Loan funds will credit your billing account after the 30th day of the semester. Because loans must paid in two equal disbursements, funds will credit in: Loan 1st Disbursement 2nd Disbursement Full-Year Late September Late February Single-Semester (Fall) Late September Late October Single-Semester (Spring) Late February Late March Single-Semester (Summer) Early July Mid July NOTE: […]
For general student loan information, please refer to Federal Student Aid: Student Loans.
In order to have your loan application processed by the payment deadline, submit your loan application by: Fall semester: July 1 Spring semester: December 1 Summer semester: May 1
June 1 – October 31: Full Year or Fall Only November 1 – March 31: Spring Only April 1 – June 15: Summer Only* *There are no summer loans for students enrolled in only July-start courses.
If you don’t make your student loan payment or make your payment late, your loan may eventually go into default. If you default on your student loan, that status will be reported to credit bureaus, and your credit rating and future borrowing ability will be damaged. In addition, legal action can be taken to require […]
Repayment begins 6 months after graduating, withdrawing, or dropping to less than 6 credit hours. Additional information is available through Federal Student Aid: Understanding Repayment and Federal Student Aid: How to Repay Your Loans.
A loan servicer is a company that handles the billing and other services on your federal student loan. The loan servicer will work with you on repayment plans and loan consolidation and will assist you with other tasks related to your federal student loan. It is important to maintain contact with your loan servicer. If […]
Loan borrowers are required to participate in Federal Loan Exit Counseling after graduating, withdrawing, or dropping to less than 6 credit hours, even if they intend transfer to another institution. Black Hawk College will mail a letter with Exit Counseling information.
You must cancel any pending loans at Black Hawk College and contact your new college to determine what requirements you need to complete.
Students should ALWAYS contact the Financial Aid Office BEFORE changing their schedule (adding or dropping classes) to determine how changes will impact their costs and financial aid. Financial aid is based on attendance for the entire semester. If you drop ALL of your classes before 60% of the semester is complete, federal regulations require schools […]