Beginning with the Fall 2010 session, Northeast Community College (NECC) will participate exclusively in the Federal Direct Loan (subsidized and unsubsidized student loans), and Federal Parent PLUS Direct Loan programs.  Students and parents will be required to use the Direct Loan program for all federal student and parent loans. 

If you are borrowing for the Spring or Summer 2010 sessions please go to 2009-2010 and Summer 2010 Loan FAQ to proceed with a Stafford or Parent PLUS loan through the Federal Family Education Loan Program.

The traditional Federal Family Educational Loan Program (FFELP) loans (i.e., Stafford Loan and Parent PLUS Loan) through banks, credit unions, and other student loan lending companies will no longer be processed at NECC, as we will stop doing business with these lenders and join the Federal Direct Loan program, where students borrow from the federal government through NECC.

As a result of many legislative changes over the past few years, as well as recent economic issues,  the choice of FFELP lenders has been decreasing and students have been forced to change lenders.  Additionally, many FFELP loans are being sold by lenders to the federal government. Please visit DL Loan Comparison Chart to view a chart which will help you understand the differences in these two programs, and why NECC is making this change.  The Financial Aid office is here to assist students with identifying and obtaining resources to finance their educational opportunities at NECC and we believe that the change to the Direct Lending Program is in the best interest of our student and parent borrowers.

Information on Direct Lending for 2010-2011

Direct Lending Master Promissory Note

More Information

Financial Aid Office
finaid@northeast.edu
(402) 844-7285