Entrance Counseling, MPN and Application
1. If you are a graduate/professional student and have not previously received a Direct Loan at Pratt Institute, you must complete Direct Loan Entrance Counseling before you can receive a Direct Loan. A Federal Student Aid PIN is required to complete online Direct Loan Entrance Counseling.
2. If you intend to borrow Direct Unsubsidized Loan, and/or Graduate PLUS loan, you must complete a Direct Loan Master Promissory Note (MPN) for each loan type. To complete a Direct Loan MPN electronically, you must have a Federal Student Aid PIN.
3. Grad PLUS applicants are required to submit an application (Add hyperlink https://studentaid.gov/plus-app/grad/landing.) every time you borrow. After the application is submitted, the Department of Education will conduct a credit check on all Direct PLUS Loan applicants. PLUS loans will not be processed without credit approval. Please be sure to accurately input your information (name, address, SS#, date of birth, etc.) exactly as you did on your promissory note or the credit check and promissory note will not match which can cause lengthy delays in the processing of your loan and the receipt of funds.
Financial Aid Exit Counseling
All students who have received Federal Direct Loans during their course of study at Pratt Institute are required to complete Exit Counseling when they graduate, withdraw or cease to be enrolled at Pratt. The primary purpose of this session is to help you better understand your student loans debt. You will explore the regulations, repayment options and the consequences of default. Also, you will be reminded of your rights and responsibilities as a Federal Direct Loan/GradPLUS borrower.
You will need your FAFSA PIN and SSN to complete Exit Counseling. Please be sure to have the following available:
- 3 references with complete addresses (This excludes Pratt faculty or staff as references and dormitory addresses)
- Driver’s License (if applicable)
- Employer’s address and phone number (if applicable)
IMPORTANT – This Exit Counseling link only pertains to the Federal Direct Loan and Grad PLUS Programs, not the Perkins, Pratt or Alternative Loan Programs. If you have any questions about the Exit Counseling process, please come into the Brooklyn or Manhattan campus Financial Aid Office, call us at 718-636-3599 or email at finaid@pratt.edu.
*THIS IS A MANDATORY REQUIREMENT FOR ALL STUDENTS WITH FEDERAL DIRECT LOANS AND/OR GRADPLUS LOANS.