Financial Aid Dollars
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Loan Facts

Federal Direct Stafford Loans - a federal student loan, made through the William D Ford Federal Direct Loan Program, for which eligible students borrow directly from the U. S. Department of Education at participating schools. Direct Subsidized, Direct Unsubsidized and Direct Consolidation Loans are types of Direct Loans.

Subsidized Loan

This loan is based on financial need for which the federal government pays the interest that accrues while the borrower is in school, grace or deferment status. Beginning with the 2012-2013 academic year, new borrowers will have a limit on the amount of subsidized loans.

Please be sure to read about the limit on the amount of subsidized loans. It is important for all students.

Unsubsidized Loan

This is a loan where the borrower is fully responsible for the paying of the interest regardless of loan status. Interest accumulates from the date of disbursement. UCC does not offer this loan at the time of the initial award. Students have to apply for it. The unsubsidized loan request form is located with the Financial Aid Forms and Publication.

Entrance Counseling

Entrance counseling is required by the federal government for all first time loan borrowers at Umpqua Community College. The counseling is completed online and UCC will be notified electronically within in 24-48 hours. Once this has been completed it should be a satisfied requirement for subsequent academic years. Entrance Counseling will help borrowers to understand:

  1. Their rights and responsibilities as a borrower
  2. The terms of their loan
  3. Repayment obligations and consequences of non-payment

Master Promissory Note (MPN)

The Master Promissory Note is also required by the federal government when a student chooses to borrow money. This is the official document that a borrower must sign as a promise to repay their loans. This is completed on line and UCC is notified electronically within 24-48 hours.

Exit Counseling

When a student graduates from UCC or is no longer enrolled at least half time (6 credits) exit counseling has to be completed. This is a federal requirement. Exit counseling is completed online. The exit counseling session will explain the borrower’s loan obligations and various pay back options that student borrower has. A student will be reminded via their student email and student requirements that they have to complete exit counseling. It is the student’s responsibility to ensure this is completed.