Loans are often used by students and families to help finance the cost of a college education. There are different types of loans available depending on your circumstances. TCC participates in the U.S. Department of Education's Direct Loan Program. To apply, students must be enrolled in at least six credits.
Types of federal loans
Federal Direct Loans
Federal direct loans are available to students who qualify for federal financial aid and are enrolled in at least six financial aid eligible credits per semester. If you decide to borrow, there are two types of Federal Direct Loans: subsidized and unsubsidized. Eligible parents of dependent students can also take out Direct Parent PLUS loans.
Subsidized Direct Loans: These loans are available based on your demonstrated financial need, determined by information provided on your FAFSA. The federal government will pay the interest on a subsidized loan while you are in school and completing your program successfully. There are limits on how much you can borrow based on your grade level in school.
Unsubsidized Direct Loans: These loans are available for students who don’t demonstrate financial need. You are responsible for all interest that accrues on the loan. You may choose to make interest payments while in school or defer interest payments, which will then be added to the principal of the loan. There are limits on how much you can borrow based on your grade level in school.
Federal Parent PLUS Loans
PLUS loans enable parents with good credit histories to borrow to help pay for their child’s college expenses. The student must be enrolled in at least six financial aid eligible credits and in a degree program. Parents may borrow up to the student’s full cost of education less other types of financial aid. If your family is interested in a Parent PLUS loan, please contact a financial aid advisor at your campus financial aid office.
Direct Loan repayment information:
- ECMC Solutions – offers free student loan counseling to all previous and current TCC borrowers. Live chat with a representative at www.ecmcsolutions.org or call 1-877-331-3262.
- National Student Loan Data System – review your entire loan history and servicer contact info at www.nslds.ed.gov. Log in with your FSA User ID and Password.
- Federal Student Aid online – find a repayment plan that works for YOU, estimate your monthly payments, learn how interest in calculated, and much more at http://www.studentaid.ed.gov/sa/repay-loans
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These loans are federal loans made to students by the U.S. Department of Education through the William D. Ford Federal Direct Loan Program. Eligibility for this type of direct loan is determined by the college and the U.S. Department of Education from the results of the FAFSA (Free Application for Federal Student Aid).
Note: Enrollment in at least 6 financial aid eligible credits is required in order to receive a Federal Direct Loan.
Direct Loan process: Required steps
Complete the Free Application for Federal Student Aid (FAFSA) for the current academic year and receive your Student Aid Report (SAR) from the U.S. Department of Education.
Review your Financial Aid Award Notice from TCC. Then verify that the awards are posted in your student account by checking the student information system (SIS) to verify that the awarding process is complete. Please note that if you submit a Direct Loan Request before receiving your Financial Aid Award Notice, you may be denied.
Submit a Student Direct Loan Request by visiting TCC’s Direct Loan application site.
Please do not submit more than one Direct Loan Request if you do not see your Direct Loan Award posted in SIS. You should submit a supplemental loan request only if you need to borrow additional funds.
You will be notified through your student email account if your Direct Loan Requests are approved. During peak enrollment periods, please allow 5 to 7 business days for processing.
Please see the contact information below if you need assistance:
Financial aid help is available 24/7/365 by phone and online
Regular office hours are:
Monday and Tuesday: 8:30 a.m. - 6:30 p.m.
Wednesday to Friday: 8:30 a.m. - 5:00 p.m.