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Completing Your Federal Direct Stafford Loan Application
The following instructions are for students who have been awarded a Federal Direct Stafford Loan from Northern Essex Community College (you are considered a first time borrower even if you previously borrowed through the Federal Family Education Loan Program at NECC in previous semesters). Please note that your loan will not be credited to your student account until all loan requirements are completed in full. If you have been awarded a Federal Direct Stafford loan, you must first accepted/decline the amount you wish to receive for both Subsidized and Unsubsidized Direct Loans and complete the loan application process as outlined below.
Federal Direct Stafford Loan Application Process
Before a student can complete the Federal Direct Stafford Loan Master Promissory Note and Federal Direct Stafford Loan Entrance Interview, you must log into your MY NECC account and accept/decline your loan award. Some students are awarded a Stafford Loan as part of their Financial Aid Package. If you were not awarded a Stafford Loan but wish to apply for a loan, please email aid@necc.mass.edu the amount you wish to borrow for the Academic Year.
Though we provide detailed instructions below on how to complete both the Federal Direct Stafford Loan Master Promissory Note and Federal Direct Stafford Loan Entrance Interview, please know you should not complete these steps until you have confirmed the amount you wish to borrow through MYNECC.
Students must complete all components of the application process in order to receive their Federal Direct Stafford Loan proceeds.
NOTE: You must complete this process prior to your bill due date which may be earlier, or you could be dropped from your classes for Non-Payment.
- Email aid@necc.mass.edu the amount you wish to borrow for the aid year.
- Accepting Your Loan(s) Through MY NECC.
Step 1: Go to http://www.necc.mass.edu/mynecc/index.php
Step 2: Log into Self Service (choose from the left hand navigation bar)
Step 3: Select the “Financial Aid” Tab
Step 4: Click “Financial Aid Status and select “2009-2010 Academic Year” from the drop-down menu
Step 5: To see your award, click “You have been awarded financial aid which totals…”
Step 6: To accept your loan(s), select the “Accept Award Offer” tab.
Options for Accepting Award Offers
1. Accept the full award amount by selecting Accept Full Amount of All Awards.
2. Choose Decline or Accept for each fund.
3. Accept a partial amount by selecting Accept and entering the amount in the Accept Partial Amount field.
Step 7: Select the “Financial Aid” Tab again. If you are a first time Direct loan recipient, once you accept your student loan(s) you will see “new” outstanding requirements. Click “You have unsatisfied student requirements for this aid year” and complete the requirements.
- Direct Loan Entrance Counseling
Direct Loan Entrance Counseling is a federal requirement for all students borrowing a Federal Direct Loan for the first time at Northern Essex Community College. Students are required to complete Direct Loan Entrance Counseling before the proceeds from the Direct Loan can be disbursed to the student account. To complete Direct Loan Entrance Counseling, click below and follow the instructions. Once the entrance interview has been completed, do not forget to choose Northern Essex Community College (School Code 002174) in Massachusetts so your confirmation is forwarded to us. Start Your Counseling Session.
- Direct Stafford Loan Promissory Note
The Direct Stafford Loan Promissory Note is a legally binding agreement to repay the student loan. This agreement is between the student and the Department of Education. A parent cannot complete the Direct Stafford Loan promissory note (or entrance interview) on the student’s behalf. To complete the Promissory Note online, you will be required to use your Department of Education-issued PIN. If you do not have a PIN, you may request one from www.pin.ed.gov. You will also need to have available the complete names, addresses and telephone numbers of two adult references who live at different addresses (although one may live at the same address as you) and have known you for at least three years. These references are two individuals who will always know your current address and telephone number. Complete Your Loan Application Today.
Please note that Direct Loan funds will not be disbursed to your student account until you have accepted your loan through MY NECC, completed the Entrance Counseling requirement, the Direct Loan promissory note and we received confirmation from the Department of Education that all requirements have been satisfactorily completed. To view some of the most common frequently asked questions regarding the Federal Direct loan program, please visit Direct Loans Frequently Asked Questions. If you have any questions regarding either the completion of Direct Loan Entrance Counseling or the Direct Loans program at Northern Essex Community College, contact the Financial Aid Office at aid@necc.mass.edu.
