Wilkes Community College participates in the William D. Ford Direct Loan Program. Under this program, the U.S. Department of education is your lender. You will have a loan servicer who is in charge of collecting payments, etc. There are four types of Direct Loans available.
- Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at WCC. No interest is charged while a student is in school at least half-time, during the grace period, and through deferment periods.
- Direct Unsubsidized Loans are loans made to eligible undergraduate students regardless of financial need. Interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.
- Direct PLUS Loans are unsubsidized loans made to the parents of dependent students. PLUS loans help pay for the education expenses up to the cost of attendance minus all other financial assistance.
- Direct Consolidation Loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.
Note: Student must be enrolled at least six (6) credit hours each semester to apply for and receive a direct loan.
Steps to Apply for a Direct Loan
- Complete the Free Application for Federal Student Aid (FAFSA). This must be done each year before your loan can be processed.
- Complete the Online Entrance Counseling.
- Complete your Master Promissory Note (MPN)
- Complete the WCC Loan Request Form
- Complete the Financial Basics on the CFNC website. You must score at least 80% on this.
New Loan Applicants - Complete all steps. Print off and turn in steps 2-4 with the Loan Request Form
Returning Loan Applicants - You should have previously completed steps 2-4. Print off verification of these and turn in with your Loan Request Form.
How to Apply for a Loan
Loan Request Form
Loan Cancellation Instructions
The Student Guide provides additional information regarding the types of loans available, annual loan limit, repayment guidelines, etc.
Anyone with questions regarding student loans should contact the Financial Aid office.
All students who receive a student loan at WCC must complete Exit Counseling when they drop below half time, graduate or leave the college due to withdrawal.