Federal Direct Loans are a form of financial aid that must be repaid, usually after you graduate, withdraw from college or drop below half-time enrollment status. Federal Direct Loans provide low fixed interest rates with attractive repayment options and deferment/ cancellation opportunities.

If you are a first-time borrower on or after July 1, 2013, please familiarize yourself with the new federal regulations regarding a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program of study. For more information, please review the U.S. Department of Education’s Federal Student Aid announcement concerning this time limitation.

If you have ACCEPTED your loans by logging in to your myNSCC account you must complete the Master Promissory Note and Entrance Counseling Exam.

The MPN is a promissory note that can be used to make Federal Direct student loans for multiple academic years (up to 10 years). Because NSCC is authorized and chooses to make multiple loans under the same MPN for more than one academic year, you will only sign one MPN. It will be used for all of your Direct Loans at NSCC. For example, if you enroll in college as a freshman and borrow under the Direct Loan Program for all years of study, you are able to borrow under this MPN for all years.

The online Entrance Counseling was designed to help you understand your Direct Loan. Any undergraduate, graduate, or transfer student attending NSCC that has not previously borrowed funds from the William D. Ford Federal Direct Loan program must complete this process before their loan can be disbursed. Please contact the Financial Aid Office at any time if you have additional questions about the entrance counseling process.