Changes in Financial Aid
FLCC is making some changes in the way we handle student loans. Beginning in Summer 2010, FLCC will be part of the William D. Ford Federal Direct Loan Program. Under the Direct Lending program, the funds for your Federal Stafford Loan will come directly from the federal government and NOT from a bank, credit union, or other lending institution.
Borrowing in the Fall 2010 or Spring 2011?
Matriculated students who are registered for at least six credit hours and who are in good academic standing may be eligible for a Federal Direct Stafford Loan. Qualified first-year students may borrow up to $5,500; second-year students up to $6,500. Independent students may also be eligible for up to an additional $4000. All students must first file a 2010-2011 FAFSA form at www.fafsa.gov by APRIL 1st, 2010, so their financial aid eligibility can be determined.
Once your 2010-2011 FAFSA has been received by the Financial Aid Office and your aid eligibility has been determined, you will be mailed a Financial Aid Award Letter. In the award letter you will receive instructions on how to: accept, reduce or decline your offered Direct Stafford Loan(s), complete an online Direct Loan Master Promissory Note and complete an online Direct Loan Entrance Counseling session.
Borrowing in the Summer 2010?
Matriculated students who are registered for at least six credit hours and who are in good academic standing may be eligible for a Federal Direct Stafford Loan. Qualified first-year students may borrow up to $5,500; second-year students up to $6,500. Independent students may also be eligible for up to an additional $4000. All students must first file a 2009-2010 FAFSA form at www.fafsa.gov as soon as possible and a Summer Financial Aid Application, so their financial aid eligibility can be determined.
Once your applications have been received by the Financial Aid Office and your aid eligibility has been determined, you will either be mailed a Financial Aid Award Letter or you will receive an email notification.
Still have questions? Learn more about direct student loans here.