Applying for Loans
Stafford Loan (subsidized and unsubsidized)Every student, each year,
must complete TWO steps to apply for a Stafford Loan:
- Entrance Counseling
- Master Promissory Note (MPN)
You will need the following
items in order to complete your loan application:
- Official Award Notice
- Federal PIN
- Driver's license number
- Addresses and phone numbers of two references
(references cannot be at the same address)
| If you need help applying for Stafford loans you are welcome to come to one of the loan sessions offered during orientation on August 25. Bring the items listed above and there will be Financial Aid staff available to help. Sessions will be held in Donovan 115 from 2pm-3pm or from 3pm-4pm on August 25. |
NOTE: If you previous lender was Academic Funding Group (AFG), Citibank, TCF, or Student Loan Xpress you must select a new lender. These lenders are no longer participating in the Federal Stafford Loan program with Itasca Community College.
This loan is only available to students who have been awarded a Perkins Loan on their Official Award Notice. If you have been awarded a Perkins Loan, you will need to complete THREE steps to apply for a Perkins Loan:
- Entrance Counseling - complete online
- Master Promissory Note (MPN) - complete in the Financial Aid Office starting in July and through the first week of classes
- Rights and Responsibilities Statement - complete in the Financial Aid Office starting in July and through the first week of classes
You must complete Perkins Entrance Counseling prior to signing your MPN and Rights and Responsibilities Statement. You will need the following
three items in order to complete your loan application:
- Official Award Notice
- Driver's license number
- Addresses and phone numbers of two references
(references cannot be at the same address)
DO NOT COMPLETE PERKINS ENTRANCE COUNSELING IF YOU HAVE NOT BEEN AWARDED A PERKINS LOAN ON YOUR OFFICIAL AWARD NOTICE!!!
A PLUS loan is taken out in
your parent's name and used for your educational expenses. Your parent must have an acceptable credit
history and complete a Master Promissory Note (MPN).
If your parent's credit is
denied, you may be eligible for an additional unsubsidized Stafford loan. Check with the financial aid office for more
information.
The SELF loan may be an
additional funding source for you if you have educational expenses which exceed
your other sources of federal or state aid.
To apply for the SELF loan:
- Complete SELF
Online Counseling
- You (student borrower) must start a SELF Online
Application
- Once you have started the application, your co-signer will receive an email requesting them to co-sign for this loan. The email will include an application reference ID, which will be needed when they login as a co-signer.
- You and your co-signer may choose to sign the loan application electronically or physically. If you choose to sign it physically, your co-signer must also sign it physically.
- If your co-signer chooses to physically sign, then they must print the promissory note. The promissory not must be signed in front of a notary.
- If you sign electronically, print a copy of the promissory note for your records, or if you sign it physically, mail the
promissory note to the Minnesota Office of Higher Education.
This type of loan should be
considered ONLY after the other loan options listed on this page have
been exhausted. Be sure to contact the
lender for all eligibility requirements.
Alternative loans require school certification.
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