Financial Aid

Online Student Loan Process

Student Loan Facts

You must be enrolled in, and actively attending, at least six (6) hours that go towards a degree or certificate program to be eligible for a loan disbursement.
Satisfactory academic progress must be maintained in order to receive the loan funds.
You are required to notify the Financial Aid Office of any changes to your schedule, whether adding or dropping classes.
Schedule changes may impact your eligible loan amount.
All financial aid money received must be used for educational expenses related to your program of study at JWCC. Financial aid will be used first to pay tuition and fees at JWCC.
If you withdraw from classes after receiving Federal financial aid funds, you may be required to return all or a portion of the funds received. You may owe charges on your account not covered by the adjusted awards.
You must report in writing to the Financial Aid Office scholarships or grants received from sources other than John Wood Community College. (WIA, GAMM, DORS, Foundation Scholarships, etc.)
You may not receive financial aid from two schools at the same time.
All financial aid is awarded for one academic year. You must reapply for financial aid each year.
Classes that begin late within a semester may delay disbursement of a loan check.
Open Learning Center class start dates must be confirmed before financial aid loan checks may be disbursed.
Loan checks for first time borrowers through JWCC will not be disbursed until 30 days after first day of classes.
Loan checks are delivered in two disbursements per loan period.

Checklist

Note: If you fail to complete all required information on this checklist, your loan request will be rejected.

__ Complete the Free Application for Federal Student Aid (FAFSA).

__ Submit an official copy of your high school transcript, or official GED scores to the Admissions Office.

__ Register for a minimum of 6 credit hours for the term(s) for which the loan is intended. You must be registered as a degree seeking student in order to receive any type of financial aid.

__ Complete and return all documentation requested by the Financial Aid Office (verification information, suspension and hourly limit appeals, etc.)

__ Complete Student Loan Entrance Counseling if you are a first time borrower at JWCC.

__ Complete the Master Promissory Note (MPN) if you are a first time borrower at JWCC.

__ Complete, sign, and date the JWCC Loan Request Form for ALL borrowers at JWCC.

Please review the chart below to determine the level of debt that you might reasonably be able to handle:

Amount Borrowed	Number of Payments	At 6% Interest	At 7% Interest	At 8% Interest
$2000	62	$50	$50	$50
$4000	103/115	$50	$50	$50
$8000	120	$89	$93	$97
$10000	120	$112	$116	$121
$15000	120	$167	$174	$182
$17000	120	$189	$197	$206

**This chart is for comparison purposes only since examples may not represent actual credit terms.

STAFFORD LOAN ANNUAL MAXIMUMS:

Freshman (0-27.5 earned hours) $3500/year or $1750/semester

Sophomore (28+ earned hours) $4500/year or $2250/semester

Start the Loan Process by selecting one of the following:

I’ve Never Borrowed at JWCC

I’ve Borrowed Before at JWCC