The College encourages students to borrow wisely.
- All students must complete a FAFSA at fafsa.gov and grant eligibility must be determined first.
- Once grant eligibility is determined, students are to determine the loan amount by completing the Federal Direct Loan Data Form. This form may be obtained by email to email@example.com, or from the Financial Aid office on campus. Once completed, sign and return to the Financial Aid Office by email to firstname.lastname@example.org , fax 252-246-1384, US Mail, or hand deliver to F105B. The form must be physically signed. Digital signature is not acceptable.
- If first time borrowers, students are to go to studentloans.gov and complete the following steps:
- Entrance Counseling for the Undergraduate
- 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.
- 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.
- 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.
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 timeframe.
- There is a limit, based on the length of the program of study, as to how many years a student can receive subsidized loans. i.e. 2 year program = 3 years
- 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.