Fillable 2019-2020 Student Direct Loan Request

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2019-2020 Student Direct Loan Request

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The 2019-2020 Student Direct Loan Request form is 3 pages long and contains:

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  • 11 check-boxes
  • 12 other fields

Country of origin: US
File type: PDF

U.S.A. forms for Santa Barbara City College

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INTEREST RATE:
Subsidized
and Unsubsidized Federal Direct Loans were the first disbursement date after July 1, 2019 and before June 30, 2020
have a fixed interest rate of 4.53%. Please
note that these rates are determined by the U. S. Department of Education and are
subject to change in subsequent academic years. For additional information on how interest is calculated and what fees are
associated with your federal student loan, visit https://studentaid.ed.gov.
LOAN FEES:
An origination fee is charged on
all Federal Direct Subsidized and Unsubsidized Loans. For loans first disbursed on or after
October 1, 2019 and before September 30, 2020 is 1.059%.
CHECKLIST
TO REQUEST A FEDERAL DIRECT LOAN:
1. Go to https://studentloans.gov
to complete the Entrance Counseling and Master Promissory Note.
a. At the Federal Student Aid home page, click on the Log In link.
b. Input your Username and Password, then click Log In.
c. Once you are signed in, click Complete Counseling
d. Click the Start Entrance Counseling button for Entrance Counseling. Once you finish entrance
counseling and click the Submit Counseling button, you will be at the Entrance Counseling Summary
screen.
e. Scroll down to the Next Steps section and click Complete a Master Promissory Note
2. C
lick on the link Subsidized/Unsubidized.
You will need reference information for two people with different U.S. addresses who have known you at least 3 years.
The first reference should be a parent or legal guardian. NOTE: If you have completed a Direct Loan Master
Promissory Note (MPN) within the last 10 years, you can confirm your MPN status by clicking on Completed
MPNs at the left hand side of the screen.
3. Log on to your SBCC Pipeline account.
a. Click on the Student drop-down menu near the top of the page, then select Financial Aid
b. At the Financial Aid page, click on Award, then Award for Aid Year.
c. At the Award for Aid Year page, click on the Award Overview tab. Click on the Direct Loan Request link.
The link includes the Direct Loan Request form and the Direct Loan Recommendations and
Additional Information page.
d. Review the Direct Loan Recommendations and Additional Information page for helpful tools to
complete the Direct Loan Request form.
e. The Direct Loan Request form is a fillable PDF which you will complete online and print.
4. Come
to the Financial Aid Office with the completed Direct Loan Request form to meet with a Financial Aid Advisor
for loan intake advising.
a. You will need to present a picture ID to complete the loan intake process.
S
PECIAL INSTRUCTIONS FOR ONLINE STUDENTS:
Using your SBCC Pipeline email address, email your co
mpleted Student Loan Request form to directloan@sbcc.edu a
nd
include a legible copy of an unexpired government issued ID. Please note that the Financial Aid Office may contact you
for additional phone counseling and/or video chat in order to process your Federal Direct Loan request. During our
peak processing time, it typically takes 5-7 business days for loan requests to be processed. Please note that incomplete
loan requests will not be processed.
Financial Aid Office: www.sbcc.edu/financialaid/
2019-2020
FEDERAL DIRECT LOAN
INFORMATION & INSTRUCTIONS
The U. S. Department of Education has made available FACT (Financial Awareness Counseling Tool). FACT is an online
interactive resource that provides students with basic financial literacy and information about federal student loan debt.
Students can access FACT at https://studentloans.gov
. Click on Complete Financial Awareness Counseling to learn
more.
In some circumstances Santa Barbara City College can modify or deny a student's loan request. Your loan request may be
reduced or denied for the following reasons:
• Loan request is incomplete.
• Lack of Satisfactory Academic Progress.
• Student's educational goal (declared major) is not eligible for federal financial aid.
• Student is enrolled in courses not applicable to educational goal at SBCC
• Student is not enrolled in at least 6 degree applicable units.
• Student appears to be or have been in default or delinquent on financial obligations.
• Student does not understand rights and responsibilities of borrowing a student loan.
• The purpose of the loan is not related to an educational goal at SBCC.
• The purpose of the loan is not related to educational expenses at SBCC.
• Student has already borrowed a maximum appropriate for SBCC programs.
o We recommend not borrowing more than 50% of your undergraduate maximum, i.e. $15,500 for dependent
students and $28,750 for independent students.
ELIGIBILITY FOR FEDERAL DIRECT LOAN INTEREST SUBSIDY
As a result of legislation enacted in July 2012, eligibility for the Direct Loan interest subsidy will be limited for new borrowers
on or after July 1, 2013. The law restricts the period of time for which a borrower may receive subsidized loans, in the
aggregate, to 150 percent of the published length of the student's current educational program. Once the student reaches that
limit, he or she may borrow only unsubsidized loans, and interest begins to accrue on the student's outstanding subsidized
loan.
THE FOLLOWING POLICIES AND PROCEDURES APPLY TO ALL SBCC LOAN RECIPIENTS
• SBCC is a 2-year institution. Students are only eligible to apply as a 1st or 2nd year student.
• Loans are available to students attending SBCC at least half-time (6 degree applicable units).
• The grade level determined by Admissions and Records will be used to determine offered amounts. Transcripts
from other institutions WILL NOT be considered by the Financial Aid Office to determine grade level for
Federal Direct Loan.
U. S. DEPARTMENT OF EDUCATION STUDENT LOAN OMBUDSMAN GROUP INFORMATION
830 1
st
St, N.E. Mail Stop 5144, Washington, D.C. 20202-5144 Telephone: 877-557-2575
2019-2020
F
EDERAL
D
IRECT
L
OAN
I
NFORMATION
&
I
NSTRUCTIONS
F
EDERAL
D
IRECT
L
OAN
R
EQUEST
INTAKE HOURS:
Monday - 8 am to 4 pm
Tuesday and Wednesday - 8 am to 5:30 pm
Thursday - 8 am to 4 pm
Friday - 8 am to 12:30 pm
A. STUDENT INFORMATION
B. LOAN REQUEST
Please indicate the enrollment period for which you are requesting this loan:
□ Fall Only (December 2019 Graduates only) □ Academic Year (Fall & Spring) □ Spring Only
Please indicate the type and amount of loan you are requesting:
□ Federal Subsidized Loan only $ ______ Amount requested or □ Maximum Eligibility
□ Federal Unsubsidized Loan only $ ______ Amount requested or □ Maximum Eligibility
□ Federal Subsidized & Unsubsidized Loan $ ______ Amount requested or □ Maximum Eligibility
Please indicate your current borrower status:
□ I am a first time borrower
□ I have borrowed in the past and I have attached a print out of my loan history from https://nslds.ed.gov
Please initial your understanding of the following:
I have gone to https://studentloans.gov
and completed the Master Promissory Note which includes reference
information for two people with different U.S. addresses I have known at least three years.
I understand that Direct Loans are disbursed in two payments and that the first disbursement for first- time borrowers is
30 days after the beginning of the semester.
I am enrolled in at least 6 degree applicable units.
C. SIGNATURES
By
signing below, I certify that everything on this form is accurate to the best of my knowledge.
Student’s Signature
Last Name (Print) First Name M.I.
Student ID (K00 Number)
Pipeline Email
Phone Number
2019-2020
FEDERAL DIRECT LOAN REQUEST
SBCC Use Only Intake Date ____________
Advisor ______ Entrance Counseling? Yes Date ______ No Photo ID: Yes No SAP ______
Enrollment Level: Fall 19 ______ Spring 20 ______ Major Verified: ______
Residency: CA NR Balance per TSAAREV: ______ First Time/First Year? ______
History per RNASL20: OK Aggregate Alert ______ Transfer Student – Check COD ______
Sub Loan Eligibilty – SULA Flag, 150% limitation per RPASSUI or RLADLOR:
YES ______ Program Length: ______ Period Used: ______ No SULA Flag: ______ Loan history before July 13
Amount Approved: ______ Disbursement: Direct Deposit ______ Mail Check ______
Loan originated by: ______ Loan origination Date: ______
NOTES: _____________________________________________________________________________________
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Completed 7 March 2020

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