Direct Loan Deadlines & Requirements

Application Period for Direct Loans

  • Fall 2023 - Spring 2024 Loan Request deadline is Friday, April 12, 2024. No Requests will be accepted after that date.

How to Apply

You must complete all of the following items before we can process a loan for you:

1. 2023-2024 FAFSA

2. Half-Time Enrollment

  • Be enrolled in at least six (6) Title IV eligible units at Shasta College, at time of loan awarding and at time of loan disbursement.

3. Eligible SAP (Satisfactory Academic Progress) Status

  • You can view your status in Financial Aid in MyShasta.

If any of the above items (#1-3) are not complete, your loan request will be rejected.

4. A “Counselor Approved” Educational Plan* 

  • Must be archived in MyShasta by your counselor
  • Must include the Fall 2023 and 2024 semesters, and ALL semesters needed to complete your major. Loans will be awarded based on semesters included in your ed plan.
  • Must include:
    • Shasta College Title IV eligible Educational Goal (major) in the notes
    • All coursework required to complete your Educational Goal 
    • All prior colleges you have attended. This is mandatory, and you will need transcripts on file.
    • Your counselor must notate your major and each prior college in the Notes section of the Approved Ed Plan, and detail whether or not any units apply to your Educational Goal. Please contact the Counseling Center at (530) 242-7724 for an appointment.

*The complete educational plan is waived if, and only if, you are accepted into and currently taking coursework in the ADN program, Dental Hygiene program, or the Bachelor’s Degree in Health Information Management program. These programs have set admission requirements and follow a set series of coursework for completion. You may be asked to provide proof of acceptance into the program.

To avoid any delays, all above items must be completed prior to submitting a Loan Request. Please note, it can take up to 8-weeks from the date you submit your request to the time it is reviewed. If the above items aren’t complete when we review your request, you will be notified to complete any missing items and then submit another request!

5. Submit a Loan Request by logging in to Financial Aid via MyShasta on or after July 5, 2023

High Risk Borrower
A “High Risk Borrower” is defined as someone who has:

  • Been in default on a prior student loan at any time
  • For a Dependent student, has prior loan debt that exceeds $11,000
  • For an Independent student, has prior loan debt that exceeds $19,000
  • An excessive number of F grades, or W, FW, or EW withdrawals

If you fall into one of these categories, there could be additional steps in processing your loan that could lengthen the review process. A high risk borrower should understand their prior loan debt obligation and consider carefully before requesting an additional loan. Review prior loan history at https://studentaid.gov/fsa-id/sign-in/landing.

Refusing to originate a loan or originating for less than maximum eligibility
HEA Sec.479(A)(c), 34 CFR 685.301(a)(8), DCL GEN-11-07

Shasta College, on a case-by-case basis, may refuse to award a loan or award a loan for less than maximum eligibility, as long as those refusals do not constitute a pattern or practice that denies access to borrowers because of race, sex, color, income, religion, national origin, age, or handicapped status. If such a decision is made for your loan request, you will be given a written explanation via email. 

Requirements for Loan Disbursement

  • Accept your Direct Loan Award(s) in MyShasta
  • Master Promissory Note (MPN): The Master Promissory Note (MPN) is a legal document in which you promise to repay your Loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).
  • Entrance Counseling: Entrance counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You’ll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default.
  • Half-Time Enrollment
    • Be enrolled in at least six (6) Title IV eligible units at Shasta College, at time of loan awarding and at time of loan disbursement.
    • If you are in late start classes, you must have begun attending at least 3 units prior to receiving a loan disbursement.

These are Federal Student Aid requirements for loan disbursement. Under no circumstances will loan disbursement be made unless these are met.

After Graduation or Leaving Shasta College

  • Exit Counseling: You must complete Exit Counseling when you leave school or drop below half-time enrollment. The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment.