Direct Loan Application Process
STEP 1. BEFORE you apply for a loan, you must:
1) Complete the 2019-2020 FAFSA online at www.fafsa.gov
2) Complete all required financial aid verification items (if any)
3) Meet the Financial Aid Satisfactory Academic Progress (SAP) standards
4) Register for classes in at least 6 credit hours (half-time)
5) First-time borrowers at ACC must also go to https://studentloans.gov log in with your FSA ID and select:
a) Complete Loan Agreement (Master Promissory Note), select Subsidized/Unsubsidized, complete the information and submit, and
b) Complete Loan Counseling, select Entrance Counseling, complete the information and submit.
STEP 2. SUBMITTING the loan request:
1) Complete and sign the 2019-2020 Federal Direct Loan Amount Request Form
2) Submit it to the ACC Financial Aid Office.
STEP 3. AFTER you submit the loan request:
- Financial Aid Staff will review your Direct Loan Request Form
- The loan certification process may take approximately 2-3 weeks. Inaccurate or incomplete information on the Direct Loan Amount Request Form may delay loan processing.
- Loan information will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by authorized users of the system.
- After the loan certification, students will receive an award notification in their ACC email account regarding updated loan award.
- Loan refunds are disbursed according to Federal guidelines and the student’s preference selected on the Direct Loan Amount Request Form.
Recommended Borrower Resources:
- Log on to the National Student Loan Data System to check your loan balance and servicer information on www.nslds.ed.gov
- Go to https://mappingyourfuture.org/paying/debtwizard/index.cfm to see how much salary you need to support your student loan debt.
- If you are currently employed and you stay employed with the company making a certain wage, you can use the site to see how much you can afford to borrow in student loans based on your current salary.
- You may also adjust the amount to minimum wage to see the maximum you should borrow based on minimum wage earnings.