Before you Take a Student Loan 

Explore Scholarships and Grants! 

Unlike scholarships, grants and work-study, loans must be repaid. If the degree or program of study is NOT completed, the student remains responsible for repayment. It is recommended that you only borrow the amount you will need to successfully complete your education. 

Compare Student Loans 

Know the Difference Between Federal and Private Student Loans. 

Federal Student Loans

Federal loans include Stafford loans for students and Parent PLUS loans (Parent Loan Under Student). These federal loan programs funded by the government are offered to you after completion of the FAFSA. Federal loans are generally the best option for education loans due to the loan terms for repayment and lower interest rates. 

Non- Federal Student Loans (Private Loans) 

There are other types of student loan programs funded by banks sometimes called “alternative loans” because they are an alternative to the federal student loan programs. You have to apply and be approved for these loans directly with a bank or lender. 

Adams State Emergency Loans

Students who need “emergency” funds for books or other expenses can apply for an emergency loan, up to $190, from Adams State University. A simple loan application and promissory note can be completed with a One Stop cashier. 

Manage Your Loans 

Master Promissory Note (MPN) 

The Loan Agreement or MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). There are different MPNs depending on the loan(s) that you accept. 

Entrance Counseling

Students are required to complete an Entrance Counseling session before their federal loans will disburse. A hold will be placed on the student’s account and prohibit their loans from paying until the student completes the Entrance Counseling session. 

Exit counseling

Students must complete an Exit Counseling session at the time they graduate, withdraw or drop to less than half-time status. A hold will be placed on the student’s academic transcript until such time as the student completes the Exit Counseling session. 


Repayment will begin immediately or up to six months after you withdraw, graduate, or drop to less than half-time status. Since repayment options vary greatly, it is best to contact your lender for details. Lean more about your lender, loan repayment options, teacher loan forgiveness and public service loan forgiveness by visiting STUDENTAID.GOV 

Loan default 

Failure to repay a loan according to the terms agreed to in the promissory note. For most federal student loans, you will default if you have not made a payment in more than 270 days. You may experience serious legal consequences if you default. 

Loan Disbursement

After you accept your loan in your student account via the One Stop student portal, Adams State University will then receive the loan through electronic transmission. After your eligibility is verified, and we have received an electronic submission of your Entrance Counseling (for first time borrowers) and your promissory note a loan disbursement will be credited to your account. 

The federal government requires lenders and schools to disburse loans in two disbursements regardless of the loan period. If you borrow for the fall/spring semesters, there will be a disbursement in August and another in January. If you borrow for only one semester, your loan(s) will be disbursed in two disbursements, one at the beginning and one at the midpoint of the semester. 

Note: If you’re a parent taking out a Direct PLUS Loan to help pay for your child’s education expenses, your loan funds will be disbursed according to the same type of schedule. 

The following may apply if you haven’t taken out a federal student loan before:

If you’re a first-time borrower of a Direct Subsidized or a Direct Unsubsidized Loan, you must complete entrance counseling before your school can give you your loan money. 

If you are a graduate or professional student taking out a Direct PLUS Loan, you must complete entrance counseling before you receive your first loan disbursement. Note: Counseling is required for the Parent PLUS and Grad PLUS if you have obtained an endorser. 

More Information 

Email for loan information or requests.