Terms of Student Loans
Direct Loans are low-interest loans for students and parents to help pay for the cost of a student’s education after high school. The lender is the U.S. Department of Education (the Department), though the entity you deal with, your loan servicer, can be a private business. Student loans are a debt which must be repaid. You can find more information about student loans and a sample repayment schedule online at
studentaid.gov/manage-loans/repayment.
National Student Loan Database System
You can find information about all your student loans—Direct Loans, FFEL Program Loans, and Federal Perkins Loans—by accessing the Department of Education’s National Student Loan Data System online at
nsldsfap.ed.gov/login or by calling toll-free (800) 999- 8219. You will need your federal student aid (FAFSA) PIN to access NSLDS.
Entrance & Exit Loan Counseling for Student Borrowers
Entrance Loan Counseling
All first-time borrowers at MACC must participate in an in-person student loan counseling session. Dates and times are posted online at www.macc.edu/student-loan-entrance-counseling. In addition, all first-time borrowers at MACC must complete online Student Loan Entrance Counseling. This may be completed online at studentaid.gov/entrance-counseling.
Exit Loan Counseling
All student loan borrowers are required to complete exit counseling before they withdraw, graduate or reduce their enrollment status to less than half time (less than six hours). MACC will notify loan borrowers of this requirement and will require Exit Counseling to be completed online at studentaid.gov/exit-counseling. MACC will not release an official transcript if Exit Counseling is not completed.
Code of Conduct for Student Loans
MACC adheres to a code of conduct regarding relationships with providers of private educational loans. A complete copy of the policy is available online at
www.macc.edu/educational-loans-policy. Although MACC does not recommend private educational loans, at the request of a student applicant for a private educational loan, MACC will provide the official Private Education Loan Applicant Self-Certification form.
Student Loan Postponing Payments Options
If student loan borrowers experience financial hardship, they may postpone student loan payments if they meet specific eligibility criteria. Postponement options are called deferment or forbearance. More information may be obtained directly from the Student Loan Servicer and online at
studentaid.gov/manage-loans/lower-payments/get-temporary-relief/forbearance.
The Student Loan Ombudsman
The Federal Student Aid Ombudsman Group is where individuals can turn after trying other ways to resolve a federal student aid dispute. Assistance requests are generated from phone calls, letters and emails, and are classified as either general assistance or research problem assistance. Learn more about ombudsman principles online at
studentaid.gov/feedback-ombudsman.
Preferred Lender List
Moberly Area Community College does not have Preferred Lender Arrangements.