Important Notice Concerning Stafford Unsubsidized Loans
The Department of Education has approved an increase in the annual amounts allowed for Federal Stafford Unsubsidized loans to eligible students effective July 1, 2008. All financial aid awarded before July 1, 2008 did not include this additional amount of $2000 per year. If you would like your financial aid package re-evaluated to see if you are eligible for this increase in Unsubsidized loan funds, please contact Laurie Kitchen, Loan Coordinator, at lgkitchen@kilgore.edu or (903) 983-8299.
|
| |
| |
Steps to Completing the Loan Process at Kilgore College |
| 1. |
A FAFSA must be completed and processed first. In most cases, you need your pin number from the FAFSA to electronically sign your loan application. |
| 2. |
Complete all required financial aid paperwork and verification prior to applying for the loan. |
| 3. |
Be familiar with the Kilgore College General Regulations for the Federal Loan Program that will be in effect for your Federal Stafford loan. |
| 4. |
Contact the financial aid office at Kilgore College at (903) 983-8211 to initiate the loan process. A loan will have to be awarded to you. Once the loan has been awarded, you will need to accept or reduce the loan amount by signing the award letter available in the financial aid office or mailed to you. Once we receive your signed loan award letter, we will create a loan for you to complete online. This could take up to a week or more depending on the time of year. |
| 5. |
Go to the TG “Loans by Web” secure website (https://lbw.tgslc.org) and complete Entrance Loan Counseling and a Master Promissory Note on that site. Steps to complete the Loans by Web application process are as follows: |
| |
a) Choose “I am an Undergraduate Student Borrower”, agree to enter Social Security Number, then enter your Social Security Number and date of birth. |
| |
b) Click on Complete a loan award. The Complete Your Loan Award screen appears. |
| |
c)The loan should be listed under Option 1. Click on BEGIN. If no loan is listed under Option 1, you will need to call the financial aid office to see when it will be available to complete. |
| |
d) You need to complete electronic Entrance Loan Counseling before continuing. Once you have successfully completed the Counseling, you will continue with the TG Loans by Web process by following the prompts on the screen. Be sure you continue after you receive the confirmation that you have completed Stafford Entrance Loan Counseling. |
| |
e) Check and enter all the following information on the Complete Your Loan Award page: Personal Information, References (two), Lender Selection, and Loan Award Information. (Some of this information is already entered for you. Be sure it is correct.) |
| |
f)Provide two References (one can be a parent, but no PO Boxes and references have to have different addresses) The references are provided for contact information only (no credit check is involved.) Click NEXT. |
| |
g) Click Select Lender. Kilgore College’s Lender List appears. Lenders that accept electronic signatures (E-Sign) for loans are preceded by an asterisk and can be processed more quickly (no mailing of paperwork required). Select a lender from the drop down list. Click NEXT. |
| |
h) Review your Loan Award Information. Fill in any necessary fields where information is missing, including Stafford Requested Loan Amount, Loan Period Begin and End date, etc. Click SUBMIT. |
| |
i) Verify the information on the Please Verify…screen. Click Send Request to submit the request. |
| |
j) Follow the instructions on the Results…screen. If you selected an E-Sign lender, click on the link(s) provided, to sign your Master Promissory Note (MPN). |
| |
k) If you did not E-Sign for the loan, your MPN will be mailed to you. Mail the signed and dated MPN back to the lender, or check your lender’s Web site to see if they have electronic signature capabilities available there. Either e-sign your application OR print it out, sign it and mail it to your lender. You will not receive your funds until this process has been completed. |
| |
|
| 6. |
All loan money is scheduled to disburse 30 days after the first day of school and any excess funds will be refunded to the student 14 days later . |
| 7. |
If you want to reduce or cancel your loans prior to their scheduled disbursement, please contact the Kilgore College Financial Aid Office. |
| 8. |
You must be registered for at least 6 hours before the loan money can be applied to your account. |
| 9. |
If you did not complete your Master Promissory Note correctly or did not sign it, your loan money will be delayed until you fix the problem. |
| |
|
Kilgore College 