Loans are borrowed money that must be repaid with interest. To receive loans, you must be enrolled for at least six credit hours at PVCC, have completed the FAFSA, completed an online loan entrance quiz and e-signed a Master Promissory Note. The loan request form included in your award letter will indicate how to participate in the counseling. As part of the online loan process, you will sign a promissory note - a legal document that spells out the terms of the loan and your promise to repay it.
What types are available?
Direct Loan:
These low-interest direct federal student loans provide additional funds for College for eligible students enrolled in 6 or more credits. Student must advance a grade level before receiving a third loan. Students who have borrowed their maximum undergraduate limit for a two-year school (40,000) may not qualify. See loan officer for details.
PLUS Loan:
The PLUS Loan is offered to parents of dependent students enrolled in 6 or more credits in eligible programs at participating and eligible post-secondary institutions.
Nursing Student Loan:
Nursing students are eligible for this long-term, low-interest loan. Repayment begins nine months after the student ceases to be a half-time nursing student. The total amount must be repaid within a 10-year period. For details, ask the Financial Aid Office.
