Wilson Community College will participate in the William D Ford Federal Direct Loan Program. This program will provide subsidized and/or unsubsidized loans to students to be used for authorized educational expenses while enrolled at Wilson Community College. Subsidized loans are based on need and repayment will begin upon graduation or when the student is no longer enrolled a minimum of half-time. The interest is subsidized by the government as long as the student is enrolled a minimum of half time. Unsubsidized loans are not based on need, interest and payments start immediately. Interest rates on both loans are determined by the Department of Education each year. An origination fee is charged on both types of loans and is also determined by the Department of Education each year.
Students must be enrolled at least one-half time (excluding the maximum of remedial classes) in an acceptable degree/diploma program to be eligible. Students must not be on Financial Aid GPA Suspension, Financial Aid Suspension and must be able to complete their curriculum before they exceed 150% of credits required to obtain a degree in their curriculum. Funds cannot be used to purchase a vehicle, pay legal fees or consumer debts.
The Financial Aid office will not automatically award a loan to a student. Requesting a loan does not guarantee approval. Each request will be evaluated on a case by case basis. The student is responsible for checking the school email address and the personal email address provided on the request form. Email will be the method used to communicate with student.
If a student is interested in a Direct Loan, they must request a loan by completing the following steps
Once all steps are completed above, the Loan Officer will calculate eligibility and discuss with the student by email. Once confirmed, the student will be asked to meet for face to face entrance counseling.
Note: Because this is a loan process, applicants should start the process early and complete in a timely manner for funds to be available to be applied to the student’s account by registration deadlines. Due to the processing time restraints, the Financial Aid Office may not be able to award Direct Loans during the week(s) of early or regular registration.
Wilson Community College participates in the Parent Plus Loan provided by the William D Ford Direct Loan Program. This loan provides funds borrowed by the Parent on behalf of the dependent student (as defined by the Department of Education) for authorized educational expenses while attending Wilson Community College. This loan is based on credit worthiness as determined by the Department of Education. This loan is to be repaid by the Parent at a rate determined by the Department of Education. The Department of Education will charge an origination fee also determined by the Department of Education. Repayment will begin within 60 days of disbursement.
Interested Parents must follow the process below:
Once all of the above items have been received/verified, the Loan Officer will contact the Parent via the email or phone number provided on the request form to discuss loan findings and further steps.
Financial Aid Assistant Director/Loan Officer
Director of Financial Aid & Veterans Affairs