Once you have received your award notification
from the Financial Aid Office, initial loan eligibility will be offered on your
award notice if you indicated you were interested in student loans when you
completed your Free Application for Federal Student Aid.
Remember, loans must be repaid. Borrow only what you need. You may plan a budget here and are encouraged to follow these steps and then calculate the loan repayment. To be eligible for a Federal Direct Stafford Loan you must:
- Maintain satisfactory academic progress
- Enroll at least half-time (6 credit hours) in an eligible degree or certificate program
- Not be in default, overpayment or owe a refund on any Federal Loan or Grant
- Not have reached the Federal aggregate limits for Stafford Loans (for undergraduate: $23,000 subsidized; $57,500 combined subsidized and unsubsidized).
Applying for a Federal Direct Student Loan:
Failure to follow the steps below in order may result in a delay in processing and receiving loan funds. Loan offers accepted online without the direct loan entrance counseling and master promissory note will be cancelled. Please read carefully and contact our office if you have any questions.
Be sure to have your four-digit PIN available (used when completing the FAFSA) before starting the steps below.
- Complete the Direct Loan Entrance Counseling and sign a Direct Loan Master
Promissory Note. Both must be completed online at www.studentloans.gov.
You must complete these requirements regardless of whether or not you have
borrowed an FFELP or Direct loan at another institution in the past. Once done, these are usually good for 10 years at RRCC.
- Accept your Federal Direct Loan through your student account login on The ROCK portal. Click on the Student Finances tab, then on the Financial Aid Awards box, select aid year (13/14 or 14/15) and go to the "Accept Award Offer" tab. You may reduce the loan amount online as well. Your award offer is the maximum loan amount for the fall/spring loan period with an equal disbursement each term.
Click here to view the Financial Aid Code of Conduct and our relationship with lenders, guarantors and servicers of education loans. Financial Aid Code of Conduct.
Disbursement of Direct Student LoansPlease check your account online for updates to your loan status. All loan change requests are processed in the order they are received. Any single-term loan periods will have a two-disbursement requirement.
New direct student loan borrowers will be subject to a 30-day delay in releasing student loan funds (from beginning of term). Click here for more information on disbursement of financial aid funds.
The Direct PLUS Loan is available to parents of dependent students who wish
to borrow funds to assist with their child's education. Some
undergraduate dependent students require additional funds, especially those who
are paying out-of-state tuition. Parents please begin here:
2013-2014 Federal Direct PLUS Loan Application
2014-2015 Federal Direct PLUS Loan Application