Bakersfield College

Federal Direct Loan Instructions

Direct Loans are low‐interest loans for students and parents to help pay for the cost of a student's education. The lender is the U.S. Department of Education rather than a bank or other financial institution. Direct Loans are a form of financial aid and must be repaid with interest.

Bakersfield College strongly encourages students to apply for grants or scholarships before borrowing a student loan. A student loan is a serious long‐term obligation that should be used only as a last resort. If it is necessary for you to apply for a student loan, you must complete all required steps for processing of the Direct Loan.

The Direct Loan Program offers the following types of loans:

Subsidized

For students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least halftime, during the grace period, and during deferment periods.

Unsubsidized

Not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.

To apply for a Direct Loan you must meet the following eligibility requirements:

  • Your 2018‐2019 Financial Aid Awards must be finalized in order to apply for a Federal Direct Loan.
  • You must be enrolled in at least 6 degree applicable units in an eligible program of study at Bakersfield College. Wait listed courses do not count.
  • Bakersfield College must be declared as your home school. (The school you intend on graduating from.)
  • You must maintain Satisfactory Academic Progress as outlined in the Terms of Agreement for Bakersfield College.
  • You must have a declared major and educational goal and be following a Comprehensive Student Educational Plan.
  • Students on Financial Aid Suspension are ineligible for Direct Loans.
  • Students on Financial Aid Warning are required to submit a Student Progress Report signed by all instructors reflecting satisfactory grades in each course before funds will be released. Progress reports will be distributed by e‐mail to your student account starting October 10th for Fall, and March 6th for Spring. The forms will be accepted after October 10th for Fall Semester and after March 6th for Spring Semester.
  • Students who are approved on an Appeal Suspension status are required to submit a Student Progress Report signed by all instructors reflecting satisfactory grades in each course before funds will be released. The forms will be accepted after October 10th for Fall Semester and after March 6th,/sup> for Spring Semester.

1st Time (New) Borrowers

Contact the Office of Financial Aid to schedule a MANDATORY Student Loan Borrower Counseling on campus. Steps are made available online through verification connection after 72 hours of orientaion being completed.

Renewal Borrowers

Contact the Office of Financial Aid to schedule a MANDATORY Student Loan Borrower Counseling on campus. You will be assigned a time frame for an email to be sent to you with the instructions on completing the direct loan request. Steps will be made available online through verification connection after 72 business hours of the student sending email response to assigned loan technician. Loan technician name will be provided in original email sent to the student.


Steps to Complete Loan Process

Complete, print and sign (in ink) each form. Scan (or take a picture with your phone) the form(s) or confirmations and upload through your Verification Connection link in the Financial Aid section of InsideBC. All of the following must be submitted through your Verification Connection.

Loan Request

  1. Print Direct Loan Request and Terms
  2. Read and sign the Bakersfield College Federal Direct Loan Request and Terms
  3. Scan (or take picture with your phone) the signed Federal Direct Loan Request Terms.
  4. Submit your document through your Verification Connection

Entrance Counseling or Financial Awareness Counseling

New Borrowers with Bakersfield College

MANDATORY

  1. ➠ Complete Loan Entrance Counseling
  2. Use your Federal Student Aid (FSA) ID to log in
  3. Print and scan, save as PDF, or take a picture with your phone of the confirmation that you completed the Loan Entrance Counseling
  4. Submit confirmation through your Verification Connection.

Renewal borrowers with Bakersfield College

MANDATORY

  1. ➠ Complete Financial Awareness Counseling
  2. Use your Federal Student Aid (FSA) ID to log in
  3. Print and scan, save as PDF, or take a picture with your phone of the confirmation that you completed the Financial Awareness Counseling
  4. Submit confirmation through your Verification Connection.

Master Promissory Note (MPN)

New Borrowers

  1. ➠ Complete a Master Promissory Note (MPN)
  2. Use your Federal Student Aid (FSA) ID to log in
  3. Print and scan, save as PDF, or take a picture with your phone of the confirmation that you completed the MPN
  4. Submit confirmation through your Verification Connection.

Renewal borrowers

  1. ➠ Update your Master Promissory Note (MPN)
  2. Use your Federal Student Aid (FSA) ID to log in
  3. Print and scan, save as PDF, or take a picture with your phone of the confirmation that you completed the MPN
  4. Submit confirmation through your Verification Connection.

Financial Aid TV (FATV)

New Borrowers

Complete the following sessions and submit confirmation through Verification Connection.

  1. Student Loan Basics
  2. Money Management

Renewal Borrowers

Complete the following session and submit confirmation through Verification Connection.

  1. Fundamental on Student Loans and Repayment

➠ FATV requirement

Additional References

New and Renewal Borrowers

ALL borrowers must provide two (2) additional references, preferably family members, on the Direct Loan Reference Sheet. Do not list references used on the Master Promissory Note (MPN). All references will be verified. If we are unable to verify references, we will not be able to process your Loan Request. Submit confirmation through Verification Connection.

Comprehensive Student Educational Plan (CSEP)

New and Renewal Borrowers

ALL borrowers must upload a student educational plan that reflects their current educational pathway. You can obtain one by either meeting with an Educational Advisor OR Counselor.

Create an Account with Assigned Loan Servicer

Renewal borrowers ONLY

Create account with the MOST RECENT loan servicer and provide proof of established account.

  1. Log in to the National Student Loan Data System (NSLDS)
  2. Click "Authorization" to see your assigned loan servicer.
  3. Go to your assigned loan servicer’s website and establish an account with them
  4. Submit a scan, picture or PDF of a confirmation page showing you have successfully established an account with your loan servicer through your Verification Connection. If you have multiple servicers, submit a confirmation for each loan servicer.

Upload Government Issued Photo ID

BC Student ID is not acceptable. Examples of a government issued photo ID are: Driver's license, state issued ID, or United States passport.

Processing may take up to 3‐4 weeks (may change during peak times).

Keep in Mind: You are required to complete Exit Counseling once you graduate, leave school, or drop below halftime enrollment. Exit Counseling provides important information you will need as you prepare to repay your federal student loan(s).

Student Loan Application Deadlines

Loan Enrollment Period: Application Deadline:
Fall 2019 ONLY/Fall 2019 and Spring 2020 November 4, 2019
Spring 2020 ONLY April 6, 2020
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