Know Before You Borrow
A loan is a type of financial aid that must be repaid. Make sure you will be able to afford the monthly payment before you borrow. You must repay the funds you borrow, any fees associated with the loan, and any interest that accrues on the loan. All fees are deducted from your loan prior to disbursement. However, you remain responsible for repaying the entire loan amount plus interest. Use Federal Student Aid's Loan Simulator as a tool to calculate estimated student loan payments.
NHCC's 3-year cohort default rate for 2019 was 2.5%. For more information about the national average Cohort Default rate, as well as specifics by institution type, visit Federal Student Aid's default management site.
You must be enrolled in and attending at least 6 credits to receive a loan.
Federal Direct Loan Application Process
- Complete a FAFSA and wait to receive an email from the Financial Aid Office that notifies you that your award notice is ready to view online. The online award notice will list the amount and type of loan that you are eligible to receive.
- All borrowers must complete a Direct Loan Master Promissory Note (MPN), loan entrance counseling session, and loan application. To apply for a loan or to check your application status, go to your e-Services account . Choose Financial Aid from the menu and select the Loan option.
Note: The loan amount requested is for the year and will be equally split between the fall and spring semesters. You have the right to cancel or reduce any loan amount by making the request using the online Direct Loan Change form within 14 days of the loan disbursing.
Federal Direct PLUS Loan Application - Parent
- Complete a FAFSA and wait to receive an email from the Financial Aid Office that notifies you that your award notice is ready to view online.
- Complete the Direct PLUS Loan Master Promissory Note (MPN).
- Complete the Direct PLUS Loan Request Form.
Note: The parent borrower has the right to cancel or reduce any loan amount by making the request in writing to the Financial Aid Office within 14 days of the loan disbursing.
Other Loan Options
Alternative loan options are available, but should only be considered after federal loan options have been exhausted. Interest rates, fees, terms, and conditions will vary by lender.