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Loan Application and Packaging Information

Published or Revised May 18, 2022

Loan Policy

Paris Junior College (PJC) will begin participating in the William D. Ford Federal Direct Stafford Loan Program (Direct Loans); a Federal Title IV Program, starting in the fall term of 2018. It is the primary goal of the Financial Aid Office at Paris Junior College to help students gain understanding of the responsibilities of utilizing Federal Direct Loans. Loans should be taken out as the last alternative for financing a student’s education. It is also recognized that is some cases, a student loan may be the only alternative available to assist with their educational expense.

Students interested in a Federal Direct Loan at PJC must complete the Free Application for Federal Student Aid (FAFSA) and submit all required documents needed to complete the application process. Paris Junior college strongly recommends a total borrowing limit of $15,000. This loan limit includes all student loans, including amounts received from other institutions. Private loans are not guaranteed by the federal government and do not provide the same benefits to students as federal loans. For this reason, and our low costs, PJC does not endorse, certify, or participate in alternative loan programs.

Direct Loan Packaging

A statement will be included on the Financial Aid Award Letter sent to students via mail indicating that the student may be eligible for student loans as an option. Students wanting more information are instructed to contact the PJC Financial Aid Office to request more information and/or a Federal Student Loan Request Packet.

PJC will only process Federal Direct Loans for the following enrollment periods; fall and spring. Summer Federal Direct Loan requests will only be considered for Associate in Applied Science or certificates in the following programs of study: Welding, Horology, Jewelry, Jewelry Technician (Computer Aided Design, Repair Technician), Vocational Nurse (LVN), Associate Degree Nursing Program (ADN), Radiology Technology, Emergency Medical Services - Paramedic, Surgical Technology and Air Conditioning & Refrigeration, since these programs often require summer enrollment.

Federal Direct Loan Application Requests

A student who is requesting to have a Federal Direct Loan as a part of their award package must complete the Paris Junior College Federal Student Loan Request Packet (FSLRP). The potential student borrower must submit a completed FSLRP with printout of NSLDS loan history (if applicable), print out of successful completion of the Financial Awareness Counseling available online at, and Financial Aid Loan Budget Worksheet.

Deadline for FSLRP submission will be the Friday of the first week of class for the fall, spring and summer terms only. Specific deadline dates for each of the terms are listed on the Federal Student Loan Request Packet. Incomplete packets will not be accepted, held for additional documents or processed. Students submitting a FSLRP should be requesting for the academic year, not just term.

Students will only be allowed to submit one Federal Student Loan Request Packet (FSLRP) per academic year. A potential borrower must accept any aid that has been awarded through the PJC student portal, be enrolled in a minimum of 6 credit hours required for the student’s declared academic program, and meet Financial Aid Standards of Academic Progress, prior to processing of the FSLRP.

Award and Disbursement Procedures

Completed FSLRP’s will be processed by the Official Reporting Date (ORD). Loan(s) awarded must be accepted by the student through the PJC student portal by ORD to prevent a drop for non-payment. A loan offer in a “pending” status will not prevent a drop for non-payment. A “pending” status is defined as an award offer that is waiting for the student’s action of acceptance through the Net Partner student portal.

Student borrowers are required to complete the Direct Loan Entrance Counseling (DLEC) session and Master Promissory Note (MPN) at the PJC Testing Center. Students will be required to complete the Direct Loan Entrance Counseling and Master Promissory Note on an annual basis, or more frequently on a case by case basis. After completing the counseling and MPN, each student will meet in person with PJC financial aid staff to review and verify references. If references cannot be verified, the loan will be cancelled.

Both the Direct Student Loan Entrance Counseling and Master Promissory Note (MPN) will need to be complete before any accepted loan awards can be credited to the students billing account at PJC. PJC will provide additional group Direct Loan Entrance Counseling sessions each term for student borrowers to participate in. Students will have 30 days from ORD to complete the Direct Loan Entrance Counseling (DLEC) session and Master Promissory Note (MPN). If the DLEC and MPN are not completed within this time frame the loan offer/acceptance will be cancelled and assessed on a case-by-case basis.

Loan disbursements occur in two payments each fall and each spring term. First disbursement will occur after ORD and the second will occur after the last day to drop/withdraw. Students will typically receive one-half of the loan in each payment. Paris Junior College defines the loan period based on the projected enrollment of the student. If a student receives loans from another school within the same loan period, then we must consider all loans received and certify only the remaining loan eligibility. Disbursements to the business office and refunds of loan fund(s) to the student may be delayed due to various start dates or non-traditional class formats in which the student is registered.

Federal Direct Loan Exit Counseling

The U.S. Department of Education requires that a student participate in Federal Direct Loan Exit Counseling for a student who has taken out a Federal Direct student loan, or when a student withdraws, graduates, drops below half-time attendance or plans on transferring to another school. PJC requires the student to complete counseling in group exit counseling sessions that will be offered at the end of each academic term (fall, spring and summer).

If a student fails to complete Federal Direct Loan Exit Counseling, they will receive a letter directing them to the Federal Direct Loan Exit Counseling website. After 30 days, if student still has not completed exit counseling the Financial Aid Office will send out an Exit Counseling Guide provided by the U.S. Department of Education. Every attempt will be made to assist the student in completing the exit counseling before he or she leaves campus. Transcript holds will be placed on students’ accounts until they have completed exit counseling.