Educational Loans

There are various loan options available to students to help fund the cost of college. Here is a brief overview of the loan options.

Information and Policies

The amount you are eligible to receive from the Federal Stafford Loan program is listed on your award notification on your WESS account.

First time Federal Stafford Loan recipients must sign the Master Promissory Note (MPN) and complete Entrance Counseling. Both of these processes must be completed before the loan funds can be disbursed to you. To complete these requirements please go to

Students that are graduating, withdrawing or are less than half time must complete Exit Counseling.

Students or parents of students who enter into an agreement regarding a Title IV HEA loan (Stafford, PLUS, Grad PLUS, Perkins or TEACH) will be submitted to NSLDS and accessible by authorized agencies, lenders, and institutions. 

Stafford Loan

The Stafford Loan is obtained by filling out the FAFSA and is part of the Federal Direct Loan Program.

Perkins Loan

The Perkins Loan is obtained by filling out the FAFSA and is awarded by Montclair State University to students demonstrating significant financial need, based on the information provided on the FAFSA.

Federal Parent Loans (PLUS)

The Parent PLUS Loan is a loan that is available to the parent of a dependent student. It can cover up to the cost of attendance for a student. A parent can apply for this loan through the Federal Direct Loan Program.

Graduate PLUS Loans (Federal Student Aid Web site)

Graduate students may apply for this loan through the Federal Direct Loan Program to cover up to the cost of attendance. The same terms and conditions apply to this loan that apply to the Parent PLUS loan.

Private Loans

The Office of Student Financial Aid strongly recommends that students borrow through the previously mentioned federal loan programs. Interest rates are capped for each of these loans, and the federal student loan program has provisions such as a grace period, forbearance, deferment, various payment options and loan consolidation to assist students with repayment. However, some students may still need assistance to cover the full cost of a Montclair State education. These Private Loans can assist with that. Please know that approval for these loans is credit based for the borrower (the parent, student or co-signer).