Direct Loan Request Form

STEPS FOR APPLYING FOR A FEDERAL DIRECT LOAN
1. Complete the FAFSA (Free Application for Federal Student Aid) at www.fafsa.ed.gov.
Financial Aid Services
P.O. Drawer 7007
Greenville, NC 27835
Phone (252) 493-7339
Fax (252)-321-4201
2. If you are eligible to apply for the Federal Direct Loan, there are 5 things that you must do and complete before
your loan will be processed:
1. Obtain a Federal Direct loan packet from the financial aid office or download it from the www.pittcc.edu
website under academics, click on financial aid, and then click on Forms to the left of the website
2. Complete a master promissory note (MPN) at www.studentloans.gov
3. Complete the student counseling at: www.studentloans.gov
(On the left side it says entrance counseling)
4. Complete the Federal Direct loan budget packet
5. You must be enrolled for 6 credit hours to be eligible for loans.
6. If this is the first time you are borrowing from PCC, you MUST attend a loan workshop before we can
certify your loan. Go to our website at: http://www.pittcc.edu/academics/financial-aid/ to sign up for the
workshop.
THINGS TO BE AWARE OF!!!!
‣ Loans are disbursed in two installments if it is a 1 semester loan. For example; Fall only or Spring only
will have 2 disbursements; one after classes have been verified and one at the midpoint of the semester.
‣ If you are not a first time borrower your 1 st disbursement will be four weeks after the term has begun.
‣ If you are a first time borrower, your first check will not be released until 30 days after classes have
begun.
‣ You are responsible for paying your tuition and fees by the end of registration.
‣ When your check arrives in our office, it will be mailed to the current address in our system after your
attendance in your classes has been verified. It is important that you update your address in
the registrar’s office at least 72 hours prior to checks going out in the mail.
‣ Please read all Federal Directions and complete all paperwork before turning in your loan packet.
Incomplete packets will delay the certification process.
‣ If you have borrowed the maximum loan amount for the Fall and Spring semesters then there is no loan
money for the summer.
*If you have a late starting class your funds will be held until you have attended 6 credit hours.*
Revised 17-Feb-12

Financial Aid Services
PO Drawer 7007
Greenville, NC 27835
Phone: 252-493-7339
Fax: 252-321-4201
2012-2013 FEDERAL DIRECT LOAN REQUEST FORM
I authorize the PCC Financial Aid Office to transmit my Federal Direct Loan request electronically. I further understand that if I wish
to receive a Federal Direct Loan for future academic years, I must also complete the following each academic year:
• I must complete both the Free Application for Federal Student Aid and the Federal Direct Loan Budget form each year.
• My financial aid file must be complete prior to my loan being certified and I must be academically eligible.
• The PCC Financial Aid Office will not contact me to reapply.
• The Financial Aid Administrator determines my eligibility for Subsidized Federal Direct Loans and Unsubsidized Federal
Direct Loans. Unsubsidized loans will be processed only if eligible and I initial that I specifically want Unsubsidized loans.
• I understand that I must be enrolled at least ½ time (6 credit hours) to receive Federal Direct loans. If I register for
courses that start later I understand that my disbursement will be delayed.
• I understand that this loan will not be certified until I have completed the Master Promissory Note and Online Student loan
counseling at www.studentloans.gov
• I understand that the date the loan funds are disbursed from the lender is not the date that the loan check is mailed to me.
Loan checks are mailed during regular disbursement dates, normally four weeks after the semester begins.
• FIRST TIME BORROWERS must wait thirty days after the term begins before the funds will be disbursed.
• Loans are disbursed in two installments if it is a one semester loan (Fall only or Spring only etc…). Disbursements will
occur, once after class attendance has been verified and one at the midpoint of the semester.
TYPE OF LOAN YOU ARE REQUESTING If YOU DO NOT INITIAL WE WILL NOT DO THE LOAN.
Subsidized Federal Direct Loan: Your initials________
Unsubsidized Federal Direct Loan: Your initials_________
WHAT SEMESTER(S) ARE YOU APPLYING FOR
Check One: Fall/Spring Fall Only Spring Only Spring/Summer Summer Only
FEDERAL DIRECT LOAN DISBURSEMENT AND SATISFACTORY ACADEMIC PROGRESS STATEMENT
I understand that my loan proceeds will be applied Federal Directly to my student account at PCC. Depending on the timing of this
application, my tuition and fees may be deducted from this account and I may be able to charge my books and supplies to this account
in the bookstore on the dates advertised on campus cruiser. (Depending on the timing of this application, this option may not be
available to first time borrower/first time students as the federal government requires these students’ loans to be disbursed 30
days after classes begin). Any remaining funds due to me will be mailed to my permanent mailing address as indicated in the
Registrar’s Office. For students who have borrowed before this is normally four weeks after school begins and for new students this is
thirty days after classes begin. In addition, I understand that the Financial Aid Office can cancel future disbursements if I have
reported grades of NA (never attends), W. (unofficial withdrawal, never attends), and/or have not met SAP requirements.
REMINDER: YOU MUST BE ENROLLED AT LEAST 6 CREDIT HOURS TO RECEIVE FEDERAL DIRECT LOANS
Print Name: _______________________________________ Phone: _____________________________
Signature: __________________________________ SS#:_______________________ Date: _________________
CIRCLE YOUR ANSWER TO THE FOLLOWING QUESTIONS
• Have you EVER had a Loan: YES NO
• Is this your first Federal Direct Loan: YES NO
FOR FINANCIAL AID OFFICE USE ONLY
COA:___________ Grade level:________ Independent/Dependent Awarded by/Date:_________________
EFC:____________ Subject to 30-day Delay? YES____ NO____ Passing SAP: YES___ NO___
Other Aid:_______ NSDLS Clear: YES____ NO____ Academic Year:___________
Sub. Amt. Certified: __________________
Unsub Amt. Certified: ______________________
Revised 17-Feb-12

PCC FINANCIAL AID OFFICE
FEDERAL DIRECT LOAN BUDGET WORKSHEET
2012-2013
This worksheet will assist you in showing your financial need by giving you the difference between your total expenses and your total income over
the nine month school period. Enter zero if the item does not apply to you.
**Your loan request will not be processed if this worksheet is incomplete.
** Use this guide when you are figuring semester months to multiply by:
• If attending Fall/Spring or Spring/Summer –multiply by 9
• If attending Fall or Spring only – multiply by 5
• If attending Summer only – multiply by 3
A. Awarded Financial Aid Resources Fall Spring Summer
Financial Aid Resources from your award letter $_______________ $________________ $______________
(If you have not received your award letter enter zero)
TOTAL (Fall, Spring & Summer) $_______________ (A)
B. Personal Income and Other Resources
PLEASE NOTE: If you include expenses for a family or spouse, you must also include income for those family members.
Current Earnings Monthly Total X Semester Months = Semester Total
(See top of page)
Your take-home earnings:
$__________________ X ____________________ months = $_______________
Spouse’s take home earnings $__________________ X ____________________ months = $_______________
Parental/Other support:
$__________________ X ____________________ months = $_______________
AFDC/ADC:
$__________________ X ____________________ months = $_______________
Veteran’s benefits:
$__________________ X ____________________ months = $_______________
Unemployment:
$__________________ X ____________________ months = $_______________
Social Security:
$__________________ X ____________________ months = $_______________
Other (specify):
$__________________ X ____________________ months = $_______________
TOTAL: $_______________ (B)
If (B) is zero, please give an explanation: _____________________________________________________________
C. TOTAL INCOME: A+B=C $______________(C)
D. Federal Direct School Expenses Fall Spring Summer
Estimate tuition and Fees: $_______________ $_______________ $____________
Estimate Books/supplies/uniforms/equipment, etc $_______________ $_______________ $____________
TOTAL (Fall, Spring & Summer): $____________ (D)
E. Current Living/Personal Expenses Monthly Total X Semester Months = Semester Total
(See top of page)
Rent/Mortgage Payment: $______________ X ______________ months = $_________________
Food: $______________ X ______________ months = $_________________
Utilities (water, natural gas, electricity): $______________ X ______________ months = $_________________
Cable or Satellite (include internet): $______________ X ______________ months = $_________________
Home and/or cell phone: $______________ X ______________ months = $_________________
Transportation (car, bus, insurance, gas) $______________ X ______________ months = $_________________
Monthly debt (credit cards): $______________ X ______________ months = $_________________
Other personal expenses (please specify): $______________ X ______________ months = $_________________
TOTAL:
$_________________ (E)
F. TOTAL EXPENSES: D + E = F $_____________ (F)
G. CALCULATED TOTAL NEED: C – F = G $_____________ (G)
TOTAL LOAN AMOUNT YOU ARE REQUESTING: $_______________
PRINT NAME: _______________________________ SS# ____________________________ Date of Birth:_____________________________
Revised 17-Feb-12