DIRECT LOAN PROCESS AND REQUIREMENTS

How to Request for a Federal Student Direct Loan

• Login to piercecollege.studentforms.com and follow the steps outlined below:
  • Once logged in, click on the Request button on the top right-hand corner of the page.
  • A pop-up window will appear. Click on the "+" sign for the 2023-2024 Academic Year for the "Student Loan Data Form - Pierce College 1".
  • You may see multiple rows and columns. Make sure you are in the 2023-2024 column and the row that indicate "Student Loan Data Form - Pierce College 1".
  • Once you click on the "+" sign, the screen will display for you to "Explain your reason for the request". Provide your explanation and hit the "Submit" button. After you submit, you will see that your request was submitted.
  • From your CampusLogic account, a new tab will appear that say "2023-2024 Other Documents". Here is where the Loan Data Form is located. Click on the dropdown arrow where it indicates "Additional Info: Student Loan Data Form - Pierce College 1".
  • Now the page will display the documents you need to complete.
    • Complete the Student Loan Data Form
    • Then click on "Add Pages" to upload the following:
      • Upload your unexpired government issued photo identification
      • Upload your "Loan Entrance Counseling" confirmation page .
    • Once all documents are uploaded, the "Submit" button will turn red in color and hit "Submit".

Federal Regulations for New First-Time Borrower

If a student is enrolled in the first year of an undergraduate program of study and has not previously received a Direct Subsidized Loan, a Direct Unsubsidized Loan, a Subsidized or Unsubsidized Federal Stafford Loan, or a Federal Supplemental Loan for Students, we may not disburse the loan proceeds of a Direct Subsidized or Direct Unsubsidized Loan until 30 days after the first day of the student's program of study. [34 CFR 685.303(b)(5)]

New first-time borrowers will receive their first loan disbursements 30 days after the first day of the term.

Dropping Below Half-Time

If you drop below half-time (6 approved units) prior to the scheduled fall term disbursement, the disbursement will be cancelled and loan fund(s) will be returned promptly to the U.S. Department of Education. If you drop below half-time after the scheduled fall disbursement and before the fall term is completed, you will not be eligible for a spring term loan disbursement. In both scenarios you may be eligible for a loan for the spring term only and a new loan must be processed. If you drop below half-time prior to the scheduled spring term disbursement, the disbursement will be cancelled.