Master Promissory Note & Entrance Counseling
In addition to completing the FAFSA each year, first-time Direct Subsidized & Unsubsidized loan borrowers at CalArts must complete the two steps below once before the first year they borrow loans:
1. Complete a Master Promissory Note (MPN) online:
2. Complete Direct Loan Entrance Counseling:
Under federal financial aid guidelines, all federal student loan borrowers who graduate, drop below half-time, or withdraw from California Institute of the Arts are required to complete Federal Loan Exit Counseling. During exit counseling, an overview of borrower rights, responsibilities, and repayment options will be provided. Topics covered include: loan repayment options, deferment, forbearance, delinquency and default, loan consolidation and loan forgiveness programs. Additional financial resource materials and links are also provided to support responsible debt management practices.
You must compete Federal Loan Exit Counseling within 30 days of notification from California Institute of the Arts that exit counseling is required. You can complete the required Federal Loan Exit Counseling session at: https://studentloans.gov.
* If you borrowed a Federal Perkins loan while attending CalArts, you will receive a separate communication from the Accounting Office which will direct you to complete Perkins Loan Exit Counseling. For questions, please contact Rebecca Garcia (the Accounting Office) at (661) 253-7852
National Student Loan Data System
U.S. Department of Education created and maintains a database of all students' Federal loan data, making it simple for students to keep track of all loans borrowed throughout the course of their educational career.
The database is called National Student Loan Data System (NSLDS) and can be found at https://nslds.ed.gov. Included in the database are all Federal student loans borrowed at any post-secondary institution attended. Parent PLUS loan data is also included in the NSLDS database and can be found both under the student and the parent NSLDS profile. NSLDS does not maintain information for Private/Alternative loans borrowed.
Please visit https://nslds.ed.gov and click the "Financial Aid Review" tab. Keep in mind that the student (or parent, if searching for Parent PLUS loan information) FSA ID and password are required to access NSLDS.
Should you wish to contact NSLDS about your loan data, please contact them at (800) 999-8219 or firstname.lastname@example.org.
Review Repayment Plans and use the Repayment Estimator at: https://www.studentloans.gov/myDirectLoan/repaymentEstimator.action.
Information disclosed to students or parents of students who enter into an agreement regarding a Title IV, HEA loan that the loan will be submitted to NSLDS and accessible by authorized agencies, lenders, and institutions. [HEOA 489 amended HEA Sec. 485B] (20 U.S.C. 1092(b)