Types of Aid

Federal Loans

Loans are funds that must be repaid. Application for loans must by made be completing the Free Application for Federal Student Aid (FAFSA). You begin repayment on your student loans 6 months after you graduate or drop below half time enrollment.

Refer to the College's Academic Progress Policy for the academic requirements for student loan borrowers.

Federal Direct Stafford Loan

If you have financial need remaining after all your other educational awards are taken into account, you may be able to borrow under this program. Maximum amounts are $3,500 per year to students that have less than 31 credit hours earned in their program of study; $4,500 per year to students that have more than 31 or more credit hours.

Federal Direct Unsubsidized Loan

If you do not show financial need per the federal formula or based on the financial aid office evaluation, or have additional need after maximum Stafford Loan, you may borrow under this program.  The maximum unsubsidized loan is $6,000 per year.

Federal Direct Parent Loan for Undergraduate Students (Plus)

Parents may borrow for their children's college education under this program. The FAFSA form must be completed and the processing of the funds is similar to the two loans above.

Electronically Sign Your Master Promissory Note

All student loans are processed through the Federal Direct Student Loan Program. Once you receive your award notification from Rose State College, you're required to accept their student loan offer online using the RSC student information system (OASIS). Instructions on how to accept/decline your financial aid are located below. 

Once you accept your student loan, your information will be sent to the federal government for processing. After you accept your student loan you will be able to complete the Master Promissory Note (MPN) online. It is good for up to 10 years and you will not need to complete a new MPN each year.

Reminder, first-time students who are borrowing for the first time cannot receive the first disbursement of their student loan until 30 days into the semester.

Student loan debt is at an all-time high throughout the United States. Students are finding it harder and harder to afford their loan payments due to the fact that they borrowed more than they needed.  Failure to repay your student loans once you leave school will have negative affects on your credit rating making you unable to purchase the things you want such as a new car or a new or first home. The Federal Government may also garnish your wages and intercept any tax refunds in order to pay for a defaulted student loan.  We encourage you to borrow responsibly and only borrow what you absolutely need in order to pay for your education. Loans should never be used to try and replace employment while you are in school.

Complete Your Direct Loan MPN

To complete the MPN click the link below to be taken to the Direct Loan website.  You will need your student FSA ID to verify your identity and to electronically sign your MPN.  If this is your first time to receive a student loan you are also required to complete loan entrance counseling.  Loan funds can not be released until the entrance counseling requirement has been completed.  Check the "Holds" area in student self service to see if you are required to complete entrance counseling.  If you are unsure about entrance counseling it is best to retake the session to prevent delays in the disbursement of your Direct student loan.  Entrance counseling can be completed from the Direct Loan MPN website as well.  Please read all instructions carefully when completing the MPN or entrance counseling.

Accept/Decline Loan Instructions (PDF)
Accept/Decline Awards
Complete Your Direct Loan MPN
Time Limitations on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013.
Entrance Loan Counseling - Complete the Entrance Loan Counseling requirement for student loan borrowers.
Financial Awareness Counseling - Financial Awareness Counseling provides tools and information to help you understand your financial aid and assist you in managing your finances.  This is an optional process and does not replace the Entrance Loan Counseling requirement.

Entrance Counseling for Student Loans

Students who borrow federal student loans must complete Entrance Counseling before they can receive their first federal student loan.  Entrance counseling provides the student with information about the student loan process and what to expect while in school.

  • Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013
  • Complete Entrance Counseling - You will need to sign in to the website using your FSA ID to complete the entrance counseling requirement and list Rose State College as a school to receive your results.

Exit Counseling for Student Loans

Students who receive a Federal Stafford Loan are required to complete an exit counseling session once they graduate or are no longer enrolled as a half time student.  Exit counseling provides the borrower with helpful information on what to expect now that they are no longer in school and prepare to repay your federal student loan(s).  Click the link below to complete the session.

Complete EXIT counseling  - Choose Exit Counseling on the page that opens.  Be sure to sign in using your FSA ID and have the results sent to Rose State College once you complete the session.