Virginia Western does not automatically award Federal Direct Student Loans. A student who wishes to receive a Direct Student Loan must submit a Federal Direct Student Loan Request Form (PDF).
For additional information about Direct Loans (including current interest rates), visit https://studentloans.gov/myDirectLoan/index.action or the Financial Aid office.
For information on consolidating an existing Stafford Loan with a Direct Loan, visit https://studentaid.gov/app/launchConsolidation.action or call 800-557-7392 (TDD/TTY: 800-557-7395).
To request a Direct Student Loan, students must meet the same basic eligibility criteria as other listed financial aid and enroll in a minimum of 6 financial aid-eligible credits.
- Complete a Free Application for Federal Student Aid or Renewal Application.
- If you are a first-time Direct Loan borrower and also have not received a Stafford Loan, complete Direct Student Loan Entrance Counseling.
If you are a first-time borrower, you must also review this document about subsidized loan limits from the US Department of Education: Direct Subsidized Loan Eligibility for First-Time Borrowers. (PDF)
- Complete a Subsidized/Unsubsidized Master Promissory Note (MPN). The MPN is the legal document with which you promise to repay your Direct Loans and any accrued interest and fees. It also explains the terms and conditions of your loans.
- Complete and submit a Loan Request Form (PDF) to the Financial Aid Office via mail, fax or in-person.
Students are required to complete Exit Counseling if:
- you drop or withdraw classes to less than half-time or begin to attend as a less than half-time student.
- you withdraw fully from the college.
- you do not begin classes in a subsequent semester.
- you complete and graduate from a program.
You will be notified by email to your Virginia Western email account, or, if you are not longer attending, via a mailed letter to the address on file. Exit Counseling is completed through https://studentloans.gov.
To apply for a Direct Parent PLUS Loan, students must meet the same basic eligibility criteria as other listed financial aid.
- Complete the PLUS MPN for Parents.
- Complete and submit a Direct Parent PLUS Loan Request Form (PDF) to the Financial Aid Office via mail, fax, or in-person.
Information about student loan repayment and the different repayment plans available is available at https://studentaid.ed.gov/sa/repay-loans. Students may use their FSA ID and password to log into the federal student loans website, https://studentloans.gov/myDirectLoan/index.action, to view actual loan totals and estimated monthly repayment by repayment plan. Repayment for Federal Direct Student Loans begins six months after the student graduates, leaves school, or drops below half-time enrollment. Federal PLUS loans have no grace period.
Loan repayment is managed through a loan servicer assigned to your loan by the U.S. Department of Education. Information about loan servicers is available at https://studentaid.ed.gov/sa/repay-loans/understand/servicers#select.
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.
- VWCC FY2018 CDR = 10.3% Official School Cohort Default Rate Search (ed.gov), VWCC OPEID: 003760
- Average FY2018 CDR for Public 2-year institutions = 11.5% (PowerPoint Presentation (ed.gov) – PDF)
- 12% of all 2016-2017 students took out federal student loans (this is the cohort used for FY2018)