Financial Aid

FEDERAL DIRECT LOANS

Direct Stafford 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.

To receive a Direct Loan a student MUST be enrolled for at least 6 credits per semester and meet other Federal eligibility requirements. For more information on Direct Loans go here .

STAFFORD LOANS

1. Complete Loan Entrance Counseling HERE. This is a federal requirement for first time borrowers, and explains a student's rights, responsibilities, and consequences for borrowing and paying back Federal Student Loans.
2. Electronically Sign MPN HERE (Master Promissory Note). This is also required for first time borrowers. By signing it, the student agrees to pay back the loan. The YCCC Financial Aid Office recommends first time borrowers print a copy for their records.
3. Apply for an iGrad account here , and provide a printed confirmation page to the YCCC Financial Aid Office.
4. Complete a Stafford Loan Application (on the right of this page). Applications can be mailed, faxed, hand delivered, or scanned and emailed.

• When signing in to complete the Entrance Counseling and MPN the Federal FSA ID Username and Password will be used (same as FAFSA)
• All first time borrowers are required to complete Entrance Counseling and have a signed MPN on file before the financial aid office can process a loan application on their behalf. Continuing loan borrowers are typically exempt from this requirement.
• Call 1-800-557-7394 for problems signing the MPN.
• Student loan borrowers who leave school, drop below half-time status, or graduate will be required to complete Loan Exit Counseling

PLUS LOANS

1. Electronically sign MPN (Master Promissory Note). You will need your Federal FSA ID Username and Password to sign in.
2. Complete PLUS Loan Application and return to the Financial Aid Office for processing

• The MPN is a legal document borrowers need to sign agreeing to pay back the loan. Call 1-800-557-7394 for problems signing the MPN.
• PLUS loan approval is subject to a credit check
• Repayment will begin 60 days after the final disbursement. Deferment options are available. Contact your Loan Servicer for more information.

FSA STUDENT LOAN OMBUDSMAN GROUP

Please use the following information to contact the FSA Student Loan Ombudsman Group.

Via on-line assistance: http//studentaid.gov/repay-loans/disputes/prepare

Via telephone (toll-free): 877-557-2575

Via fax: 606-396-4821

Via mail: FSA Ombudsman Group

              PO Box 1843

              Monticello, KY 42633

LOAN MANAGEMENT

We have partnered with ECMC Solutions to provide you with FREE help with your federal student loans!  Feel free to contact them at 1-844-668-8725 or ECMC to live chat with a loan counselor!