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Loans

Loans should always be taken only as a last resort. Always maximize your other sources of aid (e.g. grants, scholarships, work study) whenever possible and only borrow as much as you truly need to cover educational costs.

PLUS Loans entail the parent taking out a loan on the student's behalf i.e. the parent is the borrower. A credit check, among other eligibility factors, is reviewed by the federal government to determine if the parent qualifies. Visit studentloans.gov for additional information and/or to apply.


Subsidized Loans
are subsidized by the federal government i.e. the federal government covers the interest while the borrower is in school.
Direct Subsidized Loans are federal aid, so FAFSA completion (as well as resolution of any resulting red flags) is required. A student must also be enrolled in a minimum of six credits to be considered.

Unsubsidized Loans are not subsidized by the federal government i.e. the federal government does not cover the interest while the borrower is in school. Direct Unsubsidized Loans are federal aid, so FAFSA completion (as well as resolution of any resulting red flags) is required. As with Subsidized funds, a student must also be enrolled in a minimum of six credits to be considered.

Please note that Broward College was selected to participate in a U.S. Department of Education initiative designed to reduce excessive student loan borrowing. Effective July 1, 2012 unsubsidized loans at Broward College will only be available to students who meet one or more of the following criteria.

  • Admitted to a Health Sciences program which requires clinicals. Students receiving sponsorships are not eligible for Direct Unsubsidized Loans.
  • Enrolled in the A.S. - Professional Pilot Technology program
  • Out of state and paying non-resident tuition
  • Receiving no Federal or State aid (Direct Subsidized Loans included)
  • Total financial aid award, including Direct Subsidized Loans, is less than $5,500
Remember, loans must be repaid even if you do not ultimately complete your degree or secure employment, etc. For more information regarding federal loans (types, interest rates, repayment options, etc.) view our loan videos or visit www.studentloans.gov.

Loan Application Process

  

Direct Subsidized Loans:

NOTE: Previous Direct Loan Borrowers may skip Step 1.
Step 1. Complete a Direct Loan Master Promissory Note (MPN) as well as Direct Loan Entrance Counseling

Complete a Direct Loan Master Promissory Note (MPN) as well as Direct Loan Entrance Counseling at www.studentloans.gov​. All first time borrowers must do both before they can receive a federal student loan.

Step 2. Attend a Debt Management Workshop (DMW)

Students who (1) Are on financial aid 'Warning' (2) Have defaulted on a prior loan (3) Have aggregate student loan debt greater than $15,000 while enrolled in an Associates or certificate program (4) Have aggregate student loan debt greater than $30,000 while enrolled in a Bachelors program are strongly encouraged to attend a DMW session.

Step 3. Answer 'Yes' to Loans

​Answer 'yes' to the question on MyBC regarding your interest in receiving a student loan.

*Please note: if you are seeking a Summer Only Subsidized loan award you must complete a separate form, namely the CFAF. This form is available on campus at the Financial Aid office. 

Step 4. Confirm Your Loan Award

Log into your MyBC account​ and go to your 'Award' Financial Aid page to confirm that your loan award has been posted. (If the term for which you would like the loan has not already started this could take a few weeks.)

Step 5. Accept, Reduce, or Decline Your Loan
Once your loan has been posted, go to your 'Application Status' Financial Aid page and click on the red flag to Decline, Reduce, or Accept the Subsidized loan amount.

Step 6. Confirm Your Loan is Credited

​Log into your MyBC account and go to your 'View Award Status' Financial Aid page 5 to 7 days after you've accepted your Subsidized funds to confirm that they subsequently show as 'Credited.' Only when they show as 'Credited' will they provide coverage for your tuition, etc.


Direct  Unsubsidized Loans:

NOTE: Previous Direct Loan Borrowers may skip Step 1.
Step 1. Complete a Direct Loan Master Promissory Note (MPN) as well as Direct Loan Entrance Counseling

Complete a Direct Loan Master Promissory Note (MPN) as well as Direct Loan Entrance Counseling at www.studentloans.gov. All first time borrowers must do both before they can receive a federal student loan. (If you've already completed a MPN and Entrance Counseling for a Subsidized loan, there is no need to re-do either for your Unsubsidized loan.)

Step 2. Attend a Debt Management Workshop (DMW)

Students who (1) Are on financial aid 'Warning' (2) Have defaulted on a prior loan (3) Have aggregate student loan debt greater than $15,000 while enrolled in an Associates or certificate program (4) Have aggregate student loan debt greater than $30,000 while enrolled in a Bachelors program are strongly encouraged to attend a DMW session.​

Step 3. Submit an Unsubsidized Loan Request Form

Submit an ​unsubsidized loan request form. Remember, you must fall into one of the approved categories listed above in order to submit this application and be considered for Unsubsidized funds. Note: There is no appeal process to request Unsubsidized loans if you do not meet any of the approved criteria.

Step 4. Confirm Your Loan Award
Log into your MyBC account and go to your 'Awards' Financial Aid page to confirm that your loan award has been posted. If the term for which you would like the loan has not already started, this could take a few weeks.

Step 5. Confirm Your Loan is Credited

Log into your MyBC account and go to your 'Awards' Financial Aid page 5 to 7 days after your Unsubsidized funds have been 'Offered' to confirm that they subsequently show as 'Credited.' Only when they show as 'Credited' will they provide coverage for your tuition, etc.​

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Broward College does not discriminate on the basis of race, color, ethnicity, genetic information, national origin, marital status, sex, disability, or age in its programs and activities.
For information regarding the non-discrimination policies and Title IX please click the link below:
http://www.broward.edu/studentresources/rights-and-responsibilities/Pages/reporting-sexual-misconduct.aspx