Depending on the type of loan you receive as part of your award package, you may be required to complete an entrance interview, sign promissory notes, endorse a check or simply wait for notification of the arrival of your student loans proceeds if the funds are sent electronically.

Stafford Loans

First time borrowers (in the college) will be required to complete an entrance interview with the Financial Aid Office as well as a direct loan request form. After these forms have been completed, promissory notes will be generated and mailed for endorsement. Each subsequent year, you will only be required to complete a direct loan request form. When this process is completed and the funds have been received by Suffolk University, you will be sent an e-mail notifying you of the disbursement.

First time Law School borrowers must also complete an entrance interview and sign a Master Promissory Note so that loan proceeds will be disbursed to Suffolk University. The full amount of the student’s eligibility will be disbursed each subsequent year based on your award letter. When this process is completed and the funds have been received by Suffolk University, you will be sent an e-mail notifying you of the disbursement.

Federal Perkins/Trustee/Incentive

Any student who has been awarded a Federal Perkins, Incentive or Trustee Loan from Suffolk University will be required to sign a promissory note. You will be notified of loan signing requirements via an email prior to the beginning of the semester.

Please Note: These loan funds will not be disbursed to your student account until after your promissory note is signed. Failure to sign your promissory note will result in the cancellation of your loan award.

Alternative Loans

In most cases, your funds are received via EFT and an e-mail will be sent to notify you of the disbursement. However, some private loans will require the student’s endorsement if a check is sent. You will be notified by phone or email if the Office of the Bursar receives a check that requires your endorsement. It is extremely important that you respond to our communication immediately because, many checks are valid for only 60 days.

PLUS Loans

Application for the Direct PLUS Loan is made through the Financial Aid Office. Upon completion of the application and approval of the loan the funds will be directly disbursed to your students’ account. Both the student and the loan borrower will be notified upon disbursement of the loan. Any refund generated from a PLUS loan will be mailed to the borrower.

MEFA Loans

(applicable to students in The College of Arts and Sciences and The Sawyer Business School)

The Massachusetts Educational Financing Authority - historically one of the nation’s lowest cost college loan programs - features a set of easy-to-understand financing options designed specifically to meet your family’s needs.

As a not-for-profit state authority, MEFA uses the lowest-cost form of debt financing available, tax-exempt bonds. This provides a competitive advantage over other alternative loans (including the Federal PLUS loan) and allows MEFA to offer among the lowest interest rates available nationwide.

MEFA is here to help your family by offering the best college financing program available today. Just call: 1(800) 449-MEFA or visit their web site at www.mefa.org for more information and current rates.