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LOANS

Before applying for consideration for Federal Direct Loans, students must have completed a minimum of six credit hours and must maintain a 2.0 GPA.

A Federal Direct Subsidized Loan is awarded on the basis of the student's financial need and other specific eligibility requirements. The federal government does not charge interest on these loans while borrowers are enrolled at least half-time, during a six-month grace period, or during authorized periods of deferment.

A Federal Direct Unsubsidized Stafford Loan is not based on the student's financial need, but students must also meet specific eligibility requirements. Interest is charged throughout the life of the loan. The borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized (added to the loan principal).

The Federal Direct Parent Loan for Undergraduate Students (PLUS) is not based on financial need and is limited to a parent borrower for a dependent student attending at least half-time. A parent is currently defined as a person's natural or adoptive mother or father, step-parent, or legal guardian. The annual limit is equal to the student's cost of attendance, as defined by NW-SCC, minus any other financial aid the student is receiving. Parents are required to pass a credit check. The interest is fixed at 7.9%. Interested parents should contact Student Financial Aid and complete the Undergraduate Federal PLUS Loan application.

Loan applications are available in the financial aid office.

Borrowing funds to pay for your education may be necessary, but it is also a major responsibility. Visit the Higher Education Services website for assistance with successfully repaying student loans.


 Financial Aid Office  |  (256) 331-5364