Federal Student Loans

Federal Direct Loans are processed by request only. Loan applications are available by request at the Rock Valley College Financial Aid office (second floor of Student Center).

To be eligible you must:
 

• Have completed the Free Application for Federal Student Aid (FAFSA) and have a completed financial aid file with Rock Valley College.
   
• Meet all eligibility requirements (ex: satisfactory academic standards).
   
• Complete a Master Promissory Note and the Online Entrance Counseling. Sign in at studentloans.gov to complete your Master Promissory Note and Online Entrance Counseling.
   
• Be enrolled in AND attending six financial aid eligible credit hours per semester.

Important things to know:
 

• All funds will be applied first to the student's account to pay any balance owed to the school. If there are remaining funds they will be mailed to the student.
   
• If a student loan is not certified early enough to allow processing time for the scheduled disbursements, the disbursements will be made as soon as the funds are available.
   
• Student loans reduce the amount of work study eligibility a student has.
   
• A student should request the amount of funds needed for the entire timeframe that the loan is requested for. 
• Additional loan fund requests submitted after your loan has been certified may be delayed. Students may be required to fill out an additional form (found at the Financial Aid office counter).
   
• All loan checks are mailed and cannot be picked up.
   
• Once your loan funds are applied to your balance, it could take up to 14 days for any remaining funds due to the student to be mailed.
   

Helpful Links:
 

• Important Federal Direct Stafford Loan Information
• Rock Valley College Student Loan Code of Conduct

Loan Disbursement Dates

Full Year Loans

The first half of the loan will be disbursed prior to the first week of the fall term, and the second payment will be disbursed the first week of the spring term. If the student is a freshman first-time borrower, the fall disbursement will be delayed until 30 days into the semester (per Federal regulations).
 

One Semester Loans for Fall/Spring

The first half of the loan will be disbursed prior to the first week of the term, the second payment will be disbursed about midterm of the semester. If the student is a freshman first-time borrower, the first disbursement will be delayed until 30 days into the semester (per Federal regulations).

Keep Track of Your Student Loans!
 

Students should keep track of current and past Direct Loans through the National Student Loan Data System for students.

Students who have or think they may have a defaulted student loan can call the U.S. Department of Education at (800) 621-3115 to try and resolve the problem.

* For alternative loans, students should check with their lenders for information about their loan status.