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Eligibility Requirements:
Prior to being considered for a federal student loan, students must complete the Free Application for Federal Student Aid (FAFSA), which is available at www.fafsa.ed.gov. Make sure our Federal School Code (012550) is listed on your FAFSA. You may also pick up the FAFSA in the Financial Aid Office. Student's loan eligibility is determined by the information provided on the FAFSA, the number of units in which the student is enrolled, the length of enrollment period and satisfactory academic progress.
Students must maintain at least six (6) units at Los Angeles Mission College to be considered for a student loan. Units from other colleges may not be combined for loans. Students must have an Award Letter prior to submitting a Federal Stafford Loan Request Form to the Financial Aid Office.
Students who are requesting federal student loans are required to attend a yearly Student Loan Entrance Counseling and take an on-line quiz via EdTest. The Counseling Session is designed to inform students about their rights and responsibilities as a student borrower. Counseling sessions are conducted by various lender representatives and will include a half-hour debt management component. The on-line quiz reinforces the information provided in the in-person Loan Counseling and also provides a summary of the student's outstanding loans.
Deadlines for 2007-2008:
December 7, 2007 - to Request for a Federal Student Loan for Fall 2007
May 16, 2008 - to Request for a Federal Student Loan for Spring 2008
Loan Application Process:
Los Angeles Mission College participates in the in the Web-App process. Web-App allows the borrower to complete and electronically sign the Promissory Note via the internet.
| Step 1: |
All borrowers (you the student) must attend our yearly Student Loan Entrance Counseling and take an on-line quiz via EdTest at www.edfund.org. You need to call the Financial Aid Office at (818) 364-7648 for the Loan Counseling Sessions schedule. |
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| Step 2: |
The borrower completes and returns the Federal Stafford Loan Request Form and the Budget Worksheet to the Financial Aid Office. |
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| Step 3: |
L.A. Mission College sends loan information electronically to the California Student Aid Commission for guarantee. |
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| Step 4: |
NEW Borrowers: Student must electronically sign the Promissory Note.
CONTINUING Borrowers: The previous Promissory Note will be used. If changing lenders, student must electronically sign the Promissory Note.
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| Step 5: |
Lender sends funds and disclosure statement to L.A. Community College District. |
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| Step 6: |
L.A. Mission College releases loan funds to the borrower after all applicable fees are deducted and enrollment status is verified. |
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| Lender List: |
Our goal is to provide the students and parents the choice in selecting lenders that have been carefully evaluated on an objective set criteria. While we choose to provide a set of recommended lenders (Lender List), we want to make it clear that students and parents can choose any participating lender outside of our lender list to fit their needs.
The Lender List will be available during the Loan Entrance Counseling Workshop or you may pick one up at the Financial Aid Office.
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If you have any questions about the application process, please contact the Financial Aid Office at (818) 364-7648 or send us an email at lamcfinaid@lamission.edu
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