Credit Union of America can provide the Master Promissory Note on both Stafford (student) Loans and Plus (parent) Loans.

The student will need to complete the free application for Federal Student Aid (FAFSA) for each academic year you wish to receive federal aid. The FAFSA can be obtained from your high school guidance counselor, college financial aid office, by calling 1-800-4FEDAID or is available from the Department of Education’s web site at www.fafsa.ed.gov.

Once the FAFSA is completed and processed, a Student Aid Report (SAR) is created and one copy sent to you in the mail and electronic copies are sent to all the schools you list on the FAFSA.

The schools will use the data from the SAR to determine your financial aid award for the current academic year and they will notify you via an award letter.

Visit CUA for assistance in completing the Federal Stafford Master Promissory Note (MPN). After the MPN is completed, you will retain a copy and CUA keeps the rest. We will send the original note to the loan processor. Your school will then be provided with a School Certification Form to complete and return to the loan processor. Once the loan is guaranteed, you will receive a notice of guaranty and a disclosure outlining the amount of the loan, disbursement dates and the interest rate.

You can contact www.mygreatlakes.com for information on your student loan account. Click on “borrower” and log in. New users click on “register” and follow the instructions. You may also call them at 1-800-247-0462 for questions on the applications, approved loan amounts and loan disbursement dates.

If you don’t qualify for a Subsidized or Unsubsidized Stafford Loan or your award is not sufficient to cover all costs listed on your award letter, your parents or step-parents can apply for a PLUS Loan (if you are a dependent undergraduate student). Contact CUA to request a PLUS Loan Master Promissory Note.