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Getting a Loan

Often once a student accepts a loan on his or her Award Notice, there are additional steps required to secure the loan. These additional steps or requirements can be found on WINGS Express after accepting a loan. When accepting a student loan, it is extremely important that you follow all of the instructions carefully on your Award Notice. Timing is crucial to loan processing, so be sure you complete all of the required steps as soon as possible. Delays could result in the cancellation of your award.

The steps needed to complete loan processing depend upon the type of loan accepted by the student.

Federal Direct Loans

Federal Direct Loans are federal student loans whose funding comes directly from the federal government. Federal Direct Loans that can be accepted by students include:

NOTE: Students cannot accept a Parent PLUS Loan. Parents who wish to apply for a PLUS Loan can visit our Parent Loans page for more information on how the parent can apply.

After accepting a Federal Direct Loan on WINGS Express, the following requirements will appear. (The student must complete the following tasks in order to receive Federal Direct Loan funds):

1. Enrollment Plans Selection (Formerly "Loan Period Selection"). For the 2014-2015 academic year, you must indicate the terms in which you would like to borrow the Federal Direct Loan(s) for the academic year. The loan amount(s) accepted will be evenly distributed over the terms selected, up to your cost of attendance.

Effective for the 2015-2016 academic year, loan funds will be evenly distributed over all terms in the academic year up to your cost of attendance. You must indicate your expected enrollment plans for the academic year (Full-time, Three-quarter-time, or Half-time). If you plan to enroll less than full-time, your loan amounts may change. You must be enrolled at least half-time to be eligible for a Federal Stafford Loan and/or Federal Graduate PLUS Loan.

If you are enrolled less than half-time for a term, your loan funds will be evenly distributed over the remaining terms up to your cost of attendance.

**It is a federal requirement that Federal Direct Loan funds are processed in even disbursements.

2. Direct Loan Entrance Counseling. Direct Loan Entrance Counseling must be completed one time only.

3. Master Promissory Note (MPN). Students must have a valid MPN or eMPN on file with the U.S. Department of Education to secure their loan funds.

Campus-Based Loans

Campus-based loans are student loans for which Wright State University is the lender. Examples include, but are not limited to:

After accepting a campus-based loan on WINGS Express, the following requirements will appear. (The student must complete the following tasks to receive campus-based loan funds):

1. Loan Entrance Counseling. Loan Entrance Counseling must be completed one time only.

2. Loan Disclosure Statement. For each campus-based loan you accept, you must complete a Loan Disclosure Statement.

3. Master Promissory Note (MPN). For each campus-based loan you accept, you must complete an MPN. You must print and sign the MPN and submit it to Raider Connect. You must submit an MPN that has your original signature (no facsimile or photocopies will be accepted). It is strongly recommended you keep a copy of your MPN for your records.

4. Campus-Based Loan Borrower Contact Information Sheet. You must print and complete the Campus-Based Loan Borrower Contact Information Sheet and submit it to Raider Connect.

Alternative (Private)Loans

Students must initiate loan processing by contacting the alternative loan lender and applying for the loan. If approved for the loan, several steps must occur in order to receive alternative loan funds.

Right to Cancel a Loan

You are not required to accept the full amount of the loan offered to you. When accepting a loan on WINGS Express you have the ability to accept all or a portion of the loan funds offered to you. Once you accept a loan online you have the right to cancel or reduce the amount that you accepted. If you want to cancel or reduce the amount of loan funds accepted, contact Raider Connect.

Wright State University shall honor your request to cancel or reduce the loan if we receive your request (1) prior to you receiving a refund check from the Office of the Bursar or (2) after receiving your refund check, you request to return the entire loan disbursement. Otherwise, any portion of the loan that was refunded to you is your responsibility to return to your loan servicer. For assistance in returning loan funds refunded to you, please contact Raider Connect.