Federal Direct Loan Process
An education loan is a form of financial aid that must be repaid, with interest. Student loans are loans taken out in the name of the student. They must be used for educationally related expenses, such as tuition, books, housing, and any other cost associated with going to college.
To apply for a loan, you must complete the steps below. Please select First-Time Borrower if you have not borrowed at Clark College. If you are a returning Clark College borrower, please select Returning Borrower.
For more information about Direct loans, go to the Department of Education’s loan page.
Federal Direct Loan
- First-Time Borrower
- Returning Borrower
- Exit Counseling (Is required when a student graduates, transfers to another college, leaves school or drops below half-time enrollment.)
The 2017-2018 Direct Loan Application will be available by March 31. If you indicated on the Terms and Conditions Form that you are interested in borrowing a loan, you will receive an e-mail notification when the loan application is available.
Direct Loan 2017-2018 deadline dates
To ensure that your loan is processed in time, submit all requested documents by the following dates for the 2017-2018 academic year.
- Summer 2017 – August 22, 2017
- Fall 2017 – December 4, 2017
- Winter 2018 – March 12, 2018
- Spring 2018 – June 11, 2018
Direct Subsidized Loan Time Limitation
If you receive your first federal student loan after June 30, 2013, there is a limit on the maximum period of time that you can receive Direct Subsidized Loans. In general, you may only receive Direct Subsidized Loans up to 150% of the published length of your program. This is called your “maximum eligibility period.”
The Department of Education will determine loan usage and your maximum eligibility based on the length of your program measured in months. For example, a one (1) year certificate is nine (9) months in length and a two (2) year degree is eighteen (18) months in length.
Learn more about the Direct Subsidized Loan time limitation.