Student Loan Repayment Program

This policy addresses the processes performed by the College to assist students and lenders in the loan repayment process.

At the start of each school year:

1. Upon determining student eligibility, the student is given information about the Direct Loan Program. Each student is made aware of maximum loan amounts for the student year through the Financial Aid Award letter.
2. The student receives counseling via an online counseling process on various issues – the difference between subsidized and unsubsidized loans, prepayment options, and the items considered to be educational for use of student loan funds. Additionally, the student is advised of aggregate loan amounts to be borrowed by students. The student is made aware of additional funds available through unsubsidized student loans, PLUS Loans, or alternative loans through local lenders. Online entrance counseling is required for all loan recipients.
3. The school certifies through Common Origination and Disbursement (COD) that the student is eligible for funds. The Financial Aid Office maintains a good working knowledge of COD and uses this system regarding student loan issues.

Upon graduation from the College or Withdrawal:

1. Exit interview counseling information is delivered upon separation from the College. The Financial Aid Office receives electronic notification of completion by the student.
2. Each student is provided with an exit letter prepared by the Financial Aid Office that includes the information to complete exit counseling and the information for the Ombudsman.
3. The College actively participates with all lenders in Skip Tracing, address correction, and monitoring throughout the year. The College maintains copies of all such correspondence.

Approved:______________________________________________________________________
Monika Bissell, DBA
President