Direct Loan Request Page

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Financial Aid

Maximum Annual Loan Amounts
Note: the following loan limits go into effect beginning with the 2008-2009 academic year:

Dependent Students	Base Amount (may be subsidized or unsubsidized)	Additional Unsubsidized Amount		Total Subsidized and Unsubsidized Amount
	up to $3,500 per year	up to $2,000 per year		up to $5,500 per year
1st year - fewer than 28 credits earned
2nd year - 28 or more credits earned	up to $4,500 per year	up to $2,000 per year		up to $6,500 per year
undergraduate aggregate maximum	up to $23,000	up to $8,000		up to $31,000

Independent Students	Base Amount (may be subsidized or unsubsidized)	Additional Unsubsidized Amount		Total Subsidized & Unsubsidized Amount
	up to $3,500 per year	up to $6,000 per year		up to $9,500 per year
1st year - fewer than 28 credits earned
2nd year - 28 or more credits earned	up to $4,500 per year	up to $6,000 per year		up to $10,500 per year
undergraduate aggregate maximum	up to $23,000	up to $34,500		up to $57,500

What Happens Next:

	When you submit a completed online loan request, you will receive an email confirmation.
	Your request will be processed after we have determined that: a. you have filed a FAFSA for the current academic year; b. the information you provided on your FAFSA is correct; c. you have registered for at least 6 credits or the equivalent.
	The Bursar will be notified about your request-in-progress within 3 to 5 business days. When settling your bill, you must mention that you have submitted a direct loan request. Be prepared to show the Bursar your e-mail confirmation.
	Once your request has been submitted to the Dept. of Education, you will be sent a Loan Disclosure Statement in the mail that summarizes information about the type of loan, the approved amounts and the estimated dates of disbursement.
	Your electronic Master Promissory Note (e-MPN) must be acknowledged and approved by the Dept. of Education before any funds can be authorized for disbursement.
	If you don't sign the e-MPN, a paper MPN will be mailed to you about two weeks after your loan request is processed. Sign and return the paper MPN in the envelope provided. Be aware that utilizing the paper method may delay receipt of your loan funds.
	Your loan will be disbursed in at least 2 installments. The first disbursement can be no more than 1/2 of the total approved loan amount. For loans covering the full academic year (Fall & Spring semesters), each disbursement will be about 30 days after the start of the semester. For loans covering one semester, the second disbursement will occur midway through the semester.
	Your class attendance will be checked to make sure you actually began attending your classes and are continuing to attend on at least a half-time (6 credit) basis prior to the release of any loan funds. If you receive a disbursement of Direct Loan funds but know you have never attended a single class, you must return the entire payment immediately to the College.
	The Bursar will deduct unpaid tuition charges from your loan before releasing funds to you. You will be notified via e-mail as to the date your funds become available. All direct loan checks are picked up at the Bursar's Office, Rm S-320.

Return to Federal Direct Loans Request Page

School Codes

FAFSA
School Code
002691

TAP
School Code
1404

Loan Information

Federal Perkins Loan

Federal Direct Loan

Subsidized Direct Loan

Unsubsidized Direct Loan

Consolidated Direct Loan

Direct PLUS Loan

Borrower Responsibilities

Contact Us

By Telephone:

General Information
(24 Hours)

212 220-1430

Reception

212 220-1430

Office Fax
Numbers

212-220-2368
212-748-7479

E-mail: finaid@bmcc.cuny.edu

Need More Help?

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Borough of Manhattan Community College

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