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TCC participates in the William D. Ford Federal Direct Loan Program (DL).

The following two loans are available through this program:

  • Federal Subsidized Stafford Loan: Awarded on the basis of financial need. The federal government pays the interest while you are in school. You must be enrolled in at least six eligible hours.
  • Federal Unsubsidized Stafford Loan: Is not awarded on the basis of need. You will be charged interest from the time that the loan is disbursed until it is paid in full. You must be enrolled in at least six eligible hours.

Quick Facts About the Federal Direct Loan Program

Description Percentage
TCC students who take out a federal direct loan 9%
2018 Cohort default rate for TCC students with a federal direct loan(s)* 14.4%
2018 Cohort default rate national average* 7.3%

*The federally calculated cohort default rate (CDR) measures how many federal student loan borrowers default within a specified period of time after entering repayment.

Applying for Federal Loans

To apply for a federal student aid direct loan, you must:

  1. Be fully admitted to TCC.
  2. Have your FAFSA application submitted and fully processed.
  3. Submit a loan request through MyTCCTrack.
    • Expand the Financial Information menu
    • Go to Financial Aid then Request a New Loan
    • Complete and submit the Request a New Loan form
  4. Complete the Loan Entrance Counseling (explains the obligations you agree to meet as a condition of receiving a direct loan).
  5. Complete the Master Promissory Note (MPN) after you've received an award notification with the loan amount offered.
  6. Be enrolled in at least six eligible hours and maintain satisfactory academic progress.

After steps 1-6 are met, the first disbursement will be issued by TCC approximately seven days prior to the start of the first six credit hours of the semester or approximately two weeks from the date awarded and all requirements are met, whichever is later.

First-time borrowers are required to wait 30 days before for their first disbursement and may need to set up a payment arrangement to secure their class schedule. One-semester loans are disbursed in two payments.

Federal Stafford Annual Loan amounts for a single academic year, effective July 1, 2008, are:

Dependent Students

  Subsidized Unsubsidized
0–29 Hours $3,500 $2,000
30+ Hours $4,500 $2,000

Independent Students

  Subsidized Unsubsidized
0–29 Hours $3,500 $6,000
30+ Hours $4,500 $6,000

All direct loans are funded by the Federal Government and pay a 1.057 percent loan fee. Loan amounts maybe adjusted down based on an individual's Cost of Attendance (COA).

Know Before You Owe!

National Student Loan Data System (NSLDS)

The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid.

NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants, so recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. The system can help you learn about your loan status, assist with repayment methods to keep your loan out of default and keep you aware of where your loan debt is currently.

Federal Loan Servicers

You start loan repayment six months after you stop attending at least half-time. Once you go in to repayment, you will be contacted by a federal loan servicer to make payment arrangements.

Updated April 20, 2022