Student Loans

The Student Loan Payment Pause has ended! Consult your student loan officer for questions about your loan.

For questions on your student loans, the following resources may be helpful:

Danville Community College participates exclusively in the Federal Direct Student Loan Program which includes Subsidized Student Loans, Unsubsidized Student Loans, and Parent Loans. The Federal Government is the lender in the Federal Direct Student Loan Program. Students and parents interested in federal student and parent loans will be required to apply through the Federal Direct Student Loan Program and complete master promissory notes. Danville Community College does not automatically award Federal Direct Student Loans. Students interested in applying for a loan must submit a loan request form. If you decide to borrow a loan, your loan information will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system. Loans are currently disbursed in two installments in a given semester. We strongly urge you to borrow only what is absolutely needed to prevent future debt. Please Note: To qualify for a private loan, you must be enrolled in at least six (6) credit hours. 

Federal Direct Loans

Direct Subsidized Loans

Direct subsidized loans are available to students who demonstrate financial need to help cover the cost of higher education. Eligible students must qualify for federal financial aid and enroll in at least six credits each semester. The U.S. Department of Education will pay the interest on a subsidized loan while you are enrolled at least half-time, during the first six months after you leave school (your grace period), and during a period of deferment. Annual limits are based on class level and dependency and range from $5,500 to $10,500 per year at community colleges.

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Direct Unsubsidized Loans

Direct unsubsidized loans are available to students regardless of financial need. You are responsible for paying all accrued interest on the loan. You may may pay interest on an unsubsidized loan while you are in school or defer interest payments, which will be added to the principal of the loan. There are annual limits as to how much you can borrow just like subsidized loans.

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Direct PLUS Loans

Direct PLUS loans, or parent PLUS loans, are available to parents of dependent students to help pay for their child's education expenses as long as certain eligibility requirements are met. The annual limit on a direct PLUS loan is equal to the student's cost of attendance minus any other financial aid the student receives.

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For additional information on the Federal Direct Student Loan Program, please click on the following link:

Direct Loan Policy


To Apply Follow These 5 Steps:

  1. Complete the Free Application for Federal Student Aid (FAFSA) – In order to establish eligibility for the Federal loan you must complete and submit a FAFSA form for the applicable award year that you are planning to enroll. You may apply on-line at Be sure to include DCC’s school code (003758) on your FAFSA. DCC will not certify your loan without first obtaining the processed results from your FAFSA application
  2. Know Your User Name and Password – In order to complete your Entrance Counseling and Promissory Note below you will need to know your User Name and Password. This is the same User Name and Password used to complete your FAFSA. If you do not have a User Name and Password or have forgotten your Username and Password please visit Create FSA ID
  3. Entrance Counseling – To receive a student loan, the federal government requires that you understand the basics of borrowing. You’ll be asked to complete a brief entrance counseling session. Entrance Counseling can be completed on-line at Click on entrance Counseling. This counseling session will help you learn more about the necessity of repaying your student loan, your Master Promissory Note, planning for repayment, and your rights and responsibilities as a borrower.
  4. Complete Your Promissory Note – To apply for a Federal Loan, you need to submit a completed and signed Master Promissory Note (MPN). To Sign your promissory note online, visit and click on Sign Promissory Note. Failure to promptly complete your Promissory Note will delay processing of your loan request. Your MPN is a legally binding document stating that you agree to repay your loan and that you accept the terms and conditions of your loan. The MPN also defines your right and responsibilities as a borrower, so it is vital that you read and understand this document.
  5. Complete the DCC Loan Request Form – Complete this form found on the Financial Aid Forms page and return it to the Financial Aid Office.

Interest Rates

Interest rates for Direct Loans first disbursed on or after July 1, 2024 and before July 1, 2025 for undergraduate students is 6.53%.                                                                             

Lending Statement Regarding Preferred Lender Lists and Preferred Lender Arrangements

Danville Community College does not recommend specific student loan lenders, nor does it have a preferred lender list or preferred lender arrangement. Students may borrow from any lender that offers educational student loans. As always, we strongly urge you to borrow only what is absolutely needed to prevent future debt. Please Note: To qualify for a private loan, you must be enrolled in at least six (6) credit hours.

Educational Credit Management Corporation

Danville Community College uses Educational Credit Management Corporation (ECMC), which educates students about Student Loan Basics, Preventing Default, Resolving Default and Bankruptcy.  DCC provides Financial Literacy to students through a free online financial resource called ECMC ECMC Learning is a service of ECMC that works to lower student loan default rates; sponsor college access and provide resources to support student loan borrowers to successfully repay their loans. 

Loan Repayment

Information about student loan repayment and the different repayment plans available can be found at Students may use their FSA ID and password to log into the federal student loans website and view actual loan totals and estimated monthly payment. Repayment begins six months after the student graduates, leaves school, or drops below half-time enrollment. Federal PLUS loans have no grace period for repayment.

Loan Information Disclosure

Student or parent Federal Direct Loan Information is submitted to the National Student Loan Data System (NSLDS) and accessible by authorized agencies, lenders, and institutions. 

The Department of Education sends out the cohort default rate twice a year, a draft in February and the official rate in September.

Danville Community College FY2019 CDR = 5.1%. 



Financial Aid Office

Wyatt 111