Apply for Federal Loans
Federal Direct Loan Program
Accepting your Federal Loans
Before accepting your student loans, we encourage you to learn more about the program by visiting StudentAid.ed.gov.
The William D. Ford Direct Loan Program is the largest federal student loan program. Under this program, the U.S. Department of Education is your lender. There are four types of Direct Loans available:
- Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at PCC.
- Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but in this case, the student does not have to demonstrate financial need to be eligible for the loan.
- Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Please visit www.studentloans.gov to apply for a Federal Parent PLUS Loan. Please be sure to select the correct loan period option for your student If the parent who provided information on the FAFSA is not the parent who has applied for the PLUS loan, then we will need a copy of your birth certificate to verify that the PLUS Loan applicant is your biological parent.
- Direct Consolidation Loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.
Steps to Accept your Federal Loans
You must reapply for financial aid each academic year by completing the FAFSA. When you apply for financial aid each year, you will be offered loans as part of your financial aid award if you are eligible. A loan is money you borrow and must pay back with interest.
After you have completed your FAFSA and submitted all required follow-up documentation, you will be notified at your myPittcc email account that your award is ready to be reviewed. In order to receive the loan portion of your award you must accept them by completing the following steps:
Step 1: Complete Online Entrance Counseling – New Borrowers
Click on the link above or go to www.studentloans.gov to log in to the site using your FAFSA information to complete the Online Entrance Counseling:
Step 2: Complete Your Electronic Master Promissory Note (eMPN) – New Borrowers
There are two methods to complete your Master Promissory Note. Click on the link above or go to www.studentloans.gov and submit your MPN electronically, signing with your PIN number, or you may print a paper MPN and mail it to the address listed below for the federal government to process. The paper MPN may increase the length of time it takes to process your loans.
Department of Education
100 Capitol Commerce Blvd
Montgomery, AL 36117
Step 3: Complete Loan Workshop – New Borrowers
Workshops are offered online and on-campus. The loan workshop is designed to help borrowers make more informed decisions and to increase their financial literacy. To complete online workshops go to www.saltmoney.org, click Resources, Choose Lessons, Click “Own Your Student Loans.” Complete the Lesson. Print the confirmation page.
To see the dates and times of the on-campus workshops click here.
Step 4: Direct Loan Acceptance Form – New and Returning Borrowers
You accept your loan awards by completing the Loan Acceptance Form and submitting it to the Financial Aid office. You will not receive loan funds if you do not complete this important step. DO NOT submit this form BEFORE you receive your award letter.
You will need to provide a comprehensive listing of your current student loan debt. Go to https://nslds.ed.gov/, print your loan history, and attach a copy of it to your Loan Acceptance Form; even if your identifiers cannot be found. If the amount listed above is greater than $0, click on “MyStudentDataDownload” at https://nslds.ed.gov/ to find your lender name, phone number, and website address
To decline your loans
If you would like to decline your Federal Stafford Loans, you simply do not have to accept your loans on WebAdvisor nor submit the Loan Acceptance Form.
Who is my Lender/Servicer?
To find out who services your student loans (your lender), and how to contact the servicer, call the Department of Education customer service line at: 1-800-4-FED-AID (1-800-433-3243).
To find out your Federal Stafford Loan balance and/or total debt go to https://nslds.ed.gov/.
Subsidized Loan Length Restrictions
Beginning July 1, 2013, the length of time students will have access to subsidized loans is limited for new borrowers. Students cannot borrow more than 150% of a student’s program length. For example, students who enroll in a two-year degree program can only borrow loans for three years total. Once that limit has been reached, a student may borrow only unsubsidized loans, and will begin to accrue interest on outstanding subsidized loans. For more information, please visit: Direct Subsidized Loan Limit.
Graduating or Leaving PCC?
All students who receive a student loan at PCC must complete Exit Counseling when they drop below half time, graduate or leave the college due to withdrawal. Students who leave the College without completing exit counseling are at a higher risk of defaulting on their loans. Be in the know about your loans and complete Exit Counseling.
Click on the link below to complete the requirement online.
Free Financial Resources for YOU!
PCC has teamed up with EdFinancial, a new, free membership program that helps you manage your student loans and money. EdFinancial is easy, confidential, and just for you; all for free!
With EdFinancial, you can:
- Keep track of your student loans
- Get loan advice from an expert counselor
- Look for a job or internship
- See how to save money wisely
Contact EdFinancial to get your future started!
Loan Repayment and What Can I Afford?
If you have received a student loan while in school, you will go into repayment on that loan at some point. Click on the link below to learn more about loan repayment.
How do I decide what the right loan amount might be? Try the free CFNC Smart Calculator at www.tinyurl.com/CFNCcalc
If you have questions about your current or previous loans (your responsibilities, regulations, payment options, complaints, etc.) you may contact us, your lender, or in case of dispute, contact the Department of Education’s Loan Ombudsman as a last resort at:
U.S. Department of Education
FSA Ombudsman Group
830 First Street, N.S., Mail Stop 5144
Washington, D.C. 20202-5144
Applying for a Private Student Loan
Private student loans are non-federal loans, made by a lender such as a bank, credit union, state agency, or a school. To apply for a private loan to attend PCC, please follow these steps:
- Review Types of Aid at U.S. Department of Education Federal Aid. This explains the difference between Federal and Private Loans.
- Complete Financial Aid File. Complete your financial aid file, which includes the FAFSA and all required follow-up paperwork. Our school code is 004062.
- Apply. Choose a lender or bank to apply for a Private Education Loan. PCC does not offer a preferred lender list for private loans. Students may check with their bank or research private loans on the Web. We strongly encourage students to borrow Federal loans first as they offer better benefit and interest rates. Interest rates on private loans are usually significantly higher than on Federal loans.
- School Certification. Our office will certify the loan once we receive a certification request from your lending institution and your financial aid file is complete. Private loan limits are set by Federal regulations and cannot exceed the cost of attendance minus any financial aid received. We are not responsible for the timeliness of private loans and students should address all customer service issues with their chosen lender. Your school charges will not be deducted from your private education loan if the loan certification request is not received by the tuition due date.
- Eligibility Requirements. For most private lenders, there is no minimum credit hour restriction nor do they require the student to be making satisfactory academic progress as determined by the school. Students should verify restrictions with their lender. Be aware that most private lenders require a good credit rating and may also require a co-signer.
- Private Education Loan Applicant Self-Certification. Pursuant to Section 155 of the Higher Education Act of 1965, as amended, (HEA) and to satisfy the requirements of Section 128(e)(3) of the Truth in Lending Act, a lender must obtain a self-certification signed by the applicant before disbursing a private education loan. The school is required on request to provide this form or the required information only for students applying for the loan. The applicant and the student may be the same person.
Pitt Community College Cost of Attendance (COA)
The COA is an estimate of what it will cost a student to attend PCC for an academic year (Fall and Spring). The COA includes, estimates for tuition and fees, housing, books, supplies, transportation and miscellaneous expenses. A student’s COA may vary depending on enrollment status, dependency status, residency and summer enrollment.
Financial Aid, including loans, are awarded using information from the FAFSA and the COA. The Financial Aid Office may not award financial aid and loans in excess of a student’s COA.
The COA includes costs that are not directly billed to the student but the student may incur during their enrollment with PCC for a given academic year.
COA: Full Time In State
|BUDGET FULL YEAR||$9,938||$14,738|
|BUDGET ONE SEMESTER||$4,969||$7,369|
COA: Part Time In State
|BUDGET FULL YEAR||$4,619||$7,619|
|BUDGET ONE SEMESTER||$2,310||$3,810|
COA: Full Time Out of State
|BUDGET FULL YEAR||$16,082||$20,882|
|BUDGET ONE SEMESTER||$8,041||$10,441|
COA: Part Time Out of State
|BUDGET FULL YEAR||$7,691||$10,691|
|BUDGET ONE SEMESTER||$3,846||$5,346|