Loan Information

borrow smart

The “Borrow Smart” campaign was developed to educate students regarding their rights and responsibilities as borrower’s and how to manage their student loan debt.

3 year cohort default rate – 31.7%

Loan:

In conjunction with the "Borrow Smart" campaign and due to the Loan Education, Justification, Application Policy, effective 6-24-13 student loans will no longer be offered as part of your financial aid award package.  If you need to apply for a loan:

  • Please go to www.newriver.edu, quick links, financial aid, financial aid forms and then select Loan Application
  • Print the form and complete it entirely making sure to attach all requested documentation.
  • Please take the form to you local Financial Aid Counselor for review.  If you mail your form, please be aware that insuffcient documentation will result in non-review.

Entrance Counseling

If you are borrowing a federal loan for the first time, you are required to complete an entrance counseling session. Click here for a printable brochure on loan entrance counseling. The counseling may be done online at http://www.studentloans.gov.

Master Promissory Notes

If this is your first Direct Loan, your Master Promissory Note (MPN) will be available at http://www.studentloans.gov within a week after you accept the loan. You will need your FAFSA PIN. Results will be sent electronically to the New River CTC Financial Aid Office. A valid MPN with references and valid signature must be completed before any loan funds will be disbursed to your account.

Exit Counseling

Click here for a printable brochure on loan exit counseling. To complete exit counseling, please go online at http://www.studentloans.gov.

 

National Student Loan Database (NSLDS)

You have the right to access the NSLDS to obtain information about your Federal student loan borrowing at New River CTC.

Internet: http://www.nslds.ed.gov

Note:  You will need your Department of Education issued FSA User ID.  If you have lost or don’t remember your FSA User ID, it can be retrieved at: https://studentaid.ed.gov/sa/fafsa/filling-out/fsaid.

 

 

 

 

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Federal School Code for FAFSA: 039603

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New River CTC will be closed Monday, December 25, 2017 through Monday, January 1,2018 for the holiday break. The College will reopen Tuesday, January 2, 2018.