Federal Loans vs. Private Loans

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Federal Direct Student Loans

Federal Direct Student Loans are made by the government, with terms and conditions that are set by law, and include many benefits not typically offered with private loans.

Federal Direct Student Loans are not included in Yavapai College’s offer package.

To receive a Federal Direct Student Loan, students must complete the following steps:

  1. Log into yc.edu > My Account > Student Financials > Financial Aid > scroll to the bottom of the home page. In general links, you will see the "Federal Student Loan Application”

    Print the document and fill out the top portion of the loan application up to and including the signature line in pen. We are unable to accept any form of electronic pen or signatures. Once the loan application is complete, email it to financial.aid@yc.edu.

  2. Complete the Entrance Counseling Form and the Master Promissory Note (MPN) on https://studentaid.gov/.

Entrance Counseling and Master Promissory Note (MPN) completion notifications are sent electronically to YC by the Department of Education regularly. However, it may take 3-5 days to show as a satisfied requirement on your YC My Financial Aid page.

For details about Direct Subsidized and Direct Unsubsidized Loans, visit: https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

Information about Parent PLUS Loans can be found here: https://studentaid.gov/understand-aid/types/loans/plus/parent

Loans Available at Yavapai College

Read about loan borrowing limits here: https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized#how-much

Loan Requirements

Students who borrow under the Direct Student Loan program at Yavapai College are also required to complete Direct Loan Entrance Counseling and a Master Promissory Note (MPN) through studentloans.gov before loans can be released. Students must also complete  exit loan counseling when they graduate, leave school, or drop below half-time enrollment status.

Be advised that credits considered for fall loan eligibility that are not earned in fall, will reduce spring loan eligibility.

If a student attends less than full semester classes ONLY, their Cost of Attendance may be prorated based on the number of weeks they are in attendance. This may limit their loan eligibility for that term.

Direct Student Loan Repayment

For Title IV federal financial aid, students may borrow through the Direct Loan Program, which includes Direct Subsidized and Direct Unsubsidized Loans for eligible students, and Direct PLUS Loans for parents. These loans have fixed interest rates and origination fees set annually by the U.S. Department of Education, and borrowing limits are established based on grade level and dependency status.

Repayment typically begins six months after a student graduates, leaves school, or drops below half-time enrollment. Learn more about specific repayment plans by going here: https://studentaid.gov/manage-loans/repayment/plans

Student Connect is a Yavapai College partner, available to help former students successfully repay their student loans. Their services are FREE to student loan borrowers. For more info, please visit  https://my.studentconnections.com/

Private Loans

Private loans are made by private organizations such banks, credit unions, and state-based or state-affiliated organizations, and have terms and conditions that are set by the lender. Private student loans generally have stricter loan terms and repayment requirements than federal student loans.

Manage Your Debt

Before borrowing, remember that loans must be repaid. Use a loan payment calculator to investigate how much your monthly payment may be before you decide to borrow loans.

Students can review their student loan balance by logging into their FSA account here. You can find information by starting at the FSA Dashboard > View Details. 

Loan FAQ

What are the differences between federal and private student loans?

To learn more about the difference between federal and private loans, go to: https://studentaid.gov/understand-aid/types/loans/federal-vs-private

How do I pay back my federal student loans?

You can find information about outstanding loan balances and repayment by going to: https://studentaid.gov/manage-loans/make-payment  

To receive FREE student loan guidance from YC’s partner, Student Connections, please visit https://my.studentconnections.com/.

Where can I find out how much I've borrowed in student loans?

You can find information on loan and/or grant amounts, outstanding balances, loan statuses, and disbursements by logging into your FSA account at studentaid.gov.

You can learn more about managing your student loans by visiting  https://studentaid.gov/h/manage-loans.