​​​​​​​​​​​​​​​​​​​​​​​​ Federal Direct Loans

 

Federal Direct Loan Application deadline for Fall 2018/Spring 2019 is CLOSED

 
Before you apply
Make sure you have completed the FAFSA for the current academic year. If you have not completed the FAFSA visit www.fafsa.gov to complete the application. 
   
Graduating or Transferring in Fall 2018?

Loan Exit Counseling is required!

  • ​​Print the Certificate of Completion and submit or mail to: 
    Shasta College Financial Aid Office.
    PO Box 496006 Redding, CA 96049-6006

Important Notes
Loan applications must be submitted
in person with valid photo ID

Incomplete or altered loan applications
will not be accepted

  • If you are unable to appear in person, loan applications Mailed, Faxed, Emailed, left in the Night drop box must be notarized. Any applications that are NOT submitted in person or have not been notarized will be returned by mail, which will delay processing.
​​​​Subsidized Usage Limits​​
Subsidized Usage Limits Apply to your Student Loan.
​View more information at: Direct Subsidized Loan Eligibility.mht
 

  Students who are:


 
Federal Direct Loan Application Packets
 Our loan packets are created with specific types of loan borrowers. Please read the information regarding each packet. Select and complete the one packet that matches your situation:  

New Borrowers

A new borrower has never received a Federal Direct or has a zero balance on previous Federal Direct Loan(s).      Complete, print and submit the following form: 
     2018-19 Packet NB

Experienced Borrowers

An Experienced Borrower has previously received
a Federal Direct Loan(s) which are not currently paid
in full.
      Complete, print and submit the following form: 
      2018-19 Packet PLB 
   
 

High Loan Debt Borrowers **

A high loan debt borrower currently has $25,000 or more in outstanding federal student loan debt.
Complete, print and submit the following form : 
2018-19 Packet PLB
or
2018-19 Packet PD (if currently in default)
Complete the following Course
Smart Borrower-Borrowing smart and preparing for higher education found at iGRAD (you must login to iGRAD for the course links to work.)

Once complete, submit the certificate of completion with your packet.
 
 

Bachelor Degree Obtained Borrower **

A Bachelor Degree Obtained Borrower currently holds a Bachelor's Degree or the equivalent
Complete, print and submit the following form : 
2018-19 Packet BLC 

Complete the following course "Smart Borrowing-Staying on track with student loans while in school" found at iGRAD (you must login to iGRAD for the course links to work.)

Once complete, submit the certificate of completion with your packet.
  
 

Prior Defaulted Loan Borrower **

Prior Defaulted Loan Borrowers have previously received a Federal Direct Loan(s) which is not paid in full and was in a default status.
Complete, print and submit the following form : 
2018-19 Packet PD

Complete the following course "Borrowing smart and preparing for higher education " found at iGRAD (you must login to iGRAD for the course links to work.)

Once complete, submit the certificate of completion with your packet.

Note: If you fall into one of the groups with an “**”

You are considered a high risk borrower. In order for Shasta College to maintain eligibility to administer federal and state financial aid for all students, the college is required to monitor our cohort default rate. The cohort default rate is determined by the federal loan services when students become delinquent and/or defaulted on their student loans. The college may deny a loan request based on being classified as a high risk borrower. h owever the college will provide students in this classification the opportunity to explain their situation for possibly being granted additional loans.

 
Submitting Forms

  • Submit Loan Packets in person, ONLY:
    Loan forms submitted by any of the following ways will not be accepted
    Mail, Fax, Email, Night Drop Box or anyone other than the student who is applying 
I've Applied, What Now?
 

  • Once your financial aid file is processed, it will take up to 6 additional weeks to process a loan
  • Communication will be via mail, your "My Financial Aid" screen through "MyShasta" and email. 
  • If approved, loan amounts will be added to your Financial Aid Award Letter. 
  • An award letter with your specific disbursement dates will be mailed to you. 
  • By law, the soonest a loan can be disbursed is 30 days after the semester begins. 
  • Questions? Contact Lorelei at 530.242.7704 or email studentloans@shastacollege.edu

Leaving Shast a College? 

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Complete Loan Exit Counseling
Exit counseling is required when you graduate, transfer , or withdraw. To complete exit counseling login or create an account with iGrad and complete Exit Counseling
 
Start repaying your student loan:
The federal government provides a range of flexible repayment options for Direct Loan recipients. For more information on loan repayment and your options visit 
studentaid.ed.gov. 

Don't default on your student loans! 
ECMC provides free resources to Shasta College students to help manage your Federal Direct Loan.
ECMC is a non-profit service dedicated to helping students manage educational loans. 
To contact an Advisor, email or web chat, or call 1.877.331.3262.

 
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