Federal Stafford Direct Loans

Almost all students qualify for loans, no matter how high their family income may be. The U.S. Department of Education provides the low-interest loans, which are called federal Direct Loans. Students usually qualify for a loan if enrolled for at least six credit hours in a program that’s eligible for financial aid and meet WGTC Satisfactory Academic Progress (SAP).

Taking out a loan is a serious commitment. Students must sign a legal contract called the Master Promissory Note that gives certain rights and responsibilities. Please review the Direct Loan Borrower Rights and Responsibilities Statement for more information regarding Borrower’s Right and Responsibilities. 

Current information regarding student loans may be found on the Financial Aid webpage.

Track Your Loan

Current loans may be tracked at the National Student Loan Data System (NSLDS) at https://www.nslds.ed.gov/nslds_SA/. All federal loan information is reported to NSLDS, where students, loan servicers, and other users can access it.

Federal Stafford Direct Loans

Direct Loans for students to help pay for your education. If you are interested in a student loan you must complete:

  • FAFSA Application
  • Loan Request Form
  • Master Promissory Application
  • Entrance Counseling
  • Exit Counseling

  • What You Can Use the Money For

    If you receive a federal loan, you can only use it to pay for educational expenses at WGTC. These include:

  • Tuition and fees
  • Books, supplies, and equipment
  • The rental or purchase of a personal computer
  • Room and board
  • Dependent child care expenses
  • Transportation
  • Miscellaneous expenses

  • Federal Loans vs. Private Loans

    Federal loans are a better deal than loans from private lenders. Federal student loans generally have lower interest rates that are fixed, generous repayment plans, no repayment penalties, and no credit checks (except for PLUS Loans).

    Track Your Loan

    You can track your loan at the National Student Loan Data System. All of your federal loan information is reported to NSLDS, where you, your loan servicer, and other authorized users can access it.

    For More Information

    The federal government offers lots of detailed information about loans at StudentLoans.gov. Two publications are especially useful:

  • Your Federal Student Loans: Learn the Basics and Manage Your Debt
  • Entrance Counseling Guide For Direct Loan Borrowers
  • Financial Aid Code of Conduct

  • Click Here for Frequently Asked QuestionsPDF

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