Loan Programs

Student loans are a form of financial aid that must be repaid, but they can be an important resource for covering college expenses when other aid options aren’t enough. McLennan Community College offers access to federal loan programs that provide flexible repayment options and competitive interest rates. Understanding your loan choices and responsibilities is key to making informed decisions about financing your education.
  1. Federal Direct Subsidized Stafford Loan

    A Federal Direct Subsidized Stafford Loan is a need-based federal student loan for undergraduate students where the U.S. Department of Education pays the interest while the student is in school, during grace periods, and during deferment periods.

  2. Federal Direct Unsubsidized Stafford Loan

    A Federal Direct Unsubsidized Loan, sometimes referred to by the older term "Stafford Loan," is a type of federal student loan that is not based on financial need, with the borrower responsible for paying all interest that accrues from the moment the loan is disbursed.

  3. Federal Parental Loans to Undergraduate Students (PLUS) Loan

    A PLUS Loan is a type of federal student loan that graduate or professional students and parents of dependent undergraduate students can use to pay for educational expenses.

  4. Master Promissory Note & Loan Counseling

    After the FAFSA (Free Application for Federal Student Aid) has been completed and the Direct Federal Stafford Loan Award is listed on the MyMCC, the following steps must be completed.

    1. Accept/Reject your Loan(s) on MyMCC.
    2. Complete Loan Entrance Counseling (if you have not already done so for MCC).
    3. Complete and e-sign a Master Promissory Note (if you have not already done so for MCC).
  5. Direct Loans for Summer Terms

    Students interested in Direct Loans for the summer must complete and submit a   Summer Request Form. Direct Loan eligibility will be based on any unused eligibility from the fall and spring semesters.

    Loan eligibility is based on FAFSA results, and the student must be enrolled in a minimum of 6 credit hours in the summer. 

    Eligibility

    In order to be eligible for these awards, all students must be making satisfactory progress according to the standards at McLennan Community College.