PDF Applying for a William D. Ford Federal Direct Loan (Direct ...

Applying for a William D. Ford Federal Direct Loan (Direct Loan) at Shasta College

Before you apply for a William D. Ford Federal Direct Loan (Direct Loan), please review the following:

Please visit and review the information found here on borrowing through the Federal Direct Loan Program:

Check out the current interest rates here:

Have you created a budget? Do you know exactly how much you really need to borrow? If not, here is a budget to help you plan financially for your upcoming academic year: Budgeting Worksheet (also found at: shastacollege.edu/fa_finlit)

Before you borrow, see how much your payments will be here: 73.1561563245-1258982002.1560896538

Review Time Limitations on borrowing through the Federal Direct Loan program here:



Have questions on borrowing? Make an appointment with a Student Services Specialists for hands on assistance: Make an appointment with a Specialist today! (also found at: shastacollege.edu/fa_finlit). You can also visit our Student Success Center located at Shasta College's main campus, Building 100, Room 102 for hands on assistance applying for a loan. View hours of operation at: Student Success Center

Quick Check List to Apply:

Obtain an updated Educational Plan (complete, not partial)

Submit your FAFSA and complete required steps for award letter

Receive your Award Letter and Assess Need

iGRAD Entrance Counseling

Complete your Loan Agreement for a Subsidized/Unsubsidized Loan

(Master Promissory Note)

Request Loan Amount through MyShasta portal

Receive confirmation of loan eligibility once evaluated (processing takes 2-4

weeks depending on time of year)

See pages 2-6 for detailed instructions on steps to complete.

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How to Apply for a Federal Direct Stafford Student Loan:

Step One: Obtain an updated Educational Plan (complete, not partial) including other college transfer units.

To make an appointment with a counselor, please call 530-242-7724 or schedule an appointment here: ngs

Step Two: Submit your FAFSA at and complete any necessary steps required to evaluate your federal and state aid eligibility with the Financial Aid Office at Shasta College.

Step Three: Receive your Financial Aid Award Letter to determine how much you need to borrow. Step Four: Complete iGRAD Entrance Counseling

Login in to the Shasta College Portal, click on iGRAD, and create an iGRAD account

Complete iGRAD's Entrance Counseling:

*If you completed iGRAD Entrance Counseling for Shasta College for 2018-2019, you do not need to repeat the counseling.

Note: If you are identified as a high-risk borrower, you may be asked to complete additional iGRAD counseling. In order for Shasta College to maintain eligibility to administer federal and state financial aid for all students, the college is required to manage a federal cohort default rate. The cohort default rate is determined by the federal loan services when students become delinquent and/or defaulted on their student loans. The college may deny a loan request based on being classified as a high-risk borrower. The college will provide students in this classification the opportunity to explain their situation for possibly being granted additional loans.

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Step Five: Complete your Loan Agreement for a Subsidized/Unsubsidized Loan

(Master Promissory Note, if you have signed this within the last 10 years you can skip this step) a. Login and complete the agreement here: an%2FlaunchMpn.action%3FmpnType%3DsubUnsubMpn Note: You will need your FSA ID and FSA password (from FAFSA). If you have misplaced them, please visit this link to retrieve

Step Six: Login to MyShasta Portal:

Next go to the Student Menu and click on My Financial Aid:

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Next click on Financial Aid drop down and select Request a New Loan:

Next, apply for the TOTAL amount of loan you wish to borrow from the Department of Education. Only request what you abolutely need to help cover the costs to attend Shasta College. Every dollar released to you, must be paid back with interest accued.

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Select the terms you will be attending. If you plan to attend one term, only select the term you plan on attending. Note: Whether you request a two-term loan or a one-term loan, there will be always be two disbursements.

Next, review and submit your request for your eligibility to be evaluated for a Federal Direct Stafford Loan.

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