Federal Loans

FEDERAL STUDENT LOANS:
Eligible Programs:  
Practical Nursing, LPN-RN Transition, Medical Assisting, Police Academy
 
 A Federal Direct Loan is money borrowed from the U.S. Department of Education that must be repaid with interest.  These loans may be a way to gap the difference between the funds you have and the amount you need. Student loan recipients must complete Entrance Counseling, a Master Promissory Note (MPN) and Annual Student Acknowledgement prior to disbursement of the loan.  If the parent of a dependent student is borrowing loan funds on behalf of the student, the parent must apply for a PLUS Loan and complete a loan agreement.  The information provided below is for an undergraduate student.

Apply by completing a Free Application for Federal Student Aid (FAFSA) at Studentaid.gov. For assistance completing the FAFSA, call 419-238-5411, ext. 2110 to schedule an appointment with our Financial Aid Coordinator.

Vantage Career Center's Federal School Code is 030956.   
 
Direct Subsidized Loan  - This is a need based loan (cost of attendance minus EFC).  The government usually pays your interest while you are enrolled at least half-time in school plus the grace period or deferment periods.   After you graduate, leave school, or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment.  
 
Direct Unsubsidized Loan -  Student does not have to demonstrate financial need.  Maximum loan amounts based on dependency status and program length but cannot exceed cost of attendance.  Interest begins accruing on this type of loan immediately when disbursed.  After you graduate, leave school, or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment. 
    
Direct PLUS Loan -  The parent(s) of a dependent student may borrow a Federal PLUS Loan provided the student is otherwise eligible for aid.  A parent may receive a PLUS Loan only to pay for the educational costs of a dependent undergraduate student who meets the eligible student definition.  A parent must also meet the same citizenship and residency requirements as a student.  Also, a parent who owes a refund on an SFA grant or is in default on an SFA Loan is ineligible for a PLUS Loan.  A parent with an adverse credit history is prohibited from obtaining a PLUS Loan.  A dependent student may borrow under the Unsubsidized Direct Loan program if the parent(s) are denied to borrow due to credit history. 
 
To receive a Federal PLUS Loan, a parent must complete a PLUS Loan application on-line at studentaid.gov using their own User ID and Password.  PLUS Loans are unsubsidized so parent borrowers are responsible for accruing interest from the date of loan origination.   Payments begin when the loan is fully paid out, but your loan can be placed into deferment while you are in school at least half-time and for an additional 6 months after you graduate or drop below half-time status.
Repayment Estimator Tool  -  allows borrowers to view repayment estimates based on their actual loan information.  Borrowers can also explore repayment options available based on their income.  

Additional Federal Aid Information

The U.S. Department of Education has created a website to help you understand aid, apply for aid, complete the aid process, and manage loans.  Visit Studentaid.gov for a wide range of information regarding Federal Student Aid.

Federal regulations require all loan recipients to complete these four things:  
Prior to the starting:
At the time of graduation or when a student leaves school:

Contact us

Kendra Sentelik
Kendra Sentelik
Financial Aid Coordinator/ Accreditation Liaison Officer/ VA School Certifying Official
Office: 419-238-5411 x 2110
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