Completing the Loan Process

Review your award notice online; plan your budget for the year; calculate how much funding you need; and return to the EVMS Online Financial Aid System to accept, reduce or decline your loan(s).  If accepting loans, you must complete the loan process. 

Some steps you will do once (*) for each type of loan, others must be repeated every year. 

For federal Direct Unsubsidized or Direct Grad PLUS loans, go to and using your FAFSA FSA ID (if you have not made the switch from FAFSA PIN to FSA ID, the system will take you through that process):

  1. Complete Entrance Loan Counseling* for each type of loan
  2. Complete a Grad PLUS Loan Request (performs credit check) annually (be sure to request maximum on the request and control actual disbursement by award acceptance process)
  3. Complete Master Promissory Note (MPN)* for each type loan
  4. Review loan disclosures provided on each loan by federal processor    
  5. Take advantage of financial awareness counseling at or AAMC FIRST

EVMS has moved to active acceptance because of recent changes in the way the Cost of Attendance budget is calculated and an increase in loan fees.   If you have completed the loan process, federal direct loans will be released by EVMS Financial Aid (FA) on the first day of the term for origination and disbursement with the federal processor.  Prior to disbursement your enrollment status and satisfactory academic standing must be confirmed.  Financial Services pulls the funds from the federal processor and disburses to your student account. 

For private EVMS loans and federal Perkins loans: 

  1. University Accounting Services (Sign My Loan) will notify you when your loan record has been prepared 
  2. Complete entrance counseling for each loan
  3. Complete a master promissory note for each loan
  4. Complete self-certification form for each private loan
  5. Review all loan disclosure forms 
  6. Notify FA in writing if you wish to decline a private EVMS loan or federal Perkins loan after your initial online submission.

Private EVMS loans, Title VII (HRSA) and federal Perkins loans must originate and be held for the right of rescission period (time in which  you could cancel) prior to disbursement to your student account.