LOAN APPLICATION PROCESS
Student Loans are available to FDLTCC students and/or parents of students. They can be borrowed to cover the bill at the college or for living expenses. Loans must be repaid, with interest, typically starting after a student stops attending.
LOAN OPTIONS
- Direct Subsidized Loan
- Direct Unsubsidized Loan
- Direct PLUS Loan (Parent Loan for Undergraduate Student)
- Alternative/Private loans through lenders
HOW TO APPLY FOR DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED LOANS
- Entrance Loan Counseling (Entrance). Complete Entrance Loan Counseling at the Federal Student Aid website here.
- After logging in, follow the navigation path for undergraduate, Direct Subsidized and Unsubsidized loan – NOT PLUS loan. We recommend you print all disclosures, including the Borrower Rights and Responsibilities, and keep for your records. After completing the Entrance Counseling, do NOT logout! At the bottom the Entrance Loan Counseling page is a box titled “Next Step,” click on “Complete Master Promissory Note.” There is no need for you to submit anything to the Financial Aid Office because the website will notify the Financial Aid Office.
- Master Promissory Note (MPN). Complete the Master Promissory Note here.
Staying on the same page where the Entrance Counseling ends, in the “Next Step” box at the bottom of that page, click on “Complete Master Promissory Note.” Then, to the right of “MPN for Subsidized/Unsubsidized Loans” click “LOGIN IN START.” We recommend you print the Borrower Rights and Responsibilities and keep for your records. Again, the website will notify the Financial Aid Office that your Master Promissory Note is complete. - Loan Request. Complete the online Loan Request Form on your eServices account here.
Log into the Campus Account, use the menu of the upper left side of the screen. Click on ‘Financial Aid” and then “Loans.” On the Loan Application screen, the amount displayed is the “Full Time” amount. If you are taking less than 12 credits, you can retrieve the accurate loan amount using the “To see your eligibility at all enrollment levels” link. If the loan amount or loan period are incorrect, make the changes and Continue.The following paper Loan Request Forms forms are provided here:
Fall/Spring Loan Request Form
Summer Loan Request Form
HOW TO APPLY FOR DIRECT PARENT LOAN FOR UNDERGRADUATE STUDENT (PLUS)
- Parent PLUS MPN. Do not complete the PLUS Request Process on the website — this is a commonly made error. After completing the PLUS MPN, a credit check is performed by the U.S. Department of Education to determine eligibility. If applying for multiple PLUS loans, Credit Checks must be renewed every 180 days.
- PLUS Request Form for the term you are attending:
Fall/Spring PLUS Loan Request Form
Summer PLUS Loan Request Form
*** Please note: If your parents are not sure if they will be approved, they may have FDLTCC perform a credit check prior to applying for a PLUS loan. If they are denied a PLUS loan the student would get more from an Unsubsidized Direct Loan.
PLUS Credit Check Consent Form
HOW TO APPLY FOR ALTERNATIVE/PRIVATE LOANS
FastChoice | Home (fastproducts.org)
HELPFUL WEBSITES AND INFORMATION
- Check Your Loan History Stafford and Direct Loan history is available at this site.
- Exit Loan Counseling must be completed after receiving the last disbursement of Direct Loans.
FDLTCC COHORT DEFAULT RATE (CDR)
Year FDLTCC National Average
2021 0.0% 0.0% *Covid
2020 0.0% 0.0% *Covid
2019 3.5% 3.7% *Covid
2018 16.3% 11.5%
Want to double-check our numbers? To research FDLTCC’s past three year’s CDRs
- Go to https://fsapartners.ed.gov/knowledge-center/topics/default-management/official-cohort-default-rates-schools
- Click on “Official CDRs for the past three fiscal years*”
- Download Excel file and search alphabetically for FDLTCC School Code 031291
To compare FDLTCC’s CDR to the national average
THE “FINE PRINT”
FDLTCC does not endorse any lenders. Please read our Lender List and Loan Code of Conduct.