Federal Student Loan Information
Students interested in participating in the William D. Ford Federal Direct Loan Program must complete the FAFSA.In addition to completing the FAFSA, a student must complete a Master Promissory Note (MPN) and complete an Entrance Loan Counseling Session required by the Department of Education.
Direct Loan Processing Procedures:
1. Complete a Free Application for Federal Student Aid listing BHSLR as a school choice. School Code is 031052. Make note of your PIN as it will be needed to complete steps 3 and 4.
2. Upon completion of the students aid file and determination of student eligibility, an award notification letter is issued to the student. The copy of the letter must be returned to the BHSLR Financial Aid Office indicating the following:
a.Intent to accept or decline the loan as awarded
b.Intent to reduce loan amount as awarded. (optional)
3. Complete the Direct Student Loan (Stafford) Entrance Counseling at www.studentloans.gov if you are a first time borrower at BHSLR. You will utilize the PIN you used to sign your FAFSA. The BHSLR Financial Aid Office will receive confirmation of completion.
4. Complete the Master Promissory Note at www.studentloans.gov. You will utilize the PIN you used to sign your FAFSA. The BHSLR Financial Aid Office will receive confirmation of your completion.
5. Once BHSLR receives your completed MPN and notice of completed entrance loan counseling, loan funds are transmitted to your student account on the date set by BHSLR according to your loan period and in accordance with federal regulations.
Direct Loan Entrance Counseling
This process is required for all first time borrowers at BHSLR. Loan counseling ensures the student understands his/her rights and responsibilities of student loan borrowing.
You will be required to sign in to the counseling with the PIN you used to sign your FAFSA. If you do not remember your PIN, click on the PIN site (www.pin.ed.gov) to retrieve your PIN or request a duplicate.
When the Entrance Counseling is completed successfully, confirmation is sent to the BHSLR Financial Aid Office from the Department of Education. Click on the link below to begin your Direct Loan Entrance Counseling.
www.studentloans.gov
Direct Loan Master Promissory Note
Steps to Completing your Master Promissory Note:
1. Locate your PIN. To sign in you will need the PIN you used to sign your FAFSA. If you do not remember your PIN, click on the PIN site (www.pin.ed.gov) to retrieve your PIN or request a duplicate.
2. Access the following site: www.studentloans.gov
3. Click on Sign Master Promissory Note
4. Click on Subsidized/Unsubsidized
5. Complete ALL required fields and submit
Direct Loan for Parents (dependent students only)
The Direct Parent Loan for Undergraduate Students (PLUS) is a loan that a parent borrows to help their child pay for educational expenses. The parent borrower must have acceptable credit. Students whose parent has been denied a PLUS may be eligible to receive additional Unsubsidized Loan funds.
1. The student and parent must utilize the PIN used to sign the students FAFSA to sign in and begin the PLUS process. If you do not remember your PIN, click on the PIN site (www.pin.ed.gov) to retrieve your PIN or request a duplicate.
2. Complete the online Parent PLUS loan application. Click on the following link: www.studentloans.gov. Once there, log in and complete the PLUS Request Process and choose the option Parent PLUS.
3. Complete the Master Promissory Note. Click on the following link: www.studentloans.gov. Once there, complete the Master Promissory Note and choose the option labeled Parent PLUS.
4. Complete the PLUS Request for Loan Certification and submit to the BHSLR Financial Aid Office. This form must be returned to the BHSLR Financial Aid Office for your loan to be certified.
Loan Reminder and Limits
First year, first time borrowers will not have funds disbursed to BHSLR until 30 days after classes begin.
Every loan must be delivered in two equal disbursements. The second disbursement must be delivered after the midpoint of the loan period. Borrowers typically receive one disbursement to coincide with fall and one to coincide with spring. Students enrolled for one semester only will receive one disbursement to coincide with the beginning of the semester and one disbursement following the midpoint of the semester.
Students must be enrolled in at least six (6) credit hours to be eligible for a student loan. Classes that you have successfully completed (a grade of C or better) will not be considered in determining your enrollment status for federal financial aid which includes student loans.
Loan limits for an academic year, per program:
Program |
Dependent Students |
Independent Students |
PN
RN Traditional Year 1
RN Express Year 1
Medical Technology
Nuclear Medicine Technology
Histotechnology
Sleep Technology
Surgical Technology
Radiography Year 1 |
$5,500
No more than $3,500 may be subsidized |
$9,500
No more than $3,500 may be subsidized |
RN Traditional Year 2
RN Express Year 2
Radiography Year 2 |
$6,500
No more than $4,500 may be subsidized |
$10,500
No more than $4,500 may be subsidized |
RN Traditional Year 3
RN Accelerated Semester 1 |
$7,500
No more than $5,500 may be subsidized |
$12,500
No more than $5,500 may be subsidized |
Fall RN Accelerated Graduates |
$3,292 Maximum
No more than $2,414 may be subsidized |
$5,487 Maximum
All may be subsidized |
Fall PN Graduates |
$3,330 Maximum
No more than $2,442 may be subsidized |
$5,550 Maximum
No more than $2,442 may be subsidized |
Locating your student loans
Are you not sure who holds or collects on your federal student loans?
Visit the National Student Loan Database System and review your student loan history and locate your loan holders.
www.nslds.ed.gov