Loans

Student Loans

William D. Ford Federal Direct Loan Program (DL)

Victoria College participates in the William D. Ford Federal Direct Loan Program (DL). The program provides low-interest loans to eligible students enrolled at least half-time in an institution of higher education. Repayment may be deferred until a student ceases to be enrolled at least halftime in an institution of higher education.

All students who wish to apply for DL must meet the following requirements:

  1. Be currently enrolled for at least 6 credit hours.
  2. Declare a major with the Registrar's office.
  3. Be enrolled in courses that count toward their degree plan or certificate program.
  4. Courses that do not count toward the degree plan or certificate program cannot be included in the enrollment status of students for the purpose of determining whether students are full-time or part-time.
  5. Students must meet the Satisfactory Academic Progress (SAP) requirements to be eligible to receive any type of financial aid (loans, grants, work-study, etc.)


A student's loan eligibility amount will be calculated based on financial need, the number of semester credit hours they are enrolled in each semester (as of the 12th class day during the fall and spring semesters and the 4th class day during summer semesters), the amount of other financial aid (grants, scholarships, work-study, WIA benefits, tuition waivers, etc.) they may receive, and grade level.

Loans funds are available to cover initial payment of tuition/fees and purchase of books. The first disbursement of loan checks are mailed approximately 30-35 days after the first day of class during the fall and spring semesters and approximately 17-20 days after the first class day during the summer semesters (First-time borrowers must wait 30 days before loans can be disbursed, due to federal regulations.) Your correct mailing address must be on file in the Admissions Office. Loans are disbursed in two equal payments in accordance with federal regulations.  For loans covering one semester, the second disbursement cannot be made until at least fifty-percent of the student's enrollment has elapsed.

Obtaining a Direct Loan 

Students must complete a financial aid file and complete apdf loan request form to apply for loan funds. In addition, students who received an award letter with Direct Stafford Subsidized/Unsubsidized Loans are required to complete Entrance Counseling and sign a Master Promissory Note at Studentloans.gov before loan funds can be available.  Entrance Counseling must be completed through a face-to-face session. Victoria College requires all new student borrowers to complete Entrance Counseling even if he or she is a previous borrower. 

 
Available Sessions:

 

VC Main Campus

Tuesday August 4, 2015 HSC Rm 130
5 p.m. - 6 p.m.
Tuesday September 1, 2015 HSC Rm 130 5 p.m. - 6 p.m.
Tuesday October 6, 2015 HSC Rm 130 5 p.m. - 6 p.m.
Tuesday November 3, 2015 HSC Rm 130 5 p.m. - 6 p.m.
Tuesday December 1, 2015
HSC Rm 130 5 p.m. - 6 p.m.
Tuesday January 5, 2016 HSC Rm 130 5 p.m. - 6 p.m.
Tuesday February 2, 2016 HSC Rm 131 5 p.m. - 6 p.m.
Tuesday March 1, 2016 HSC Rm 130 5 p.m. - 6 p.m.
Tuesday April 5, 2016 HSC Rm 131 5 p.m. - 6 p.m.
Tuesday May 3, 2016 HSC Rm 130 5 p.m. - 6 p.m.
Tuesday June 7, 2016 HSC Rm 130 5 p.m. - 6 p.m.
Tuesday June 21, 2016 HSC Rm 130 5 p.m. - 6 p.m.
Tuesday July 5, 2016
HSC Rm 130 5 p.m. - 6 p.m.
Tuesday July 19, 2016 HSC Rm 130
5 p.m. - 6 p.m.
Tuesday August 2, 2016 HSC Rm 130
5 p.m. - 6 p.m.
     

 

Gonzales Center

Wednesday August 5, 2015  GCVC Rm 121 5 p.m. - 6 p.m.
Wednesday September 2, 2015 GCVC Rm 121 5 p.m. - 6 p.m.
Wednesday October 7, 2015 GCVC Rm 121 5 p.m. - 6 p.m.
Wednesday November 4, 2015 GCVC Rm 121 5 p.m. - 6 p.m.
Wednesday December 2, 2015 GCVC Rm 121 5 p.m. - 6 p.m.
Wednesday January 6, 2016 GCVC Rm 121 5 p.m. - 6 p.m.
Wednesday February 3, 2016 GCVC Rm 121 5 p.m. - 6 p.m.
Wednesday March 2, 2016 GCVC Rm 121
5 p.m. - 6 p.m.
Wednesday April 6, 2016 GCVC Rm 121
5 p.m. - 6 p.m.
Wednesday May 4, 2016 GCVC Rm 121
5 p.m. - 6 p.m.
Wednesday June 8, 2016
GCVC Rm 121
5 p.m. - 6 p.m.
Wednesday June 21, 2016
GCVC Rm 121 5 p.m. - 6 p.m.
Wednesday July 6, 2016 GCVC Rm 121 5 p.m. - 6 p.m.
Wednesday July 20, 2016
GCVC Rm 121
5 p.m. - 6 p.m.
Wednesday August 3, 2016 GCVC Rm 121 5 p.m. - 6 p.m.

                                                         

Loan recipients must complete Loan Exit Counseling before transferring to another college or university or graduating from Victoria College, dropping below half-time status, or withdrawing. Loan Exit Counseling is available at Studentloans.gov. Under Tools and Resources, click Exit Counseling link to complete the counseling session. Students not completing Loan Exit Counseling may have a hold placed on their records.
 

 

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