Student Loans

To receive any type of federal funds (grants and/or loans) you must first complete the Free Application for Federal Student Aid (FAFSA). Federal loans are a type of financial assistance to help a student further their education and MUST BE REPAID. Students have the ability to refuse all or borrow less than the maximum student loan amount allowed.

Federal Direct Subsidized Loans

  • Must be an undergraduate student who has not earned a bachelor’s degree
  • Must be enrolled in at least 6 credits that are financial aid eligible and applicable to your major
  • Low-interest rate
  • Government pays the interest while you are attending college
  • Based on financial need

Federal Direct Unsubsidized Loans

  • Must be enrolled in at least 6 credits that are financial aid eligible and applicable to your major
  • Interest starts accruing as of the day of disbursement
  • May pay for interest while attending school

Entrance Counseling

  • Required for first time loan borrowers
  • Once completed, good for 10 years

Master Promissory Note

  • Required for first time loan borrowers
  • Good for 10 years unless no loan has been certified then good for 1 year

Federal Direct Parent PLUS Loan

  1. Parents of a dependent undergraduate student may apply to help with the student’s educational cost
  2. A parent must fill out the Federal Direct PLUS Loan application form and credit check.
  3. Parent Plus Loan Application Instructions
  4. Parent must meet the general eligibility requirement for federal student aid as well as meet credit criteria for obtaining the loan
  5. Student must be enrolled in at least 6 credits in a financial aid eligible program
  6. Total amount cannot exceed the schools budget
  7. If the parent’s credit is approved and the applicant wants to accept the PLUS loan, the parent must also complete the master promissory note online at before funds can be disbursed
  8. If the parent is denied based on credit criteria they will be notified via postal mail and the student should contact the financial aid office regarding additional unsubsidized loan eligibility

Private Education Loan

Exit Counseling

  • Required for borrowers who graduates, drops below 6 credits, or leaves school

Student Loan Cohort Default Rates

  • National Student Loan Cohort Default Rate
    • To find Northland Community and Technical College’s student loan cohort default rate, click on “GO” by “Search the Cohort Default Rate Database”
    • Then enter “002385” for OPE-ID and “Search”
    • Click on the hyperlink for “Northland Community and Technical College” and view Northland’s CDR for the last 3 years
  • Northland Cohort Default Rates