To receive federal financial aid—including grants and loans—you must first complete the Free Application for Federal Student Aid (FAFSA). Federal loans help students pay for their education and must be repaid. You may choose to decline a loan or borrow less than the maximum amount offered.

Federal Direct Subsidized Loans

• Available to undergraduate students who have not earned a bachelor’s degree
• Must be enrolled in at least six financial‑aid‑eligible credits applicable to your major
• Low interest rate
• The federal government pays the interest while you are in school
• Awarded based on financial need

Federal Direct Unsubsidized Loans

• Must be enrolled in at least six financial‑aid‑eligible credits applicable to your major
• Interest begins accruing on the day of disbursement
• You may choose to pay interest while in school

Entrance Counseling

Entrance Counseling helps first‑time borrowers understand their responsibilities before taking out federal student loans. It must be completed before loans can be disbursed.

• Required for first‑time loan borrowers
• Valid for ten years once completed

Master Promissory Note (MPN)

The MPN is your legal agreement to repay federal student loans. It covers multiple loans and remains valid for several years.

• Required for first‑time loan borrowers
• Valid for ten years, unless no loan is certified—then valid for one year

Federal Direct Parent PLUS Loan

1. Parents of dependent undergraduate students may apply to help cover educational costs
2. Requires a PLUS Loan application and credit check
3. Parent must meet federal aid eligibility and credit criteria
4. Student must be enrolled in at least six credits in a financial‑aid‑eligible program
5. Total loan amount cannot exceed the student’s cost of attendance
6. If approved, the parent must complete the PLUS Master Promissory Note at studentaid.gov
7. If denied, the parent will receive notice by mail; the student should contact the Financial Aid Office to discuss additional unsubsidized loan eligibility

Private Education Loan

• Students are strongly encouraged to maximize federal loan options first

Exit Counseling

• Required for borrowers who graduate, drop below six credits, or leave school

Student Loan Cohort Default Rates

To view Northland’s cohort default rate:

1. Under “Cohort Default Rates,” open the Three‑Year Searchable Default Rate Database.
2. Enter 002385 for the OPE‑ID and select Search.
3. Click on Northland Community & Technical College to view rates for the past three years.

• National Student Loan Cohort Default Rate
• Northland Cohort Default Rates (PDF)