title IV (Stafford and/or Perkins Loan) funds. Please complete the loan counseling if you have been awarded a Stafford Loan and/or a Perkins Loan. The EdTest takes roughly 30 minutes.

Entrance Counseling for New, First Time Stafford or Perkins Loan Borrower's - Learning about your student loan is an important part of the financial aid process. Taking the Entrance Exam is mandatory, so do not delay. If you have been offered both a Stafford and a Perkins Loan, you must complete two new borrower meetings; one for the Stafford Loan and one for the Perkins Loan.

Exit Stafford Loan Counseling for Students that have Graduated or dropped below Part-Time - Upon completing your college experience, you need serious information on your Stafford student loan responsibilities. It is very important to understand your rights and responsibilities before you enter into repayment. Completing the Exit Exam is mandatory, so do not delay.

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