Federal Direct Stafford LOANS

2014-2015

Federal Direct Stafford Loan 

  

Deadline

Friday, November 21, 2014 is the last day to submit a Loan Application for the Fall 2014 semester

Before you apply for a loan

Read Your Federal Student LoansUnderstanding student loans is very important. Before applying for a loan you should make sure that you fully understand its terms and conditions. You should also be aware of your rights and responsibilities. Use the following link to to learn these and more. 

Read the Los Angeles City College Student Loan Guide for important information about Stafford Loans and general financial aid eligibility.

In addition to the requirements indicated in the student loan guides above, you must be enrolled in at least six (6) eligible semester units to be considered for student loans. 

Follow these steps to apply for a Federal Stafford Loan

Use this Stafford Loan Checklist to verify that you have included all required items before you submit the loan packet to the Financial Aid Office.

  • 2014-2015 FAFSA: Complete a 2014-15 Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov
  • Award Notification: Complete your financial aid file and receive your award notification or an email indicating that your file was reviewed but you are not eligible for need based aid.
  • Direct Loan Entrance Counseling: All borrowers must complete the Direct Loan Entrance CounselingProof of completion must be submitted with loan packet. Please note that repeat borrowers must complete entrance counseling again. The proof of completion must be dated on or after July 1, 2014 (exceptions may be made on a case-by-case basis).
  • Master Promissory Note: New borrowers must complete a Master Promissory Note (MPN). Borrowers must submit a copy of the MPN.
  • Financial Literacy Lessons: All borrowers must complete 3 literacy lessons, click on this link for instructions: Financial Literacy Lessons
    • Borrowers that have never completed financial literacy lessons at LA City College
      • Complete Lesson 203 - How Do I Live on a Budget While I'm in School?  
      • Choose any other two (2) of the remaining lessons. Instructions are on page 1. The list of lessons is on page 2. There is short test at the end of each lesson. You must score at least 70% on each lesson.
      • Print out the test results only and submit them with the loan packet. Do Not Print Out The Entire Quiz
    • Borrowers that completed financial literacy lessons at LA City College in a prior academic year
      • Choose any three (3) lessons. You may choose a lesson that you previously completed.  However, if you don't get a higher score your results will not be recorded. If you completed lessons in a prior academic year you may substitute a lesson of your choice for

        How Do I Live on a Budget While I’m in School.

        You will then have to repeat the lesson or choose a different one. Instructions are on page 1. The list of lessons is on page 2. There is short test at the end of each lesson. You must score at least 70% on each lesson.
      • Print out the test results only and submit them with the loan packet. Do Not Print Out The Entire Quiz
  • Student Loan Request Form: Complete the Student Loan Request Form. After completing the form, print it, sign it, and submit it with the complete loan packet. Click for the form here - Student Loan Request Form.
  • Student Loan History: Submit a printout of your Student Loan HistoryIf you have never borrowed before you will still print out the history. It will be blank.
  • Picture ID: Submit valid state issued picture identification, or U.S. passport