Evergreen Valley College participates in the U.S Department of Education's Direct Loan Program. Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education.
Subsidized and Unsubsidized Federal Direct Loans are available for students, EVC does NOT participate in Direct PLUS loans, Alternative and/or Private Loans.
With Direct Loans you:
Think Before Borrowing
A Direct Student loan is a long-term financial obligation which can limit your cash flow and your purchasing ability for many years into the future. We hope you will seriously evaluate whether taking on loan debt is truly necessary to make ends meet. We strongly recommend you look at your budget and expenses and evaluate where you can save money before taking on loan debt. If you decide a loan is a necessity to meet your educational expenses, borrow only what you need, this can help save your loan eligibility for when you transfer to a four year school to assist in covering the increased expenses.
Federal Student Loans can help you pay for educational expenses and help relieve stress on how to cover these educational expenses, but please remember always be informed and borrow responsibly.
Here are some factors to think about when determining if you need to borrow and how much to borrow:
These are just a few factor to consider please visit the link below for more information.
Federal Student Loans Basics for Students
We have provided informative and important information on this page that will help you make an informed decision about borrowing a student loan, how much to borrow and what type of loan to borrow. This information is to help you understand Evergreen Valley College's loan process and policies along with your options and responsibilities as a student borrower. If you have questions about any of the information on this page or if there is something that was not covered please contact the Loan processor in the Financial Aid Office.
July 1, 2020 - May 1, 2021
request are to be submitted by December 2, 2020, to receive a loan disbursement
in the Fall 2020 semester. If your request is submitted after this date your disbursement
may be delayed. There are no exceptions to loan request deadlines, due to processing
time and scheduled disbursement dates.
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For more information about the Direct Loan Program go to:
Federal Direct Loan Program YOU MUST READ THE STUDENT LOAN POLICIES AND LOAN REQUEST FORM PROCEDURES
BEFORE YOU SUBMIT A LOAN REQUEST FORM
If you have less than 30 degree applicable units with EVC/SJCC and want to be considered for 2nd year loan limits, an Evaluated transcript from your previous school(s) will need to be submitted with your loan request.
Note: Prior college units will only be counted if an EVC counselor has determined that the prior units apply to your current degree, certificate or academic program being pursued.
Student Loan Request Procedure
Great! Now that you read the loan policies and understand your responsibilities as a student borrower at Evergreen Valley College, you can start completing the steps to the loan request.
There are three (3) easy steps to submitting a Student Loan request, please read carefully and follow each step. If you do not complete a step this can cause a delay in reviewing your loan request and/or approval of your loan request. If you have any questions or you are having trouble completing a step, please contact our Financial Aid loan processor.
Steps to completing loan request:
1. Complete the FAFSA and submit all other required documentation.
*Student loan request will only be considered AFTER your financial aid documents have been processed and eligibility for free grant aid has been determined.
2. Complete Entrance Loan Counseling and sign the Master Promissory Note online.
in on to the Direct Loans website: https://studentloans.gov/myDirectLoan/index.actionComplete the Entrance Loan CounselingAfter
you have completed the Entrance Loan Counseling, complete the Master
Promissory Note. (you may want to print a copy for your record
in on to the Direct Loans website: https://studentloans.gov/myDirectLoan/index.action
Please Note: Entrance Loan Counseling and MPN (Master Promissory Note) are found on the same website
3. Submit completed Direct Loan Request and Student Loan Policies Acknowledgement Quiz to Financial Aid.
20-21 Direct Loan request and Student Loan Policies Acknowledgement Quiz.pdf
**You must meet all eligibility requirements at the time you submit your loan request.**
If you do not meet all of the eligibility requirements and have not already submitted all required documents at the time you submit your loan request your request results will be delayed.
After all required documents have been received, notification of approval or denial is sent by e-mail within one week.
Direct Loan Definitions
A postponement of payment on a loan that is allowed under certain conditions and during which interest does not accrue on Direct Subsidized Loans, Subsidized Federal Stafford Loans, and Federal Perkins Loans. All other federal student loans that are deferred will continue to accrue interest. Any unpaid interest that accrued during the deferment period may be added to the principal balance (capitalized) of the loan(s).
A student who does not have an outstanding balance on a Direct Loan or FFEL Program as of July 1, 2013.
A period of time after borrowers graduate, leave school, or drop below half-time enrollment where they are not required to make payments on certain federal student loans. Some federal student loans will accrue interest during the grace period, and if the interest is unpaid, it will be added to the principal balance of the loan when the repayment period begins.
Loans for students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, during the grace period, and during deferment periods.
Loans for students not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.
Entrance counseling explains the obligations you agree to meet as a condition of borrowing a Direct Loan.
Exit counseling provides important information that you need as you prepare to repay your federal student loan(s).
A period of time when your monthly loan payments are temporarily stopped or reduced. Interest will continue to be charged on your loans. Be aware that unpaid interest may be capitalized (added to your loan principal balance) at the end of your forbearance period.
An MPN is a legal document that contains the Borrower's Rights and Responsibilities and Terms and Conditions for repayment. Direct PLUS and Direct Subsidized / Unsubsidized loans have different MPN's.
Financial Aid Loan Processor