Federal Stafford Student Loan - Valencia College

How much can I borrow?
Loan maximums depend upon four things:
1. Valencia’s Estimated Cost of Attendance
2. The amount of grant, scholarship or other assistance your student will receive, including resources such as the
Florida Pre-paid program, VA benefits, or other third party billing arrangements
3. The total amount you have borrowed previously from parent loan programs
4. Whether your student enrolls as a part-time or a full-time student
You will be notified if you do not qualify for the full amount you have requested.
What are the qualifications?
1. You must be the parent of a dependent, undergraduate student.
2. Your student must be enrolled in at least 6 credit hours, required for the degree in which he/she is enrolled,
and be meeting Satisfactory Academic Progress requirements.
3. Your student must meet the basic eligibility requirements for all Title IV financial aid programs.
4. Your student must first apply for other Title IV financial aid programs by completing the Free Application for
Federal Student Aid.
5. You cannot have adverse credit on your credit report.
6. You must apply while the student is still enrolled in classes at Valencia.
When will I have to repay my loan?
Repayment of principal and interest will begin within 60 days after your loan has been fully disbursed.
It is very important that you understand how much you will be expected to pay each month. A repayment chart can
be found in this document. We also encourage you to consider whether you will need to rely on future Parent Loans,
as your monthly payments will increase with each loan you borrow.
Sample Repayment Chart - 10 Year Repayment @ 6%*
Amount borrowed
Monthly Repayment
Up to $4,000 $ 50
$10,000 $111
$15,000 $167
$20,000 $222
$25,000 $278
$30,000 $333
*Interest rates may be variable when your loan enters repayment. This chart represents typical examples of
repayments. Your actual repayment amount will be computed by your lender and may vary.
Your Master Promissory Note
Your Master Promissory Note (MPN) is a legal document on which you agree to repay your loan according to its terms.
You may have already completed your MPN online at your lender’s website. Or, you may choose one of the lenders
on our suggested Lender List and submit your completed MPN to Valencia. We will forward our certification of your
eligibility electronically and mail your MPN to your lender. Be sure you complete your Master Promissory Note in its
entirety. Print clearly using blue or black ink. Sign it carefully. Do not use correction fluid.
If there are any problems with your loan or your Master Promissory Note, you will be contacted by your lender. Make
sure you have used your correct mailing address and telephone number.