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Student Loans

The U.S. Department of Education is the lender for all Federal Direct Loans. 

• You must have an award letter. 
• You must be enrolled at least half-time (6 credits) each term to be eligible for loans.
• Loan eligibility for Federal Direct loans is determined by a number of contributing factors.  The following information details the maximum eligibility per academic year as allowed by the federal government.  
    ~ Grade level one is a first year undergraduate student (earned credits 0 to 29)
     Dependent student - Maximum eligibility $5,500 (with subsidized loan maximum of $3,500)
     Independent student - Maximum eligibility $9,500 (with subsidized loan maximum of $3,500)
    ~ Grade level two is a second year undergraduate student (earned credits 30 or more) currently accepted in a two year program/degree
     Dependent student - Maximum eligibility $6,500 (with subsidized loan maximum of $4,500)
     Independent student - Maximum eligibility of $10,500 (with subsidized loan maximum of $4,500)    
    ~ Dependent students may have additional unsubsidized loan eligibility of up to $4,000 if their parent is denied a PLUS loan. 
• Proration of a loan may be required if the number of credits needed to complete your degree, diploma or certificate is less than an academic year.  Proration reduces the amount of loan eligibility you will have.

CLC has an agreement to submit all loan information to the National Student Loan Data System (NSLDS).

Federal Direct Loans:  
• There are two categories, subsidized and unsubsidized. Subsidized means that the federal government will pay the interest on your loans while you are in school.  Unsubsidized means you are responsible for the interest. 
•As of July 1, 2013, there are some new limitations on the subsidized loan. Click this link (pdf) to find out more.
•The applying for your loan(s) begins with you logging into your student E-Services account with your Star ID and password, clicking on "Financial Aid" and then clicking on "Loans".  There you will be able to apply for loan funds, check on the pre-requirements of Loan Entrance Counseling and Master Promissory Note (MPN) completion, as well as check on the status of your loan and loan amounts. 
• All of the necessary parts of the loan process will be available to you using the E-Services.  Click for student's rights and responsibilities (pdf)   
Apply Now


Federal Direct PLUS (Parent Loan for Undergraduate Student)
The PLUS has a fixed interest rate of 7.21% from July 1, 2014 to June 30, 2015.  Parent may borrow up to the full cost of the student's education less any other financial aid the student receives.  Repayment begins 60 days after the full amount of loan funds are disbursed and in most cases is expected to be repaid in 10 years.  The Department of Education will answer repayment questions.  A student, whose parent has been denied a PLUS, may have additional unsubsidized Federal Direct Loan eligibility made available via their E-Services.
Your PLUS Master Promissory Note (MPN) approval or denial notification is electronically sent to the CLC Financial Aid Office.  At E-Services under "Bills and Payments" your child will be able to see when the PLUS loan funds have applied to his or her account.

• For a credit check only, complete step A (below).
• Apply for the PLUS loan by completing both steps A and B.

A.  The 2014-15 Federal Direct PLUS Loan Request form (pdf) must be completed in order to request PLUS loan funds or a credit check and submitted to the CLC Financial Aid Office.  Please make sure you are filling out the request form for the appropriate school year.

B.  A Federal Direct PLUS Loan MPN (Master Promissory Note) is also required if a parent actually wants to apply for PLUS loan funds. You will need to sign in using your social security number, first two letters of your last name, date of birth and Federal Student Aid PIN. (The same four digit number you used to sign your child's FAFSA.  It is available at  After signing in be sure to click on "Start PLUS Application Process Apply Now

Alternative or Private Loans    
In addition to federal student loan programs, many banks or credit unions provide educational loan options for students and/or parents.  These options are commonly referred to as private or alternative loans and are for educational expenses.  We recommend you use the federal student loan programs first and then alternative or private loan programs only as a last resort.  Central Lakes College does not endorse any one particular lender.  We do provide the service of FASTChoice to assist with education and comparison of lender loan options such as interest rates, fees, repayment terms and application instructions.  You will be provided a historical list of lenders from which CLC students have borrowed in the past three years.  Please note that should you decide to borrow under the private loan program, you may select any lender of your choosing and are not required to select from the historical list.
Apply Now

Loan Counseling
Use these links if you have been instructed by a member of the CLC Financial Aid Office or a letter you may have received.

• Federal Stafford and Direct Loans
• Federal Perkins Loans
Perkins Loan Entrance or Exit 


This information will assist students with phone numbers and web addresses in connection to their lenders, guarantee agencies or the 
Department of Education:  To view any financial aid you may have received including student loans. To view information about your direct loans or to update personal information.  To view some or all of your student loans with Great Lakes Higher Education.
800.236.4300  To view some or all of your student loans with PHEAA.

Direct Loan Servicers
Use this link to connect to a list of the current servicers.

Student Loan Guarantors
FirstMark Services (SELF Loan)

FSA Student Loan Ombudsman Group   
  When you have exhausted all other avenues of resolution with regards to disputes or issues with your Federal student loans, the Ombudsman Group may be able to help.  You can find information on the internet at or
  Postal Mail: 
  U.S. Department of Education
  FSA Ombudsman Group
  830 First Street, N.E., Mail Stop 5144
  Washington, DC  20202-5144
  Phone:  1-877-557-2575
  Fax:  202-275-0549