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Student Loans

Federal Student Loans

Direct Student Loans are another source of financial aid at DCCC. The lender is the U.S. Department of Education rather than a bank or other financial institution. Annual borrowing limits vary based on the student’s year in school. These loans have to be repaid by the borrower/student.

Subsidized: available to eligible undergraduate students with demonstrated financial need.  The amount you can borrow is based on grade level and financial need.

The U.S. Department of Education pays the interest on a Direct Subsidized Loan

  • while you’re in school at least half-time,
  • for the first six months after you leave school (referred to as a grace period*), and
  • during a period of deferment (a postponement of loan payments).

Unsubsidized: available to eligible students regardless of financial need.  No payment on principal is required until the student drops below half-time enrollment and has completed the 6 month grace period; however interest begins accruing from the date of disbursement. By making interest payments while in school, a student can avoid capitalization of the interest. When interest is capitalized, it is added to the principal amount of the loan upon which further interest charges are based.

PLUS: available to eligible parents of dependent students regardless of financial need. Parents may borrow up to the cost of attendance less any other aid received by the student annually. PLUS loans feature low interest rates and long-term repayment options. A credit check will be performed to determine eligibility.

Loans, like grants and other financial aid sources, require completion of the Free Application for Federal Student Aid (FAFSA).  If verification is required, that process must be completed BEFORE a loan request can be processed

Private Student Loans

Student loans through private lenders is another option for financing. Please follow the link below to apply for the private student loans. These loans have to be repaid by the borrower/student.

https://choice.fastproducts.org/FastChoice/home/291900

Eligibility requirement for a student loan:

  • Complete the FAFSA (and verification if applicable) and have been notified of your DCCC Award status for the year.
  • Current confirmed enrollment in at least 6 credit hours (1/2 time) in an eligible program of study
  • Meet Satisfactory Academic Progress (SAP) Standards
    • Earn/maintain a cumulative GPA of 2.000 or higher
    • Earn/maintain a cumulative completion rate of 67% of all attempted course hours
    • Complete program within 150% of the standard length of time
    • Suspended or Terminated financial aid due to SAP means NO loans or grants
  • Not exceed borrowing limits set by the US Department of Education.
  • Complete required loan steps (listed below) to accept a student loan. Missing requirements or incomplete forms will prevent processing loan acceptances and delay funds

Loan-Maximums-Table

Interest Rates for Direct Loans First Disbursed on or After July 1, 2019, and Before July 1, 2020

Loan TypeBorrower TypeFixed Interest Rate
Direct Subsidized Loans and Direct Unsubsidized LoansUndergraduate4.53%
Direct Plus LoansParent7.08%

Student Loan Acceptance Steps for Each Academic Year:

STEP 1: Complete Entrance Counseling at www.studentloans.gov

  • Sign in with your secure login (same as FAFSA).
  • Select “Complete Counseling” in the center of the page
  • Select “Entrance Counseling”
    • You may refer to the table above plus any other award amounts and college costs to help with budgeting during the loan entrance counseling.
  • Select DAVIDSON COUNTY COMMUNITY COLLEGE to notify.
  • You are an UNDERGRADUATE student.

* Take your time and read carefully to know how much you’ll OWE.  You must personally complete loan counseling because you will be responsible for repayment. You can change your mind at any time and NOT borrow.

STEP 2: Complete a Master Promissory Note at www.studentloans.gov

  • Sign in with your secure login (same as FAFSA).
  • Select “Subsidized/Unsubsidized” as the type of loan.
    • You’ll need your Driver’s License and all of your current contact information, phone numbers and emails and contact information for two loan references as well.
  • Select DAVIDSON COUNTY COMMUNITY COLLEGE as school.
  • You are an UNDERGRADUATE student.

* Take your time reading the conditions of the loan. You must personally complete the Master Promissory Note because you will be responsible for repayment and consequences. You can change your mind and NOT borrow.

STEP 3:

Complete the Fall 2020/Spring 2021/Summer 2021 DCCC Loan Acceptance Form (2020-2021AY)

  • You must use your DCCC student e-mail AND a completed financial aid decision before you can complete the loan acceptance form.
  • Steps 1 & 2 must be completed BEFORE acceptance.
    • You’ll need current contact information, phone numbers and emails for you and your loan references to complete the form.

* Take your time completing the loan acceptance form. Incomplete forms will prevent timely processing. You can change your mind and NOT borrow.

Loan Changes or Cancellations

All changes, corrections or cancellations of accepted student loans must be communicated directly to FA_Loans@davidsonccc.edu for review and processing. In the message include your full name and the specific changes requested. All messages should be sent using your DCCC-assigned email account for message security and to confirm student identity.
Exit Loan Counseling:

Required by all DCCC students when:

  • they complete each academic year (to update information).
  • they Graduate from DCCC or transfer to another college.
  • they Withdraw from all classes OR drop below half-time hours.

*You must personally complete the Exit Loan Counseling and list DCCC because you will be responsible for repayment arrangements.

EX$EL Repayment Success Program:

All student loan borrowers at DCCC will be enrolled in the EX$EL program for Repayment Success.  EX$EL Repayment Success is run by the College Foundation of NC with Students are contacted regularly to keep on top of their student loan status.  They are NOT a collection agency.  They are there to HELP YOU be successful; financially, educationally and professionally. Be sure to sign up for their Financial Education modules!

Loan Processing Timelines:

Allow 4 weeks for processing loan requests

Spring & Summer 2020 Student Loans


*(disbursed in 2 payments; one spring and one summer)
2020 Spring/Summer Loans begins after August 30, 2019. Attendance must be confirmed in 6 credits to disburse.
If MPN, Entrance Counseling AND Loan Acceptance Form are completed BEFORE:Anticipated Loan Disbursement Dates: 
December 15, 2019  (Spring tuition may be held for loan students)Spring:Summer: 
January 30, 2020Feb. 14July 14
February 28, 2020March 20July 14
March 30, 2020April 17July 14
April 30, 2020May 15July 14
Spring/Summer loan acceptances end after April 30, 2020 to allow time for disbursement, but may be considered for Summer-only loan.


Summer-Only (2020) Student Loans


*(must be disbursed in 2 separate payments)
Processing of Summer-only loans begins after January 30, 2020. Summer-only amounts may NOT exceed a single term loan amount.
If MPN, Entrance Counseling AND Loan Acceptance Form are completed BEFORE:Anticipated Loan Disbursement Dates: 
May 15, 2020 (Summer tuition may be held for loan students)Summer: Part 1Summer: Part 2
May 30, 2020July 14July 14
Summer Only loan acceptances will not be processed after May 30, 2020 to allow time for disbursement.


Fall & Spring 2020-21 Student Loans


*(disbursed in 2 payments; one fall and one spring)
Loan processing for 2020-21 Fall/Spring Loans begins after June 15, 2020.
If MPN, Entrance Counseling AND Loan Acceptance Form are completed BEFORE:Loans are divided into two equal disbursements and presume required enrollment
Anticipated Loan Disbursement Dates: 
August 1, 2020 (Fall tuition may be held for loan only students)Fall: Part 1Spring: {art 1
September 1, 2020Sept. 18Feb. 19
October 1, 2020Oct. 16Feb. 19
November 1, 2020Nov. 13Feb. 19
December, 1 2020Dec. 11Feb. 19
Fall/Spring loan acceptances end on December 1 to allow time for disbursement, but may be considered for Spring/Summer loans.


Spring & Summer 2021 Student Loans


*(disbursed in 2 payments; one spring and one summer)
Loan processing for 2021 Spring/Summer Loans begins after August 1, 2020
If MPN, Entrance Counseling AND Loan Acceptance Form are completed BEFORELoans are divided into two equal disbursements and presume required enrollment.Anticipated Loan Release Dates:  
December 15, 2020 (Spring tuition may be held for loan students)Spring: Part 1Summer: Part 1
February 1, 2021Feb. 19July 16
March 1, 2021March 12July 16
April 1, 2021April 23July 16
May 1, 2021May 14July 16
Spring/Summer loan acceptances will not be processed after May. 1 to allow time for disbursement, but may be considered for Summer-only loan.


Summer-Only (2021) Student Loans

*(must be disbursed in 2 separate payments
Loan processing for Summer-only loans begins after February 1, 2021. Summer-only loan amounts may NOT exceed a standard single term loan amount.
If MPN, Entrance Counseling AND Loan Acceptance Form are completed BEFORELoans are divided into two equal disbursements and presume required enrollment.Anticipated Loan Release Dates: 
May 15, 2021 (Summer tuition may be held for loan students)Summer: Part 1Summer: Part 2
June 10, 2021July 16July 16
Spring/Summer loan requests will not be processed after June 10 to allow time for disbursement.


Student Lending Code of Conduct

The Higher Education Opportunity Act of August 14, 2008 includes provisions that campuses participating in Federal Student Aid loan programs publish a code of conduct which describes prohibited practices related to loan programs. To avoid any conflict of interest with the responsibilities of a Davidson County Community College employee with respect to student loans, the DCCC Code of Conduct prohibits the following:

  • Revenue sharing arrangements with any lender.
  • The solicitation or acceptance of gifts from a lender, guarantor or servicer by anyone with responsibilities with respect to loans at the institution.
    • A gift is defined as: any gratuity, favor, discount, entertainment, hospitality, loan, or other item having monetary value of more than a de minimus amount.
    • A gift is NOT: A brochure used for default aversion or financial literacy; food, training, or informational material provided as part of training to improve service; entrance or exit counseling assistance that does not promote a lender; philanthropic contributions unrelated to loans; state education grants or scholarships.
  • Receipt of any fees, payments or other financial benefits (including a stock purchase option) by anyone with responsibilities with respect to loans from a lender as compensation for any type of consulting arrangement or contract to provide services to a lender, or on behalf of a lender relating to education loans.
  • The assignment of a first-time borrower’s loan to a particular lender or refusing to certify or otherwise delay certification of any loan regardless of the lender or guaranty agency the borrower selects.
  • The acceptance of any funds to be used for private education loans in exchange for the institution providing concessions to the private lender.
  • Requesting or accepting assistance with call center staffing or financial aid office staffing from any lender.
  • Any employee with responsibilities with respect to financial assistance at the institution who serves on an advisory board or commission of a lender or guarantor may not accept anything of value from the lender or guarantor except reimbursement for the reasonable expenses of serving on the board or commission.
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