Student Loans

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Once Washington State receives your FAFSA, your eligibility for student loans will be determined and, if eligible, placed as pending on your financial aid account.

Direct Loans are government loans. They are flexible because there are many repayment options. Students do not begin repayment on these loans until six months after they graduate, withdraw or drop below half time. This six month period is referred to as a grace period. There are two types of Direct Loans students are awarded:

Direct Subsidized– The Stafford Subsidized Loan is a need based loan. It does not accrue interest while the student is enrolled at least half time in school, in deferment or while the student is in the grace period.

Direct Unsubsidized– The Stafford Unsubsidized Loan is a non-need based loan. Unlike the subsidized loan, the unsubsidized loan accrues interest for the life of the loan.

Direct Loan Deadlines:

In order for student loans to be disbursed students must complete the following by the Direct Loan Deadline:

  1. Accept or Reject your loans- Log into your My WSCC account, navigate to WebAdvisor, under the Financial Aid Section accept or reject your loan(s).

  2. Entrance Counseling- Complete Entrance Counseling by visiting studentloans.gov.

  3. Master Promissory Note (MPN)- Complete your MPN by visiting studentloans.gov. You will use the same student PIN number as you did to sign your FAFSA.

The Department of Education will not release funds to the school until these requirements are fulfilled.

TermDirect Loan Deadline
Spring 2015 March 15, 2015 at 4:30pm
Summer 2015 June 15, 2015 at 4:30pm
Fall 2015 October 15, 2015 at 4:30pm
Spring 2016 March 15, 2015 at 4:30pm

Important Loan Information

Interest Rates for Direct Loans First Disbursed on or After July 1, 2013
Loan Type Borrower Type Loans first disbursed on or after 7/1/13 and before 7/1/14 Loans first disbursed on or after 7/1/14 and before 7/1/15
Direct Subsidized Loans Undergraduate 3.86% 4.66%
Direct Unsubsidized Loans Undergraduate 3.86% 4.66%

Data provided by studentaid.ed.gov.

The following chart shows the annual and aggregate limits for subsidized and unsubsidized loans.

YearDependent Students (except students whose parents are unable to obtain PLUS Loans)Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)
First-Year Undergraduate Annual Loan Limit $5,500-No more than $3,500 of this amount may be in subsidized loans. $9,500-No more than $3,500 of this amount may be in subsidized loans.
Second-Year Undergraduate Annual Loan Limit $6,500-No more than $4,500 of this amount may be in subsidized loans. $10,500-No more than $4,500 of this amount may be in subsidized loans.
Subsidized and Unsubsidized Aggregate Loan Limit $31,000-No more than $23,000 of this amount may be in subsidized loans.

$57,500 for undergraduates-No more than $23,000 of this amount may be in subsidized loans.

$138,500 for graduate or professional students-No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.

Data provided by studentaid.ed.gov.

Disbursement Dates - (Dates federal student aid funds were credited to a student's account at the school)

Term1st Disbursement2nd Disbursement
Fall 2014 Starting 9/16/14 Starting 11/11/14
F2 Only Starting 11/11/14  
Spring 2015 Starting 2/20/15 Starting 4/8/15
Summer 2015 Starting 7/1/15  

Exit Counseling

Once a student withdraws, graduates, or drops below half time, he or she must complete Exit Counseling for all Direct Loans at studentloans.gov.

For Student Loan Frequently Asked Questions click here!


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