Fillable 2020-2021 Federal Direct Student Loan Request Form (Leeward Community College)

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2020-2021 Federal Direct Student Loan Request Form (Leeward Community College)

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FINANCIAL AID OFFICE
Financial Aid Office * 96-045 Ala Ike Street * Pearl City, 96782
Phone: 808 455-0606 * Fax: 808 453-6371 * Website: www.leeward.hawaii.edu/finaid * MyUH Services: https://myuh.hawaii.edu
2020-2021 Federal Direct Student Loan Request Form
_____________________________________________ _____________________ _________________
Last Name First Name UH ID/Username Phone Number
Federal student loans are from the U.S. Department of Education to help pay for your college education. It is important that
you borrow responsibly so that you will be able to repay them when you leave school. Before you request a student loan,
please consider your current loan balance and understand how much you have currently borrowed.
Follow these steps to find your current student loan balance(s):
1. Go to: https://studentaid.gov
2. Log in with your FSA ID and password
3. Under your name on the top right corner, click on “My Aid”
4. Review your total Subsidized and Unsubsidized loan amounts and answer the following:
a. What is your current total outstanding principal balance of your Subsidized loan? $ _________________
b. What is your current total outstanding principal balance of your Unsubsidized loan? $ _______________
NOTE: If you have never borrowed student loans before, please keep in mind that loan funds for first-time borrowers will not
disburse until 30 days after the start of the semester.
After carefully reviewing your federal student loan information, please complete the following:
I am requesting a (check all that apply): SUBSIDIZED Loan UNSUBSIDIZED Loan
I am requesting for a loan amount of: $ _________________
Please keep in mind that the loan amount you are requesting is for the academic year unless you are graduating at the end of the Fall semester,
entering in the Spring semester, or nearing your maximum timeframe (see our SAP policy on maximum timeframe).
My expected Leeward CC graduation date is: __________________ (Semester/Year)
I will also complete the Entrance Counseling and Master Promissory Note (MPN) online at: https://studentaid.gov
(unless I am a continuing student who had taken out a student loan during the previous academic year at Leeward CC).
I understand all of the following (you must initial after you have read each statement):
_____ THIS IS A LOAN THAT MUST BE REPAID.
_____ I must be enrolled at least half-time status (6 credits) and be meeting Leeward CC’s Financial Aid Satisfactory
Academic Progress (SAP) policy.
_____ I must inform Leeward CC’s Financial Aid Office once I drop below half-time status, graduate, completely withdraw,
transfer, or stop attending classes; repayment will begin six months after.
_____ A loan fee of approximately 1% of the loan will be automatically deducted from each loan disbursement.
_____ There will be two loan disbursements, one at the beginning of the loan period (unless I am a first year, first-time
borrower in which my loan funds won’t be disbursed until 30 days after the start of the semester) and the second at
the mid-point through the loan period. I understand that disbursement dates may be different if I am enrolled in a
modular program/course(s); in general, loan funds will not be disbursed until I am attending at least 6 credits.
_____ First-Time Borrowers on or after July 1, 2013: I may not receive SUBSIDIZED loans for more than 150% of my program
length. Additionally, if I continuously enroll and do not complete my program, I can lose the interest subsidy on my
prior SUBSIDIZED loans for the remaining life of the loan.
Student Signature: ________________________________________________ Date: _________________
Electronic signature or digital signature will NOT be accepted.
University of Hawai'i institutions do not discriminate on the bases of age, race, sex, color, national origin, or disability in its programs and
activities. For more information or inquiries regarding these policies, please contact the individual campus Title IX Coordinator. UH Title IX
Coordinators' names and contact information are available at: https://www.hawaii.edu/titleix/help/coordinator/
FINANCIAL AID OFFICE
Financial Aid Office * 96-045 Ala Ike Street * Pearl City, 96782
Phone: 808 455-0606 * Fax: 808 453-6371 * Website: www.leeward.hawaii.edu/finaid * MyUH Services: https://myuh.hawaii.edu
Overview: Federal Direct Student Loans
Direct loans, funded by the U.S. Department of Education, are low-interest student loans to help pay for the cost of a student’s
education. There are two types of student loans and your eligibility for both is determined by using your Free Application for
Federal Student Aid (FAFSA) information:
o Direct SUBSIDIZED loans are offered to students who demonstrates financial need. The U.S. Department of Education
pays the interest on the loan while the student is in school enrolled at least half-time status, during grace period, and
during any approved deferment periods.
150% Rule on Direct Subsidized Loans: Effective for first-time borrowers on or after July 1, 2013, there is a
time limit on the maximum period of time a borrower can receive Direct Subsidized loans. In general, a
borrower may not receive Direct Subsidized loans for more than 150% of the published length of their
program. If the borrower continuously enrolls and does not complete their program (or transfers to a
program of equal or less length), the borrower can lose the interest subsidy on their Subsidized loan(s) for the
remaining life of the loan(s). You may visit:
https://studentloans.gov/myDirectLoan/directSubsidizedLoanTimeLimitation.action
for more information on
the time limitation on Direct Subsidized loan eligibility.
o Direct UNSUBSIDIZED loans are typically offered to students who do not demonstrate financial need. The student is
responsible for paying the interest on a Direct Unsubsidized Loan during all periods. If the student chooses not to pay
the interest while they are in school and during grace periods and deferment or forbearance periods, the interest will
accrue (accumulate) and be capitalized (added to the principal amount of the loan).
Direct loans are also subject to loan fees that will automatically be deducted from each loan disbursement. In addition, loans
are disbursed in two equal disbursements during the period of the loan. No payments are required while the student is
enrolled at least half-time status; however, repayment will begin six months after the student graduates, leaves school, or
drops below half-time enrollment.
The maximum amount a student may borrow each academic year depends on the following:
o Grade level in college as determined by credits completed
Freshmen: 0-29.99 credits
Sophomore: 30+ credits
o Length of academic program
o Cost of attendance
o Dependency status (dependent or independent)
Annual and Aggregate Loan Limits Chart
Dependency Status & Grade Level
Base
(Subsidized & Unsubsidized)
Additional
Unsubsidized
Maximum Combined
Dependent Freshmen
$3,500
$2,000
$5,500
Dependent Sophomore
$4,500
$2,000
$6,500
Independent Freshmen
$3,500
$6,000
$9,500
Independent Sophomore
$4,500
$6,000
$10,500
Aggregate (LIFETIME) Limits for
Subsidized and Unsubsidized Loans
Subsidized
TOTAL (Subsidized and Unsubsidized)
Dependent Undergraduates
$23,000
$31,000
Independent Undergraduates and
Dependent Students whose parents are
ineligible for the PLUS Loan
$23,000
$57,500
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2020-2021 Federal Direct Student Loan Request Form (Leeward Community College)

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Completed 25 July 2020

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