Loan Application Steps

There are different steps and forms to fill out for the different educational loan programs.

Direct Stafford Loan for Students

The William D. Ford Federal Direct Loan (Direct Loan) Program is a program lending money directly to students. Students are required to complete a three step loan process to receive their Stafford Loan. These steps include entrance counseling, a Master Promissory Note Application, and a Direct Stafford Loan Worksheet.

The first step to obtaining a Direct Stafford Student Loan is getting advice about borrowing (loan counseling).

1. Student Loan Entrance Counseling

Second Step to a Direct Stafford Student Loan

2. Master Promissory Note

Third Step to a Direct Stafford Student Loan

3. Direct Stafford Loan Worksheet DL Worksheet (fill out, sign, and return)

Direct Parent Loan to Undergraduate Students (PLUS)

The Parent PLUS Loan is a loan program (not need based) allowing parents to borrow for a dependent undergraduate student. Repayment of principal and interest usually begins within 60 days of loan disbursement. The parent, however, may choose to have the payment deferred during their students enrollment of at least half time (6 credit per semester).

PLUS Loan Application for parents

Student Loan Exit Counseling

The federal government requires that students who have graduated and received student loan funds must participate in loan exit counseling. The government also requires that borrowers who leave the college for any reason or drop below half time must participate in loan exit counseling.

Fortunately, at Ancilla College loan exit counseling is easy. At Ancilla College we have our exit counseling on the web. You can complete this requirement by choosing the below link:

Complete Student Loan Exit Counseling

For more information on loans or if you have questions, email Ancilla’s Financial Aid Office: finaid@ancilla.edu.

Alternative/Loans

For information on Alternative/Private loans click here.