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威廉D. Ford Federal Direct Loan (Direct Loan) Program

 

 

Download the Federal Direct Loan Brochure!

Federal student loans are an investment in your future. You should not be afraid to borrow a student loan, but you should be smart about it – think about how much you may have to depend on student loans once you enter into a bachelor’s program; don’t mortgage your future by taking on debt unnecessarily at the community college level.

Federal student loans offer many benefits compared to other options you may consider when paying for college:

• 的 interest rate on federal student loans is fixed and usu所有y lower than that on private loans—and much lower than that on 一张信用卡!
• You don’t need a credit check or a cosigner to get a Direct Loan at “大学.
• You don’t have to begin repaying your federal student loans until after you leave college, whether you graduate or not, or drop below half-time.
• If you demonstrate financial need, the government pays the interest on some loan types while you are in school and during some periods after school.
• Federal student loans offer flexible repayment plans including several options in postponing your payments if you are having trouble paying your loan.
• If you work in certain jobs, you may be eligible to have a portion of your federal student loans forgiven if you meet certain conditions.

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How do I request a Direct Loan at “大学?

的 Chabot 财政援助办事处 does not automatic所有y offer Direct 贷款 in the students initial 金融援助 package. Students interested in borrowing a federal student loan are required to submit a Direct Loan Request form to the 财政援助办事处 进行处理. 

的 Direct Loan Request form is available upon request by contacting the 财政援助办事处. 的 form has a different due date every semester published on our Important Dates and Deadlines 网站.

In order to be considered for a Direct Loan, you must:

• 有一个 FAFSA application on record with “大学 for the current academic year AND have 所有 Student 金融援助 Requirements completed (so that over所有 financial aid eligibility can be determined by the Financial 援助办公室).
• Maintain an enrollment level of at last half time (6 units) for each semester that 你获奖了.
• Maintain academic eligibility by meeting Satisfactory Academic Progress (SAP) requirements.

If your Direct Loan Request is approved, in order for your loan funds to disburse, you will first be required to complete:

• 入学咨询 (required for new borrowers who have never borrowed funds through the Direct Loan Program or the FFEL Program)
  • This counseling requirement ensures you understand the terms and conditions of your loan and your rights and responsibilities. You’ll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default.
• Master Promissory Note (MPN) for Undergraduate Students (required each new academic year that you borrow a Direct Loan at “大学)
  • This is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. 部门 of Education.
• Annual Student Loan Acknowledgement
  • Required if this is your first time accepting a federal student loan, you are acknowledging that you understand your responsibility to repay your loan.
  • Required if you have existing federal student loans, you are acknowledging that you understand how much you owe and how much more you can borrow.