Financial Aid Process
Prior to being considered for a Direct Stafford student loan, students must complete the Free Application for Federal Student Aid (FAFSA), which is available at www.fafsa.gov. Make sure our Federal School Code (012550) is listed on your FAFSA. You may pick up the â€œFAFSA on the Web Worksheetâ€ in the Financial Aid Office.
Eligibility is determined by the information provided on the FAFSA, the length of enrollment period and satisfactory academic progress.
Students who are requesting Direct Stafford student loans are required to complete their Student Loan Entrance Counseling requirement by one of the following:
- Taking an on-line quiz via www.studentloans.gov or
- In-person entrance counseling workshop (Highly recommended for NEW borrowers). Please contact the Financial Aid Office to sign up for a workshop. The Entrance Counseling requirement reinforces the information borrowers need in order to understand their rights and responsibilities related to borrowing a student loan. Students must be enrolled in at least one (1) unit at Los Angeles Mission College, and a total minimum of six (6) units, to be considered for a student loan. Students must have an Award Letter prior to submitting the Student Loan Application Form to the Financial Aid Office.
Deadlines for 2016-2017
- November 23, 2016 - to Request for a Direct Stafford Loan for Fall 2016 only students
- May 19, 2017 - to Request for a Direct Stafford Loan for Spring 2017
NOTE: Students who are planning to attend both fall 2016 & spring 2017 AND have submitted a loan application AFTER Wednesday, November 16, 2016 should expect to be processed in January 2017.
Loan Application Process
Step 1 - All borrowers (you the student) must complete the Student Loan Entrance Counseling requirement by 1) taking an on-line quiz via www.studentloans.gov or 2) In-person entrance counseling workshop (Highly recommended for NEW borrowers).
Step 2 - The borrower completes and returns the Student Loan Application Form and other required documents. Please see the Financial Aid Office for information on other required documents.
Step 3 - NEW DIRECT LOAN Borrowers: Student must electronically sign the Promissory Note at www.studentloans.gov
PREVIOUS DIRECT LOAN Borrowers: The previous Promissory Note can be used.
Step 4 - L.A. Mission College sends loan information electronically to the US Department of Education for guarantee.
Step 5 - US Department of Education sends funds to the L.A. Community College District.
Step 6 â€“ L.A. Mission College releases loan funds to the borrower via the BankMobile debit card or Electronic Fund Transfer (EFT), if this option is selected from the www.myLACCDcard.com website, after all applicable fees are deducted and enrollment status is verified.