DCCCD started participating in a
new federal student loan program this school year, and we know that the changes may be confusing.
The District Office of Financial Aid and our college
Financial Aid Offices have been adjusting to the new program’s requirements too. We’re working through the challenges of this new process to try to make it as smooth as possible for you.
What You Should Know
Here’s some information we’d like to share with you that may help answer some of your questions about the new federal student loan program.
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The process now works differently. In the past, banks provided federal student loans, but the U.S. Congress discontinued that program. All federal student loans are now processed directly by the U.S. government. (You may hear it referred to as “direct lending.”) Banks are no longer involved.
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The application process is different. Visit
Applying for a Loan for more information.
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It will take longer to get your money. It may take up to 20 days before you receive what is called a “disclosure statement” from the U.S. government confirming your loan. If you still haven’t gotten this statement 20 days after completing the application process, please contact your college’s
Financial Aid Office.
For more information, see
Getting Your Loan Money and the
Financial Aid Disbursement Schedule.
For More Information