William D. Ford Federal Direct Loan Program

The College participates in the William D Ford Federal Direct Loan Program* and offers loans as a part of a student’s Financial Aid package. This program will provide direct subsidized and/or unsubsidized loans to students to be used for authorized educational expenses while enrolled at Wilson Community College.

Grant eligibility for the student must be determined first by completing a FAFSA application and all follow-up paperwork with the Financial Aid office.

  • Subsidized loans are based on need and repayment will begin 6 months after 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 starts to accrue immediately and will capitalize of not paid monthly. Payments can be deferred with half-time enrollment.

Interest rates on all Direct Loans are determined by the Department of Education each year. An origination fee is also charged and is determined by the Department of Education each year.

The following chart shows the annual and aggregate limits for subsidized and unsubsidized loans:
YearDependent Students (except students whose parents are unable to obtain PLUS Loans)Independent Students
First-Year Undergraduate Annual Loan Limit 32 credits or less earned$5,500—No more than $3,500 of this amount may be in subsidized loans.$9,500—No more than $3,500 of this amount may be in subsidized loans.
Second-Year Undergraduate Annual Loan Limit 33 credits or more earned$6,500—No more than $4,500 of this amount may be in subsidized loans.$10,500—No more than $4,500 of this amount may be in subsidized loans.
Subsidized and Unsubsidized Aggregate Loan Limit$31,000—No more than $23,000 of this amount may be in subsidized loans.$57,500 for undergraduates—No more than $23,000 of this amount may be in subsidized loans.


The first disbursement of loan funds in each semester will be after the Pell Grant and State Grant refunds have been processed. The following is an ESTIMATED schedule for initial disbursements.

  • Fall Semester – October 2
  • Spring Semester – March 15
  • Summer Semester – July 3

Loan disbursements for remaining eligible students will be processed on a weekly basis until the end of the semester.


  • Transferring mid-year: Submit a non-returnable copy of the letter from the school you’ll attend that clearly states your acceptance into that school for the following term; or
  • Graduating mid-year: Submit a non-returnable letter from your faculty advisor that confirms that you have completed the courses and have registered for the appropriate classes this semester to graduate at the end of the semester.
  • Summer only loans – When a student has not received a loan at this College during the Fall or Spring semesters.


All students who receive a student loan at Wilson Community College must complete Exit Counseling when they drop below half time, graduate, or leave the college due to withdrawal. Students who leave the College without completing exit counseling are at a higher risk of defaulting on their loans. Be in the know about your loans and complete Exit Counseling!

Go to  https://studentaid.gov/ to complete exit counseling online.


If you have received a student loan while in school, you will go into repayment on that loan at some point. Click on the link below to learn more about loan repayment.

Direct Loan Process

The College encourages students to borrow wisely.

  1. If first time borrowers, students are to go to  studentaid.gov and complete the following (1) Entrance Counseling for the Undergraduate; (2) The Master Promissory Note for the Undergraduate. Note: If you have borrowed student loans before, you do not need to complete Entrance Counseling and the Master Promissory Note.
  2. A face to face meeting is encouraged for first time borrowers and existing borrowers new to our college. However, it is not required as a part of the loan steps to accept loans in the financial aid package.
  3. All students must complete a FAFSA application and grant eligibility must be determined.
  4. The student is to download the following form in the Adobe Acrobat Reader. If someone is using a phone or tablet, the Adobe Acrobat app is needed. Once the Federal Direct Loan Data form is completed, digitally sign and return to the Financial Aid Office by email to hjmoore@wilsoncc.edu. Eligibility will be sent to the student on their college email only.

Direct Loan Data Form(s):

Once the loan amount requested is reviewed, an email will be sent to the student on the college email with instructions to review the status of their financial aid file on Self Service.

For more information contact:

Joy Moore

Joy Moore

Financial Aid Coordinator

Department: Financial Aid

Phone: (252) 246-1417

Email: hjmoore@wilsoncc.edu

Office: F105b

Important Information About Your Loan

  • All students must be enrolled at least one-half time (excluding the maximum # of remedial classes and classes that are not required in the program of study).
  • Students must be enrolled in an acceptable degree/diploma program.
  • Students cannot be on any type of Financial Aid Suspension or deemed ineligible due to the 150% maximum time frame.
  • Funds are to be used for educational expenses only.
  • Students should start the process early and complete in a timely manner for funds to be available 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.
  • Loan payments to a student will always be set up in 2 payments i.e. fall/spring; spring/summer or 2 payments in a single semester.
  • Interest rates and origination fees will be set by the Department of Education each Academic Year.

Note: All loan certifications are reviewed on a case by case basis and results of the review will be presented to the student in writing. The College does have the right to refuse to originate a loan or to reduce the amount of the loan on a case by case basis.

Code of Conduct

WCC participates in the FSA loan program, and has the following code of conduct which bans the following as stated and excerpted from the FSA 2022-23 Handbook:

  • Revenue-sharing arrangements with any lender
  • Steering borrowers to particular lenders or delaying loan certifications, and
  • Offers of funds for private loans to students in exchange for providing concessions or promises to the lender for a specific number of FSA loans, a specified loan volume or a preferred lender arrangement.

 This applies to all officers, employees and agents of the college and does not allow FA employees of the college to receive gifts from lender, guaranty agency or loan servicer.

In addition the employee(s) with responsibilities of education loans and financial aid cannot accept compensation for any type of consulting arrangement or contract to provide services to or on behalf of lender relating to education loans; and cannot accept compensation for service on an advisory board, commission, or group established by lenders or guarantors, except for reimbursement for reasonable expenses.

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Due to the threat of severe weather, the college will be closed on Friday, September 7, 2023.