Direct Loans

Types of Direct Loans

Subsidized

Requires financial need, as determined by federal regulations; No interest is charged while a student is in school at least half-time, during the grace period, and during deferment periods. Payment due 6 months after graduation or dropping below half-time enrollment.

Unsubsidized

Not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods. Payment due 6 months after graduation or dropping below half-time enrollment.

Parent PLUS

Must be the parent of a dependent student enrolled at least half-time; credit check is required; not based on financial need; interest charged during all periods, even during the time a student is in school and during grace and deferment periods. Payment due 60 days after final disbursement (may be deferred while student is enrolled at least half-time).

All the above loan types have loan fees that are a percentage of the total loan amount. See Federal Student Aid's current loan fees.

Note: During your Online sessions, you will observe the following:

Information disclosed to students or parents of students who enter into an agreement regarding a Title IV, HEA loan that the loan will be submitted to NSLDS and accessible by authorized agencies, lenders and institutions [HEOA 489 amended HEA Sec. 485B]

Videos about Direct Loans

The loan process has gone paperless! You will now be completing your documents through Verification Connection after completing your SCHEDULED MANDATORY workshop.

Loan Request Form (Under Construction)

Eligibility Requirements

1. Your 2021-22 Financial Aid Awards must be finalized in order to apply for a Federal Direct Loan.
2. You must be enrolled in at least 6 degree applicable units (excluding remedial units) in an eligible program. Wait listed courses do not count.
3. Porterville College must be declared as your home school.
4. You must maintain Satisfactory Academic Progress as outlined in the Terms of Agreement for Porterville College.
5. You must have a declared major and educational goal and be following a Comprehensive Student Education Plan (CSEP). All loan borrowers need to acquire a CSEP.
6. Students on Financial Aid Suspension are ineligible for Direct Loans.

Right to Cancel

Any time Porterville College credits a student account with Title IV loan funds, a notification is sent to the student, or parent for a Parent PLUS Loan, of the anticipated date and amount of the disbursement, the student’s or parent’s right to cancel within 14 days all or a portion of the loan, and the procedures and time by which the student or parent must notify the institution that he or she wishes to cancel the loan or loan disbursement.

Please contact the Financial Aid Office to obtain a Right to Cancel form.

Get Current Interest Rates

You MUST have a valid FAFSA application for the year you intend to borrow loans. Dream Act applicants are not eligible for the Direct Loan program.

Exit Counseling

You are required to complete Exit Counseling once you graduate, leave school, or drop below half-time enrollment. Exit Counseling provides important information you will need as you prepare to repay your federal student loan(s).

Please follow the steps below:

Step 1: Have the following information available:

• FSA ID Username or E-mail Address
• FSA ID Password
• School code 00126800

If you have misplaced your FSA ID or password, you must click on Login and follow the Forgot ID or Password indicator.

Step 2: Log in to the studentloans.gov website Exit Counseling

This website offers loan verification and exit counseling. Once logged in, you will select Complete Counseling, which will allow you to select the Exit Counseling requirement.

Please feel free to contact the Office of Financial Aid for any assistance with your Exit Counseling:

Contact Us

• Phone: 559.791.2301
• Email: pc_faid@portervillecollege.edu

Hours of Operation

• Monday – Thursday: 7:30 a.m. – 5:30 p.m.
• Friday: Closed.
• Saturday and Sunday: Closed

Virtual Hours

Monday-Thursday 9:00am - 12:00pm:

https://cccconfer.zoom.us/j/97845398512

Monday-Thursday 2:00pm - 5:00pm:

https://cccconfer.zoom.us/j/95753385018

Additional Information

• Deferment and Forbearance Information. Please contact the Financial Aid Office for assistance with accessing or completing this form.
• Right to Cancel Information and form. Please contact the Financial Aid Office for assistance with accessing or completing this form.
• Steps to Request a Loan Deferment. Please contact the Financial Aid Office for assistance with accessing or completing this form.
• Federal Student Loans Information

Avoid defaulting on your student loan!

Don't Lose Your Tax Return!

Are you past due on your federal student loans? Call today to get on the right track-with your federal student loans at 1-844-ON-TRACK or visit ECMC Solutions. Our services are provided to you at no cost by your former school!

Did you know?

The government can take your tax return if you default on your federal student loan.

ECMC Solutions Hours M-Thu: 7 a.m.-8 p.m. CT; F: 7 a.m.-5 p.m. CT; S: 8:30 a.m.-12:30 p.m. CT

There are options that may help you avoid loan default. Porterville College has teamed up with E.C.M.C. Solutions to provide student loan borrowers a resource to help you manage your educational loans. This service is FREE of charge and you can contact them regarding loan repayment advice, repayment plan options, forbearances and deferments, and loan forgiveness. Contact E.C.M.C. Solutions by phone at 1-877-331-3262 or visit E.C.M.C. Solutions to connect through email or web chat with one of their counselors.

The loan process has gone paperless! You will now be completing your documents through Verification Connection after completing your SCHEDULED MANDATORY workshop. Please complete the Loan Request Form (contact the Financial Aid Office for assistance with accessing or completing this form).

Are you past due on your federal student loans? Call today to get on the right track-with your federal student loans at 1-844-ON-TRACK or visit ECMC Solutions. Our services are proviced to your at no cost by your former school!