STUDENT LOANS

Rend Lake College participates in the Federal Direct Loan program. Federal Direct Loans are either Subsidized or Unsubsidized.

To qualify for a subsidized loan, the student must demonstrate financial need; unsubsidized loans are open to all students. While the student is in school, payment of principal is deferred on both types of loans. Interest on subsidized loans is paid with federal funds, whereas the student is responsible for accrued interest on unsubsidized loans. The amount and type of loan that a student may borrow at Rend Lake College will vary depending on the student’s financial need and other sources of aid being received. A student can borrow no more than $20,000 total in student loans throughout their academic career at Rend Lake College.

Loan maximums for students attending RLC:

Loan Refunds
Rend Lake College will issue first disbursement of loan refunds no earlier than 30 days into the semester; second disbursement, no earlier than 30 days into the second semester.

REQUIREMENTS:

1. Apply for Financial Aid at http://www.fasfa.gov.

2. Complete Entrance Counseling

• Go to www.studentloans.gov.
• Click on the green “Sign-In” button on the homepage.
• Input your Social Security Number, first two letters of your Last Name, your Date of Birth and your Federal Student Aid PIN Number to gain access to the website. If you do not remember your PIN Number, you can Request a Duplicate at www.pin.ed.gov.
• Click on “Complete Entrance Counseling”. The website will then prompt you to click the same link on a new page.
• Identify yourself as an undergraduate student.
• Review the content and answer the corresponding questions.
• The website will then display your Direct Stafford (Subsidized and Unsubsidized) Loan Rights and Responsibilities as a borrower. You must click on the link to view this page before you can submit the Entrance Counseling. You should also print this page for your records.
• A “Congratulations” page will then be displayed to confirm that you have successfully completed Entrance Counseling.
• REMAIN ON THIS PAGE TO BEGIN THE MASTER PROMISSORY NOTE.

3. Complete the Master Promissory Note

• TO COMPLETE THE MPN, YOU WILL NEED YOUR DRIVER’S LICENSE NUMBER, FEDERAL STUDENT AID PIN NUMBER, AND NAMES, ADDRESSES AND TELEPHONE NUMBERS FOR TWO REFERENCES RESIDING AT SEPARATE ADDRESSES.
• On the left-hand side of the page, click on “Complete MPN”.
• Click on “Subsidized/Unsubsidized”.
• Input your Personal and Reference Information.
• You must view all sections of the MPN before clicking the acknowledgment box.
• Sign the MPN by inputting your First Name, Middle Initial and Last Name.
• You must click on “HTML Version” to view the completed MPN before continuing.
• The final page will thank you for completing the MPN. This is your confirmation that this step has been successfully completed.

4. Make an Appointment with Fiancial Aid

After the Master Promissory Note has been completed, there are two options. If you have not taken out a loan at Rend Lake College within the last year, you must schedule an appointment to speak to Doug Carlson, Director of Financial Aid, to receive further information and make decisions regarding your loans. You may contact the Financial Aid office to make an appointment by calling (618) 437-5321, ext. 1385.

Students who had a loan at Rend Lake College during the previous school year and are interested in applying for a loan for the current year or students who are simply making an adjustment to or cancelling a current student loan are not required to meet with Doug Carlson. These students can add or adjust a loan by filling out a Direct Loan Request Form in the Financial Aid Office or by filling out the form from the link listed below. If the form is being printed from this website, it needs to be completed, signed, and returned to the Financial Aid Office. It can be mailed or faxed, and the contact information is listed on the form.

Click here to complete the Direct Loan Request Form 2010-2011