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Get your student loan from Great River Federal Credit Union
Lender Code: 832201

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The value of a college education.  Getting a college degree is a worthwhile goal. But the cost of a college education can be overwhelming for both students and parents. That's why Great River Federal Credit Union offers Federal Family Education Loan Program (FFELP) loans. If you or another family member plans to attend a university, technical college, or any other specialized training program, Great River Federal Credit Union can help you with the funding you need to pursue your dreams. Follow the proceeding steps to start the student loan process.

Click here for information on Federal Subsidized/Unsubsidized Stafford Loan
Click here for the Plus Loan Master Promissory note
Click here for the Stafford Loan Master Promissory note

 Federal Subsidized / Unsubsidized Stafford Loan

Student Federal Financial Aid Process

1. Complete the FAFSA. Complete the Free Application for Federal Student Aid (FAFSA) for the academic year in which you would like to receive federal aid. The FASFA can be obtained from the local library, your high school guidance counselor, a college financial aid office, or by calling 1-800-4FEDAID. The FAFSA is also available online from the Department of Education's website at http://www.fafsa.ed.gov/. To make it easier to complete on-line, print out the Web Pre-Application Worksheet. FAFSAs are accepted and processed after January 1 of the year in which you plan to attend school. Be sure to indicate that you want to be considered for a student loan by answering "yes" to that question on the FAFSA.

2. Receive your SAR. Once your FAFSA is processed, a Student Aid Report (SAR) is created. One copy is sent to you in the mail and electronic copies are sent to all the schools you listed on the FAFSA. If you filed a paper FAFSA, allow 6-8 weeks to receive your SAR. If you filed an electronic FAFSA over the Internet, allow 1-2 weeks to receive your SAR.

3. Receive your Award Letter. The school(s) use data from your SAR to determine your financial aid award for the current academic year and sends you an award letter by email or US Mail. Pay particularly close attention to the type of federal loan(s) noted in your award letter. If there is mention of the William D. Ford Direct Lending Program, contact your school for the appropriate promissory note.

4. Complete the Federal Stafford Loan Master Promissory Note (MPN). When completing the MPN, be sure to write the name of your school (please do not abbreviate the name of the school, i.e. U of C), city and state, and school code (if known) in the upper right-hand corner of the master promissory note. After the MPN is completed entirely, make a copy for your record and mail the original to the credit union at:

Great River Federal Credit Union
Attn: Member Service
1532 W. St. Germain
St. Cloud, MN 56301

5. Your Credit Union will complete the application process for you! Once you have completed your MPN, your credit union will send the original note to the processor - Great Lakes Educational Loan Services, Inc. The school you noted on your MPN will then be provided with a School Certificate Form to complete and send back to the loan processor. A list of the processing centers is shown below with toll-free numbers to call and check on the status of your loan disbursements. You may also access www.mygreatlakes.com for information on your account and to make online payments. Once the loan is guaranteed, you will receive a disclosure outlining the amount of the loan, disbursement dates, and the interest rate.

6. PLUS Loan. If your financial aid award is not sufficient to cover your cost of education, your parents or stepparents can apply for PLUS loan (if you are dependent undergraduate student). See your credit union for more information and to request a PLUS Master Promissory Note.

Credit Union State Location:	Send completed MPNs to:	For ?'s on applications, approved loan amounts, and loan disbursement dates:
Minnesota	Great Lakes Educational Loan Services Inc. PO Box 64080 St. Paul, MN 55164	1-800-366-0032

Want to look up the loan information yourself?       Go to http://www.mygreatlakes.com To access IBIS (Internet Borrower Inquiry Service) Click on "Borrower" and log in. New Users click on "Register" and follow the instructions.