William D. Ford Direct Stafford Loan Program:
Freshman maximum - $5,500.00
Sophomore maximum - $6,500.00
Interest Rate effective July 1, 2021
- 3.73% for the subsidized loan* Federal government pays interest while student is in
school
- 3.73% for the unsubsidized loan Student is responsible for interest while in school
- 6.28% for the PLUS (Parent Loans for Undergraduate Students)
You can view your financial aid awards, read messages, accept or decline loans and determine what documents are required. Start by logging in at MyNCC.
To be considered for federal loan, a student must
- have a valid FAFSA on file with the College,
- be enrolled in at least 6 financial aid eligible credits at the time of disbursment,
- be meeting satisfactory academic progress standards and
- be matriculated in an approved degree or certificate program.
Important: If you choose to accept a student loan, you must then complete an Entrance counseling
session and Master Promissory Note at studentaid.gov.
If you need to request a student loan, complete a Loan Request form
The US Department of Education will assign your loan to a Loan Servicer. Your loan
servicer is the organization that handles billing you for your loan repayment and
can assist you with any questions you may have about your loan. Visit studentaid.gov to find out who your loan servicer is.
National Student Loan Data System (NSLDS) is the central database for student aid. It receives data from schools, guaranty
agencies, the Direct Loan program and other Department of ED programs. NSLDS provides
borrowers access to information on all student loans and/or federal grant amounts,
including information on loan status, outstanding balances, and disbursements.
Remember, when a student/borrower has graduated, is enrolled in less than 6 credits
or left school, they must complete a loan Exit Counseling session for the Stafford loan. You can complete this requirement online
at studentaid.gov or come into our office for an in-person loan exit interview.
The understanding of personal finance and student loan debt are financial literacy
topics of particular importance to college students. Visit http://www.ncc.edu/admissions/financialaid/financial_literacy.shtml.
SUNY Smart Track will assist you from the time you apply and even after you graduate!
Parent PLUS Loans:
PLUS loans are unsubsidized loans for the parents of dependent students enrolled at
least half-time at a school that participates in the Direct Loan Program.
Applicants for this loan must be student's biological or adoptive parent. If the biological
or adoptive parent has remarried at the time of completing the FAFSA, the stepparent
may apply for this loan on behalf of the student.
Parent PLUS Loan borrowers cannot have an adverse credit history (a credit check will
be done). In addition, parents and their dependent child must be U.S. citizens or
eligible noncitizens, must not be in default on any federal education loans or owe
an overpayment on a federal education grant, and must meet other general eligibility
requirements for the Federal Student Aid programs.
Applications for this loan are available on the Financial Aid forms page. Once approved, the borrower (parent) must complete a PLUS loan promissory note at
studentaid.gov
Federal Nursing Student Loan:
Restricted for students in the Nursing program only
- Maximum - $3,000.00 per year
- Interest rate - 5%
Request an application in the Financial Aid Office.
Remember, when a student/borrower has graduated, is enrolled in less than 6 credits
or left school, an Exit Interview must be completed for the Nursing loan. This is
separate and in addition to the Direct Stafford loan exit and is done in person in
the Student Financial Affairs office. For more information on the Nursing Loan, contact
our loan officer.
It's important to be a responsible borrower and manage your student loans.
