First Time BCC Borrowers

Federal Student Aid Notice
Time Limitation on Direct Subsidized Loan Eligibility for
First-Time Borrowers on or after July 1, 2013
To view the fact sheet for more information, click here.

 

If you are a first time borrower and want to receive a Federal Direct Loan at Burlington County College you must complete the following 3 steps:

 

1. Complete the FAFSA 

Complete the Free Application for Federal Student Aid (FAFSA) and list Burlington County College to receive the results.

BCCs Federal School Code for use on the FAFSA : 007730

The FAFSA can be completed online here: http://www.fafsa.ed.gov/

 

2. Complete Online Subsidized/Unsubsidized Direct Loan (MPN) Master Promissory Note

The MPN can be completed online here: https://studentloans.gov/

You will be required to log in with your FAFSA PIN number.

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). Unless your school does not allow more than one loan to be made under the same MPN, you can borrow additional Direct Loans on a single MPN for up to 10 years.

 

3. Complete Online Direct Loan Entrance Counseling

The Entrance Counseling can be completed online here: https://studentloans.gov/  

During the session you will learn of your rights and responsibilities as a borrower in the federal loan programs.
*This step is required for all first-time Loan borrowers by the U.S. Department of Education. 

An electronic confirmation will be transmitted to the Financial Aid Office.

Should you have any difficulties with these steps, you can reach Direct Loan Servicing at (800) 848-0979.  Or, as always, you may contact our office at (609)894-9311 extension 1575.

*It is important that you follow these steps as soon as possible in order for your loan eligibility to be processed. 

Students that follow the above steps and as soon as BCC has been provided record of MPN completion and Entrance Counseling Completion (for first time borrowers), loan eligibility will be posted to your account for the Base Amount (see below for description).

 

Annual Limits

Maximum amounts for each year of study

Grade Level

 

Base Amount*

 Additional Unsubsidized

Dependent Undergraduates

 

Freshmen

$3,500

$2,000

 

Sophomore

$4,500

$2,000

 

 

 

 

Independent undergraduates**

 

Freshmen

$3,500

$6,000

 

Sophomore

$4,500

$6,000

       

*If the borrower does not meet financial need for a subsidized Stafford Loan using the expected family contribution (EFC), or has reached the aggregate limit in subsidized Stafford loans, the borrower may receive this entire loan amount in unsubsidized Stafford loans provided the borrower has remaining eligibility.

 
       

**Includes dependent students whose parents are unable to borrow PLUS loans.