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Direct Loans

The Financial Aid Office automatically awards all students their full Federal Direct Student Loan eligibility for the year.  Students are not required to borrow Direct Loans. We strongly encourage students to assess their educational expenses for the year and only borrow what they need.  

Please review the 2023-2024 Direct Loan Guide for detailed information on Direct Loans.

Sample Student Loan Repayment Schedule

To reduce or decline the Direct Loan(s) offered to you: 

To request a Direct Loan Reinstatement: 

To accept any portion of the Direct Loan(s) offered to you:

  1. Complete Entrance Counseling: All first time borrowers at QCC must complete Entrance Counseling which provides you with important information regarding your rights and responsibilities as a Direct Loan borrower. You can easily fulfill this requirement by going to Sign in using your FSA ID and click on Entrance Counseling. Please be sure to select QCC to receive the information.  
  2. Complete a Master Promissory Note (MPN): A promissory note is a legally binding contract between you, the borrower of a Federal Direct Stafford Loan, and the federal government. It contains the terms and conditions of the loan and explains how and when it should be repaid. Therefore, it is very important that you completely read and understand all of the information on the promissory note. MPN's are also signed at using your FSA ID.
  • BOTH Entrance Counseling AND Master Promissory Note must be completed before a loan can disburse onto your student account.
  • Repayment of educational loans begin after a student graduates, stops attending, or is enrolled less than half time. Therefore, in accordance with federal regulations, student loan borrowers must complete Exit Counseling.
  • Borrowers can choose from different repayment plans to make payments more affordable.
  • Use the loan payment calculator to estimate your monthly loan payments.

QCC students who choose to do so may borrow student loans to assist them with educationally-related expenses, including tuition and fees, educational technology, housing and food, transportation and other miscellaneous expenses. Many of these costs are not paid to the College directly. Information about student loan debt, repayment, and QCC's cohort default rate can be found on the U.S. Department of Education College Scorecard

Effective September 2023, QCC's Cohort Default Rate (CDR) is 0.0% and the three year federal student loan repayment rate is 52.1%. The CDR is 0.0% due to the student loan repayment pause in effect from 2020 through September 2023. The repayment pause is ending October 2023.

IGrad - Financial Resources Management

To view content related to Federal Student Loans, including loan repayment and debt management, visit iGrad and sign up for an account. iGrad is an award-winning financial literacy tool that is free for QCC students. It has up to date financial education resources and an active community of members and users. Through articles, calculators, videos, and quizzes, you’ll learn how to improve your overall financial wellness.