Direct Loans

William D. Ford Federal Direct Loan Program

(Cerritos College does not participate in Direct PLUS Loans or Alternative/Private Loans)

Cerritos College offers Direct Subsidized and Unsubsidized Loans through the William D. Ford Federal Direct Loan Program. Students applying for a loan no longer need to select a lender. The U.S. Department of Education will be the lender.

Application will be reviewed and processed within 30 days. If your loan is denied you will receive a letter from the Financial Aid Office explaining the reason(s) for loan denial.

Students need to be actively enrolled in at least 6 units (half time) and meet all eligibility requirements to be considered for a loan(s).

2018-2019 Direct Loan Deadlines

Terms Last Day to submit MPN/LEC* Last day to accept/decline loans
Fall Only November 08, 2018 November 15, 2018
Fall/Spring April 25, 2019 May 02, 2019
Spring Only April 25, 2019 May 02, 2019
Summer Only June 06, 2019 June 12, 2019 

*Master Promissory Note
*Loan Entrance Counseling


2018-2019 Direct Loan Application is available July 1, 2018

If you are interested in applying for a Direct Loan, please read and carefully follow the steps below:

1
Receive a financial aid award notification
3

Complete a Direct Loan Entrance Counseling (new borrowers only)

4

Complete Direct Loan Master Promissory Note (MPN)

- The Master Promissory Note is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your student loan(s).

5
Log into MyCerritos to accept/decline or reduce offered Subsidized and/or Unsubsidized loan(s) see above deadlines. - Steps to Accept/Decline/Reduce Offered Loan Amounts 
 
 
6

A disbursement will be processed for eligible students according to the disbursement schedule. You can check the status of your disbursements online at MyCerritos.

- Students must meet SAP standards to be eligible for disbursement.

- Loan disbursement cannot be processed unless you are officially enrolled in at least 6 eligible financial aid units and classes have begun.

- New loan borrowers must wait 30 days before they can receive their disbursement.

 
 
7

Complete a Direct Loan Exit Counseling

- All students expecting to graduate or enroll in less than half-time (6 units) are required to complete an Exit Counseling.

- Completing the Loan Exit Counseling requirement is only one step in keeping your loan in good standing. Remember that student loan indebtedness is reported to credit agencies. Until your loan is paid in full, you should continue to communicate with your loan servicer regarding any changes in your address, school enrollment status, or questions about repayment options. 

Manage Your Loan

We’ve teamed up with Solutions at ECMC to answer all of your student loan repayment questions. Solutions is a service of the non-profit organization ECMC and is dedicated to helping students manage educational loans. Their resources are available to you free of charge.  Contact Solutions at ECMC by phone at 1-877-331-3262 or visit their website at www.ecmcsolutions.org to connect through email or web chat with one of their counselors.

ECMC Solutions Student load repayment and financial literacy services

Know What You Owe: The National Student Loan Data System has information about your federal student loans.

Manage Your Direct Loans: Make online payments, view your account balances and payment history, change your billing options, enroll in electronic services and much more.

Repayment Estimator: When it comes time to start repaying your student loan(s), you can select a repayment plan that’s right for your financial situation.

Grants and Scholarships

Before applying for a student loan consider searching for grants and scholarships. Reminder! All loans have to be paid back.

explore your options

   Grants and Programs

   Scholarship Links

   On Campus Scholarships

   Cerritos College Foundation Scholarships 

   I can afford college

 

 

 

Have a question? Find the answer: 

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