The “Borrow Smart” campaign was developed to educate students regarding their rights and responsibilities as borrower’s and how to manage their student loan debt.
3 year cohort default rate – 31.7%
In conjunction with the “Borrow Smart” campaign and due to the Loan Education, Justification, Application Policy, effective 6-24-13 student loans will no longer be offered as part of your financial aid award package. If you need to apply for a loan:
- Visit our Financial Aid Forms page and select the loan application
- You’ll find instructions on completing the form(s) at the top of the Financial Aid Forms page.
- Please be aware that insufficient documentation will result in non-review.
If you are borrowing a federal loan for the first time, you are required to complete an entrance counseling session. Click here for a printable brochure on loan entrance counseling. The counseling may be done online at http://www.studentloans.gov.
Master Promissory Notes
If this is your first Direct Loan, your Master Promissory Note (MPN) will be available at http://www.studentloans.gov within a week after you accept the loan. You will need your FAFSA ID. Results will be sent electronically to the New River CTC Financial Aid Office. A valid MPN with references and valid signature must be completed before any loan funds will be disbursed to your account.
National Student Loan Database (NSLDS)
You have the right to access the NSLDS to obtain information about your Federal student loan borrowing at New River CTC online at http://www.nslds.ed.gov.
Note: You will need your Department of Education issued FSA User ID. If you have lost or don’t remember your FSA User ID, it can be retrieved at: https://studentaid.ed.gov/sa/fafsa/filling-out/fsaid.