Apply for Loans
There are three primary types of federal loans you can apply for. Each has unique features, so be sure to study and understand the loan types before applying.
Stafford Loan | Perkins Loan | PLUS Loan | Alternative/Private Loans
Stafford Loan ^Top
How to Apply for Federal Direct Stafford Loan
BORROWERS MUST COMPLETE ALL STEPS
Step 1: Complete the 2014-2015
Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. After you receive the Miami Dade College award letter, you may follow the steps below.
Step 2: Complete the Loan Entrance Counseling
You must complete and submit a copy of the undergraduate Entrance Counseling. Please visithttps://www.studentloans.gov and sign in to "Manage my Federal Direct Loan" in order to complete the Entrance Interview.
Step 3: Submit the NSLDS History www.nslds.ed.gov
You must submit a copy of the NSLDS Federal Direct Stafford Loan history. You may obtain your NSLDS history at www.nslds.ed.gov.
Step 4: Submit Repayment Calculator
You must submit a copy of the monthly Repayment Calculator based on your current loan debt listed on the NSLDS history. To access the repayment calculation please visit http://studentaid.ed.gov/repay-loans/understand/plans/standard/comparison-calculator.
Step 5: Complete the Electronic Master Promissory Note
You must complete the Electronic Master Promissory Note at https://www.studentloans.gov. Sign in to "Manage my Federal Direct Loan" in order to complete and electronically sign the Master Promissory Note (MPN).
Step 6: Complete the Federal Direct Stafford Loan Request Form
You must complete the attached Federal Direct Stafford Loan Request.
*All documents requested should be submitted by you in person to your financial aid office, or can be uploaded through your Federal Direct Stafford Loan Request Form.
- To be eligible students must be enrolled and attending at least half time (eligible 6 credits or more) for each semester for which the loan is intended.
- Your loan may be modified, cancelled, and/or returned if you dropped or withdraw to below half-time status (less than 6 credits).
- Federal Direct Stafford Loan proceeds are disbursed after the semester begins and enrollment is verified.
- First time borrowers will receive the first disbursement 30 days after the first day of class.
- Federal Direct Stafford Loan fund can only be received for up to 30 credits of remedial courses.
- Eligibility changes (i.e. change in enrollment, change in academic program of study) may change your eligibility and may cause the loan to be reduced or cancelled.
- Additional funds received after the loan is processed may change the certified amount.
- Be aware that all fees and current financial obligations owed to the college will be deducted from the financial aid award, which includes all loan programs.
- Refunds will be made after the 100% refund date.
- You must read the Borrowers Rights and Responsibilities and Annual Loan Maximums.
- Your 2013-2014 Subsidized and/or Unsubsidized Federal Direct Stafford Loan eligibility may change if you receive additional aid (such as scholarships, fellowships, departmental and agency award), if you change your enrollment, housing plans. If your eligibility for a Federal Direct Stafford Loan changes, we may:
- Cancel your loan;
- Reduce future disbursements for your loan; and/or
- Refund amounts already delivered to you.
Perkins Loan ^Top
- Complete/submit the Perkins Loan Request and Personal and Confidential information form on line (provide two person references)
- Complete the Perkins Loan Master Promissory Note (Do not sign MPN. All MPN must be sign in the presence of a Financial Aid staff member)
- Provide a copy of the Driver's License and Social Security Card to the financial aid office
- Complete the Perkins Entrance Counseling at "Mapping Your Future Perkins Loan Entrance Interview" and submit the Confirmation page to the Financial Aid Office.
PLUS Loan ^Top
- Complete the Free Application for Federal Student Aid (FAFSA): The student must complete the FAFSA prior to requesting a Federal Direct Parent PLUS Loan.
- Complete the mandatory credit check for the Federal Direct PLUS Loan: The parent must pass a mandatory credit check performed by the Direct Loan Servicing Center. MDC is not responsible for the decision made by the Federal Government.
- Sign a Federal Direct Parent PLUS Master Promissory Note (MPN) electronically using the PIN assigned to the parent borrower (same PIN as the one used to sign the FAFSA). If the borrower does not have a PIN, one can be requested. NOTE: If you have previously signed a Federal Direct Parent PLUS MPN, you do not have to sign another MPN.
- Complete the Federal Direct PLUS Loan Request Form.
- Submit all required documentation to your campus Financial Aid Office:
- Credit approval notice
- Copy of yours/and your parents' driver licenses, social security cards
- If you and/or the parent are eligible non-U.S. citizen, you must submit a copy of your Immigration documents.
- Signed Federal Direct PLUS Loan request form.
Alternative/Private Loans ^Top
Miami Dade College certifies alternative/private loans for International Students, or students in "high cost" educational programs (i.e. Aviation-Pilot Technology, Physicians Assistant, etc). Learn more about these types of loans.