- Direct Lending Loan web site - Once you have accepted a student loan on
Cougar Web, the system will create an electronic loan application. The loan
application will then be transmitted electronically to the Direct Lending platform.
Once there, you will be notified via e-mail to log in to the site and complete the
loan application including signing your master promissory note.
You will need your FAFSA PIN in order to sign in.
In addition, the studentloans.gov web site can provide answers regarding types of
student loans, interest rates, repayment responsibilities, entrance counseling, exit
counseling, consolidation, loan services and rights and responsibilities as a student
and of the school.
- Entrance and Exit Counseling - All first time loan borrowers at Collin are required
to complete entrance loan counseling. All students who fall below half time and/or
leave Collin are required to complete exit loan counseling.
(All students receiving Stafford loans MUST be attending at least half time to be
eligible for the loans.) - Net Price Calculator - An excellent financial aid calculator published by the
College For All Texans web site.
- Education Tax Credits - IRS Publication 970. Tax Benefits for Education
- Selective Service - Men aged 18-25 are required to register with Selective Service.
Students who are required to register with the Selective Service must do so to be
eligible for Federal Student Aid funds.
- National Student Loan Data System - All loans; subsidized, unsubsidized and
parent PLUS loans awarded through Collin College will be submitted to the
National Student Loan Data System (NSLDS) and will be accessible by guaranty
agencies, lenders and schools determined to be authorized users of the data system. - The Texas Higher Education Coordinating Board - also known as THECB.
THECB's web site contains a wealth of information about higher education in the
state of Texas, including sources of financial aid such as exemptions and waivers.
Check out that part of their web site at College For All Texans. Click on "Apply for
Financial Aid" in the menu bar on the left, then "Types of Financial Aid" on the right. - Federal Student Aid Information - (800) 433-7327
- Federal Student Aid Ombudsman - (877) 557-2575
- Direct Loan Servicing Center - Borrower Services - (800) 848-0979
- Direct Loan Consolidation Center - (800) 557-7392
- COD School Relations - Applicant Services - (800) 557-7394
Beyond High School
View the power point presentation here for information about the various types of financial aid and how to get started.
This is the same basic presentation we use at all Financial Aid presentations during
the year.
Other Important Information
Income-Based Loan Repayment program or IBR
On July 1, 2009, a major new student loan repayment option will become available
for the
first time. Income-Based Repayment (IBR) caps monthly federal loan payments at
an
affordable level based on your income and family size, and forgives any debt and
interest
that remains after 25 years. If you owe more on your federal student loans than
you earn
in a year, you can probably benefit from IBR. The lower your income, the lower
your
monthly payment will be: in some cases, as low as $0. IBR is available for almost
all
federal loans - past, present, or future - made by any lender, whether for college
or
graduate school.
For more information, including a simple calculator to estimate monthly payments,
please visit www.IBRinfo.org.