Federal Direct Loan Instructions

Direct Loans are low‐interest loans for students and parents to help pay for the cost of a student's education. The lender is the U.S. Department of Education rather than a bank or other financial institution. Direct Loans are a form of financial aid and must be repaid with interest.

Bakersfield College strongly encourages students to apply for grants or scholarships before borrowing a student loan. A student loan is a serious long‐term obligation that should be used only as a last resort. If it is necessary for you to apply for a student loan, you must complete all required steps for processing of the Direct Loan.

NOTICE: Bakersfield College, at the direction of the US Department of Education, has a thorough default prevent plan in place to help students make better decisions about student loans and successfully navigate repayment requirements after graduation. When a student initiates a loan and goes through the approval process, Bakersfield College ensures that the student has a clear understanding of repayment options, connection to loan servicing agencies, and a solid educational plan that leads to program completion.

For Private Loans- All Veterans must meet with a Financial Aid Loan Technician to discuss loan options. 

The Direct Loan Program offers the following types of loans:

Subsidized

For students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least halftime, during the grace period, and during deferment periods.

Unsubsidized

Not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.

Funds are disbursed in 2 payments each semester. You must meet all eligibility requirements each payment date in order for funds to be released.

To apply for a Direct Loan you must meet the following eligibility requirements:

• Your Financial Aid Awards must be finalized in order to apply for a Federal Direct Loan.
• You must be enrolled in at least 6 degree applicable units in an eligible program of study at Bakersfield College. Wait listed courses do not count.
• Bakersfield College must be declared as your home school. (The school you intend on graduating from.)
• You must maintain Satisfactory Academic Progress as outlined in the Terms of Agreement for Bakersfield College.
• You must have a declared major and educational goal and be following a Comprehensive Student Educational Plan.
• Students on Financial Aid Suspension are ineligible for Direct Loans.

New and Renewal Borrowers

You are required to schedule a MANDATORY Student Loan Borrower Counseling workshop session. Workshop sessions are available in-person or via zoom. Steps are made available online through verification connection after 72 hours of orientation being completed.

Note: Payment will not be issued until on or after census date which is September 5, 2023 for Fall 2023, January 30, 2024 for Spring 2024 and May 21, 2024 for Summer 2024 and disbursed according to your Bank Mobile disbursement preference.

Important! Bring a photo ID if you are attending an in-person counseling session. Government issued photo ID is required to be uploaded to both New and Renewal students verification connection.

Cell phones must be silenced during orientation and the counseling session.

Steps to Complete Loan Process

Complete, print and sign (in ink) each form. Scan (or take a picture with your phone) the form(s) or confirmations and upload through your Verification Connection link in the Financial Aid section of InsideBC. All of the following must be submitted through your Verification Connection.

Loan Request

1. Download and print the Direct Loan Request and Terms form
2. Read and sign the Bakersfield College Federal Direct Loan Request and Terms
3. Scan (or take picture with your phone) the signed Federal Direct Loan Request Terms.
4. Submit your document through your Verification Connection

During your Online sessions, you will observe: Information disclosed to students or parents of students who enter into an agreement regarding a Title IV, HEA loan that the loan will be submitted to NSLDS and accessible by authorized agencies, lenders and institutions [HEOA 489 amended HEA Sec. 485B]

Entrance Counseling and Annual Student Loan Acknowledgment 

New Borrowers with Bakersfield College

MANDATORY

1. ➠ Complete Loan Entrance Counseling
2. Use your Federal Student Aid (FSA) ID to log in
3. Print and scan, save as PDF, or take a picture with your phone of the confirmation that you completed the Loan Entrance Counseling
4. Submit confirmation through your Verification Connection.

New and Renewal borrowers with Bakersfield College

MANDATORY

1. ➠ Complete Annual Student Loan Acknowledgment
2. Use your Federal Student Aid (FSA) ID to log in
3. Print and scan, save as PDF, or take a picture with your phone of the confirmation that you completed the Annual Student Loan Acknowledgment
4. Submit confirmation through your Verification Connection.

Master Promissory Note (MPN)

New Borrowers

1. ➠ Complete a Master Promissory Note (MPN)
2. Use your Federal Student Aid (FSA) ID to log in
3. Print and scan, save as PDF, or take a picture with your phone of the confirmation that you completed the MPN
4. Submit confirmation through your Verification Connection.

Renewal borrowers

1. ➠ Update your Master Promissory Note (MPN)
2. Use your Federal Student Aid (FSA) ID to log in
3. Print and scan, save as PDF, or take a picture with your phone of the confirmation that you completed the MPN
4. Submit confirmation through your Verification Connection.

Financial Aid TV (FATV)

New Borrowers

Complete the following sessions and submit confirmation through Verification Connection.

1. Student Loan Basics
2. Money Management

Renewal Borrowers

Complete the following session and submit confirmation through Verification Connection.

1. Fundamental on Student Loans and Repayment

➠ FATV requirement

Additional References

New and Renewal Borrowers

ALL borrowers must provide two (2) additional references, preferably family members, on the Direct Loan Reference Sheet. Do not list references used on the Master Promissory Note (MPN). All references will be verified. If we are unable to verify references, we will not be able to process your Loan Request. Submit confirmation through Verification Connection.

Comprehensive Student Educational Plan (CSEP)

New and Renewal Borrowers

ALL borrowers must upload a student educational plan that reflects their current educational pathway. You can obtain one by either meeting with an Educational Advisor OR Counselor.

Create an Account with Assigned Loan Servicer

Renewal borrowers ONLY

Create account with the MOST RECENT loan servicer and provide proof of established account.

1. Log in to the National Student Loan Data System (NSLDS)
2. Click "Authorization" to see your assigned loan servicer.
3. Go to your assigned loan servicer's website and establish an account with them
4. Submit a scan, picture or PDF of a confirmation page showing you have successfully established an account with your loan servicer through your Verification Connection. If you have multiple servicers, submit a confirmation for each loan servicer.

Upload Government Issued Photo ID

BC Student ID is not acceptable. Examples of a government issued photo ID are: Driver's license, state issued ID, or United States passport.

You must complete ALL STEPS in order for your loan to process and receive payment. If you are missing a step, you will not receive a loan disbursement.

Once a Student Progress Report signed by all instructors reflecting satisfactory grades (C or better) in ALL attempted courses, funds will be released.

All on‐line course instructors must e‐mail grades directly to the Office of Financial Aid.

Processing may take up to 3‐4 weeks (may change during peak times).

Keep in Mind: You are required to complete Exit Counseling once you graduate, leave school, or drop below halftime enrollment. Exit Counseling provides important information you will need as you prepare to repay your federal student loan(s).

Student Loan Application Deadlines

Contact Financial Aid

Federal School Code: 001118

Phone: (661) 395-4428 | Fax: (661) 395-4688 | Email: bc_faid@bakersfieldcollege.edu

Address:
Bakersfield College
Office of Financial Aid
1801 Panorama Dr.
Bakersfield, CA 93305