Student Loans

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The Federal Family Educational Loan (FFEL) provides low interest loans (6.0% for Subsidized loans and 6.8% for Unsubsidized loans for 2008-2009) through participating lenders. Students must complete the FAFSA (Free Application for Federal Financial Aid). If the student is eligible for a Stafford Loan, he/she will be notified with a financial aid award notice. Students may also be eligible for the unsubsidized Stafford Loan. The subsidized Stafford Loan is based on need, whereas the unsubsidized Stafford and PLUS Loans are non need based loans. The PLUS Loan is an auxiliary type of loan that provides additional funds for educational expenses. PLUS Loans are available to parents of dependent students only.

How Do I Get a Student Loan?

Step 1 - Do You have your Federal PIN?

Step 2 - Application for Student Loans / Federal Stafford Loan

Student Loans (Federal Stafford Loans) are a form of financial aid that require students to first complete the FAFSA form and be admitted and enrolled at least half time (6 credit hours) in an eligible program. The FAFSA serves as the "application" for the student loan.

Begin FAFSA Application Process Now

Step 3 - Entrance Counseling

The interactive counseling session will help you to understand the responsibilities that come with your student loan. It must be completed prior to receiving loan funds.

It MUST be completed:

for all first time student loan borrowers,
for transfer students that have not borrowed a Stafford loan in the past 12 months
for students that have not borrowed from BTC in past 4 years
if your MPN is over 10 years old

Begin Entrance Counseling Process Now

Step 4 - Master Promissory Note

An MPN is a legally binding contract you sign, agreeing to repay the Stafford Loan money you have borrowed. This must be done prior to any monies being disbursed. Note: Your Federal PIN is needed as a signature for your MPN. (see step 1)

Begin Master Promissory Note Process Now
- Lender Disclosure Statement (Please Review)

Step 5 - Exit Counseling

When you graduate, or drop below half-time attendance, you are required to complete exit counseling. This interactive counseling session will help you plan for the repayment of your student loans.

Begin Exit Counseling Process Now

For more Information, Contact Blackhawk Technical College Financial Aid Office at:

(608) 757-6330

jmoller@blackhawk.edu


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