Loan Information

Student Loans

Federal Direct Stafford Loan (subsidized):  This is a need-based program. Repayment on this loan begins 6 months after a student either graduates, stops attending or drops below half time enrollment.  The interest is subsidized by the federal government while a student is enrolled at least half time and until repayment begins.  If a student is offered a subsidized loan, additional steps are required before it is disbursed.  The student must be enrolled at least half time in order to qualify.  The award amount varies based on a student’s eligibility.

Federal Direct Stafford Loan (unsubsidized): This is NOT a need-based program. The interest on an unsubsidized loan is NOT subsidized by the federal government.  Interest accrues on this loan while is in school. If a student is offered an unsubsidized loan, additional steps are required before it is disbursed.  The student must be enrolled at least half time in order to qualify.  The award amount varies based on a student’s eligibility.

For more information on the Direct Loan Program please click here: Federal Direct Stafford Loans

*NOTE: If you are a first-time borrower and a first-time freshman, you will have a 30-day delay on your loan(s).

Entrance Counseling is required by the federal government for all first-time borrowers at Clatsop.  The information provided during the entrance counseling session is intended to assist you in understanding how to manage your student loan and the commitment that comes with the acceptance of the loan.  Above all, you must realize that student loans are not grants or scholarships, they must be repaid.

At Clatsop, entrance counseling is completed on the web and contains the following information:

  • Explanation of the loan
  • Budget information
  • Your rights and responsibilities
  • Repayment obligations and consequences of non-payment
  • Links to repayment calculators 

Go to to access Entrance Counseling for Federal Direct Stafford Loans (subsidized and unsubsidized).  Once you have completed the process, Clatsop will be notified usually within a week.

Federal Direct Stafford Loan (subsidized and unsubsidized)

The Master Promissory Note (MPN) is a promissory note used to make one or more loans for one or more academic years (up to 10 years).  The MPN for the Federal Direct Stafford Loan must be completed before any aid will be disbursed and it is required to be completed one time at Clatsop.  Your MPN PIN will be the same PIN you used for the FAFSA application.

Go to to complete the MPN.

It takes approximately 20 minutes to complete the electronic MPN process.  There are helpful links within the web site to guide you through the process. 

Once you have completed and submitted the Master Promissory Note, it will take approximately 2 weeks for Clatsop to receive the information.  Take care to enter correct information when completing the process.  Error will cause delays.

*NOTE: If you are a first-time borrower and a first-time freshman, you will have a 30-day delay on your loan(s).

Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest. Loans are legal obligations, so before you take out a student loan, think about the amount you really need and the amount you’ll have to repay over the years. It is important that you carefully consider your need to borrow since student loans must be repaid and debt can add up fast.  See the Borrower Rights and Responsibilities Highlights section at the bottom of this page for more detailed information.  Note that FinAid! provides a Loan calculator to assist you in estimating future payments

If you are eligible for a Federal Direct Student Loan at Clatsop, you will receive a Financial Aid Offer with an Estimated Loan Request after your FAFSA and all required items have determined your eligibility.  The Financial Aid Office contacts you via the email address you list on your FAFSA so be sure to check your email often.  Emails from the Clatsop Financial Aid Office will say “Financial Aid Mail” in the subject line and will instruct you to access your MyCCC account to check on financial aid information, offers and updates.  To be eligible for student loans, you must also be enrolled at least half-time (6-8 credits).  The Estimated Loan Request will state the type an estimated amount of loan that you are being offered. Your actual eligibility will be determined at the time your loan(s) are certified.  You have the following options with the Estimated Loan Request:

  • Accept the full amount for all loans offered.
  • Accept the full amount offered for an individual loan (subsidized or unsubsidized).
  • Accept an offered loan but request a lower amount.
  • Decide later.
  • Decline offers of loan(s) by simply not submitting the Loan Request


You must complete and submit the Loan Request form to the Financial Aid Office and complete the following by the Loan Application Deadlines:

  • Complete the Direct Loan Entrance Counseling (quiz) requirement.
  • Complete the Master Promissory Note (MPN) requirement -if you need assistance with this site or process, you may call 1-800-557-7394.

Each of these take requirements take approximately 30 minutes to complete.  Once all requirements are met, your loan(s) will be certified, and you will be sent a revised Financial Aid Offer reflecting the loans.  This process may take 2 or 3 weeks.

*NOTE: If you are a first-time borrower and a first-time freshman, you will have a 30-day delay on your loan(s).

Your loan period is generally the current/next term for which you meet the loan application deadline through the end of the academic year.  Retroactive eligibility may only be considered for consecutive terms where satisfactory academic progress was earned.  An updated Award Letter will be issued reflecting loan awards by type and term.  The net amount will be divided into term disbursements and applied to your student account.

You may request a partial or full cancelation of a student loan by submitting a written request to the Financial Aid Office within 14 days of when the funding is applied to your student account.

Clatsop does not participate in PLUS or alternative loan programs.

Is My Loan Eligibility Subject To Change During the Year?

YES!  Your loan eligibility may be subject to change throughout the year.  Refer to our Revisions to Financial Aid Offer page for more information on why your aid eligibility may be subject to changes throughout the year.

When Will You Receive Your Loan Funding?

That depends.  You will be notified when your loan has been activated and certified through your MyCCC account with an anticipated date of disbursement.  The loan amounts on your Financial Aid Offer will reflect the gross amount borrowed but loan fees will be automatically deducted leaving your actual dollar amount slightly less.  Your net loan will be divided over the number of terms of your loan period (or by two required for a single-term loan) and applied to your student account as early as the dates below or the first or second following Friday after you have received Financial Aid Offer notification.

*NOTE: If you are a first-time borrower and a first-time freshman, you will have a 30-day delay on your loan(s).

Borrower Rights and Responsibilities Highlights:

  • Only borrow as a last resort to meet real, educational needs.  Debt can add up fast.
  • A great reference for managing your loans and repayment is Federal Student Aid Repayment Information, the Repayment Estimator and Fastweb’s Repaying Student Loans Quick Reference Guide.
  • Personal budgeting tool to assist with your own budget –
  • Consider not only your current need, but also your realistic career goals, how much you expect to earn and estimated debt load and repayment burden before you borrow.
  • When you enter into an agreement regarding a Title IV, HEA student loan, that loan will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by authorized agencies, lenders and institutions determined to be authorized users of the data system.

Other Loan Information:

Dependent Care Costs:  If you have Dependent Care costs due to attending college that are not paid by another agency, you can submit a Dependent Care Expense Request for review. This may increase the amount of student loan that you are offered in order to assist you in paying your dependent care expenses while in attendance. You would need to complete and submit a Dependent Care Expense Form for review and submit with your initial Loan Request.

Second-Year Student : If you receive a Loan Request, you may be eligible to increase the subsidized amount of loan or total amount of loans you may borrow if you are a second-year student. To qualify as a second year student, you must be able to show that you have at least 45 required credits toward your declared two-year associate degree. Required credits mean the credits that are actually listed on the checklist. To have this reviewed, you will need to meet with your advisor to complete a Degree Checklist listing all of your completed classes toward your degree and it must be signed off by your advisor.  This should be submitted with your initial Loan Request. After review, you will be notified if it changes your type of loan or loan amount. See the front desk in Student Services to pick up a Degree Checklist.

Loan Cancelation: You have the right to cancel all or any part of your loan prior to receiving funds by submitting a completed Loan adjustment form to the Financial Aid Office. After receipt of loan funds, but before 120 days, you may return the full amount of the loan funds you received to the Business Office or to the Department of Education and incur no loan fees or interest charges.

When you graduate from Clatsop, leave school or drop below half-time enrollment, you will receive an exit packet from Clatsop if you borrowed a student loan. In addition you can complete an exit counseling session online if you have student loans.  The online sessions are completed on the web and may be accessed from the link below. Exit Counseling contains important information regarding your loan obligations and repayment. It is your responsibility to make sure it has been completed.

Federal Direct Stafford Subsidized and Unsubsidized Loan Exit Counseling

Clatsop Financial Aid will send information about the total amount of your loans, your loan servicer and other loan management information to your home address.

Be sure to review the Managing Repayment section of the Federal Student Aid website which offers valuable information on repaying loans, repayment plans and calculators, what to do if you have trouble making payments and much more. 

Please contact the Financial Aid Office at Clatsop if you have any questions about student borrowing.