{"id":62,"date":"2025-08-29T13:15:07","date_gmt":"2025-08-29T13:15:07","guid":{"rendered":"https:\/\/www.gcc.mass.edu\/sfs\/?page_id=62"},"modified":"2025-12-23T19:27:58","modified_gmt":"2025-12-23T19:27:58","slug":"loans","status":"publish","type":"page","link":"https:\/\/www.gcc.mass.edu\/sfs\/aid\/loans\/","title":{"rendered":"Student & Parent Loans"},"content":{"rendered":"

There are many ways to pay for college. First and foremost, a student pays for their college expenses through savings, earnings from a full-time or part-time job, scholarships, help from family and finally financial aid from the federal government. After exhausting all these options, there are loan programs, but loans should only be considered as a last resort<\/strong>.<\/p>\n

<\/span>Direct Loans<\/div>
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At 911±¬ÁÏÍø, Federal Direct Loans<\/a> are offered in moderate amounts to help cover education-related expenses such as transportation, laptops, required equipment or supplies, and musical instruments. 911±¬ÁÏÍø does not offer on-campus housing, so loans are not available for housing costs.<\/p>\n

Financial aid packages are designed to prioritize covering tuition, fees, and books, helping students minimize additional financial strain. Loans should be considered only after other funding options\u2014such as savings, work income, scholarships, and grants, have been explored.<\/p>\n

Federal Direct Loans are available to eligible students enrolled in at least 6 credits and include subsidized and unsubsidized options. Repayment begins six months after graduation, withdrawal, or dropping below half-time enrollment.<\/p>\n

Entrance and exit counseling<\/strong> are mandatory federal requirements for all Direct Loan borrowers. At the beginning of the fall and spring semesters, in-person entrance counseling is an option for first-time borrowers.<\/p>\n

A Master Promissory Note (MPN) is required of first-time borrowers and covers ten total academic years, before a renewal is required. The MPN is completed online, through Federal Student Aid, using the student’s FSA ID.<\/p>\nOnline Entrance Counseling <\/i><\/a> Online ExitCounseling <\/i><\/a>\n\n\n\n

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<\/i> Loan Eligibility & Repayment<\/h4>
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  • Loan eligibility and student rights and responsibilities in repayment are all clearly outlined in Entrance and Exit Counseling.<\/li>\n
  • Entrance Counseling is required of all first-time Direct Loan borrowers.<\/li>\n
  • Exit Counseling occurs annually if the student takes out Direct Loans in that academic year.<\/li>\n<\/ul>\n<\/div>\n\t\t\n\t\n\t\n\t\n<\/div>\n