Loans are available to students who are not eligible for any grant money and need financial assistance to further their education. Although loan funds are your responsibility to repay, Broward College also has a responsibility to ensure that you are well informed of your obligations and are well educated about your debts.

^For 08/09 academic year, students may request an additional $2,000 on an as-needed basis.  The additional funds are subject to the interest and accrual rate as the *unsubsidized loan program.

Subsidized Loan: A loan based on financial need.  The federal government pays the interest on the loans while you are in school at least half time, during your grace period, and during authorized periods of deferment.

• Apply for financial aid at FAFSA on the web application.
  Broward College school code is 001500 (for all campuses).
  
  
• Complete your financial aid package by submitting all required forms. You can check your requirements by logging into MyBC with your student ID and password.
  
  
  1. Click on the $Financial Aid.
  2. Please check your application status and make sure you clear all the red flags.
     
     
• Submit a Loan Request and Acceptance form to the campus Student Financial Services Office.
  
  
• Complete the Entrance Interview Counseling for new borrowers only. Once you complete the Entrance Counseling Process, please print a copy of the confirmation for your records. BC will receive your confirmation electronically and post it to your account.
  
  
• Attend a Debt Management Workshop. You will receive an e-mail to your Broward College account informing you of the dates and times for all the debt management workshops throughout the College.
  
  
• Allow at least 3-5 days for your loan to be certified. Once certified, you will receive an e-mail to your BC account informing you to complete a Master Promissory Note (MPN) or Loan E-signature. (Please note: If you are a new borrower or have chosen a new lender, you will be required to complete a new MPN or Loan E-signature).

What is a Master Promissory Note? Simply speaking, it is your contract with the lender promising to repay the loan at the terms and conditions specified by the lender. This contract is between YOU and the lender. BC is facilitating the process by making it available on line.

• After two working days, your loan will be accepted. If it is the beginning of the term, the loan will cover your tuition and you may buy books at the bookstore. At the first disbursement date approximately 5 (five) weeks after the term begins, you will receive the balance of your loan in a check. If the loan is processed during the term, you will receive the loan approximately 10 days after the process is completed.

Other important information:

• If you paid your tuition out of pocket by credit card, your loan will credit your credit card first and if there is a balance, you will receive the balance in a check.
• You will receive all your loan information in your Broward College e-mail. Please check it frequently.
• BC is committed to helping you fund the cost of your education which includes tuition, fees and books.
• You must be enrolled in 6 credit hours for each semester a loan is requested.
• If you are a first time borrower, you must wait 30 days to receive your loan.
• When you log into MyBC and view your award status, if your loan is offered, it means that we offered you a loan because you answered yes to the loan question on the FASFA form. Your loan will not be awarded or disbursed until all the requirements above are met.
  

PLUS (Parent Loan for Undergraduate Students) loans are also available to parents of dependent students. Parents may be eligible to borrow up to the total cost of attendance less all financial aid received. Parents are eligible for the PLUS if they meet the minimum government credit requirements. Parents begin repayment 30 days after the final disbursement for the academic year. The PLUS is based on a ten-year repayment plan with no prepayment penalties.