Loan Information and Forms
Student loans are available to help offset educational expenses for the specific academic period. Borrowing through student loans should be your last alternative. You should exhaust all other resources of financial assistance, including scholarships, state grants, and work-study employment before applying for a student loan. Applying for a student loan too early may limit or exclude you from receiving grants/scholarships.
Eligibility requirements for federal student aid:
Direct Stafford Loans
A Direct Stafford Loan is a federal loan program available to undergraduate students depending on eligibility.
To apply for a Direct Stafford Loan:
Allow approximately one hour to accept your loans, complete loan counseling and complete the eMPN.
(Approximately 20 to 30 minutes to complete Direct Stafford Loan Entrance Counseling AND approximately 30 minutes to complete the Direct Stafford Loan electronic MPN.) You will be asked to give information which will include:
Private Educational (alternative) Loans
Students who need additional funds after considering the feasibility of The Direct Stafford Loan or students who are ineligible for federal aid, may need to apply for a private loan. It is NWACC's recommendation that our students apply for a Federal Direct Stafford Loan prior to an Alternative Loan as it is in the student's best interest.
The Higher Education Opportunity Act of 2008 (Pub. L. 110-35) (HEOA) added section 128(e)(3) to the TILA to require that before a private educational lender may consummate a private education loan for a student in attendance at an institution of higher education, the private education lender must obtain the completed and signed Self-Certification Form from the applicant. The Federal Reserve Board's Final Regulations published on August 14, 2009 incorporate this new requirement at 12 CFR 226.48(e). Many lenders of private loans will provide the Self-Certification Form to the student borrower. The form is also available here in pdf format:
Private Education Loan Self-Certification in PDF Format: http://ifap.ed.gov/dpcletters/attachments/GEN1001A-AppSelfCert.pdf
For more information and to apply for alternative loans, go to www.elmselect.com.
To view the information:
For questions/comments on this content, please contact Financial Aid.