Student Stafford Loan Page

If you are a new loan borrower at NCC please follow these steps to complete the loan application process:

All paperwork must be completed at least six weeks prior to when the funds are needed.

Step 1. - CHOOSE A LENDER
You may borrow from any lender that participates in the Stafford Loan Program. You must select your own lender; the Financial Aid Office cannot do this for you. Listed below are lenders that students at Northwest Iowa Community College have borrowed from over the past four years and these lenders have indicated their continued participation in the Stafford Loan Program. Northwest Iowa Community College does not recommend or endorse any of the lenders on this list.

You may conduct some web searches to gather specific data about prospective lender options. Things you may consider when choosing a lender are:
• Does the lender offer any up-front benefits on the interest rate and / or terms of my loan?
• Does the lender offer any repayment benefits, such as rewards for paying on time or for making payments electronically?
• Will I be notified if my lender chooses to sell my loan?
• Does the lender/servicer offer reliable customer service?
• Am I able to reach a knowledgeable customer service operator quickly?

REMEMBER, you may choose any participating lender even if they are not on the list below.

Lender List (Alphabetical by Location)
Write the Lender ID & Name Down to put on MPN.

Step 2. – COMPLETE A MASTER PROMISSORY NOTE (MPN)
Complete a Master Promissory Note (MPN). The MPN may be printed from the following website . http://www.iowacollegeaid.gov/images/docs/file/forms/MPN_Addendum.pdf
OR
You may obtain an MPN from the lender (Bank) or the Financial Aid Office.

Mail the original, completed MPN to the Financial Aid Office.



Step 3. – COMPLETE THE LOAN AUTHORIZATION FORM (LAF)
Decide how much you need to borrow and indicate the amount on the Loan Authorization Form (LAF). Refer to your Award Letter for loan eligibility.

Electronically submit the completed Loan Authorization Form to the Financial Aid Office as follows:
• If you currently use Microsoft Outlook or Outlook Express and it is set up to connect to your email, or if you use a work email system, then click on the Loan Authorization Form link below, complete the form, and when you submit it select "Desktop Email Application."
• If you use internet email (such as Yahoo or Hotmail), or if you are not sure, click on the Loan Authorization Form link below, complete the form, and when you submit it, select "Internet Email." Save the Loan Authorization Form to your computer, then email the form as an attachment to finaid@nwicc.edu. Please enter LAF in the Subject line of your email.

Optional method: Submit the Loan Authorization Form by mail by clicking on the Loan Authorization Form link below and printing the form. Then complete, sign and mail to the Financial Aid Office at NCC.

Loan Authorization Form

Step 4. – COMPLETE LOAN ENTRANCE COUNSELING
You are required by federal regulation to complete an Online Entrance Counseling session. You must complete this at Loan ENTRANCE Counseling before you can receive any loan funds.

REMEMBER:
• The first disbursement for first-time students at NCC will not be released until 30 days after the term begins.
• Your Federal Stafford Student Loan will be subject to multiple disbursements. Loans will be disbursed in two or three payments, depending upon the length of your program.

For more information about financial aid, contact finaid@nwicc.edu