Most students enrolled at Alcorn State University choose to borrow to assist with their education financing. Students qualify for the Direct Student Loan, either Subsidized or Unsubsidized. The amount that students are eligible to borrow are based on the student’s grade level and need. Students are awarded a student loan only if a request has been made by submitting a Direct Loan Request Form.  The interest on Subsidized Loans does not accrue until the student graduates or leaves school or drops below half-time enrollment. The interest on Unsubsidized Loans does accrue while the student is in school, but payment of the interest may be deferred until repayment or the student may choose to pay interest while in school in order to avoid “paying interest on interest”.  Parents of students that are dependent can borrow a Direct PLUS Loan.  The Parent must request that the student receive a PLUS Loan award through the Direct Loan Request Form. Repayment begins immediately after the second disbursement has been made. Master Promissory Note:  If you have not signed a Master Promissory Note, please click on the following link:  http://dlenote.ed.gov.  You must have a signed Promissory Note before receiving loan funds. Financial Aid History: To check your financial aid history, please click on www.nslds.ed.gov. Online Counseling Entrance Counseling is a process that all first-time borrowers and transfer students at Alcorn State University must do before loan funds will be disbursed to the Business Office for payment of fees. Entrance Counseling can be done by viewing the entrance counseling tape in the Office of Financial Aid or online through the Direct Loan Website. Entrance Counseling informs you about your rights and responsibilities as a Direct Loan Borrower.  Exit Counseling is a process that all student loan borrowers must do if they are graduating, transferring or withdrawing from Alcorn State University. As you near graduation you will receive information on loan repayment from the Direct Loan Servicing Center. You are responsible for timely payment of your loans. Failure to comply with repayment obligations can cause you to have a negative credit rating.  You can complete online counseling by clicking on the counseling that applies to you. You will need a PIN (www.pin.ed.gov) after completing a FAFSA to complete online counseling. You may also use your name, social security number and date of birth. Once you have passed the entrance or exit counseling quiz, the system will display the quiz results and your rights and responsibilities. You must print two copies of the rights and responsibilities page. One copy is for your records and the other must be submitted to the default management coordinator in the Office of Financial Aid.