STUDENT LOANS
Federal Student Loan Update for 2010-2011 New and Returning Students
Congress recently passed a reconciliation bill that impacts the Federal Student Loan Program. Effective July 1, 2010, Barton College will participate in the Federal Direct Loan Program.The Federal Direct Loan Program allows students and parents to borrow loans directly from the federal government rather than private banks. Visit http://www.studentloans.gov to apply for Stafford or Parent Plus loans. You will need your FAFSA pin number to electronically sign your Master Promissory Note.
Special Note: Returning Students and Parents
The Barton College Office of Financial Aid will provide you with information that will help you in transitioning from the FFELP Lending Program (former lenders) to the Federal Direct Loan Program.
Note: All 2010-2011 student loans will be awarded by the Barton College Office of Financial Aid through the Federal Direct Loan Program effective July 1, 2010.
Alternative Loans
Many types of low-interest loans are available to help you cover the cost of your education. Most of these are offered through the federal government, but others are available through the state of North Carolina and private lenders.NOTE: Please be aware of the origination charges on the Stafford and PLUS loans. The origination fee is deducted from the loan prior to disbursement.
Applying for Stafford Loans
• Visit http://www.simpletuition.com/barton/.• Enter the total amount of your combined Stafford loans for the year (or the portion of that amount that you wish to borrow).
• Select "Borrower Type: Undergraduate Student, Federal Stafford."
• Click on "Find Loans."
• Fill in the information in the white box on the right.
• Click on "View Loans."
• Choose your lender, and click "Apply."
• Complete the entrance counseling session and sign a Master Promissory Note (you will need your FAFSA PIN number to do this).
• You will received a confirmation number after completing your application. Keep this number for you record.
• Visit the website of your lender to check the status of your loan.
