The following are instructions for accepting federal loans. See more on the StudentAid website. Private/alternative loans may require other instructions. See your lending institution for instruction.
Master Promissory Note
In order for loan funds to disburse to your account, you must complete a Master Promissory Note (MPN) at the StudentAid website. The MPN is a legal document in which you promise to repay your federal student loan(s) and any accrued interest and fees.
There is one MPN for Federal Direct Loans and a different MPN for Direct PLUS Loans.
To complete an MPN, you will need your FSA ID. You will also need your social security number, driver's license and two references with different U.S. addresses.
Entrance Counseling
First-time borrowers must complete online entrance counseling at the StudentAid website. To complete online entrance counseling, you will need your FSA ID.
Upon completion of the session, you will receive a confirmation page, please retain it for your records. The Financial Aid Office will receive confirmation of completion electronically within 48 hours.
Entrance counseling and the MPN must be completed before your loan will disburse to your student account.
Accept/Decline/Reduce Loans
When you View Financial Aid Awards you will need to review the eligibility requirements for each award.
To reduce a Federal Direct Loan award in MyFIU, accept the award and then make your changes inside the edit box. It is best to accept only the loan amount necessary to meet your educational expenses.
Canceling Loans
If you would like to cancel/return all, or a portion, of the loan(s) credited to your account, you have 14 days from the date of the loan disbursement to inform OneStop of this request.
Forms generally take 5 days to be processed.
You must submit a completed loan adjustment form that is available on our Forms & Policies page.
Returning funds
If you received your loan disbursement through a paper check, you must first return the un-endorsed and un-cashed paper check to Student Financials, and they will forward the cancellation request to our office once they have canceled and reversed the check.
If you received your loan disbursement via direct deposit, please note that if you cancel all or a portion of the loan, any remaining balance due on your account, or and refund you may have received from the proceeds of this loan is your responsibility to repay. Failure to pay any outstanding balance due to the cancellation or reduction of your loan will result in a hold as an outstanding balance due and you will not be allowed to request an academic transcript or have access to register for any future enrollment.
Part-Time Enrollment and Loan Reductions
Effective Fall 2026, the One Big Beautiful Bill Act reduces the federal loan amount that a less than full-time student can receive. The reduced amount is based on enrollment level. Fall and Spring term full-time credit hours are:
- Undergraduate: 12 credit hours
- Graduate: 9 credit hours, except
- PhD candidates: 1 credit hour
- Summer Graduate: 6 credit hours
Important: Classes dropped after loan disbursement are subject to loan reduction, and an outstanding balance will be due immediately.
Undergraduate enrolled less than full-time calculation | |
Undergraduate Enrollment | Percentage of Loan Limit |
12 | 100% |
11 | 92% |
10 | 83% |
9 | 75% |
8 | 67% |
7 | 58% |
6 | 50% |
Graduate enrolled less than full-time calculation | |
Graduate Enrollment | Percentage of Loan Limit |
9 Credits | 100% |
8 Credits | 89% |
7 Credits | 78% |
6 Credits | 67% |
5 Credits | 56% |
4 Credits | 44% |
3 Credits | 33% |
All loans, except for the Parent PLUS loan, are subject to reduction if enrolled less than full-time.
Interest Rates
The interest rate varies depending on the loan type and the first disbursement date of the loan. See federal loan interest rates for current and past years.
Learn more about interest rates and fees for federal student loans
Consumer Information
Students who accept federal loans will have their loan records submitted to the National Student Loan Data System (NSLDS) and made accessible to authorized agencies, lenders, and institutions.