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Federal Loans

Federal Direct Loan Program

Independence Community College participates in the Federal Direct Loan Program. Student loans may be borrowed by qualified students enrolled in eligible certificate or degree programs. Student loans are expected to repaid by students regardless of whether the student is successful in completing the program and obtaining employment.

Additional Information about student loans is located at »

including, but not limited to:

  • student eligibility,
  • terms of student loans,
  • sample loan repayment schedule,
  • the necessity for repaying student loan,
  • and terms and conditions of the loans students receive under the Direct Loan program.

Direct Loans may be subsidized and/or unsubsidized, based on financial need.

Subsidized Loans:

  • Are need-based loans
  • Eligibility is based on cost of attendance, expected family contribution (EFC), awards, and other eligible financial assistance
  • Interest is paid by the government while in school, as long as students complete the program of study declared while first receiving the subsidized loan.
  • Payments are deferred until students: students leave school or drop below-half-time enrollment

Unsubsidized Loans:

  • Are non-need based loans
  • Eligibility is based on cost of attendance, awards, and any other eligible financial assistance
  • Students are responsible for paying the interest while in school.
  • Payments are deferred until students: students leave school or drop below-half-time enrollment

Exit Counseling:

  • The Department of Education requires students who have taken out student loans to complete exit counseling when they leave ICC.
  • Academic Transcripts will be placed on hold until the Office of Student Financial Aid receives notification that exit counseling has been completed. 
  • Exit Counseling is completed online at www.studentloans.gov

Applying for Student Loans

Step 1: . Log in to the ICC online financial aid system at https://selfservice.indycc.edu/netpartnerstudent/

Step 2: Under “Accept My Awards” view and accept the amount and type of loan you wish to receive;

  • For traditional enrollment, the awards listed are an annual award, you will receive one-half during the fall/spring terms
  • If you do not see your student loans available to request, contact our office at financialaid@indycc.edu

Step 3:  Under “My Documents” complete the documents required to receive the loan funds:

  • First time borrowers must complete Entrance Counseling at www.studentloans.gov
  • All borrowers must complete a Master Promissory Note at www.studentloans.gov
  • All borrowers must complete the ICC Loan Reference Form
  • Some borrowers may be required to complete the Student Affidavit

Step 4: Ensure all other financial aid documents are submitted & approved:

  • High school  transcript or equivalent
  • All official college transcripts
  • Statement Expectations and Responsibilities
  • Any verification documents required by the Dep’t of Education and ICC

Step 5: Receive your disbursement on the scheduled disbursement date

  • Loan funds are disbursed with all other forms of financial aid (Pell grant, SEOG, scholarships, etc.)
  • You must be attending courses to receive funds
  • First time borrowers must wait a minimum of 30 days before they may receive loan funds
  • See our deadlines and corresponding disbursement dates at http://www.indycc.edu/financial-aid/deadlines

Step 6: Complete Exit Counseling at the time of graduation, falling below half time or leaving ICC

  • You must complete Exit Counseling at www.studentloans.gov if you graduate, leave ICC or fall below half-time (6 credit hours)
  • You will be unable to receive an official ICC transcript without having completed Exit Counseling

Federal PLUS Loan Program

Step 1: The parent must complete the ICC PLUS Loan request and authorization form. The form is available here: http://www.indycc.edu/financial-aid/forms

  • Upon receipt of the form, the financial aid office will perform the Dep’t of Education approval request process and inform you of (a) whether you were approved; and (b) if you were approved, the amount you qualify for in loan funds
  • If you are approved, proceed to the remaining steps

Step 2: Complete PLUS Loan Entrance Counseling

Step 3: Complete PLUS Loan Master Promissory Note

 Step 4: Receive the financial aid disbursement on the scheduled disbursement date

  • Loan funds are disbursed with all other forms of financial aid (Pell grant, SEOG, scholarships, etc.)
  • The student must be attending courses to receive funds
  • First time borrowers must wait a minimum of 30 days before they may receive loan funds
  • See our deadlines and corresponding disbursement dates at http://www.indycc.edu/financial-aid/deadlines

 

ICC Student

Contact Us

Financial Aid Office
Send an E-mail
Phone: 620-332-5460
Fax: 620-332-5660
Location: Administration Building, Room 110

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Laura Allison
Director

Michelle Pereira
Financial Aid Specialist

Megan Royse
Financial Aid Specialist


Financial Affairs Specialist