** Important Messages **
To apply for a Federal Stafford Loan at JCC, you must complete the steps below in additional to completing the FAFSA.
The deadline date to apply for a Stafford Loan for Winter 2010 is April 5, 2010. If you will be applying for a loan for Fall 2010, please do not complete Steps 1, 2 or 3 at this time. There are changes underway and further details will be available in late April 2010.
Federal Stafford Loan Application Process
The Subsidized Federal Stafford Loan...
is based on financial need which is determined by completing the Free Application for Federal Student Aid. A loan is "subsidized" when the government pays the interest for the student during the following periods:
- while enrolled in school at least half time
- during the six month grace period after the student stops attending school at least half time
- during periods of authorized deferment
The Unsubsidized Federal Stafford Loan...
is not based on financial need. This loan is not subsidized by the government. The student is responsible for all interest that accrues during in-school, grace and deferment periods. Students may choose to make interest payments while in school or may defer (and accumulate) the interest until repayment.
Further details regarding the Federal Family Education Loan Program may be obtained from The Guide to Federal Student Aid ("Funding Education Beyond High School: The Guide to Federal Student Aid").
Federal Stafford Loan Application Process
Complete the Free Application for Federal Student Aid (FAFSA)
- The JCC Federal ID Code is 002274.
- The results of the FAFSA will be used to determine your loan eligibility.
- Parents interested in applying for a PLUS loan must also complete the FAFSA.
- We encourage students to apply for the Federal Stafford Loan (subsidized and unsubsidized) prior to determining PLUS Loan eligibility.
- If you and your parents have not requested a federal PIN number, go to the Department of Education PIN Registration site.
- If you already have a PIN but have not completed the FAFSA, go to the FAFSA site.
Students must enroll in a MINIMUM of 6 credits each semester
Students must do this in order to receive loan funding and use loan money for educational expenses for attendance at Jackson Community College (JCC). Your loan application will be processed based on the expected enrollment status you have provided. If your enrollment status changes for any reason, your loan may be reduced or cancelled. If you drop below 6 credit hours, your future loan disbursement(s) will be cancelled. If you completely withdraw from all your classes, you will be subject to having to repay a portion of your loan funds immediately to JCC. The amount you have to repay will be determined in accordance to the US Department of Education’s return of Title IV Funds policy.
Students must be in Good Academic Standing
Students must be making satisfactory academic progress towards completing their JCC degree or certificate program. Good academic standing means maintaining a minimum cumulative grade point average of 2.0 on all attempted credit hours. Satisfactory academic progress toward completion of a course of study means completion of 67% of all attempted credits.
Complete the steps to apply for a Federal Stafford Loan
You must complete all three steps to apply for a Federal Stafford Loan at JCC. If you have previously borrowed loan funds at JCC, you may only need to complete Step 3 but please read the information under all three steps.
Step 1 – Entrance Loan Counseling Session
- Entrance Counseling must be completed if this is your 1st time applying for a loan at JCC. This step only needs to be completed once.
Step 2 – Federal Stafford Loan Master Promissory Note (MPN)
- A MPN is a binding legal document you must complete and sign to receive Federal Stafford Loan funds.
Step 3 – JCC Federal Stafford Loan Request Form
- The JCC Federal Stafford Loan Request form must be completed by all students wanting to apply for a Federal Stafford Loan. This form is needed in addition to completing the FAFSA.
