Loan Confusion!! Please help!

mepatel
Tue, 31 Aug 2010 22:02:22 +0000

First off, I didn’t get any gift aid/any other kind of help from the federal government or ucla. So, my whole college tuition is going to be paid through loans, and loans are very confusing. :/

However, I did receive a Robert C. Byrd scholarship for $1,300 and the
letter I received told me informing me that I got this scholarship
told me that it went straight to UCLA, but I don’t see this amount on
my eFAN?
I’ve received my eFAN and my parent and I understand how much money needs to be borrowed, we’ve maxed out my loan and tried to minimize that of my parents.

For a student to receive a direct loan, they must complete the online
course (Debt Management Session), according to
[UCLA Financial Aid Office - LOANS FAQ’s](http://www.fao.ucla.edu/faqs_loans.htm), which I’ve already done, and
I’ve printed the 3 confirmation pages. First step done right?

For a parent to receive a federal loan they must submit a Master
Promissory Note, correct? but here’s the thing,
[UCLA Financial Aid Office - LOANS FAQ’s](http://www.fao.ucla.edu/faqs_loans.htm) gives the link to complete the
MPN as https://opennet.salliemae.com/
But we see no link at there, at SallieMae, to do just that . Also in
the Parent PLUS guide
(http://www.fao.ucla.edu/publications/2010-2011/Direct_Parent_PLUS_Loan_Guide.pdf)
it says to complete the MPN at www.StudentLoans.gov, so which one is
right?

QUESTION: After the above 2 steps are done, we accept the eFAN correct?

QUESTION: This is basically the “now what” question. How do I get the
money from these loans to pay for tuition and housing? (Not by credit
card, that’s for sure!)
I’ve read something about it going electronically into my BAR account.
Which can be accessed through the www.ursa.ucla.edu in the financial
aid section, correct?

QUESTION: How can I be sure that the amount deposited in my BAR
account will be enough to cover my tuition and housing expenses for
that quarter?

Thank you so much for the help!!! If anything is unclear I can explain it again.