Current Students

Information on Loans

Federal Stafford Loan

This loan is guaranteed by the federal government. You are eligible for this loan if you are enrolled at least half-time in a degree seeking program, are not in default on a federal loan or owe a repayment on a federal grant, and meet all other eligibility criteria.

There are two types of the Federal Stafford Loan - Subsidized and Unsubsidized.

While there are some differences in these loans, both have the same interest rate and repayment terms.

Subsidized Stafford Loans are based on financial need as determined by the Free Application for Federal Student Aid. The government pays the interest on Subsidized loans for you as long as you remain enrolled at least half-time in a degree seeking program. The amount you can borrow during each academic year is based on your grade level.

Unsubsidized Stafford Loans are not based on financial need. You are responsible for the interest while you are in school. You can either pay the interest quarterly or have it accrue and added to the loan principle. Independent students may qualify for additional Unsubsidized loans. Contact the Financial Aid Office to find out if you qualify.

If you qualify for a Federal Stafford Loan, it will appear on your financial aid award letter. Once you have received your award letter, you must complete a Stafford Loan Information Form before the loan can be processed.

After you have completed the Stafford Loan Information Form:

  1. You will return the form to our office
  2. We will certify your loan eligibility and transmit that information to SallieMae. This process begins as soon as the financial aid file is complete. We will notify you if we need additional information.
  3. A preprinted Master Promissory Note (MPN) will be sent to you by SallieMae.
  4. You will complete unanswered items on the MPN, read it carefully and then sign and date it.
  5. You will return the MPN to the address listed in the upper-right corner of the form.

Disbursement of Loan Funds

  • The lender sends the funds to Martin University
  • We verify you class attendance
  • We apply the loan funds to your college charges
  • We mail any remaining funds to you at the address listed on the MPN

If you have any questions about this process, please call us at 317-917-3354.

Federal Parent Loan for Undergraduate Students (FPLUS)

Click here for Pre-Approval Instructions

If you are a dependent student enrolled for at least 6 credit hours, your parent can apply for a PLUS loan to help you pay for college. The amount your parent can receive depends on the number of hours in which you are enrolled and the other financial aid you receive.

Loan Entrance Interviews

If you are a new student to Martin University or this is the first time you are receiving a federal loan through Martin University and you have not completed the Loan Entrance Interview, you must complete a Loan Entrance Interview before you can receive disbursements on your student loan.

Loan Exit Interviews

You must complete a Loan Exit Interview when you leave Martin University.

Preferred Lender List

  • Chase Bank
  • Fifth Third Bank
  • National City of Indiana
  • Nelnet