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Accepting/Declining Federal Stafford Loans


Federal Student Loan(s) Requests.

 

If you would like to request a Federal Student Loan(s)or increase a loan that has already been awarded please complete the Federal Student Loan Request Form

 

The Financial Aid Office will review your request and will determine if you are eligible based upon annual and lifetime limits and available financial need. If you are approved, you will receive an email notification regarding your revised financial aid award, then you need to complete the steps below to finalize the loan process.

 

Accept

What to do once you have been offered a Federal Direct Loan(s) and you would like to borrow the loan(s).

Step One: Accepting the Federal Direct Loan(s) offered

  • Login to your MyCCRI account
  • Click on "For Students" tab
  • Click on "Accept or Decline My Loans"
  • Click Award Year
  • Click "Accept Award Offer" tab
  • Scroll down to Award Decision
  • In the drop down box on the side of your offered loan(s), click on "Select Decision" and change to ACCEPT
  • Click on SUBMIT

Step Two: Complete your Master Promissory Note (MPN) for Federal Direct  Loan(s)*

  1. Login to www.studentaid.gov
  2. You will be required to enter your FSA ID Username or E-mail Address and FSA ID Password
  3. You may update your FSA ID @ https://fsaid.ed.gov/npas/index.htm
  4. Select the "Complete Aid Process" tab, and click on "Complete Master Promissory Note"
  5. Click "START" on MPN FOR Subsidized/Unsubsidized Loans
  6. Complete all questions
  7. Click on SUBMIT
  8. You may want to print the confirmation page for your own records

Step Three: Complete Entrance Counseling*

  1. Login to www.studentaid.gov
  2. You will be required to enter your FSA ID Username or E-mail Address and FSA ID Password
  3. You may update your FSA ID @ https://fsaid.ed.gov/npas/index.htm
  4.  Select the "Complete Aid Process" tab, and click on "Complete Entrance Counseling"
  5. Choose "Complete Entrance Counseling"
  6. Click "START" on Entrance Counseling
  7. Complete all questions
  8. Click on SUBMIT
  9. You may want to print the confirmation page for your own records

* These steps are required by all first time borrowers of Federal Direct Loans.

Reminder: Students must be enrolled at least half-time (6 credits) at the time of disbursement to be eligible for a Direct Loan.

Decline

What to do once you have been offered a Federal Direct Loan(s) and you would like to cancel the loan(s).

Step One: Declining the Federal Direct Loan(s) offered

  1. Login to your MyCCRI account
  2. Click on "For Students" tab
  3. Click on "Accept or Decline my Loans"
  4. Click Award Year
  5. Click "Accept Award Offer" tab
  6. Scroll down to Award Decision
  7. In the drop down box on the side of your offered loan(s), click on "Select Decision" and change to DECLINE
  8. Click on SUBMIT