The Master Promissory Note (MPN) you are about to complete will enable Ottawa University to help you obtain Federal Student Loan funds. Remember that these are funds that MUST BE REPAID.

 

The amount you decide to borrow will be communicated to the Ottawa University Financial Aid Department via our internal forms and not during this process.

Note: You will need to log in using your personal identifiers before being able to start the loan process. Once you are logged in, please click on the “Complete MPN” link found near the bottom on the left side of the page. You will then need to select the first link “Subsidized/Unsubsidized” to complete the right application.

IMPORTANT NOTE: You will need to select “Kansas” when you are prompted to select your school’s location.
 

 

Please contact the Ottawa University Financial Aid department if you have any questions regarding this process.

Federal Subsidized Student Loan: This loan is in the student’s name. Interest will be paid for the student by the federal government until the student enters repayment (6 months after leaving school). 

            Interest: 5.6% for Undergraduate loans first disbursed on/after July 1, 2009

                             4.5% for Undergraduate loans first disbursed on/after July 1, 2010

                             6.8% for Graduate loans

            Fees: 1.5% for loans first disbursed on/after 7/1/2009

                        1.0% for loans first disbursed on/after 7/1/2010
            Up-front Interest Rebate: 1.0% (must make initial 12 required payments timely to retain this)

 

Federal Unsubsidized Student Loan: This loan is in the student’s name. Interest is paid by the student (recommended) or capitalized (added to the loan amount).

            Interest: 6.8%

            Fees: 1.5% for loans first disbursed on/after 7/1/2009

                        1.0% for loans first disbursed on/after 7/1/2010
            Up-front Interest Rebate: 1.0% (must make initial 12 required payments timely to retain this)