Federal Direct Loans

Apply for federal direct loans »

联邦直接贷款是为符合条件的学生提供的联邦学生贷款,以帮助支付高等教育的费用. The US Department of Education offers eligible students Direct Subsidized Loans and Direct Unsubsidized Loans. 要获得任何一种类型的贷款,您必须参加符合财务援助资格的学术课程. Eligible programs consist of a degree or certificate of 16 credit hours or more. To view your current active academic program(s), go to myMCC > Self-Service > Student Planning. 你必须注册至少六个学分,以完成合格的学术课程.

MCC将决定贷款类型和每个学年有资格获得的实际金额. There are annual and aggregate limits to the amount of subsidized and unsubsidized loans that you may be eligible to receive. See the limit details in the tables below.

Visit the Federal Student Aid website for more Direct Loan information

The earliest date student loan refund checks will be mailed is approximately four weeks after the start of the semester.

所有首次借款人在收到第一笔付款前都有30天的强制性等待期. The earliest date student loan refunds will be issued to first-time borrowers is approximately six weeks after the semester begins.

Types of Direct Loans

  • Federal Direct Subsidized Loan

    Subsidized Loans are made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education. The Department of Education pays the interest on the loan while you are enrolled in school at least six credit hours (half-time). Loan repayment begins six months after you cease half time enrollment.

    7月1日或之后首次借款人联邦直接补贴贷款资格的时间限制, 2013.

    你获得的联邦直接补贴贷款不能超过你所修课程公布长度的150%. This is called your "maximum eligibility period." If you continuously enroll and do not complete your program (or transfer to a program of equal or less length), 你将失去联邦直接资助贷款余下期限内的利息补贴。.

  • Federal Direct Unsubsidized Loan

    这种贷款通常颁发给没有经济需求的学生. 你要对利息负责,利息在付款时胜博发app累积. Although principal payments can be postponed, interest will be capitalized, meaning the lender will add the accrued interest to the principal balance owed. Loan repayment begins six months after you cease half-time enrollment.

  • Federal Direct Parent PLUS Loan

    Federal Direct Parent PLUS Loans are federal loans that parents of dependent undergraduate students can use to help pay education expenses. 要获得家长PLUS贷款,你必须参加符合财政援助资格的学术课程. Eligible programs consist of a degree or certificate of 16 credit hours or more. To view the your current active academic program(s), go to myMCC > Self-Service > Student Planning. 您必须注册至少六个学分,以完成符合条件的学术课程. The Direct PLUS Loan is a loan that must be repaid and repayment begins 60 days after the loan is fully disbursed.

    See additional information regarding the Federal Direct PLUS Loan program

  • Private Education Loans

    Private Education Loans, also known as Alternative Loans, are credit-based loans that can help bridge the gap between the actual cost of your education and the amount of your other financial aid funds. Private loans are offered by private lenders and should only be considered after exhausting all other sources of funding, including federal loans. You must contact McHenry County College after you apply for the Private Loan. Additional information will be required from you.

    Learn about the advantages of Federal student loans over private loans

Federal Direct Loan Limits

  • Federal Direct Loan Limits for Dependent Students
    Federal Direct Loan Limits for Dependent Students
    Grade Level Base Loan Amount
    (Maximum Subsidized and/or Unsubsidized)
    Additional Unsubsidized
    Loan Amount
    Total Annual Loan Amount Maximum
    Total Debt from Federal Direct Loans
    (Aggregate Loan Limits)
    First Year Limit:
    freshman with less than 30 earned hours
    $3,500 $2,000* $5,500 $31,000
    Second Year Limit:
    sophomore with 30 or more earned hours
    $4,500 $2,000* $6,500 (No more than $23,000 can be in subsidized loans)


  • 父母被拒绝PLUS贷款的独立学生和受抚养学生的联邦直接贷款限额
    Class Level Base Loan Amount
    (Maximum Subsidized and/or Unsubsidized)
    Additional Unsubsidized
    Loan Amount
    Total Annual Loan Amount Maximum
    Total Debt from Federal Direct Loans
    (Aggregate Loan Limits)
    First Year Limit:
    freshman with less than 30 earned hours
    $3,500 $6,000 $9,500 $57,500
    Second Year Limit:
    sophomore with 30 or more earned hours
    $4,500 6,000 $10,500 (No more than $23,000 can be in subsidized loans)

    Note: The Aggregate Maximum includes outstanding loans for all your undergraduate studies. Once you have reached the Aggregate Maximum, you cannot borrow until your debt is paid down below the set limits. Make sure you Know What You Owe.

Federal Direct Loan Interest Rates and Loan Fees

  • Interest Rates for Direct Loans
    Interest Rates for Direct Loans
    Loan Type Borrower Type Loans first disbursed on or after 7/1/23 and before 7/1/24
    Direct Subsidized Undergraduate 5.50%
    Direct Unsubsidized Undergraduate 5.50%
    Direct PLUS Parents of undergraduate Students 8.05%
    Subsidized loans with a first disbursement on or after July 1, 2012, and before July 1, 2014, 在还款胜博发app前的六个月宽限期内没有资格获得联邦利息补贴.


    所有直接补贴贷款和直接无补贴贷款都有贷款费用. 贷款费用是贷款金额的一个百分比,并按比例从每次贷款支付中扣除.

  • Loan Fees for Direct Subsidized Loans and Direct Unsubsidized Loans

    Direct Subsidized Loans and Direct Unsubsidized Loans - On or after October 1, 2020, and before October 1, 2024 - Loan Fee 1.057%

    Direct Parent Plus Loans First Disbursement Date - On or after October 1, 2020, and before October 1, 2024 - Loan Fee 4.228%

National Student Loan Data System Disclosure

Institutions that enter into an agreement with a potential student or parent of a student regarding a Title IV loan are required to inform the student or parent that the loan will be submitted to the Federal Student Aid website and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

  • Loan Disbursement

    Federal regulation requires Direct Loan funds be disbursed in two equal payments. Loans are disbursed around the second week of the semester. 请在付款日期后一至两周内将款项申请到学生账户. In the case of a credit balance, remaining funds will be applied to a student's selected refund preference with BankMobile. If a refund preference is not selected, the default option is a paper check. See details on how to select a refund preference with BankMobile

    If your loan period is for a single semester (Fall only or Spring only), 你的贷款资金将在一个学期内分两期发放, one at the beginning and one at midpoint. If you drop below half-time status before the midpoint disbursement, undisbursed funds will be canceled.

    First time borrowers are required to complete the first 30 days of their academic program before disbursements can be processed. Again, 请在付款日期后一至两周内将款项申请到学生账户.

    教育部将在第一次付款后为您的贷款指派一名服务人员. To view your current loan debt, loan servicer information, loan simulator, log into the Federal Student Aid website. Sign in using your email and FSA ID.

  • Title IV Credit Balance Policy

    MCC's policy on paying all Student Credit Balances is modeled after the requirements of Title IV student credit balances. A Title IV credit balance occurs whenever the college credits Title IV program funds to a student's account and those funds exceed the student's allowable institutional charges.
    Allowable institutional charges, include:

    • Current charges for tuition, fees and bookstore purchases
    • Other educationally related charges incurred by the student at MCC, with the student's written authorization
    • 在学生的书面授权下,上一年度的费用,最高不超过200美元


    MCC会尽快将剩余的第四章项目资金(信用余额)直接支付给学生, but no later than 14 days after:

    • The date the balance occurred on the student's account, if the balance occurred after the first day of class of a payment period; or
    • The first day of classes of the payment period if the credit balance occurred on or before the first day of class of that payment period.

    Depending on the specifics of the situation, 对于有信用余额的学生,并且是第四章联邦援助的接受者, 授予的资助水平可能需要由学校的财政援助办公室重新计算.

    Written Authorization:

    Students (or parent borrowers) must provide written authorization before MCC can perform any of the following actions with respect to credit balances related to Title IV federal aid funds:

    • 在同一奖励年度的学期内,学生账户中持有信用余额,或者
    • Apply funds awarded for the current year to prior year charges, up to $200, to pay for allowable institutional charges
  • Right to Cancel

    You have the right to cancel all or part of your federal loan(s) within 14 days of the start of the enrollment period for which the loan is intended or 14 days from the date the school notifies you of receipt of the loan funds. To cancel, provide a written request to the Office of Financial Aid. 你可在贷款发放后的120天内,将全部或部分贷款归还贷款人. Contact your servicer for guidance on how and where to return your loan money.

Exit Counseling

Federal regulations require student loan borrowers who graduate, withdraw (regardless of plans to transfer to another school), or drop below half-time status complete exit counseling. Half-time enrollment requires enrollment in at least six credit hours required to complete an eligible academic program. Exit Counseling allows the borrower an opportunity to view their total Federal Loan debt and their rights and responsibilities as a borrower. Exit Counseling guides borrowers in selecting the most effective repayment plan based on their current financial situation. Students will receive information about the types of loans they received, when and where to make payments, what to do if a payment cannot be made, and the consequences of a missed payment(s). In order to make this as easy and convenient as possible, borrowers are able to complete this requirement online.

  • How to Complete Exit Counseling
    1. Sign in at Federal Student Aid.
    2. Once you have confirmed your information, select "Complete Counseling."
    3. Select Exit Counseling by selecting the "Start" button.
    4. Under "School Information", 选择“伊利诺伊州”作为“学校州”,选择“胜博发app”作为“学校名称”."
    5. Complete required steps through confirmation. Print a copy for your records.
    6. 教育部将在24小时内发送MCC完成确认. When confirmation is received, any restrictions on your account will be removed.

Understanding Loan Repayment

  • Grace Periods

    When you graduate, drop below half time or withdraw from your academic program, 你的直接补贴贷款和非补贴贷款将有六个月的宽限期. 宽限期从你停止上学至少一半时间的第二天胜博发app. Once your grace period ends, you must begin repaying your loan(s).

    If you have an in-school deferment on a Direct Subsidized or Unsubsidized loan that entered repayment at the earlier date (before you returned to school) and you graduate, drop below half-time enrollment, or withdraw from school, you will be required to immediately begin making payments on the loan because the six-month grace period has already been used up, there is no second grace period.

    There is no grace period for Direct PLUS Loans - the repayment period for the PLUS loan begins on the day after the final loan disbursement is made. However, if you're a parent PLUS borrower, you can defer repayment of Direct PLUS Loans first disbursed on or after July 1, 2008, while the student for whom you obtained the loan is enrolled at least half time, 在学生毕业或低于半学期入学后的六个月.

    Remember, if you choose to defer payment on a Direct PLUS Loan, any interest that accumulates during the deferment period will be added to the unpaid principal amount of your loan. This is called "capitalization,“这增加了你的债务,因为你必须为更高的本金余额支付利息.

  • When You Start to Repay Loans

    Repayment on a Federal Direct Loan begins six months after a student graduates, withdraws, or drops below half-time enrollment. There's a lot to consider when repaying your federal loan. Understanding the details of repayment can save you time and money. Find out when repayment starts, how to make your payment, repayment options, and what to do if you have trouble making payments.

    Learn more about deferment or forbearance

  • Delinquency and Default

    Your loan becomes delinquent the first day after you miss a payment. If you are delinquent on your loan payments, late fees may be added, 你的违法行为将被报告给一个或多个国家消费者报告机构(信用局)。. If you cannot make your loan payment contact your loan servicer immediately to find out how you can stay on track with your payments. If a payment is delinquent for 270 days or more you will be in default.

    To default means you failed to make your payments on your student loan as scheduled according to the terms of your Master Promissory Note (MPN), the binding legal document you signed at the time you took out your loan.

  • The Consequences of Default
    • 您的贷款的全部未付余额和任何利息是立即到期和应付.
    • You lose eligibility for deferment, forbearance, and repayment plans.
    • You lose eligibility for additional federal student aid.
    • Your loan account is assigned to a collection agency.
    • 贷款将被报告为拖欠信用局,损害你的信用评级. This will affect your ability to buy a car or house or to get a credit card.
    • Your federal and state taxes may be withheld through a tax offset. This means that the Internal Revenue Service can take your federal and state tax refund to collect any of your defaulted student loan debt.
    • Your student loan debt will increase because of the late fees, additional interest, court costs, collection fees, attorney's fees, and any other costs associated with the collection process.
    • Your employer (at the request of the federal government) can withhold money from your pay and send the money to the government. This process is called wage garnishment.
    • The loan holder can take legal action against you, and you may not be able to purchase or sell assets such as real estate.
    • Federal employees face the possibility of having 15% of their disposable pay offset by their employer toward repayment of their loan through Federal Salary Offset.
    • It will take years to reestablish your credit and recover from default.
  • Deferment

    Under certain circumstances, you may temporarily postpone or reduce your federal student loan payments. Postponing or reducing your payments may help avoid default. 根据你的贷款类型,你仍然要为贷款的利息负责. If you don't pay the interest on your loan during deferment, it may be capitalized (added to your principal balance), and the amount you pay in the future will be higher.

    Circumstances which may qualify you for a deferment include the following:

    • Returning to school in at least a half-time status
    • Studying full time in a graduate fellowship
    • Approved rehabilitation training
    • Unemployment (deferment limited to 3 years)
    • Economic hardship (deferment limited to 3 years)
  • Forbearance

    If you can't make your scheduled loan payments, but don't qualify for a deferment, your loan servicer may be able to grant you a forbearance. With forbearance, 您可以停止付款或减少每月付款,最长可达12个月. 你的资助及非资助贷款(包括所有PLUS贷款)将继续计息。.
    Two types of forbearances:

    • Discretionary
    • Mandatory

    Find out if you qualify for Forbearance or Deferment or contact your federal loan servicer. You will need to work with your loan servicer to apply for deferment or forbearance; and be sure to keep making payments on your loan until the deferment or forbearance is in place.


Related Links

Need More Help Paying for College?