Borrower Initiated Stafford and E-Sign Process
What is the borrower initiated process?
ASA allows students to request a Stafford loan and select a lender using ASA
Direct. Your college financial aid office will be notified electronically
once you complete the process. The borrower initiated process also allows
you to request your loan and sign your Master Promissory Note (MPN) in one
on-line session.
What is electronic signature (e-sign)?
ASA's electronic signature process (e-sign) provides you, the student borrower,
with a faster and more convenient way to process your request for a Stafford
loan. It allows you to complete your Stafford loan application on-line and
legally sign your Stafford Master Promissory Note (MPN) on-line. This process
allows your loan to be approved and loan proceeds to be disbursed more quickly
by providing an alternative to the traditional process of printing the paper
MPN. The e-sign process also provides you with the ability to review an "authoritative
copy" of your electronically signed Stafford MPN throughout the life of the
loan.
Before you start, you will need the following items/ information:
You must have a user ID and password to access ASA Direct. If you do not have a user ID and password, select the 'Are you a first time user?' option and complete the 'New User Registration' form.
You will also need your Federal Student Aid Personal Identification Number (PIN). The PIN is an electronic access code number that serves as an identifier. If you did not complete your FAFSA electronically, or if you do not remember your PIN, you can request a PIN from the U.S. Department of Education Web site (opens in new window).
Two references: You will need the name, address and telephone numbers of two references with different U.S. street addresses. PO Boxes are not accepted. Both references must be completed in full. The first reference must be a parent (if living) or legal guardian.
Valid e-mail address: To access ASA Direct you need to have a user name and password. The e-mail address is necessary for obtaining a username and password. If you do not have an e-mail address, you may sign up for a free e-mail account through a commercial site such as Yahoo or Hotmail.
Browser: Microsoft Internet Explorer version 4.0 or higher and Netscape Navigator version 4.6 or greater (excluding Netscape Navigator version 6.0, which is not compatible with ASA Direct). ASA recommends that you use Microsoft Internet Explorer (IE) version 6.0 with SP1.
Software: Adobe Acrobat Reader version 4.0 or higher to view sections of the Master Promissory Note.
Printer: You must have access to a printer if you wish to print any of the certification pages or promissory note information that will be available throughout this process.
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