2024-2025 Federal Direct Loan Authorization Form

Please review the following before you complete the Loan Authorization Form:

  • Your NCC bill in MyPlace to determine if you need to borrow loan funds
  • Your federal loan eligibility and the terms they will be applied to on your Award/Offer letter
  • Make sure to complete the Entrance Counseling and Master Promissory Note with NCC chosen to receive the information.
  • Step 1 - Demographic Information

  • Step 2 - Loan Amount Request

    Review your NCC bill and your Award/Offer Letter to decide how much to borrow for the 2024-2025 Year. Your initial Award/Offer Letter indicates the maximum amount of loan eligibility, but you may not need to borrow the maximum.

    Note: Indicate below the amount you wish to borrow for the FULL YEAR which begins with the fall semester and ends after spring or summer.
  • If a Federal Subsidized Direct Loan is on your Award Letter, how much do you wish to borrow for the FULL YEAR? Disbursements will be equally divided among all terms of enrollment.

    If you are not eligible for the Subsidized Loan please enter $0.
    If I do not qualify for the Federal Subsidized Direct Loan requested above due to my enrollment level or additional aid received, I authorize NCC to process a Federal Unsubsidized Loan for the same amount.
  • If a Federal Unsubsidized Direct Loan is on your Award/Offer Letter, how much do you wish to borrow for the FULL YEAR? Disbursements will be equally divided among all terms of enrollment.

    If you do not want to borrow the Unsubsidized Loan you are eligible for please enter $0.

    I understand that if I borrow an Unsubsidized Loan, interest on that loan will begin to accrue on the day the Department of Education first disburses the loan and the interest will be capitalized, greatly increasing the amount of my loan.

    To prevent the capitalized interest from increasing my total loan debt, I understand that I may pay the interest on the Unsubsidized Loan while in school. I know I need to contact my loan servicer to pay the interest.
  • Step 3 - Other Assistance

    Please indicate below if you will be receiving the following types of assistance for your educational costs for the 2024-2025 school year:

    Any scholarships, tuition reimb., etc. Do NOT list any aid already reported on your Award/Offer Letter
  • Any scholarships, tuition reimb., etc. Do NOT list any aid already reported on your Award/Offer Letter
  • Amount of "other" source
  • Any scholarships, tuition reimb., etc. Do NOT list any aid already reported on your Award/Offer Letter
  • Amount of "other" source
  • Step 4 - Graduation

  • Step 5 - Your Rights and Responsibilities Regarding your Federal Student Loan

    I understand I must be enrolled at least half-time (6 credit hours) each term I plan to receive loan proceeds.

    I understand that federal regulations may require multiple disbursements of all loan funds.

    I understand that all loan funds will first be credited to my student account.

    I understand that the loans may be reduced or adjusted if other award amounts change or if additional awards are added (scholarships, grants, sponsorships, etc.).

    I understand that if this is the first loan I am borrowing at NCC, I am required to complete Loan Entrance Counseling and a Loan Agreement (Master Promissory Note). If I fail to do so, my loan will not be processed, and the loan funds will not be available to pay my bill at NCC.

    I understand that I may lose financial aid eligibility if I am not attending or making progress in classes.

    I understand that if I am not maintaining satisfactory academic progress my future loans will be cancelled.

    I understand that when requesting a Direct Loan, the loan information will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.

    I understand that an origination fee (1-2%) will be deducted from each disbursement.

    I will promptly inform my Direct Loan Servicer and NCC when I graduate, withdraw from school, enroll in less than 6 credits per semester or change my name and/or address.

    I understand that I must complete a mandatory Loan Exit Counseling session after I graduate, transfer, withdraw or drop to less than half-time status.

    I understand I must begin repaying the loan six months after I graduate, withdraw or drop below half-time (6 credits).

  • By placing your initials here, you acknowledge that you understand your rights and responsibilities.
  • It is recommended that you print a copy of this form for your records before submitting.