DIRECT STUDENT LOANS

Beginning in the 2021-2022 financial aid award year, student borrowers will be required to view how much they currently owe in federal student loans, and to acknowledge that they have seen this amount, before a school can make a first disbursement of the first Direct Loan that a student borrower receives for each new award year. The Department of Education’s Informed Borrowing Confirmation process must be completed once each award year for the first loan a borrower receives for that award year, starting with loans associated with the 2021–22 Award Year.

The Direct Loan Program provides financial aid through borrowing funds from the U.S. Department of Education. Any Student Loans will be submitted to the National Student Loan Data Systems (NSLDS). Repayment begins six months after the borrower leaves college or drops below half-time status. Loans are either subsidized (interest-free) loans or unsubsidized (low-interest) loans. 

Applying for a Student Loan

1. Before applying for a direct student loan:
   1. You must have completed the current year’s FAFSA form and have turned in all of the necessary information to the Financial Aid Office.
   2. You must obtain an active FSA ID from studentaid.gov .

2. Once you have completed the steps above, go to studentaid.gov .
   1. Sign in using your FSA ID.
   2. Complete the Entrance Counseling (make sure to choose Northeast Alabama Community College from the drop down menu).
   3. Complete the Master Promissory Note (Subsidized/Unsubsidized Loan MPN)
      
       *Make sure you complete BOTH steps B & C*
       

      

3. Register for classes (you must be pre-registered for at least 6 semester hours).

4. You must wait 24 hours then come in to the Financial Aid Office to sign a loan counseling form.
   
    

**Students can access their loan information at NSLDS.**