Federal Direct Student Loan Program
Please read through this information carefully prior to completing the Student Loan
Worksheet. If you have any questions, please contact the financial aid office.
Direct Loans are low-interest loans for students to help pay for the cost of a student’s education. The lender
is the U.S. Department of Education (ED) rather than a bank or other financial institution. This packet
contains important instructions and information for processing your federal student loan. To apply for a
Federal Direct Subsidized and /or Unsubsidized loan, you must complete and submit the 2020-2021 FAFSA
application and the Student Loan Worksheet. To qualify for the loan you must be in an eligible degree or
certificate program, be enrolled in 6 or more eligible credits and maintain satisfactory academic progress in
each quarter you wish to receive a loan. Students must meet eligibility requirements to receive a loan. The
worksheet is your written permission for the financial aid office to process the loan request and send
necessary loan information to the ED. This loan request is only valid for the 2020 – 2021 school year.
*Please Note* Your 2020-2021 FAFSA needs to be
completed, received and processed by both the ED AND
our financial aid office.
1. Complete the online Entrance Counseling and
Master Promissory Note (MPN) if you are a first
time direct loan borrower. If you recently have had
a Federal Direct Student loan, you only need to
submit the loan worksheet.
To complete the Entrance Counseling and the MPN,
please go to: www.studentaid.gov . The entrance
counseling goes over your rights and responsibilities of
being a student loan borrower. Sign-in using your FSA ID
and password. To complete entrance counseling click on
“I’m in School” and then “Complete Entrance Counseling”,
select “Start”.
Your MPN is your promise to pay back the loan. To
complete the MPN, click on “I’m in School” and then
“Complete Loan Agreement”. Next to “MPN for
Subsidized/Unsubsidized Loans” select “Start”.
If you do not have Internet access, you may use the
computers next to the financial aid office or the WVC library
to complete this process. We will receive electronic
confirmation from the ED when your entrance counseling
and MPN have been completed.
2. Complete and submit the loan worksheet.
Fill out the 2020-2021 Student Loan worksheet
completely and submit it to the WVC Financial Aid
Office. Incomplete forms will not be processed.
You can submit the loan worksheet by mail, fax or email.
Wenatchee Valley College
Financial Aid Office
1300 Fifth Street
Wenatchee, WA 98801
Fax: 509-682-6811
Email: financialaid@wvc.edu
3. Your loan request is processed after steps 1
and 2 are completed. Processing time can take
up to 3 5 weeks depending on the volume of
applications our office receives.
Once your loan has been processed, we will send your
information to the ED for certification. You will be assigned
a loan servicer on behalf of the ED. The loan servicer
manages your loans and is your point of contact regarding
repayment of your loans.
You will receive a financial aid notification from the financial
aid office. It will be sent to your WVC student email and
you will be able to view this information on the Financial
Aid Management (FAM) portal. The letter will detail your
loan amount(s) for which you are eligible for. You will also
receive information from your loan servicer.
If you are a first-year student AND a first-time federal
student loan borrower, your first quarter loan disbursement
amount must be held for 30 days from the first day of the
quarter, so please plan accordingly. For all other quarters
and for non first-year first-time borrowers the 30 day wait
period does not apply.
Your loan will be issued in multiple disbursements. If you
are funded for one quarter only, then ED requires us to
separate your loan into two equal payments; one at the
beginning of the quarter (unless you have a 30 day hold)
and one half-way through. If you check two or more
quarters, the loan will be divided among all checked
quarters for which you are eligible. We can divide your
loan between prior quarters in the same academic year IF
you were eligible during the prior quarters. If you are
finishing a degree prior to the end of the school year, your
loan will be prorated for the appropriate quarters.
The loan funds will be sent to the college first and be
applied to any outstanding tuition and any related fee
charges. Remaining funds will not be disbursed before the
quarter begins. Funds are disbursed via BankMobile.
Remember, this is a federal student loan and it MUST BE
REPAID. Do not borrow more than you need. Student
loans cannot exceed a student’s Cost of Attendance.
Year in college, length of program, credit level,
dependency status, EFC & all other aid is taken into
consideration when determining your eligibility; therefore
you may not be eligible for the annual loan limits or the
amount that you request.
Year in college is determined by the number of
COMPLETED credits applied toward the degree you are
CURRENTLY seeking at WVC. For instance, a student in
the first quarter of the nursing program would be a first-
year student, as any prerequisite credits will not be
considered as part of the currently enrolled degree for loan
There is an exception for students who are not in a
degree or certificate program and are only taking
prerequisites. These students would only be eligible for
loans and only for a 12 consecutive month period, during
which they must be taking at least 6 credits of the required
prerequisites each quarter in order to receive federal loans.
All federal Direct loans are subject to fees. The fees are
paid to the ED to offset administrative costs and to
guarantee loans. This loan origination fee is deducted
before you receive any loan money, your net loan amount
will be the amount you were funded minus the origination
fee. The fee is 1.062%. Interest rate for loans is 2.75%
and is set by the federal government each year.
When you repay your loan, you will be repaying the gross
amount of the loan, not the net disbursed amount. The
loan fees are part of your loan repayment.
You have the right to cancel your student loan at any time.
If you want to cancel a future disbursement, you should
notify our office two weeks before the expected
disbursement date. If your loan has disbursed, you are
committed to repaying the loan(s). You can send the funds
directly back to your loan servicer as a payment. You can
make repayments to your loan at anytime without penalty.
You can also increase or decrease a future disbursement.
Again, you will need to notify our office at least two weeks
before the scheduled disbursement date. To make any
adjustments or cancellations to your loans you will need to
complete and submit a Loan Adjustment Request form.
All loan recipients are required to complete exit counsleing
when they graduate, leave school, or drop below half-time
status. Exit counseling should be done one quarter before
your expected graduation date or within two weeks of when
you stop attending classes or withdraw from the college.
Loan exit counseling can be done at www.studentaid.gov .
For your Direct loan servicer information and account
balance contact:
US Department of Education
Phone: 1-800-433-3243
Website: www.studentaid.gov
al Direct Student Loan Program
This is a loan and must be repaid
Please read carefully and complete every item. An incomplete form will delay processing of your loan.
Student ID Number (*REQUIRED*):
Last Name: First Name:
Phone Number:
( _______ ) - _________ - _____________
Date of Birth:
_________ / _________ / _________
Have you ever received a federal student loan?
Yes, I have received a federal student loan at: ____________________________ When: _____________
No, This is my first federal student loan. Note: If you are also a 1
year student you will have a 30 day hold
List your estimated graduation date at Wenatchee Valley College:
Check the quarter(s) you wish to receive a loan AND then write the number of credits you plan on taking:
Fall 2020
# of credits _______
Winter 2021
# of credits _______
Spring 2021
# of credits _______
Summer 2021
# of credits ________
Students must be enrolled in a minimum of 6 eligible credits each quarter to receive loans.
Do you want to be considered for UNSUBSIDIZED loan which accumulates interest while you are in
school? Yes No
If you check “No” or leave it blank, you will be considered for the maximum Subsidized* loan limit eligibility only.
And if you do not qualify for subsidized funds we will automatically cancel your loan request.
Enter amount you wish to borrow: $________________ OR check box: Maximum Allowed
*You must have financial need to be eligible for the Subsidized loan. We always award the eligible amount of
subsidized first and then the unsubsidized-if you choose to receive it- up to your “Cost of Attendance”. The loan coordinator
determines your eligibility, therefore the awarded amount may be less than what you request or what is listed in chart below.
**If electronically signed, I understand that a digital or electronic typed signature has the same legal effect and can be enforced in the same way
as a handwritten signature. **
Student Signature: _________________________________________
Year in College
Maximum Subsidized*
Loan Limit
Total Maximum
Sub/Unsub for the year
Total Maximum
Sub/Unsub for the year
First Year
Second Year
Prerequisities Only
Bachelors Prog. Only
Office Use Only:
MPN Completed - Linked
Entrance Exam Completed
30 Day
Budget #: ____________
Grade Level: ____________
Trans.#: ____________
Received loan at another school, must count here: Rcvd $____________ of Sub $____________ of Unsub (see attached)
Sub: $ __________________
Unsub: $ ___________________
Total: $ __________________
Met 150% Sub limit: ___________________________________________
Meeting Aggregate Limit: Sub: $ Overall: $ available (see attached)
Clear Form
Print to PDF
This page is for information purposes only. It is not required to be submitted with your form.
Wenatchee Valley College
Non-discrimination Statement
Wenatchee Valley College is committed to a policy of equal opportunity in employment and student enrollment. All programs are free
from discrimination and harassment against any person because of race, creed, color, national or ethnic origin, sex, sexual orientation,
gender identity or expression, the presence of any sensory, mental, or physical disability, or the use of a service animal by a person
with a disability, age, parental status or families with children, marital status, religion, genetic information, honorably discharged
veteran or military status or any other prohibited basis per RCW 49.60.030, 040 and other federal and laws and regulations, or
participation in the complaint process.
The following persons have been designated to handle inquiries regarding the non-discrimination policies and Title IX compliance for
both the Wenatchee and Omak campuses:
To report discrimination or harassment: Title IX Coordinator, Wenatchi Hall 2322M, (509) 682-6445, title9@wvc.edu.
To request disability accommodations: Student Access Coordinator, Wenatchi Hall 2133, (509) 682-6854, TTY/TTD: dial
711, sas@wvc.edu.
Wenatchee Valley College
Declaraciones de no discriminación
Wenatchee Valley College está comprometido a una política de igualdad de oportunidades en el empleo y la matriculación de
estudiantes. Todos los programas están libres de discriminación y acoso contra cualquier persona debido a raza, credo, color, origen
nacional o étnico, sexo, orientación sexual, identidad o expresión de género, la presencia de cualquier discapacidad sensorial, mental o
física, o el uso de un animal de servicio por una persona con discapacidad, edad, estatus o familias con niños, estado civil, religión,
información genética, veterano descargado honorablemente o estatus militar o cualquier otra base prohibida por el RCW 49.60.030,
040 y otras leyes y reglamentos federales, o participación en el proceso de queja.
Las siguientes personas han sido designadas para atender consultas sobre las políticas de no discriminación y el cumplimiento del
Título IX para los campus de Wenatchee y Omak:
Para denunciar discriminación o acoso: Coordinador del Título IX, Wenatchi Hall 2322M, (509) 682-6445, title9@wvc.edu.
Para solicitar adaptaciones para discapacitados: Coordinador de acceso estudiantil, Wenatchi Hall 2133, (509) 682-6854,
TTY/TTD: marque 711, sas@wvc.edu