2017-2018 Packet PD INSTRUCTIONS Missing or Incomplete loan documents will not be accepted. This Loan Packet is for students who have previously defaulted on a Federal Direct Loan and would like to apply for another Federal Direct Loan at Shasta College. Step 1: Master Promissory Note: Visit https://studentloans.gov to complete the following requirement: Master Promissory Note Electronically sign the Master Promissory Note (MPN) online with the Department of Education. Electronic confirmation must be received by our office before a loan will be processed. This must be completed each year you apply for a loan at Shasta College. Step 2: Comprehensive Educational Plan: Submit a copy of your Comprehensive Educational Plan. All prior school units must be included in the evaluation. If you need to make an appointment to obtain a current Comprehensive Educational Plan please call the Counseling Center at 530.242.7724. Step 3: Form LB and Form PDE: Form LB and Form PDE are included with this packet. Complete the PDF s & Print OR Print & Complete each form legibly with black or blue ink, ONLY Submission of this Loan Packet: Submit loan packets in person, ONLY: Loan forms submitted by any of the following ways will NOT be accepted: Mail > Fax > E-mail > Night drop box > Anyone other than the student who is applying. Bring your Valid Driver's License or State Issued Picture ID: Shasta College will make a copy to keep with your loan forms. SUBMIT THIS PACKET TO ANY SHASTA COLLEGE CAMPUS Shasta College Financial Aid Office Shasta College Tehama Campus Main Campus Building 100, Room 108 770 Diamond Avenue 11555 Old Oregon Trail Red Bluff, CA 96080 Redding, CA 96003 Contact Number: 530.529.8980 Contact Number: 530.242.7700 Shasta College Trinity Campus 30 Arbuckle Court Weaverville, CA 96093 Contact Number: 530.623.2231 Shasta College Intermountain Campus 37581 Mountain View Road Burney, CA 96013 Contact Number: 530.335.2311 For more information visit Federal Direct Loan webpage at www.shastacollege.edu/fa_loans. Updated: 5/9/17
17-18 Annual Loan Limits Dependent Student Subsidized Unsubsidized Combined Max First Year $3,500 $2,000-$5,500 $5,500 Second Year $4,500 $2,000-$6,500 $6,500 BS-HIM Upper Division Coursework ONLY Third Year and Beyond $5,500 $2,000-$7,500 $7,500 Independent Student Subsidized Unsubsidized (Max) First Year $3,500 $6,000-$9,500 $9,500 Second Year $4,500 $6,000-$10,500 $10,500 BS-HIM Upper Division Coursework ONLY Third Year and Beyond $5,500 $7,000-$12,500 $12,500 Combined Max Aggregate Loan Limits Subsidized Unsubsidized Combined Max Dependent Undergraduates $23,000 $8,000-$31,000 $31,000 Independent Undergraduates $23,000 $34,500-$57,500 $57,500 Current Student Loan Interest Rates Loans first disbursed on or after 7/1/17 & before 7/1/18 Federal Direct Unsubsidized = 4.45% Federal Direct Subsidized = 4.45% WARNING: If you borrow the annual maximum every year, you may reach the aggregate limit before you have completed your educational goal. Review you aggregate loan totals at www.nslds.ed.gov. You will need your FSA ID to access this site. Students and members of the Armed Forces have the right/ability to refuse all or to borrow less than the maximum allowed loan limits. Borrowing limits will be based on student grade level at the time of certification. This includes Shasta College units completed and transferable units on the student s Comprehensive Educational Plan.
1 LB FORM LOAN BORROWERS FORM Financial Aid and Veterans Services Office PO Box 496006, Redding, CA 96049-6006 Phone: (530) 242-7700 Staff: Complete the PDF & Print OR Print & Complete each form legibly with black or blue ink, ONLY Student Information: Student ID#: Date of Birth: M.I: Email Address: Home #: Cell #: References: Two separate references are required, enter their information below. Reference #1: Home #: Cell #: Email Address: References #2: Home #: Cell #: Email Address: Are you a current or former member of the U.S. Armed Forces or are you a Veteran? Yes No Expected Graduation Month/Year / from Shasta College and Career Goal: You must specify an amount below. Loan Limits can be found on the Federal Direct Loan webpage. I am requesting a Subsidized Loan in the amount of: $ I am requesting a Unsubsidized Loan in the amount of: $ I understand loan funds will be processed based on eligibility; not requested amounts listed above. I currently owe student loans in the amount of: (Loan information: www.nslds.ed.gov) $ Upon completing my education I anticipate my total student loan debt will be: $ After graduation I expect my monthly salary to be: (Salary Information: www.salary.com) $ After Graduation My Household Expenses Will Be: Monthly Expenses Hint: Average Expense Information Office Use Only Rent $ $750 1,000. (2 bedroom) Food $ $300 800. (Family) Car $ Gas, insurance & car payment Utilities $ $80 300. Personal $ Clothes, Entertainment, Misc Student Loan Payment $ Loan Payment Calculator: https://studentloans.gov Other $ Credit, Daycare, Medical, etc Total Expenses $ For more information on budgeting go to: www.cashcourse.org Net Income $ Monthly Salary MINUS Total Expenses = Net Income It is your responsibility to notify the US Department of Education at https://studentloans.gov of any change in your name, address, phone number, school transfer status, or graduation date. Loan funds are paid in 2 disbursements. I UNDERSTAND THIS IS A FEDERAL EDUCATION LOAN THAT I MUST REPAY. Student Signature: Date: Federal Student Loans are required by law to provide a range of flexible repayment options, including but not limited to, income-based repayment, income contingent repayment and loan forgiveness benefits which are not required for other student loans. Federal loans are available to students regardless of income. This form contains personally identifiable information. It is important to safeguard your information. Do not mail this form to the U.S. Department of Education. Submit this form in person to Shasta College Financial Aid Office Room 108, or to the Shasta College Tehama, Trinity, or Intermountain Campuses. Make a copy of this form for your records. Shasta College is an equal opportunity educator and employer. Page 1 of 1
Financial Aid and Veterans Services Office PO Box 496006, Redding, CA 96049-6006 Phone: (530) 242-7700 Form PDE PRIOR DEFAULT EXPLANATION FORM Office Use Only Complete the PDF & Print OR Print & Complete each form legibly with black or blue ink, ONLY Staff: Student Information: Student ID#: Date of Birth: Email Address: Home #: Cell #: Why have you previously defaulted on a student loan? Page 1 of 2
Student ID# Form PDE PRIOR DEFAULT EXPLANATION FORM What circumstances have changed that will prevent you from defaulting again if you are approved for loan certification at Shasta College? You must explain any changes in your financial circumstances and how these changes will help you stay out of default You must also specifically state your willingness to repay any loan funds borrowed. Your appeal cannot be approved without this information. The last day to certify loans is 45 days prior to the end of the semester. You may submit this form with any supporting documents to the Financial Aid and Veterans Services Office. Your request will be reviewed and you will receive a written response by mail. Student Signature: Date: The Education Act authorizes the use of discretion by Financial Aid Administrators. The Shasta College Financial Aid and Veterans Services Office does not discriminate against any borrower or applicant in obtaining a loan on the basis of race, national origin, religion, sex, marital status, and age or disability status. This form contains personally identifiable information. It is important to safeguard your information. Do not mail this form to the U.S. Department of Education. Submit this form in person to the Shasta College Financial Aid and Veterans Services Office, Room 108, or at Shasta College Tehama, Trinity or Intermountain Campuses. Make a copy of this form for your records. Shasta College is an equal opportunity educator and employer. Updated: 5/9/17 Page 2 of 2