Applying For Federal Direct Loans

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Financial Aid

 


 
How to Apply for the Federal Direct Student Loan

 

Please be advised that you MUST be enrolled at least half time (six credit hours) in classes within your primary program of study at the time of disbursement to receive Federal student loans. Also: If you are enrolled in a late-starting mini-mester class, be aware that your loan funds may not be disbursed until after the mini-mester begins. Contact the Financial Aid Office if you have questions regarding your status.

Step 1: You must attend a loan information session.
Check our website homepage at www.beaufortccc.edu for session dates and times. Each session will last approximately one hour. You must be on time for the session or you will need to reschedule AND you must stay for the entire session. You will be required to sign an attendance sheet in order to get credit for the class. You do not have to repeat this class to receive future loans.

Step 2: Complete Online Entrance Counseling. Click on the image below to complete this requirement. Print the completed confirmation page for your file. You do not have to repeat this step for future loans.

 

Online Entrance Counseling Session

Step 3: Complete Your Electronic Master Promissory Note (eMPN)
Fill out your eMPN online at www.studentloans.gov using your personal identification number (PIN) as your electronic signature. This is the same four digit number used when completing your FAFSA. Print a copy of the completed MPN for your file.

Step 4: Loan Request Form. Print from this website or pick up in the Financial Aid Office. Complete and submit the form to the Financial Aid Office.

Requesting Additional Loan Funds
If you have already applied for a loan in a given semester but need additional funds AND have remaining eligibility, complete and submit the Federal Direct Loan Increase Request Form to the Financial Aid Office.

These forms can be mailed to our office at PO Box 1069, faxed to (252) 940-6393 or brought to Financial Aid in building 9, room 900.

Graduating or Leaving BCCC?

 

All students who receive a student loan at BCCC MUST complete Exit Counseling when they drop below half-time (six credit hours), leave the college due to withdrawal or graduate. Click on the link below to complete the requirement online.

Direct Loan Exit Counseling from this screen, choose "Exit Counseling".

Loan Questions

 

If you have any questions about your current or previous loan (your responsibilities, regulations, payment options, complaints, etc.) you may contact your lender or the Department of Education's Loan Ombudsman at 1-877-557-2575 or through this link: Loan Ombudsman

To find out who services your student loans (your lender), and how to contact the servicer, call the Department of Education customer service line at 1-800-4-Fed-Aid
(1-800-433-3243).

To find out your Federal Direct Loan balance and/or total debt go to:


NSLDS Logo

Loan Consolidation


When you graduate or leave BCCC, you may want to look into consolidating your student loans so you will have one single payment, rather than several payments for different loans or payment to different lenders. For more information on loan consolidation, click on the image below.

Direct Consolidation Loans

 

Borrowing From A Private Lender

 

1. Review Federal Aid First
This link will explain the difference between Federal and Private Loans.
U.S. Department of Education Federal Aid

2. Complete Financial Aid File
You must have a completed financial aid file, including the FAFSA and all follow-up paperwork. Our school code is 008558.

3. Apply
Choose a lender or Bank to apply for a Private Education Loan. BCCC does not offer a preferred lender list for private loans. Students may check with their bank or research private loans on the Web. We strongly encourage students to borrow Federal loans first as they offer better benefits and interest rates. Interest rates on private loans are usually higher than on Federal loans.

4. School Certification
Our office will certify the loan once we receive a certification request from your lending institution and your financial aid file is complete. Private loan limits are set by Federal regulations and cannot exceed the cost of attendance minus any financial aid received. We are not responsible for the timeliness of private loans and students should address all customer service issues with their chosen lender.

5. Eligibility Requirements
For most private lenders, there is no minimum credit hour restriction nor do they require the student to be making satisfactory academic progress as determined by the school. Students should verify restrictions with their lender. Be aware that most private lenders require a good credit rating and may also require a co-signer.

 

 

Beaufort County Community College    252-946-6194