How to Accept a Loan

Follow the steps below to accept a loan. Unlike a grant, a loan must be repaid. For more information, see the Award and Planning Guide.

1. Log onto the CSUN Portal and once you are logged in, navigate to My Finances and select Financial Aid & Scholarships.

      

2. Locate the box called Financial Aid Essentials. Select "Accept Loans."

3. Select the award year.

4. Determine the amount and type of loans you want to borrow.

 

 

There are many options available on the Accept My Student Loan page, so please read carefully through the following information before selecting the "submit" button. Use the "clear all" button to reset your selections. Only select the "submit" button if you are satisfied with your selection(s).

4a. How do I accept the maximum amount on every loan?

• Select the "accept all" button. The "accept" checkbox next to every loan should now be checked. Select the "submit" button to proceed.

4b. How do I decline every loan?

• Select the "decline all" button. The "decline" checkbox next to every loan should now be checked. Select the "submit" button to proceed.

4c. I was awarded both subsidized and unsubsidized loans. How do I only accept the subsidized loan?

• Select the "accept" checkbox next to the subsidized loan only. Accept the maximum amount or modify the amount. Select the "submit" button to proceed.
• Please note, you choose to decline the unsubsidized loan now or leave it in offer status, and activate it at a later time. 

4d. I do not want to borrow the maximum amount offered. How do I only accept a portion of the loan?

• Select the "accept" checkbox next to the loan you want to accept. You will now be able to modify the amount. You may only enter whole dollar amounts and not cents. Select the "update totals" button and the system will recalculate your accepted total. Select the "submit" button to proceed.
• Please note, you are only able to reduce the amount offered. You cannot enter an amount that exceeds the offered amount. 
     

4e. When I reduce the subsidized loan amount, the unsubsidized loan grays out. Why?

• You must accept the entire subsidized loan before you can take out the unsubsidized loan. If you reduced the subsidized loan in error and want to accept both loans, select the "clear all" button to start over.

5. Confirmation page: After selecting the "submit" button, the accepted or declined amount will appear on the portal. The Financial Aid & Scholarship Department will verify that loan entrance counseling has been completed and a Master Promissory Note (MPN) has been submitted. Students who do not fulfill both loan requirements will not receive any loan funds.

New borrowers

If you are a first-time direct Stafford loan borrower and wish to complete loan entrance counseling/an MPN at StudentLoans.gov, please select the "Stafford" button and you will be redirected to the government's website. Otherwise, select the "return" button and go back to the portal. To complete the requirements at a later time, go directly to StudentLoans.gov.

Continuing borrowers

If you previously borrowed direct Stafford loans, you generally do not need to complete a new MPN every year. For example, if you received direct Stafford loan funds anytime during the 2016-2017 award years, the MPN you completed will likely be linked to future loans for up to 10 years. Contact the Financial Aid & Scholarship Department with questions.

 

 

6. When do I have to complete a Federal Direct Loan Request Form?

You must complete a Federal Direct Loan Request Form if:

• You initially declined the whole loan through the portal, but now you would like to borrow the loan.
• You only accepted a portion of the original loan amount, and now you would like to borrow the rest.
• You accepted the maximum loan amount initially but currently qualify for more loans (e.g., you were awarded as a sophomore for the fall semester but now qualify as a junior for the spring semester.)