RESPONSIBLE BORROWING

  • Before you borrow, determine if you will be able to afford the payments.
  • We encourage you to borrow only what you need to earn your degree. FDLTCC will inform you of the amount of student loans for which you’re eligible, but you can apply for less than that amount.
  • You’re responsible for knowing the total amount you’ve borrowed and how much you have left toward your lifetime limits. You can see a summary of your federal loan debt at studentaid.gov.
  • Your federal student loans go into repayment when you drop below half-time enrollment, leave school, or graduate. At that time, in addition to beginning repayment you will also be required to complete exit counseling.
  • The federal government offers several loan repayment plans (such as Income Driven). Before you choose a repayment plan, use the Loan Simulator to see which plans you may be eligible for, how much you’ll owe overall, and what your monthly payment might be.
  • Inform yourself regarding debt, investing, budgeting – how to manage your money!  You can start by reviewing “Money Management for Students” and “GradReady” on our Money Management Information page.

 

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.

 

LENDER LIST AND LOAN CODE OF CONDUCT

FDLTCC has a historical lender list and does not endorse any lenders. Please read our Lender List and Loan Code of Conduct.

 

LOAN OPTIONS

  • Direct Subsidized Loan
  • Direct Unsubsidized Loan
  • Direct PLUS Loan (Parent Loan for Undergraduate Student)
  • Alternative/Private loans through lenders

Learn More About Loan Options

 

HOW TO APPLY FOR DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED LOANS

  1. 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.
  2. 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.
  3. 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 are provided here:
    Fall/Spring Loan Request Form
    Summer Loan Request Form

 

HOW TO APPLY FOR DIRECT PARENT LOAN FOR UNDERGRADUATE STUDENT (PLUS)

  1. 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.
  2. PLUS Request Form for the term you are attending:
    Fall/Spring PLUS Loan Request Form
    Summer PLUS Loan Request Form

*** Please note: If parent(s) 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 be eligible for more Unsubsidized Direct Loan.

PLUS Credit Check Consent Form

 

HOW TO APPLY FOR ALTERNATIVE/PRIVATE LOANS

FastChoice | Home (fastproducts.org)

 

HELPFUL WEBSITES AND INFORMATION

 

FDLTCC COHORT DEFAULT RATE (CDR)

Year          FDLTCC            National Average

2022           0.0%                      0.0%    *Covid

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

 

To compare FDLTCC’s CDR to the national average

 

 

Testimonials

I chose FDLTCC because of its size and the curriculum. When I first came here in 2019, I was just looking for what I needed to volunteer, perhaps in a crisis shelter. I met with Don Jarvinen, and the rest is history.

It is awesome here at the FDLTCC Education Program because it is like a family here, if you need help or are struggling with anything, you have quite a few people who will help you out.

My favorite thing about FDLTCC is the people. I’ve met fantastic students, faculty and staff who go above and beyond what I expected.