2) If you do not already have a financial aid PIN (the same one you may have used to sign your FAFSA on the web), you must file for one at  http://www.pin.ed.gov  in order to do the MPN on the web.

3) Ask in the Financial Aid Office for the Direct Loan Request Papers.  Complete and submit the request forms and a copy of your completed Queens College DL eMPN in the Financial Aid Office *** Call first to be sure when we begin accepting applications if you are filing for a semester that has not yet begun.  Before filing these request papers you must be sure that:

• You receive the Student Aid Report (SAR) and have resolved any problems
• Your TAP award is determined
• You have been evaluated for other aid
• You have registered for at least 6 credits for the first semester of the loan period.  

5) We don't like to encourage students to take more than they need in loan. If however you find that you need to request review of your eligibility for an INCREASE in the Direct Loan already processed and awarded, you may do so in any one of the following ways:

• complete our Request for Direct Loan Increase form - from the web or in the office; OR
  
• fax or bring in a letter to the Financial Aid including the date, your ID#, your name (printed), specific details of your DL increase request (amount, semester, subsidized and/or unsubsidized), and your signature; OR
  
• send all of the above in an email to our Direct Loan Coordinator at socorro.gago@qc.cuny.edu .

Interest Rates
Direct Loan interest rates are variable and are adjusted each year on July 1.  As of July 1, 2003, variable interest rates on student loans dropped to historically low rates.  Your interest rate starts at the rate in effect when your loan goes into repayment.

Exit Counseling
When you drop below 6 credits, you are required to have an Exit Interview for your Direct Loan. You may do it in person in the Financial Aid Office. You may also do the exit counseling on the web at http://www.dlssonline.com/ - select the link for Exit Counseling that is on the top of the page. When you complete the exit counseling, print the Rights and Responsibilities Summary Checklist that is a part of the exit on the web, and return it to the Direct Loan Coordinator in the Financial Aid Office.

Loan Consolidation
Sometimes you can combine loans taken under a variety of student loan programs into one, through a process callled student loan consolidation.  Note that loans that have been consolidated often do NOT retain the original provisions of the various loans.  Be sure that you understand the implications of consolidating and what each consolidator offers if you think you might want to do this.

More about the Direct Loan
More about the Direct Loan is available on the web at http://www.ed.gov/offices/OSFAP/DirectLoan/pubs/studentbasics.pdf and on the web at http://www.ed.gov/offices/OSFAP/DirectLoan/pubs/entrcounselguide.pdf . See also http://studentaid.ed.gov/PORTALSWebApp/students/english/cancelstaff.jsp?tab=repaying for information on the limited possibilities under this program for  teacher cancellation.

Please note: The Direct Loan and the Perkins Loan are two separate programs,with different requirements and provisions.