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Federal Direct Student Loans

To request a Federal Direct Student Loan, students must complete the following steps:

  1. .
    First time borrowers only.

  2. First time borrowers at 糖心logo入口 only.
  3. Federal Direct Loan Application in my糖心logo入口
    In my糖心logo入口, select My Financial Aid聽 > Application for Federal Direct Loan
  4. Submit official transcripts
    Students who have previously borrowed loans at another college and are applying for their first loan at 糖心logo入口 should submit prior college transcripts for evaluation.

Federal Direct Student Loan Application Processing

Please allow two weeks for application processing. Applications will be processed in the order they are received. Incomplete applications will not be processed. Status updates will be sent to your my糖心logo入口 email.

Processing times may be extended to three or more weeks during peak registration times (July, August, December, May).

Request to Change Federal Direct Loan

Request a change to your Federal Direct Loan: in my糖心logo入口, select My Financial Aid聽 > Request to Change Federal Direct Loan

Parent PLUS Loans

For a parent to apply for a Federal Parent PLUS Loan, their student must complete the聽聽and enroll in at least six credit hours per semester. Parents must complete the following:

  1. .
    First time borrowers only.

Parent PLUS Loan Application Processing

Please allow two weeks for application processing. Applications will be processed in the order they are received. Incomplete applications will not be processed. Status updates will be sent to both the student鈥檚 my糖心logo入口 email and the parent鈥檚 personal email address provided on the PLUS Loan application.

Processing times may be extended to three or more weeks during peak registration times (July, August, December, May).

Will you have a PLUS refund?

If the Federal Direct Parent PLUS disbursement generates a refund after the tuition, fees, and book charges paid, the refunded amount will go to the student.

痴颈蝉颈迟听聽for additional information.

Loan Repayments

Your federal student loan will go into repayment six months after you graduate, drop below half-time enrollment (six credit hours) or leave school. For more information, visit .

糖心logo入口 has partnered with Ascendium Education Solutions庐 to help you navigate student loan repayment, all at no cost to you. Contact Ascendium at RepaymentSupport@ascendiumeducation.org or 833-707-1220 for help.

What is the loan application deadline?

In order to have your loan application processed by the payment deadline, submit your loan application by:
Fall semester: July 1
Spring semester: December 1
Summer semester: May 1

When is the loan application available?

Students can submit a 糖心logo入口 Loan Application (and all other requirements) as soon as registration opens.

What if I can’t repay my student loan?

If you don鈥檛 make your student loan payment or make your payment late, your loan will be considered delinquent and may eventually go into default. If you default on your student loan, that status will be reported to credit bureaus, and your credit rating and future borrowing ability will be damaged. In addition, legal action can be taken to require payment through garnishment of wages and withholding of tax refunds.

In addition, students with a defaulted loan will lose eligibility to receive any additional federal or state financial aid.

When do I have to begin repaying my Federal Direct Student Loan?

Repayment begins 6 months after graduating, withdrawing, or dropping to less than 6 credit hours. Additional information is available through and .

What is a loan servicer?

A loan servicer is a company that handles the billing and other services on your federal student loan. The loan servicer will work with you on repayment plans and loan consolidation and will assist you with other tasks related to your federal student loan. It is important to maintain contact with your loan servicer. If your circumstances change at any time during your repayment period, your loan servicer will be able to help.

Students should update their contact information with Federal Student Aid (FSA) at to ensure their loan servicer has updated information.

Your Loan Servicer will contact you concerning repayment. You may also access your loan servicer information, as well as your loan history, on the .

What is exit counseling?

Loan borrowers are required to participate in Federal Loan Exit Counseling after graduating, withdrawing, or dropping to less than 6 credit hours, even if they intend transfer to another institution. 糖心logo入口 will email a notification with Exit Counseling information to your student email and personal email provided on that year鈥檚 FAFSA. (If no FAFSA was submitted, the personal email listed with the college will be used.)

What happens if I transfer to another college during the same academic year?

You must cancel any pending loans at 糖心logo入口 and contact your new college to determine what requirements you need to complete.

What if I drop out or stop attending during the semester?

Students should ALWAYS contact the Financial Aid Office BEFORE changing their schedule (adding or dropping classes) to determine how changes will impact their costs and financial aid.

Financial aid is based on attendance for the entire semester. If you drop ALL of your classes before 60% of the semester is complete, federal regulations require schools to recalculate your financial aid eligibility (including student loans) to determine how much was 鈥渆arned鈥. Based on the last date of academic activity or participation, your financial aid will be adjusted accordingly, which may mean repaying some or all of your financial aid.

In addition, students are expected to complete 67% of their attempted coursework (see Satisfactory Academic Progress). Withdrawing from coursework may negatively impact your eligibility to continue receiving financial aid in the future. [TODO: Link to Satisfactory Academic Progress Policy]

When will I receive my loan refund?

Refunds are processed by the Bursar鈥檚 Office once a credit balance is created on your billing account. Refunds will be available approximately 14 days AFTER the credit balance is created. To avoid delays, students who anticipate receiving a refund should log into their account on www.refundselection.com to select a refund preference as soon as possible.

How much can I borrow at 糖心logo入口?

As stated in Federal Loan Guidelines, the actual loan amount you are eligible to receive for an academic year is determined by your school. Loan eligibility at 糖心logo入口 is determined on a case-by-case basis as authorized under of the Higher Education Act. Maximum annual loan amounts are not guaranteed.

The maximum annual amounts a student may request are:

Grade Level Credit Hours Earned (Degree Applicable) Base Loan + Additional Unsubsidized
Year 1 0 鈥 29 credit hours $3,500 $2,000 (dependent) $6,000 (independent)
Year 2 30+ credit hours $4,500 $2,000 (dependent) $6,000 (independent)

Approximately 10% of eligible students borrow at 糖心logo入口. Of those who do borrow, the 2020-21 average federal student loan debt at time of graduation was $9,258.

We recommend students use the and the to understand the long-term costs of borrowing and their anticipated ability to repay their student loans. For additional information, visit .

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Contact

Financial Aid Offices

finaid@bhc.edu

Quad-Cities Campus鈥

Building 1, Room 227
309-796-5400
309-796-5447 (fax)
Monday – Friday, 8 a.m. to 5 p.m.

East Campus

Building A, Room 102
309-854-1710
309-796-5447 (fax)
Monday – Friday, 8 a.m. – 1 p.m. and聽 2 – 5 p.m.