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Direct Loans
The Financial Aid Office automatically awards all students their full Direct Loan eligibility for the year. Students are not required to borrow Direct Loans. We strongly encourage students to assess their educational expenses for the year and only borrow what they need.
Please review the 2020-2021 Direct Loan Guide for detailed information on Direct Loans.
To reduce or decline the Direct Loan(s) offered to you:
- Complete the Direct Loan Decline and Reduction Form
To accept any portion of the Direct Loan(s) offered to you:
- Complete Entrance Counseling: All first time borrowers at QCC must complete Entrance Counseling which provides you with important information regarding your rights and responsibilities as a Direct Loan borrower. You can easily fulfill this requirement by going to studentaid.gov Sign in using your FSA ID and click on Entrance Counseling. Please be sure to select QCC to receive the information.
- Complete a Master Promissory Note (MPN): A promissory note is a legally binding contract between you, the borrower of a Federal Direct Stafford Loan, and the federal government. It contains the terms and conditions of the loan and explains how and when it should be repaid. Therefore, it is very important that you completely read and understand all of the information on the promissory note. MPN's are also signed at studentaid.gov using your FSA ID.
- BOTH Entrance Counseling AND Master Promissory Note must be completed before a loan can disburse onto your student account.
- Stay informed about the time limitation on Direct Subsidized Loan Eligibility for first-time borrowers on or after July 1, 2013.
- Repayment of educational loans begin after a student graduates, stops attending, or is enrolled less than half time. Therefore, in accordance with federal regulations, student loan borrowers must complete Exit Counseling.
- Borrowers can choose from different repayment plans to make payments more affordable.
- Use the loan payment calculator to estimate your monthly loan payments.