2017-2018 Packet NB INSTRUCTIONS Missing or Incomplete loan documents will not be accepted. This Loan Packet is for students who have never borrowed a Federal Direct Loan, or have a zero balance on a previous Federal Direct Loan. Step 1: Direct Stafford Loan Entrance Counseling & Master Promissory Note: Visit https://studentloans.gov to complete the following two requirements: Direct Stafford Loan Entrance Counseling If you have not previously received a Federal Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming. Electronic confirmation must be received by our office before a loan will be processed. 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 NBEQ: Form LB and Form NBEQ are included with this instruction sheet. 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 Shasta College Intermountain Campus 30 Arbuckle Court 37581 Mountain View Road Weaverville, CA 96093 Burney, CA 96013 Contact Number: 530.623.2231 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: First Name: Last Name: M.I: Address or PO Box: City: State: Zip Code: Email Address: Home #: Cell #: References: Two separate references are required, enter their information below. Reference #1: First Name: Last Name: Address or PO Box: City: State: Zip Code: Home #: Cell #: Email Address: References #2: First Name: Last Name: Address or PO Box: City: State: Zip Code: 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 Phone: (530) 242-7700 Who is a New Borrower? A student who has never borrowed a Federal Direct Loan A student who has a zero balance or has paid in full a previous student loan Be aware: Subsidized Loan Eligibility for First Time Borrowers has a time limitation as of July 1, 2013. Complete the PDF & Print OR Print & Complete each form legibly with black or blue ink, ONLY Student ID#: First Name: Last Name: Form NBEQ New Borrower Entrance Quiz Form The attached Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013 document will provide the answers to the following questions: What is the maximum period of time a new Federal Direct Subsidized Loan Borrower can receive Federal Direct Subsidized Loans? What is the maximum period you can receive Federal Direct Subsidized Loans when you are enrolled in an 18 month vocational program? You are a full-time student. You receive a partial Subsidized Loan for the Fall semester, but not the Spring semester, will this count as one-half a year toward your maximum eligibility period? You have received the maximum Federal Direct Subsidized Loans for your current program, can you Appeal to receive additional Federal Direct Subsidized Loans for your current program? If you do not graduate from your prior program and/or change your major to a program with the same length or shorter than your prior program, do you become responsible to pay the interest that accrues on your Federal Direct Subsidized Loan? Do you become responsible to pay the interest that accrued on your Federal Direct Subsidized Loan if you transfer to a four-year school? If you enroll in a different program, can the maximum eligibility period change? After completing your certificate program you wish to complete an Associate s Degree, will the Federal Direct Subsidized Loans taken out during your certificate program count toward your new maximum eligibility period? If you lose your interest subsidy, are you responsible to pay the interest on your Federal Direct Subsidized Loan? (check all that apply) 100% of your degree: True False 150% of your program: True False Enter Your Answer Here: (Math Question) Office Use Only Grace Period Forbearance All periods of repayment Meeting 150% without completion You have received loans for your maximum eligibility period. How can you become eligible for a Federal Direct Subsidized Loan again? Student Signature: Federal Student Loans are required by law to provide a range of flexible repayment options, including but not limited to, income-based repayment and income contingent repayment plans, and loan forgiveness benefits which are not required to be offered by private 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 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: 5/11/17 Page 1 of 1 Date: