Steps to Borrow a Student Loan | SCC

Affording College

Steps to Borrow a Student Loan

To borrow a student loan, you must:

  • File your FAFSA;
  • Meet all of SCC’s Admission and Financial Aid requirements;
  • Maintain Satisfactory Academic Progress;
  • Enroll (and remain enrolled) in 6 credit hours or more for the term for which you are borrowing the student loan.

Steps to Request a Student Loan:

  1. If you are a first-time borrower as a SCC student, you will need to log in to Federal Student Aid with your FSA ID and password (your FAFSA login credentials) and complete an Entrance Counseling and a Master Promissory Note (MPN). You will find these under Grants and Loans and then under the Get a Loan tile.
  2. Starting in the 2026-2027 academic year, Somerset Community College no longer includes loans in student’s Aid Offer. A Loan Request link is now available to students under the “Fin. Aid & Account Balance” tab once their aid is packaged.
  3. If you need to borrow, login to your account, and follow these steps. Steps to follow for the Federal Direct Loan Program

*View more information about borrowing Federals Loans. This webpage will help borrowers understand the federal student loan process and help make informed decisions about student loans.

*The Terms and Conditions and the Rights and Responsibilities of Federal Student Loans are listed on the Master Promissory Note (MPN), which is signed by the borrower who is accepting the loan. If you would like to review this information before borrowing a loan, view a sample MPN for Federal Stafford or Federal PLUS loans. This MPN also provides a sample loan repayment schedule and the necessity for repaying any loans you borrow. (Please note: If you want to borrow a student loan, and need to sign your MPN, please go to studentaid.gov)

Loan Exit Counseling

Once you have graduated, dropped below half-time status, OR have stopped attending school, all loan borrowers are REQUIRED to complete Loan Exit Counseling. Please note: even if you do not complete the Exit Counseling, you are still responsible for re-paying the loan, as detailed in the Master Promissory Note.