Federal Stafford Loans are a form of financial aid that must be repaid on a specific schedule and may or may not be need based. Almost any student can qualify for a student loan, even those with moderate income.

Federal student loans are awarded based on your FAFSA. These can be subsidized (government pays the interest while you are in school) or unsubsidized loans (you are responsible for the interest while in school.)

If you have received an Award Letter Notification and have ACCEPTED your loans by returning the award letter you must do one of the following:

First Time Borrowers:  You must complete the online Loan Entrance Counseling and the Master Promissory Note. New Student Loan Entrance Counseling and MPN

Continuing Students:  IF you have borrowed student loans in prior years you still must fill out the Online Entrance Counseling. Continuing Student Loan Entrance Counseling

If you need additional loan funds please contact the financial aid office in order to determine if you have remaining eligibility.  You will be required to fill out the Supplemental Loan Request Form. 
Supplemental Loan Request Form

All students who graduate, drop below 1/2 time, and/or withdraw from Northwest State and have borrowed student loans must complete the ONLINE Exit counseling.  You will be notified by the Financial Aid office once you need to complete this process.

Please click on the link below and follow the steps.

LOAN EXIT COUNSELING

Federal PLUS Loans enable parents with good credit histories to borrow in order to pay the education expenses of their children. To be eligible, the child must be a dependent undergraduate student enrolled at least half time. The yearly borrowing limit on the PLUS loan is equal to your cost of education minus any other financial aid you receive.

The interest rate is 8.5%. The borrower may also pay a loan fee of 3% of the amount borrowed, which is deducted from each disbursement. The loan fee is paid to the lending institution. Repayment generally begins at 60 days after the final loan disbursement. There is no grace period. This means that the interest begins to accumulate at the time of the first disbursement and repayment of both interest and principal begins while the student is in school.

How to Apply

Step 1:  Parent borrowers must fill out the Plus Loan request form below and return it to the financial aid office in order to determine eligibility.
Parent Plus Loan Request Form

Step2:  Parent borrower must complete the online Master Promissory Note (MPN) by following the link below.
Parent Plus Loan Online MPN

ATTENTION ALL PARENT BORROWERS

The Northwest State Community College Financial Aid office and the Business Office participate in Electronic Funds Transfer (EFT). Loan proceeds are electronically sent to NSCC and deposited into the student's Business Office Account where they are applied toward his/her educational expenses. EFT eliminates individual checks that require endorsement by the borrower.

NSCC will transmit the loan proceeds electronically and deposit them into the student's account; any credit balance will be mailed to the student by state warrant (check) at the student's local address.