Federal Loan Acceptance and Disbursement
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 FSA ID and password 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 Overview tab, then the Terms and Conditions tab. Read the Terms and Conditions of receiving student loans and other aid at Red Rocks Community College, along with other valuable information about your eligibility. Once you have reviewed this information, click on the Accept button at the end of the page. After you have read and signed the Terms and Conditions document, please complete the required loan adjustment form. If you do not wish to borrow loans, no action is necessary, as loans will not be processed without you having accepted them.
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 Loans
Please 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:
2015-2016 Federal Direct PLUS Loan Application