Federal Direct Stafford Loans

Please read all the information below before beginning your Entrance Counseling (EC) or Master Promissory Note (MPN)

Continuing your education is a major investment in your future. If you decide to make loans a part of this investment, managing the amount of debt you incur is a major responsibility. To ensure that you understand this responsibility, and the obligations that you are assuming, the Federal Government requires you to participate in loan Entrance Counseling (EC) and sign a Master Promissory Note (MPN) prior to receiving a Direct Stafford Student Loan. Below you will find the loan application guidelines and instructions for Fresno City College.

Applying for a Federal Direct Stafford Student Loan at Fresno City College

Requirements

Applicants must meet the following minimum requirements:

  • Have a completed financial aid file in OK, Warning or Probation Satisfactory Academic Progress (SAP) status
  • Be enrolled in a minimum of 6 units of non-remedial/non-ESL coursework

Application Process

Step #1: Determine eligibility and needs

  1. Before you complete the MPN and/or EC, you must visit the Financial Aid Office in person to determine your eligibility and complete the Loan Questionnaire.
  2. After completing the Loan Questionnaire, follow the steps below:
    • Refer to the instruction slip you received in the Financial Aid Office after submitting your Loan Questionnaire to determine if you need to complete the EC, MPN, or both.
    • You will need your FSA ID to complete the EC and MPN online. If you have forgotten your username or password visit www.studentaid.gov/login to find links that give you the option of retrieving your username or password through your verified e-mail address or by successfully answering your challenge questions.
    • Read all instructions carefully. Keep printouts of your confirmation pages and MPN in the event that proof of completion is requested.
    • If required to complete the MPN, you must provide the name, address and phone number for two references. Please have this information with you before beginning your MPN.
    • If you need help with completing the online loan application process, you may visit the Financial Aid Computer Lab in LI-123 for assistance.

Step #2: Entrance Counseling (EC)

Entrance Counseling is a requirement that provides you with all the information you need to know about the terms and conditions of the loan, as well as your rights and responsibilities as a student loan borrower. Follow the instructions below to complete the EC:

  • Go to www.StudentLoans.gov and Log In
  • After signing in, click the link "Complete Counseling"
  • Under entrance counseling, click on the "Start" Button
  • Select your State and School from the drop down boxes
  • Select "Notify this school"
  • Select "I am completing EC to receive Direct Loans as an undergraduate student." Click continue
  • Read and follow all instructions carefully

Step #3: Master Promissory Note (MPN)

The MPN is a legal binding document. When signed, it signifies your understanding of the rights and responsibilities, your acceptance of the terms and conditions of the loan, and your agreement to repay. Follow the instructions below to complete the MPN:

  • Go to www.StudentLoans.gov and Log In
  • After signing in, click the link "Complete Master Promissory Note"
  • Click the link for "Subsidized/Unsubsidized"
  • Read and follow all instructions carefully

After you have finished the online process…

  • Remember to Logout.
  • Fresno City College will receive the results of your Entrance Counseling quiz and/or MPN electronically. You do not need to return copies to the office.
  • Keep copies of your quiz and MPN results in the event that the electronic results are not submitted properly.
  • Please allow up to four weeks processing time after completing both steps. You will receive loan award notification by email .

Loan Disbursement Date Chart

Refer to the charts below to determine your anticipated disbursement date (your actual disbursement date will be verified on your loan award notification). The disbursement date is determined by the date that you complete your EC and/or MPN requirements:

Fall 2017

Students with Pell eligibility of:

Must complete Entrance Counseling/MPN

**To receive Payment

2017-2018 academic year (continuing borrowers only)

07/28/2017

08/10/2017

2017-2018 academic year (continuing borrowers only)

08/04/2017

08/17/2017

2017-2018 academic year (continuing borrowers only)

08/18/2017

08/31/2017

Any amount

09/08/2017

09/21/2017

Any amount

09/29/2017

10/12/2017

Any amount

10/20/2017

11/02/2017

Any amount

11/03/2017

11/22/2017

Any amount

12/04/2017

12/14/2017

 

Please Note: If Fall 2017 is your final semester, the last day to turn in the 2017-2018 Direct Loan Questionnaire is December 4, 2017. For Spring 2018, April 30 is the last day to turn in your Direct Loan Questionnaire.

**EC results must be transmitted to Fresno City College and your MPN received and processed by the Direct Loans Servicing Center by the deadline indicated above in order to receive payment on the corresponding date. To ensure that your results are received and processed in time, you should complete the required steps prior to 5:00 PM PST on the deadline date.

For additional loan counseling, please follow these steps:**

Complete Financial Awareness Counseling at studentloans.gov. Once you have successfully completed the counseling, click on Export Budget / Repayment to print out your budget. Submit this form as well as all other requested documents to the Financial Aid Office for review. Attach a typed, double-spaced page answering the following questions:

  • What is your current anticipated monthly loan payment? To determine your anticipated monthly loan amount use Loan Calculator.
  • What are your educational financial plans to ensure successful repayment of your student loan debt?
  • For what purposes do you intend to use the federal student loan funds?
  • If over the loan maximum, what are the circumstances that have resulted in the accumulation of your student loan debt?
  • If requesting additional unsubsidized loan, what are your financial plans to continue your education in the future semesters without exceeding the loan maximum?
  • Requested loan amount

Managing your Federal Student Loans

Managing your federal student loan debt is a major responsibility, but there are many resources out there to help you along the way. Whether you are still in school at least half-time or have already left school, it is important to stay on top of your student loan debt obligations. Do you know who your lender is? What is your interest rate? What if you can't make your loan payment? Below you will find various resources to help answer these questions and more.

Loan Resources

The National Student Loan Data System Using your FSA ID you can access your entire loan history
including balances, interest rates, and lender contact information.

Federal Student Aid Loans Access general loan information as well as copies of your MPN and loan correspondence.

US Department of Education

ATT: Applicant Services
P.O. Box 9002
Niagara Falls, NY 14302
Phone: 1.800.557.7394
Email: codsupport@acs-inc.com
Contact the Department of Education directly for questions regarding your rights and
responsibilities or the terms and conditions of your loan.

Payment Help

Having trouble making your loan payment? Don't ignore your loan payment in the hopes that it will go away. It is a federal debt that must be repaid! If you are unable to make your loan payments, there are options out there for you to reduce or postpone your payments temporarily until you are back on your feet. Federal Student Aid website.

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