Process for Applying for Student Loans (Federal Direct Loans)
Students interested in applying for a student loan must first complete a Free Application for Federal Student Aid (FAFSA). This application is available via the internet at www.fafsa.ed.gov or a paper copy is available through the Financial Aid Office at NPCC or through your high school counselor.
After the Student's Financial Aid package is complete, the student's eligibility for a student loan can be determined.
Once the loan has been offered and accepted in the Oasis account, students must complete the loan requirements that are listed in the To Do section of their Oasis account:
Loan Requirements for New Loan Students (never attended loan seminar with us)
New student loan borrowers must first accept loans on OASIS. Once that is complete, each student will see the Loan Seminar course within three business days on Blackboard. Students must watch the PowerPoint, complete the seminar quiz, and turn in the seminar homework (Federal Direct Loan Worksheet) to Brenda House in the Financial Aid Office.
Loan Requirements for Returning Loan Students (previously attended a loan seminar in the last academic year)
Loan disbursements will have the Origination Fee and the Guarantee Fee deducted automatically unless the fee(s) are paid by the lender. The funds will be electronically forwarded to the College by the disbursement date.
Students who receive a student loan must be in at least 6 credit hours and maintain satisfactory academic progress to continue to be eligible to receive the loan funds.
Listed below are the interest rates for Subsidized Stafford Loans from July 1, 2013 through June 30, 2015.
July 1, 2014 to June 30, 2015 - 4.66%
July 1, 2013 to June 30, 2014 - 3.86%
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