2014-15 William D. Ford Federal Student Direct Loan Request (FSDL) At ECC, we encourage you to borrow responsibly. It is advised that you only borrow what you need to cover your educational expenses. All loan funds that are disbursed on your behalf must be repaid with interest. Incomplete Request Forms will not be processed. ___________________________________________ Your Name (the student) ______________________ _____________________________ Your Student ID or SSN Email Address __________________________________________________ Mailing Address Apt. # ____________________________ Telephone Number ___________________ _______ City State ______________ Zip Code _________________________________ ________________________________ Program of Study/Major Month and Year of Expected Graduation Have you already received a loan through ECC for the 2014-15 academic year? Yes  No If you answered YES and have received a loan through ECC in the 2014-15 academic year, you do NOT need to complete Steps 1-4. 1. LOGIN at: www.studentloans.gov and open the “Manage My Direct Loan” section. You will need your PIN # used to complete your FAFSA. If you do not have a PIN #, you will need to request one before you can manage a Direct Loan Account. 2. COMPLETE THE ENTRANCE COUNSELING at www.studentloans.gov: Print and return the Entrance Counseling Confirmation. Entrance Counseling must be completed each academic year for ECC. 3. SIGN A MASTER PROMISSORY NOTE (MPN) at www.studentloans.gov: If you have previously completed a MPN in the past ten (10) years, you do not have to complete a new MPN. If you are unable to submit a MPN through this website, you may request a paper Direct Loan MPN from the ECC Financial Aid office. You are responsible for submitting your Direct Loan MPN. The ECC Financial Aid office does not submit MPNs on your behalf. 4. COMPLETE FINANCIAL LITERACY COUNSELING at: www.cfnc.org/paying/financial_literacy.jsp a) click on “Advanced Money Management” (b) continue to sign in page (c) enter your pre-existing account or create one (d) respond to questions on the following pages (e) launch the “Advanced Money Management” course (f) print and return the Literacy Counseling Completion Certificate (g) You may complete “Advanced Money Management” at your own pace. A score of 80 is considered a passing score for the course; if you DO NOT score at least 80, ECC Financial Aid WILL NOT certify a FSDL for you. You may take the course more than once. The Financial Literacy Counseling must be completed for each school year. You must return a copy of the Entrance Counseling Confirmation AND the Financial Literacy Counseling Completion Certificate along with this request form to the Financial Aid Office. 5. REQUESTED LOAN AMOUNT: $ ____________________________for Fall Fall & Spring Spring Spring & Summer Summer You cannot receive TOTAL loan amounts in one semester. LOAN LIMITS ARE BASED ON GRADE LEVEL AND ELIGIBILITY STATUS FOR ONE ACADEMIC SCHOOL YEAR: Dependent Undergraduate First Year (less than 32 hours completed) Second Year (32 hours or more completed) Independent Undergraduate First Year (less than 32 hours completed) Second Year (32 hours or more completed) Subsidized $3500 $4500 Subsidized $3500 $4500 Unsubsidized $2000 $2000 Unsubsidized $6000 $6000 Total (Subsidized and Unsubsidized) $5500 $6500 Total (Subsidized and Unsubsidized) $9500 $10500 SIGN AND RETURN the Federal Direct Student Loan Request Form to Financial Aid My signature below indicates acknowledgement and acceptance of the Federal Direct Loan. I understand if I drop below half-time or withdraw completely from the college, I may be required to begin repayment within six months. I have been informed that I must maintain Satisfactory Academic Progress (SAP). I am also aware that student loan money must be used to pay tuition, fees, books and supplies first. If a credit balance remains, it will be refunded to me in a timely manner in compliance with federal regulations. My initial disbursement may not be made until after 30 days into the semester. I understand if my requested amount is more than the subsidized loan limit, I will be receiving a portion of the amount in an unsubsidized loan. I understand that I am responsible for paying the interest on a quarterly basis while I am in school or I can allow the interest to accrue and be added to the principle amount of the unsubsidized portion of the FDSL. ___________________________________________ Your Signature ____________________________ Date COMPLETING THIS APPLICATION DOES NOT GUARANTEE THAT YOUR DIRECT LOAN APPLICATION WILL BE PROCESSED. Rev 12/14