​​Applying for a William D. Ford Federal Direct Loan At Shasta College
  ​​​

Federal Direct Loan Applications are now OPEN for: Fall 2019 & Spring 2020 

Current Processing Time: 4-6 weeks

  530.242.7708
 
​Before you apply for a William D. Ford Federal Direct Loan:​​
 

Quick Checklist to apply for a Direct Loan at Shasta College:

 
oObtain an current, complete Educational Plan
​o Submit your FAFSA and complete required steps for an award letter
o Receive your Award Letter and determine your financial need
o iGRAD Entrance Coun​seling (if you have completed iGRAD Entrance Counseling for Shasta College for the 2018/19 Academic year, you can skip this step)
o Complete your Loan Agreement for a Subsidized/Unsubsidized Loan (Master Promissory Note, if you have signed this within the last 10 years you can skip this step)
o Request Loan Amount through your MyShasta Portal (see detailed instructions below to navigate to the application)
o Receive email confirmation of loan eligibility once evaluated (processing takes 4-6 weeks depending on time of year) 
Download and Print Detailed Instructions Here:
 
 
Important Federal Direct Loan Reminders:
 
  •  Once your financial aid file is processed, it will take up to 4-6 additional weeks to process a loan from the date that your award letter is provided and the date that you submit your loan request.
  • Communication will be via mail, your MyShasta-MyFinancial Aid portal and email. 
  • From the date that the first disbursement processes, you have 14 days to cancel your loan.
  • By law, the soonest a loan can be disbursed is 30 days after the semester begins.
  • You must be actively enrolled in six or more units to receive a Federal Direct Loan at the time of census date for each semester.
  • A high risk borrower is defined as a prior federal student loan borrower who has either defaulted on their student loan and/or has over $25,000 in prior loan debt. A high risk borrower will have additional steps to be approved for a Direct Federal Loan with Shasta College.  Shasta College has the right to deny a student from borrowing if they are classified as a high risk borrower in order to manage the college's cohort default rate. Shasta College will make every effort to assist students apply for other grants and scholarships if denied.
  • You must maintain Satisfactory Academic Progress
 
Frequently Asked Questions
​Leaving Shasta College? Don't forget to do the following...
 
 
 
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Loan Exit Counseling IS REQUIRED
 
Ext 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. 
 
 
 
 
 
Need assistance in entering a repayment plan and not sure where to start?
 
Shasta College has partnered with ECMC to provide students hands on assistance in helping manage their Federal Direct Loans.
 

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.