Because loans are funds that you must repay, you must actively accept them. You can do this in eServices on the Loans tab under Financial Aid.
There are three steps in the Loan Acceptance Process, and eServices will tell you whether or not you have met any of the pre-requirements to accepting your loan.
NOTE: If you have received Direct Loans previously and have an active MPN, you do not need to complete another MPN.
Students must be in at least 6 aid eligible credits in order to receive loans for the term.
The Higher Education Opportunity Act, signed into law on August 14, 2008, requires this Student Loan Code of Conduct. This code is applicable to all those with responsibilities related to Title IV federal loans. It prohibits conflicts of interest with regard to loans. Code of Conduct for Financial Aid Personnel.
| Grade Level | Federal Direct Subsidized: Dependent and Independent Students | Federal Direct Unsubsidized: Dependent Student | Federal Direct Unsubsidized: Independent Student |
| Grade 1 | $3,500 | $5,500* | $9,500* |
| Grade 2 | $4,500 | $6,500* | $10,500* |
You have a choice of repayment plans and the monthly payment will depend on the size of your debt and the length of your repayment period.
You will also have a six-month Grace Period before the first payment must be made on your Subsidized or Unsubsidized Federal Direct Loan. The grace period begins the day after you ceases to be enrolled half-time.
Log into studentaid.gov using your FSA ID to:
A servicer is the agency that services your loan account when you enter repayment. You communicate with the servicer, not your lender, when you have questions on your loan status, amounts owed, or changes in your enrollment status or address.
For the 2019-20 school year, 14.7% of Normandale students borrowed, with the student borrowing on average borrowed $13,669 in federal student loans.
Normandale's 3-year cohort default rate for 2017, the most recent year available, was 10.9%. For information about the national average Cohort Default rate, as well as specifics by institution type, visit Federal Student Aid's default management site.
Parent PLUS Loans enable parents of dependent students to borrow to help pay for education expenses. The student must have completed the FAFSA and received a current award letter from Normandale before the parent can apply for a PLUS loan. A credit check will be performed as part of the PLUS application process, and the amount is limited to total cost of attendance at Normandale minus any other financial aid the student has received. PLUS loan funs are sent to Normandale to first pay any outstanding charges owed to Normandale for the student.
We encourage all students to begin the financial aid application process by completing the Free Application for Federal Student Aid (FAFSA).
If you require more financial assistance than appears on your award letter, you may apply for additional student loans from private education loan programs. These loans may have higher interest rates than federal loans and generally should be considered as a borrowing option after you have applied for your federal loans.
Normandale Community College will not recommend, and will not refer students to any specific private student loan program. Normandale Community College has certified private education loans in the past three years for the lenders available at the Fast Choice Lender List.
Please contact the lender for information regarding terms and conditions or to apply for a loan.
Under the Truth-In-Lending Act rules, private education loans are subject to self-certification, three consumer disclosures at specific times in the application process, and a three day delay in disbursement.
Due to the number of steps involved in the private loan application process, applicants should allow a minimum of three weeks for processing.
Neither Normandale Community College nor its employees receive benefits or remuneration as a result of your choice of lender. See our Student Loan Code of Conduct for additional information.
If you are having issues with your student loan lender or servicer, the Student Loan Advocate with the Minnesota Department of Commerce is here to help. To file a complaint, please visit our web page. For general questions, please contact Student Loan Advocate Jabra Kawas at jabra.kawas@state.mn.us or 651-539-1022.
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