| Apply for a Direct Loan. |
| Below are the steps you must complete to receive your Direct Loan at Long Beach City College as a continuing borrower. For the Exit Counseling, you will need your PIN number, issued to you by the Department of Education. You can request a copy of your PIN if you lost it. If at any time you have a problem with the online process see your Financial Aid Office at LAC or PCC about completing the process in paper form.
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| Step 1. |
| Print and complete both the LBCC Direct Loan Application and the Direct Loan Quiz. Submit these forms to the Financial Aid Office at LAC or PCC. |
| Step 2. |
| If needed, print and complete a Loan Appeal Request Form (does not apply to all students). Submit this form to your campus Financial Aid Office if you are applying to exceed LBCC's recommended total borrowing limit of $12,500. (This loan limit includes all student loans, even from other schools.) If you have loans from other schools and are unsure of how much you have borrowed, you can see your complete loan history at the National Student Loan Data System--a PIN is required. |
| Students can also apply for an Additional Unsubsidized Direct Loan using this form. Independent students can request a maximum of $6,000 and dependent student $2,000. All requests are reviewed by the Financial Aid Appeals Committee.
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| Step 3. |
| If your only previous Direct Loan at Long Beach City College was before the 2002/03 school year, you must complete a Master Promissory Note at the Department of Education website. You do not need to submit a copy of the promissory note to us. We will receive the information electronically. |
| If you had a Direct Loan in 2002/03 or later, you can skip this step. |
| Step 4. |
| Carefully read the following information about Direct Loan processing at Long Beach City College. If you have any questions, please call or come by the Financial Aid Office at LAC or PCC. |
| Once we have your application, we will determine how much you are eligible to borrow. Most students receive the entire amount they request. However, there are some factors which affect loan eligibility, such as financial need, year in school, and amount of previous borrowing. |
| The amount of financial need you have after taking into account your financial aid budget, the Effective Family Contribution (EFC) from your FAFSA, and the financial aid you are already receiving. |
| Freshmen (0 to 29.5 total units completed), may borrow up to $3,500 per year. Sophomores (30 or more total units completed) are limited to $4,500 per year. There are no juniors or seniors at a community college. |
| At Long Beach City College, students may borrow up to a total of $12,500 (including any loans from previous schools). Students who wish to exceed that total must fill out a Loan Appeal Form. |
| Unsubsidized Loans begin to accrue interest as soon as the loan is made. The borrower can repay the interest quarterly or capitalize the interest (add it to the loan principle) in which case the loan grows while the borrower is in school. Students who want to apply for an Additional Unsubsidized Direct Loan at Long Beach City College, must fill out a Loan Appeal Form. Dependent students are not eligible to receive an Additional Unsubsidized Direct Loan. |
| Borrowers applying after the second week of school must also submit a Verification of Attendance form. |
| Once you turn in your forms and they are all complete, your check will be ordered. Typically, loan checks are mailed three to four weeks after the Promissory Note and Verification of Attendance are turned in. |
| Step 5. |
| Complete Direct Loan EXIT Counseling. (Department of Education PIN required.) Look for a checkbox on the Exit Counseling page where you can indicate that your school requires you to repeat Exit Counseling. You must complete exit counseling before your second loan check will be ordered. We will receive confirmation that you have completed it electronically from the Department of Education. Late applicants: If your loan will be disbursed in one payment, you must complete exit counseling before any checks will be ordered. If you have never received any Direct Loan checks you will not be able to do your exit online. In that case, see your campus Financial Aid Office for a schedule of in-person exit meetings. |
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