DEPENDENT STUDENT
Academic Level	Annual Limit Subsidized & Unsubsidized	Annual Limit Additional Unsubsidized	Total Annual Limit
1st year (less than 30 credits earned)	$ 3,500	$ 2,000*	$ 5,500
2nd year (30 or more credits earned)	$ 4,500	$ 2,000*	$ 6,500
Note: Additional Unsubsidized Loan funds of up to $4000.00* per year, (not included in chart) may be available for students whose parents are denied a Parent Loan for Undergraduate Students (PLUS).

*Subject to approval

 

INDEPENDENT STUDENT
Academic Level	Annual Limit Subsidized & Unsubsidized	Annual Limit Additional Unsubsidized	Total Annual Limit
1st year (less than 30 credits earned)	$ 3,500	$ 6,000*	$ 9,500
2nd year (30 or more credits earned)	$ 4,500	$ 6,000*	$ 10,500

*Subject to approval

 

WHAT YOU NEED TO APPLY FOR A LOAN

To be considered for a Federal Direct Loan you must have the following:

• Completed a Free Application for Federal Student Aid (FAFSA)- http://www.fafsa.ed.gov
• Obtained a Federal Personal Identification Number ( PIN)- http://www.pin.ed.gov
• Completed an On-line BCC Confidential
  • Go to (http://financialaid.brookdalecc.edu)
  • Click on “Check the status of my financial aid”
  • Click on “Apply on-line” and answer questions including:
    • Answer “Yes” to “Do you want to be considered for a Federal Direct Stafford Loan?”
    • Enter the amount of loan requested
    • Select the term you wish to borrow Federal Direct Stafford funds
  • Meet all other criteria applicable to federal aid programs including:
    • Be a US citizen or eligible non-citizen
    • Be matriculated and enrolled for a minimum of 6 credits
    • Maintain satisfactory academic progress
    • If requested, provide additional documentation to the college

IN ADDITON ...ENTRANCE COUNSELING

Federal regulations require that ALL first-time Brookdale Community College Federal Direct Stafford Loan borrowers complete Stafford Entrance Counseling before being awarded a Federal Direct Stafford Loan. Click here to complete Stafford Entrance Counseling, follow the instructions, and submit. An electronic confirmation will transmitted to the Financial Aid Office within 24 hours.

 

HOW TO APPLY FOR A FEDERAL STAFFORD OR A PARENT PLUS DIRECT LOAN

1. Read the directions below and when you are ready, click here to start your Master Promissory Note.
2. Click on What to Expect from the side tool bar to see an overview of completing your Master Promissory Note.
3. Once you have reviewed the steps, click on Complete New MPN for Student Loans, or Complete New MPN for Parent PLUS Loans.
4. Click on Continue
5. Click on Proceed to PIN Registration to Begin. (You will use the same PIN you use to sign your FAFSA. If you don't have one, you will be instructed to go to the PIN website and apply for one.)
6. We recommend that you print out the section of the MPN process which explains the Borrower’s Rights and Responsibilities for future reference.
7. VERY IMPORTANT: While completing the electronic MPN on line, make sure to write down the three character Confirmation Code located at the end of Step 8 where a window will appear for you to review your signed MPN. You MUST enter the code on the screen after you finish reviewing your signed MPN.
8. Be sure to print a copy of your MPN for your records.
9. An electronic confirmation will be transmitted to the Financial Aid Office within 24 hours.

 

HOW YOU ARE NOTIFIED

The Financial Aid Office at Brookdale will send you an Award Letter when your loan has been awarded. Awards are determined on an ongoing basis and completed after your financial aid record is complete. To be complete you must respond to all requests for additional information and we must be in receipt of your Entrance Counseling, signed Master Promissory Note and BCC Confidential.

Please notify the Financial Aid Office if you change your mind and decide not to participate in the Direct Loan Program. You can cancel your loan up to 30 days after your loan is applied to your student account.

HOW YOUR LOAN FUNDS ARE DISBURSED TO YOU

Your award will be posted as “pending” until it is applied to your student account as a disbursement which occurs after the drop/add period of the term (approximately 2 weeks after classes start). All loans are disbursed in two payments. If your pending loan exceeds your tuition and fee charges you may purchase books using your remaining loan balance. The bookstore will have your information on file and will apply your available book charges against your tuition account. Any remaining credit balances will be mailed by check within 14 days of being credited on your student account.

LOAN REPAYMENT

For additional information on loan repayment, click here to link to "Repaying Your Student Loan".

 

HELPFUL TIPS

Click here to learn more facts about any of the following subjects!

A Guide to Responsible Borrowing

Choosing Between Parent PLUS Loans and Private

Debt Planning Worksheet

Stafford Loan Repayment Chart

Balancing Your Checkbook

Credit Card Smarts

Financial Planning Tips

Keeping on Top of Your Credit Report

Making the Most of Your Money