Direct Student Loans are another source of financial aid at DCCC, but these funds have to be repaid by the borrower/student. Direct Loans are low-interest loans for students to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education rather than a bank or other financial institution. Annual borrowing limits vary based on the student's year in school.  Parents may apply for a Direct PLUS Loan.

Loans, like grants and other financial aid sources, require completion of the Free Application for Federal Student Aid (FAFSA).  If verification is required, that process must be completed BEFORE a loan request can be processed

Requirements for applying for a student loan and maintaining eligibility:

  • Complete the FAFSA (and verification if applicable) and have a DCCC Award Notification which includes offered student loans.
  • Current confirmed enrollment in at least 6 credit hours (1/2 time) in an eligible program of study
  • Meet Satisfactory Academic Progress (SAP) Standards
    • Earn/maintain a cumulative GPA of 2.000 or higher
    • Earn/maintain a cumulative completion rate of 67% of all attempted course hours
    • Complete program within 150% of the standard length of time
    • Suspended financial aid due to SAP means NO loans or grants
  • Not exceed borrowing limits set by the US Dept of Ed.
  • Complete required loan steps (listed below) to request a student loan. Missing requirements or incomplete forms will prevent processing loan requests and delay funds

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Student Loan Acceptance Requirements:

Summer 2015–Summer Only Loan Borrowers

Required Loan Steps for the 2015-2016 Academic Year

STEP 1: Complete Entrance Counseling at www.studentloans.gov

  • Sign in with your secure login (same as FAFSA).
  • Select "Complete Counseling" in the center of the page
  • Select "Entrance Counseling"
    • You will need your award amounts and college costs to help with budgeting during the loan entrance counseling.
  • Select DAVIDSON COUNTY COMMUNITY COLLEGE to notify.
  • You are an UNDERGRADUATE student.

* Take your time and read carefully to know how much you’ll OWE.  You must personally complete loan counseling because you will be responsible for repayment. You can change your mind at any time and NOT borrow.

STEP 2: Complete a Master Promissory Note at www.studentloans.gov

  • Sign in with your secure login (same as FAFSA).
  • Select "Subsidized/Unsubsidized" as the type of loan.
    • You’ll need your Driver’s License and all of your current contact information, phone numbers and emails and contact information for two loan references as well.
  • Select DAVIDSON COUNTY COMMUNITY COLLEGE as school.
  • You are an UNDERGRADUATE student.

* Take your time reading the conditions of the loan. You must personally complete the Master Promissory Note because you will be responsible for repayment and consequences. You can change your mind and NOT borrow.

STEP 3: Complete the DCCC Loan Acceptance Form.

  • You must have a DCCC student e-mail AND a current year award letter which includes offered student loans.
  • Steps 1 & 2 must be completed BEFORE acceptance.
    • You’ll need your most current contact information, phone numbers and emails and contact information for your loan references as well to complete the form.

* Take your time completing the loan acceptance form. Incomplete forms will prevent timely processing. You can change your mind and NOT borrow.

Exit Loan Counseling:

Required by all DCCC students when:

  • they complete each academic year (to update information).
  • they Graduate from DCCC or transfer to another college.
  • they Withdraw from all classes OR drop below half-time hours.

*You must personally complete the Exit Loan Counseling and list DCCC because you will be responsible for repayment arrangements.

EX$EL Repayment Success Program:

All student loan borrowers at DCCC will be enrolled in the EX$EL program for Repayment Success.  EX$EL Repayment Success is run by the College Foundation of NC with Students are contacted regularly to keep on top of their student loan status.  They are NOT a collection agency.  They are there to HELP YOU be successful; financially, educationally and professionally. Be sure to sign up for their Financial Education modules!

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Loan Processing Timelines:

Allow 4-weeks for processing loan requests

Summer Only Loans 2015

Processing Begins: Feburary 1, 2015 Processing Ends: June 12, 2015
Loan Acceptance Steps Deadline: Anticipated Loan Disbursements:
June 12, 2015 July 3, 2015 & July 17, 2015

 

Fall/Spring Loans

Loan processing for 2015-16 Fall/Spring Loans begins after June 1, 2015
If MPN Entrance Counseling AND Loan Acceptance Form are completed by: Loans are dvided into four equal disbursements and presume required enrollment.
Anticipated Loan Disbursement Dates:
 
Aug. 1, 2015 (Fall tuition may be held for loan students) Fall: Part 1 Fall: Part 2 Spring: Part 1 Spring: Part 2
Sept. 1, 2015 Sept. 25 Nov. 13 Feb. 19 April 8
Oct. 1, 2015 Oct. 23 Nov. 13 Feb. 19 April 8
Nov. 1, 2015 Nov. 13 Nov. 13 Feb. 19 April 8
Dec. 1, 2015 Dec. 11 Dec. 11 Feb. 19 April 8
Fall/Spring loan acceptances will not be processed after Dec. 1 to allow time for disbursement, but may be considered for Spring/Summer loans.

 

Spring/Summer Loans

Loan processing for 2016 Spring/Summer Loans begins after  August 1, 2015
If MPN Entrance Counseling AND Loan Acceptance Form are completed by: Loans are dvided into four equal disbursements and presume required enrollment.
Anticipated Loan Disbursement Dates:
 
Dec. 15, 2015 (Spring tuition may be held for loan students) Spring: Part 1 Spring: Part 2 Summer: Part 1 Summer: Part 2
Feb. 1, 2016 Feb. 19 April 8 July 1 July 15
March 1, 2016 March 18 April 8 July 1 July 15
April 1, 2016 April 8 April 8 July 1 July 15
May 1, 2016 May 20 May 20 July 1 July 15
Spring/Summer loan acceptances will not be processed after May. 1 to allow time for disbursement, but may be considered for Summer-only loan.

 

Summer 2016

Loan processing for Summer-only loans begins after February 1, 2016. Summer-only loan amounts may NOT exceed a standard single term loan amount.
If MPN Entrance Counseling AND Loan Acceptance Form are completed by: Loans are dvided into two equal disbursements and presume required enrollment.
Anticipated Loan Disbursement Dates:
 
May. 15, 2016 (Summer tuition may be held for loan students) Summer: Part 1 Summer: Part 2
June 10, 2016 July 1 July 15
Spring/Summer loan requests will not be processed after June 10 to allow time for disbursement.
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Financial Aid Office

B.E. Mendenhall Jr. Building

Hours of Operation:
Monday & Tuesday: 8 a.m. - 6 p.m.
Wednesday, Thursday, Friday: 8 a.m. - 5 p.m.

Call Us: 336.249.8186, ext. 6393
Fax Number:
336.224.0240
finaid@davidsonccc.edu

Contact Now

Financial Aid Deadlines

Fall 2015
FAFSA Application:
June 1, 2015
FAFSA File Completion: June 15, 2015
Admissions Application/Placement: August 1, 2015
Classes will begin August 17

Spring 2016:
FAFSA Application: November 1, 2015
FAFSA File Completion: November 15, 2015
Admissions Application/Placement: Dec. 1, 2015

Summer 2016:
FAFSA Application: April 1, 2016
FAFSA File Completion: April 15, 2016
Admissions Application/Placement: May 10, 2016