Loan Checklist

Use this checklist as a guide as you review your college financing offer or award letter.

Step 1 – Apply for Admissions at EOU

  • Students are required to be officially admitted to Eastern Oregon University.  Please refer to the Admissions Office at eou.edu/admit .

Step 2 – Complete a FAFSA (Free Application for Federal Student Aid)

  • In order to receive a financial aid package, students are required to complete the Free Application for Federal Student Aid (FAFSA) from the U.S. Department of Education at fafsa.gov.

     EOU’s school code is 003193

  • A Student Aid Report (SAR) will be sent to you from the Department of Education once the FAFSA is completed.  If you listed EOU on your FAFSA, EOU will receive an electronic copy of your SAR. Please review your SAR!
  • If there are any discrepancies with your FAFSA (i.e. selected for verification, C Code or rejected record), the Financial Aid Office will notify you either by email or correspondence.  You will need to submit the necessary documents to the Financial Aid Office.

Step 3 – Financial Aid Award Letter

  • Based on the information from your FAFSA, the Financial Aid Office will provide you with a financial aid package.  All new freshmen will be mailed a college financing offer (award letter).  If you are a transfer or returning student, an electronic notification will be sent via your EOU email address instead and a postcard will be mailed.

Step 4 – Review and Accept/Decline your awards

  • A student can view and accept/decline their awards on Mountie Hub (on-line student access).  If you’re not familiar with Mountie Hub, refer to Mountie Hub Basics at eou.edu/fao/webstart/
  • Accepted loans will be processed with amounts as accepted.  If you wish to accept only a partial amount of a loan, please submit a Loan Revision Request Form (this form can be found under the Forms & Publications section of the Financial Aid Homepage.

Step 5 – Complete Entrance Counseling

  • If you are a first time borrower for a Federal Direct Loan, AFTER YOU HAVE ACCEPTED YOUR LOANS ON MOUNTIE HUB, you must complete loan entrance counseling.  If this requirement is not satisfied, it will delay disbursement of your loan funds.  Entrance counseling must be completed in one sitting at studentloans.gov. Most students finish entrance counseling in about 30 minutes.

Step 6 – Complete the Master Promissory Note

  • To take out a Direct Loan for the first time, you must also complete an electronic Master Promissory Note (MPN).  The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department of Education.  You can borrow additional Direct Loans on a single MPN for up to 10 years.
  • The electronic MPN process must be completed in an entire session.  If you exit the website without completing the MPN, you will need to start over.  The session should take less than 30 minutes.
  • The MPN must be completed online at studentloans.gov

Step 7 – Dependent Students Only (Direct Parent Loan for Undergraduate Students (PLUS))

  • A Direct PLUS Loan (Parent Loan for Undergraduate Student) is a loan taken out by a parent on behalf of their college-bound child.  This loan requires a credit check through the Department of Education on studentloans.gov.  If a parent is interested in taking this loan, follow these steps:
    1. APPLY for the Parent PLUS loan at studentloans.gov.
    2. Complete the electronic Master Promissory Note (eMPN) at studentloans.gov.
    3. Complete the Parent Loan Acceptance Form and return it to EOU.
    4. Funds are applied to the student’s account based on our disbursement schedule.
Hey Parents, just finished the FAFSA form with your child and wondering where to find the PLUS loan application? Start here:

— Federal Student Aid (@FAFSA)