New Direct Loans

Students attending Southern West Virginia Community and technical college now have the privilege of participation in the Federal Direct student loan Programs. This program begins fall 2010. To apply for Federal Direct student loan funds, students must have a PIN (Personal Identification number issued through the Department of Education).  This PIN is also used to apply for federal assistance.  Students may apply for a PIN at www.Pin.ed.gov.  remember, student loans must be repaid.  Students must complete FAFSA before applying for loans.

Federal Direct Subsidized loans - students may receive up to $3500 per year, criteria for participation:

• Lender pays interest while students are in college and during grace and deferment periods.
• Must be enrolled at least half-time for college level classes.
• Must be meeting satisfactory standards.
• Must have financial need

Federal Direct Unsubsidized loans- students may receive up to $5500 per year, based on dependency status. Criteria for participation:

• Borrower is responsible for paying interest on the loan while in college and during grace and deferment periods.
• Must be enrolled at least half-time for college level classes.
• Must be meeting satisfactory standards

Direct Federal Parent PLUS Loan (Maximum amount is cost of attendance minus other financial aid received by the student.  Parents must have PIN also.

• For parents of dependenct students
• Borrower is responsible for all interest
• Must be enrolled at least half-time for college level classes
• Must be meeting satisfactory standards
• Must have good credit history