Financial Aid Services

The William D. Ford Direct Loan Program

Edmonds Community college offers Direct Stafford Loan funds through the federal Direct Lending Program. The William D. Ford Direct Loan website provides detailed information about taking out a student loan as well as useful tools to help you manage your student loan, determine how much you can/should borrow, repayment information, and up to date interest rates.

How Do I Apply For A Direct Loan?

  • Complete the Loan Request section on the Information Sheet – click on forms to the left.

  • You may also complete the loan section on the Financial Aid Change of Information form.

  • See the chart below to determine how much you want to borrow for the school year.

  • Complete the online Entrance Loan Counseling session – required if this is your first time to take out a Direct Loan at Edmonds Community College.

  • Sign the Master Promissory Note (MPN) online using your Federal PIN if this is your first time to take out a Direct Loan at Edmonds Community College. 

How Much Can I Borrow?

Year in School

Subsidized Loan*

Unsubsidized Loan**

Dependent – parent included on FAFSA
1st year – less than 45 college level credits

$3500

$2000 $5500
(combined max $5500)

Dependent – parent included on FAFSA
2nd year – 45 or more college level credits

$4500

$2000 $6500
(combined max $6500)

Independent
1st year – less than 45 college level credits

$3500

$6000 $9500
(combined max $9500)

Independent
2nd year – 45 or more college level credits

$4500

$6000 $10,500
(combined max $10,500)

Other Notes and Reminders

  • *Subsidized Loans are interest free while you attend school at least half-time (6 credits).
  • **Unsubsidized Loans begin to accrue interest at the time funds are disbursed to you, and continue to accrue interest until the loan is paid in full.
  • Register for at least six approved/required credits each quarter.
  • Submit a new loan request if you skip a quarter of enrollment.
  • Loans approved for one quarter may require two disbursements. One at the beginning of the quarter and one midway through the quarter. This requirement can change from year to year.
  • First time borrowers who are also in the first year of their degree program may need to wait 30 days to receive their first disbursement. This requirement can change from year to year.
  • You may cancel your loan any time prior to disbursement of funds each quarter.
  • You may apply for a loan at any time during the school year. We cannot process a loan for a school year that has ended and we typically stop processing loans two weeks prior to the end of spring quarter.
  • We receive loan funds by electronic transfer from the Department of Education. Once we receive your loan funds we first pay any unpaid tuition, fees, and campus housing. Any remaining balance is disbursed by Higher One who we've contracted with to disburse all financial aid funds.
  • Once a loan has been certified, it typically takes two additional weeks for us to receive your funds, provided you have completed the Online Entrance Loan Counseling session and signed your Master Promissory Note if required.