Federal Direct Loans

William D. Ford Federal Direct Loan

Casper College is a Direct Lending school, which means Casper College offers Direct Stafford and Parent PLUS loans directly through the Department of Education, rather than through individual banks. Unlike grants or work-study, a loan is money that must be repaid. You, the student, must repay your loans even if you do not complete your academic program. You are legally obligated to repay your loans, so we encourage you to fully read and understand the terms and conditions of each loan type before accepting the loan.

How to Request a Student Loan at Casper College

Your Award Notice may contain an estimated amount of Direct Stafford Loan eligibility. Borrowing less than the amount listed on the Award Notice is encouraged. There is a four (4) step process to obtain a student loan at Casper College (additional steps are required for Parent PLUS loans). The links to begin the request process are located at the bottom called "Loan Request Process".

Keep in mind, all loans will have at least two disbursements. Contact Enrollment Services if you are not sure when to expect your student loan disbursements. After your loan has been processed you will receive a loan delivery letter with your disbursement dates. Also, if you are a first-time college student and a first-time student loan borrower, regulations require that your first loan disbursement be delayed until 30 days after the start classes.

Loan Request Process

  • Complete the FAFSA using your FSA ID
    (Casper College School Code: 003928)
  • Log into www.studentloans.gov to complete the following
    • Entrance Counseling
    • Master Promissory Note
  • Complete Casper College Loan Request Form
  • Additional steps are required for Parent PLUS loans

Entrance Counseling

  • Click the above link, sign in, and from Counseling select "Complete Entrance Counseling."
  • The purpose of Entrance Counseling is to ensure you understand the terms and conditions of your loan prior to your loan disbursing.
  • This is required for all first time Direct Loan borrowers. Your loan will not be processed until Casper College receives record of your completed Entrance Counseling.

Master Promissory Note

  • This is required for all first time Direct Loan borrowers.
  • Click the above link, sign in, and from Master Promissory Note select "Complete MPN."
  • Students will need social Security number, driver's license number, and Department of Education PIN.
  • Students need only complete one Master Promissory Note every ten years.

Student Loan Request Form

Parent PLUS Loan  - all steps must be completed
  1. Navigate to www.studentloans.gov and click Login
  2. Log in with your FSA ID
  3. Click Apply for a PLUS Loan under PLUS Loan Process
  4. Complete PLUS Counseling under PLUS Loan Process
  5. Complete PLUS MPN for Parents under Master Promissory Note

 Exit Counseling
Completed after you graduate or stop attending Casper College

  • The federal government requires you complete a student loan Exit Counseling session prior to graduating or stopping at least half-time attendance.
  • The purpose is to help you understand your rights and responsibilities as a student loan borrower.
  • An Exit Counseling session will offer repayment information as well as contact information for student loan servicers.

ATTENTION: CASPER COLLEGE FEDERAL STUDENT LOAN BORROWERS!

 We have begun working with Loan Science, the leader in federal student loan debt management counseling.

 Questions about how to best manage your federal student loans can be answered by contacting Loan Science:

              Phone: 866.311.9450

              Email:  contact@loanscience.com

  Mail: Loan Science

              P.O. Box 81671

              Austin, Texas  78708-9921

Looking for repayment options that best fit your current budget?  Loan Science can assist you with that too!  Loan Science works on behalf of Casper College to help you successfully repay your federal student loans. Loan Science may also contact you periodically about your loans to offer support.

Questions and Other Information about the specifics on student loans?

Click the red link to learn more details about Direct Stafford Loan, including the different loan types, interest rates, repayment options, etc.

Code of Conduct
To review Casper College's Title IV Loan Code of Conduct please click here.

Loan Maximums

Loan Repayment

Alternative Loans

  • Alternative loans are available to students who are not eligible for federal loans or who need additional assistance beyond their financial aid offer. The funds are borrowed through private banks.

Consolidating Loans

  • If you have multiple federal education loans, you can consolidate them into a single Direct Consolidation Loan. This may simplify repayment if you are currently making separate loan payments to different loan holders, as you'll only have one monthly payment to make. There may be tradeoffs, however, so you'll want to learn about the advantages and possible disadvantages of consolidation before you consolidate.
  • To learn more, visit the Direct Consolidation Loan website.

Calculators

  • This  Budget Calculator will help you determine your expenses and estimate your total available income.
  • Visit Direct Consolidation Loans for a calculator that can help determine if a consolidation loan would be right for you.

Helpful Websites

 

For more information please contact Enrollment Services at 307-268-2323