US Dept. of Education's Federal Student Aid FAQ

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Direct Student Loans are another source of financial aid at DCCC, but these funds have to be repaid by the borrower/student. Direct Loans are low-interest loans for students to help pay for the cost of a student's education after high school. 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.  Parents may apply for a Direct PLUS Loan.

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

Eligibility requirement for a student loan:

  • Complete the FAFSA (and verification if applicable) and have a DCCC Award Notification which includes offered student loans.
  • 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 financial aid due to SAP means NO loans or grants
  • Not exceed borrowing limits set by the US Dept of Ed.
  • 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

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Student Loan Acceptance Steps for Each Academic Year:

STEP 1Complete 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 will need your 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 2Complete 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 3Complete the Fall 2016/Spring 2017/Summer 2017 DCCC Loan Acceptance Form (2016-2017AY)

  • You must have a DCCC student e-mail AND a current year award letter before you can complete the loan acceptance form.
  • Steps 1 & 2 must be completed BEFORE acceptance.
    • You’ll need your most current contact information, phone numbers and emails and contact information for your loan references as well 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.

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!

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Loan Processing Timelines:

Allow 4 weeks for processing loan requests

Summer only student loans (summer term 2016) 

 *(must be disbursed in 2 separate payments)

Processing of Summer-only loans begins after January 30, 2016. 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, 2016 (Summer tuition may be held for loan students) Summer: Part 1 Summer: Part 2
May 31, 2016 July 1 July 15
Summer-only loan acceptances will not be processed after May 30, 2016 to allow time for disbursement.

 

Fall & Spring 2016-17 Student Loans

*(disbursed in 2 payments; one fall and one spring)

Loan processing for 2016-17 Fall/Spring Loans begins after June 30, 2016. Attendance must be confirmed in 6 credits to disburse.
If MPN, Entrance Counseling AND Loan Acceptance Form are completed BEFORE: Anticipated Loan Disbursement Dates: 
July 30, 2016 (Fall tuition may be held for loan students) Fall: Spring: 
August 30, 2016 Sept. 23 Feb. 17
September 30, 2016 Oct. 14 Feb. 17
October 30, 2016 Nov. 15 Feb. 17
November 30, 2016 Dec. 16 Feb. 17
Fall/Spring loan acceptances end on Nov 29, 2016 to allow time for disbursement; you may accept a Spring & Summer loan at this time.

 

Spring & Summer 2017 Student Loans

*(disbursed in 2 payments; one spring and one summer)

Loan processing for 2017 Spring/Summer Loans begins after August 30, 2016. 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, 2016  (Spring tuition may be held for loan students) Spring: Summer: 
January 30, 2017 Feb. 17 July 3
February 28, 2017 March 17 July 3
March 30, 2017 April 21 July 3
April 30, 2017 May 12 July 3
Spring/Summer loan acceptances end after April 29, 2017 to allow time for disbursement, but may be considered for Summer-only loan.

Summer-Only (2017) Student Loans
*(must be disbursed in 2 separate payments) 

Processing of Summer-only loans begins after January 30, 2017. 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, 2017 (Summer tuition may be held for loan students) Summer: Part 1 Summer: Part 2
May 30, 2017  July 3 July 21
Summer Only loan acceptances will not be processed after May 29, 2017 to allow time for disbursement.

Financial Aid Office

B.E. Mendenhall Jr. Building

Hours of Operation:
Monday & Tuesday: 8 a.m. - 6 p.m.
Wednesday, Thursday, Friday: 8 a.m. - 5 p.m.

Call Us: 336-249-8186, ext. 6731
Fax Number:
336-224-0240
FinAid@DavidsonCCC.edu

Contact Now

Financial Aid Priority Date

Fall 2016 (2nd Session):

FAFSA Application Priority Date: September 1, 2016
FAFSA File Completion Priority Date: September 15, 2016

Spring 2017:

FAFSA Application Priority Date: November 1, 2016
FAFSA File Completion Priority Date: November 15, 2016

Spring 2017 (2nd Session):

FAFSA Application Priority Date: February 1, 2017
FAFSA File Completion Priority Date: February 15, 2017

Summer 2017:

FAFSA Application Priority Date: April 1, 2017
FAFSA File Completion Priority Date: April 15, 2017