Annual loan limits are the maximum amounts that a student may receive for the entire academic year.

The Subsidized and Unsubsidized annual loan limits are determined by grade level and whether the student is classified as dependent or independent.

The actual loan amount that a student is eligible to receive may be less than the annual loan limit.

• A subsidized award will not exceed the cost of attendance less the expected family contribution and other financial aid awards. 
• Annual award amounts are cumulative, regardless if student attends one or multiple institutions. 

• There is an origination fee on each subsidized or unsubsidized loan. The fee is 1.057% for all loans first disbursed on or after Oct. 1, 2020.
• The interest rate and loan fee are listed on the disclosure statement students receive from the Department of Education after the loan is originated by the school.
• If you received your first Direct Subsidized or Unsubsidized Loan disbursement on or after July 1, 2023, and before July 1, 2024, it will have a fixed interest rate of 5.50%.
• If you received your first Direct Subsidized or Unsubsidized Loan disbursement on or after July 1, 2024, and before July 1, 2025, it will have a fixed interest rate of 6.53%.

• Complete the FAFSA. TTC’s school code is: 004920
• Submit any additional requested documentation.
• Students will be notified of award offer via my.tridenttech.edu email.
• Accept your pending loans in Financial Aid Self-Service.
  • You may accept less than the amounts offered.
• Complete the Student Loan Borrower Information Form.
• Complete a Master Promissory Note (MPN) at studentaid.gov/mpn.
• Complete Loan Entrance Counseling at studentaid.gov/entrance-counseling.
  • First time borrowers must complete entrance counseling. The entrance counseling requirement for the Federal Direct Loan program needs to be completed just once while in attendance at Trident Technical College; therefore, students who borrow in subsequent years need not repeat the entrance counseling requirement.

Students may be eligible for Federal Direct Student Loans if the following provisions apply:

• Enrolled as a regular student in a Title IV-eligible program
• Enroll in at least 6 credit hours in your program of study each semester
• U.S. citizen or eligible non-citizen
• Meets the need requirements specified
• Meets satisfactory academic progress toward completing program (TTC’s Satisfactory Academic Progress (SAP) policy) 
• Not in default on a Title IV loan received at any institution
• Has not met or exceeded annual and/or aggregate loan limits
• Not concurrently receiving Title IV financial aid from another institution of higher education
• Has not met or exceeded Pell lifetime eligibility limits
• Does not owe a refund or repayment on a Federal Pell Grant, Academic Competitiveness Grant (ACG), National Science and Mathematics Access to Retain Talent (SMART) Grant or Federal Supplemental Education Opportunity Grant (SEOG).

All students who stop attending, withdraw, graduate or drop below half-time status (6 hours) must complete an Exit Counseling session.

Please complete your exit counseling for direct loans at the following site:  https://studentaid.gov/exit-counseling/

Students are required to pay back their student loans. When repaying federal loans, students need to identify how much they have borrowed and who currently services their federal loans. Students should use the Loan Simulator tool to see how much they've borrowed and utilize the repayment calculators on the FAFSA website.

After you graduate, leave school, or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment. During this period, you'll receive repayment information from your loan servicer, and you'll be notified of your first payment due date. Payments are due monthly.

If you are unable to make your scheduled loan payments, contact your loan servicer immediately. Your loan servicer can help you understand your options for keeping your loan in good standing. You may be eligible for a deferment or forbearance that allows you to temporarily stop or lower the payments on your loan. For more information on deferment or forbearance options, click here. 

Trident Technical College is dedicated to helping students understand the importance of loan repayment and the options they have available to make repayment more affordable. Please contact one of our student loan coordinators to discuss your options for repayment faloans@tridenttech.edu

• Dependent students of the parents borrowing the PLUS loan must complete the FAFSA. 
• Borrowers will need to complete the Parent PLUS loan application at studentaid.gov/plus-app. Parent will log in with the parent’s FAFSA username and password.
• PLUS loan application results are sent to TTC for certification within 24-48 hours.
• If approved, the parent borrower must sign a Direct PLUS Loan Master Promissory Note (MPN).
• Students will be notified of their award through their my.tridenttech.edu email.

The borrower must:

• Be the parent (biological, adoptive or a step-parent if included on the FAFSA) of a dependent undergraduate student.
• Not have an adverse credit history.

The student is eligible if:

• Enrolled as a regular student in a Title IV-eligible program
• Enrolls in at least 6 credit hours in program of study each semester
• U.S. citizen or eligible non-citizen
• The student meets satisfactory academic progress toward completing their program (TTC’s Satisfactory Academic Progress (SAP) policy)
• Not in default on a Title IV loan received at any institution
• Has not met or exceeded annual and/or aggregate loan limits
• Not concurrently receiving Title IV financial aid from another institution of higher education
• Has not met or exceeded Pell lifetime eligibility limits
• Does not owe a refund or repayment on a Federal Pell Grant, ACG, National SMART Grant or Federal SEOG

• Interest begins accruing when the loan is disbursed. There is no grace period for the interest on PLUS loans.
• Parent has the option of paying the interest monthly instead of letting it build until time for repayment.
• There is an origination fee on the PLUS loan. The fee is 4.228% for all Direct PLUS Loans first disbursed on or after Oct. 1, 2020.
• If you received your first Direct PLUS Loan disbursement on or after July 1, 2023, and before July 1, 2024, it will have a fixed interest rate of 8.05%.
• If you received your first Direct PLUS Loan disbursement on or after July 1, 2024, and before July 1, 2025, it will have a fixed interest rate of 9.08%.

• PLUS loan payments begin once the loan is fully disbursed.
• Borrowers may request a deferment while the student is enrolled at least half-time and for an additional six months after the student graduates, leaves school or drops below half-time enrollment. Borrowers do not have to make any payments while the loan is deferred. Contact your loan servicer for a deferment.
• The loan servicer will notify the borrower of when the first payment will be due.

For more information regarding student eligibility, interest rates, origination fees, repayment, loan limits, and other requirements for borrowing PLUS loans, click here.

We highly recommend that you apply for financial aid by completing the FAFSA prior to seeking a Private student loan option. You may be eligible for Federal Direct loans. The benefits of the Federal Direct loans over Private student loans may include lower interest rates and greater repayment options. Review the difference between Federal Student Loans and Private student loans here.

You are free to choose any lender for the Private student loan. The choice of a lender is entirely yours and must be made before your loan(s) will be funded. However, borrowing a Private student loan is based on credit checks and should only be done after reviewing all of your funding options and contacting different lenders for the best terms. Once you choose your lender you will complete the lender's online loan application. If the loan application is approved, the lender will notify the college.

Transient and nondegree seeking students are not eligible for private student loans at TTC.

Private student loans may not exceed the borrower's Cost of Attendance minus other sources of financial aid.

Interest rates and repayment terms will be different for each lender.

• Interest Rate – It may be capitalized more often increasing the amount of money you ultimately owe. Consider using a cosigner. You may qualify for slightly lower rates.
• Fees – The interest rates and fees that you pay are based on your credit score and the credit score of your cosigner if you choose to use a cosigner.
• Borrower Benefits – These vary by lender.
• Repayment Terms – Some lenders require you to pay while you are in school. Others will defer payments until after graduation.
• Eligibility Requirements - Check the requirements for the loan.

As a result of the Truth in Lending Act (TILA) of 2009, borrowers will be required to submit a Private Education Loan Applicant Self-Certification to their lender before funds can be disbursed. Your lender will provide you with this form when you apply for the Private Alternative loan.

Note: Per the Department of Education, on a case-by-case basis, schools may refuse to certify/originate the loan for a borrower. Similarly, schools may certify/originate a loan for an amount less than the borrower’s maximum eligibility. However, schools must ensure that these decisions are made on a case-by-case basis, and do not constitute a pattern or practice that denies access to borrowers because of race, sex, color, income, religion, national origin, age, handicapped status, or selection of a particular lender or guarantor. If a loan is reduced or denied, the student will be notified in writing through their my.tridenttech.edu email.