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Student Loans

 The U.S. Department of Education is the lender for all Federal 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  subsidized and unsubsidized loans is determined by dependency status , grade level for the current enrolled program/degree and the Cost of Attendance.  The following information details the maximum amounts available per academic year.  Proration of a loan may be required if the number of credits needed to complete your degree/diploma/certificate is less than an academic year.  Proration reduces the amount of loan eligibility you will have.

    + 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. 


Federal Direct Subsidized and Unsubsidized Loans:  
The Student Loan Acceptance begins with you logging into your student E-Services account with your CLC Student Tech ID, 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.  Use this link for student's rights and responsibilities (pdf)

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Federal Direct PLUS (Parent Loan for Undergraduate Student)
The PLUS has a fixed interest rate of 7.90%.  Parent may borrow up to 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 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. 
If you want to apply for the PLUS loan you need to complete steps A and B.  For a credit check only, complete step A.

     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".

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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.

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Loan Counseling
Do not use these links unless you have specifically been instructed by a member of the CLC Financial Aid Office or a letter you may have received directing you here.

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 information about your direct loans or to update personal information.  To view any financial aid you may have received including student loans.  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.


Student Loan Servicer
PUT loans are Federal Family Education Loan program (FFEL) loans that have been purchased by DOE.  The DOE has purchased many Stafford Student loans that were borrowed through the FFEL program.  These loans will now be serviced by the DOE or a loan servicing agency referred to as the servicer.  Use the information below to make contact and ask questions about your loan(s).

Borrower information service - 1-800-508-1378
Borrower Collections service - 1-866-938-4749 

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






Last Updated: 3/18/14