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Financial Aid Office

How to Apply For A Student Loan

Student loans, unlike grants and work-study, are borrowed money that must be repaid with interest. You cannot have these loans canceled because you didn’t like the education you received, didn’t get a job in your field of study or because you’re having financial difficulty. Loans are legal obligations, so before you take out a student loan, think about the amount you’ll repay over the years. Learn the basics and manage your loan debt. Watch the videos Responsible Borrowing to learn about your responsibilities as a borrower and what you should consider when taking out loans for college and Repayment: How to Manage Your Student Loans to learn more about changing repayment plans, postponing or reducing your payments, or combining your federal student loans.  You may also visit StudentLoans.gov and then click on Managing Repayment at the top of the page for more information.

  1. Fill out a Free Application for Federal Student Aid (FAFSA) and indicate Delta College’s school code (002251). If you are eligible for grant assistance, you will receive an e-mail notification from the Delta College Financial Aid Office. Your Financial Aid Award Letter will be viewable through your MyDelta account.

  2. Next complete Entrance Counseling and sign the Master Promissory Note (MPN) at StudentLoans.gov. Once confirmation is received, you must put the Identification Number on the loan application (see step 3). 

  3. To request a loan, log in to MyDelta and complete the Federal Stafford Loan Application found under the Financial Aid heading.

  4. If you have not completed Step 2, the Financial Aid Office will not process your loan request.


Student Loan Disbursement

  • After a Federal Direct (Stafford) or Parent Plus loan has been certified by Delta College, the student will receive notification by email directing her/him to access their MyDelta Account for approved loan type and amount based on the credits indicated on the loan request form.
  • The borrower will also receive information regarding the Federal Direct (Stafford) and/or Parent Plus Loan approval from the Federal government. This letter will include the approved loan amount and anticipated dates when the funds will be released to Delta College for processing.
  • Attendance will be verified before loan disbursement(s) will be released to the student and adjusted if necessary.
  • Loans will be disbursed in two installments per semester.
  • The first disbursement of loan funds will be released approximately 8 weeks into the semester after classes have started and the student is enrolled in 6 or more credit hours.
  • The second disbursement will occur near the mid-point of the semester after classes have started and the student is enrolled in 6 or more credit hours.
  • A student’s tuition and fees may be charged up to the amount of her/his approved loan less origination fees. If a balance remains after the charges have been deducted from the loan, this must be paid by payment deadline. 
  •  Students may charge books against a student loan if a credit balance remains after tuition and fees have been paid.  Students can request to use their loan in the Bookstore by selecting this option on their loan application or by completing the Loan Modification form within their MyDelta account and select the Bookstore option.
  • Students are notified via their Delta email account when their loan funds are received by the college and prior to the release of these funds. Loan balance checks are mailed by the Student Finance Office to the current home address on file with the college.
  • Refunds of loan proceeds will be given to the student once their account has been paid in full.
  • If the account is not paid in full by the time registration begins for the next semester, Delta College will place a hold/freeze on the student’s account until her/his tuition and fee charges have been paid in full.

Federal Policies for Federal Direct (Stafford) and Parent Plus Loans

  • Before a Parent Plus Loan can be processed, Delta College must have received a completed FAFSA for the student.
  • Students must be registered in a minimum of six credit hours. 
  • Students must be working towards a degree or certificate program at Delta College. 
  • If a student drops below 6 credits and has received loan funds, the grace period will begin immediately. 
  • Students must meet all Delta College Financial Aid Satisfactory Standards of Academic Progress (SAP) policies. 
  • Attendance will be verified before loan disbursement(s) will be released to the student and adjusted if necessary.
  • Student borrowers need to complete the Master Promissory Note and Entrance Loan Counseling prior to submitting the Federal Direct Student Loan Request Form. 
  • Parent borrowers need to complete the Master Promissory Note.
  • Loan counseling is not required for a Parent Plus loan. 
  • Exit Loan Counseling must also be completed once a student graduates or drops below part-time at Delta College. 
  • Delta College will not authorize late disbursements after the end of the loan period.
  • In computing the aggregate indebtedness, all Federal Loans received at Delta College and at other institutions will be considered.
  • You can access information regarding your Federal student loans at www.nslds.ed.gov. You will need your Federal pin number to access this site. 
  • Loans will be recalculated for eligibility if you registered for fewer credit hours than indicated on your loan application.

2010 - 2011 Loan Calculator

Loan Repayment Options (PDF) 


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