Students who wish to request Fall only loan period must have a completed
Financial Aid file and submit their loan request by December 8, 2023
Loan students must also have a completed FAFSA
William D. Ford Federal Direct Loan (FDL) Program
Triton College offers Federal Direct Loans to students in a degree-seeking or certification program, who are enrolled in a minimum of six credit hours (half-time) each semester.
Federal Direct Loans are for eligible students to help cover the costs of higher education. These Federal Loans are borrowed funds that you must repay with interest, but usually offer lower interest rates and have more flexible repayment terms and options.
Click HERE for full information regarding the Federal Direct Loan Program.
- Be an undergraduate student in a degree-seeking Academic Program or Certificate (min. of 16 total credits) Program
- Have a completed Financial Aid file
- Submit a FAFSA
- Submit any required documents needed to complete your file via your Student Forms account
- Contact your Financial Aid Advisor if needed
- Be a U.S. Citizen or eligible resident non-citizen
- Be enrolled in a minimum of six (6) qualifying credit hours each semester of the loan period
- Have no unresolved defaults or overpayments owed on any Title IV educational loans or grants
- Be in good standing with Triton’s Satisfactory Progress (SAP) standards
- Complete Online Requirements (via StudentAid.gov)
- A valid Master Promissory Note (MPN)
- Complete Entrance Counseling for Triton College
How Do I Apply for a Loan?
Triton College requires 3 steps to apply for a Federal Direct Loan
Step 1: Fill out your FAFSA Form
Triton College School Code: 001773
The Free Application for Federal Student Aid (FAFSA), becomes available for the following year on October 1st of every year. For example, the FAFSA for the academic year of 2022/2023 became available this past October 1, 2021.
The FAFSA Form is used to determine your federal aid eligibility, including Federal Direct Loans.
You can complete your FAFSA online, or visit the Financial Aid office, located in Building B, Room B160 for help. Please bring in your tax returns from two years prior. For example: if you are filling out a 2022/2023 FAFSA, then you will need your tax returns from 2020.
Your Financial Aid file must be complete before you can be awarded any loan requests. Please reach out to the Financial Aid
Step 2: Fill out the Triton Loan Request Form
Please make sure the Loan Request Form (LRF) is filled out in its entirety, including the Financial Planning page.
By submitting the LRF you will be automatically applying for a Subsidized Loan. However, if the amount you wish to request is above the loan limits for a Subsidized Loan (please see the Full Year Loan Limits table above), you must also check the box for an additional Unsubsidized Loan.
* If you do not check the box for an additional Unsubsidized Loan, you may not receive the full amount you requested or are eligible for*
If you have questions, or need help completing the form, visit the Loan Department at the Financial Aid office, located in Building B-160, or email the Loan Department at: firstname.lastname@example.org.
Step 3: Complete the Online Requirements*
Listed on the Loan Request Form are 2 check-off boxes for Online Requirements.
- Entrance Counseling: Must be completed before taking out a loan with Triton College.
If you have completed entrance counseling with Triton College in past years/semesters, it will not need to be completed with each new application.
- Master Promissory Note: First-time loan applicants must complete an MPN. An MPN is valid for 10 years if it has been linked to a previous student loan within the previous year. If it has been over 1 year since your last FDL, you will need to complete a new MPN.
* Your loan will still be awarded but not disbursed if these online requirements are not met
Loan Area Policies
The Financial Aid Office is authorized, on a case-by-case basis, to deny a student’s loan request to students without documented educational expenses, poor academic performance, prior student loan defaults and/or excessive loan indebtedness. It is the policy Triton College to only recommend Federal Direct loans (FDLs) for students as a last recourse in financing their college expenses.
The Student Loan Specialist may need to contact you for additional information during the certification process. In compliance with auditing regulations, all communications will only be sent to your Triton.edu email address. All communication from the student must come from their official Triton.edu email. Failure to provide any additional information requested will result in a delay or cancellation of your loan request.
The Loan Specialist will notify you via email once your loan request has been awarded. Please allow up to three (3) weeks for processing during peak times.
You can cancel your loan request at any time before your funds are disbursed. If funds have been disbursed, you must make your cancellation request within ten (10) days of disbursement and all funds disbursed must be returned in full. Cancellation requests must be made in writing (email) from your official Triton.edu email account to the Loan Specialist’s email LoanSupport@triton.edu.
Release of Funds
All Federal Aid, including FDLs, are tied to your enrollment. Per Federal regulations, the first loan disbursement is scheduled for at least 30 days after your earliest class start date. All anticipated disbursement dates can be found on your Triton Student Portal once your loan request is awarded.
All FDL disbursements are required to be paid out in two (2) equal amounts. If a second disbursement is required for a single semester loan, it will take place after 50% of the class length has passed. Students must be enrolled and actively participating in a minimum of six (6) credit hours at the time of disbursement to maintain eligibility. Students who are enrolled in late start classes will receive their disbursements after at least 50% of their class length has passed. All disbursement dates displayed will be the earliest your funds are disbursed.
Once your loan request has been awarded, you may use any credit on your account balance at the Triton College Bookstore. Funds awarded before the start of the semester may be used in the bookstore beginning one week prior to the semester start date. Purchases made outside of the official Triton College Bookstore are the student’s responsibility. You will need your school ID and Colleague ID number to use your account credits at the bookstore.
Return of Finds
The amount of Federal financial assistance that a student receives is based on the successful completion of all registered coursework. Any student who withdraws, never attends, or is administratively dropped from all classes before the 60% completion point for the semester or module will be subject to a return of funds calculation and will be required to return a portion of any funds received. This applies to all Financial Aid received, including loans.
Federal Direct Loans (FDLs) are borrowed money that you must pay back with interest. Student borrowers must keep track of their loans and know all terms and conditions regarding repayment and deferment.
Know who your servicer is and notify them of any changes to your name, address, SSN, telephone number, and email address. Inform your servicer if your graduation date changes, you drop below half-time (six credit hours) enrollment, you transfer schools, or cease to be enrolled in a minimum of six (6) credit hours.
Participate in Exit Counseling as you graduate and any time you cease to be enrolled in a minimum of 6 credit hours, or withdraw to less than 6 credit hours.
Know the type and amount of loan fees that apply to your student loan disbursements.
Know when your repayment will begin and what your monthly repayment will be.
Be informed on repayment deferment, loan cancellation, repayment plans, and forbearance relief.
Prepare for repayment and login to your StudentAid.gov account and choose a repayment plan that works best for you. Always repay your loan whether or not you have completed your education, are satisfied with your education, or are able to find a job. Failure to repay your loan without proper authorization will result in defaulting on your loan.
Direct Loan Types
The Federal government pays the interest on a Direct Subsidized Stafford Loan during in-school status and authorized deferment periods.
The student is responsible for paying the interest on a Direct Unsubsidized Stafford Loan during all periods. Deferred interest will be capitalized upon entering repayment.
Parent Plus (Apply directly on the StudentAid.gov website)
For parents of dependent students to take out loans on their dependent student’s behalf. If a dependent student and their parent are denied a PLUS loan, the student becomes eligible to receive up to the independent student amount of Unsubsidized loans. PLUS loans require the Parent borrower to complete a PLUS Master Promissory Note (MPN) on StudentAid.gov.
Direct Loan Interest Rates, Fees AND Limits
Ineligible for Federal Direct Student Loans
Please reach out to our Student Loan Specialist for available alternative loan options.
All Federal Direct Loans (FDLs) must be repaid. It is your responsibility to know the amount and status of all your FDLs.
You can manage your loans, including viewing your loan servicer information and total amounts owed by accessing your studentaid.gov account. Log in and view your Dashboard.
You can also click HERE to access for your loan information, including servicer contact information.
Find the right repayment strategy, and know your estimated repayment schedule. Access the Loan Simulator available online by clicking HERE.
Verify you are not defaulted on any Title IV loans. You are entitled to one free credit report per bureau per year. Check your credit by clicking HERE.
If your loan goes into default, you will face serious consequences. One or more of the following may occur.
KNOW THE CONSEQUENCES OF DEFAULTING ON A FEDERAL DIRECT STUDENT LOAN:
- Your entire unpaid balance can become due immediately
- You will lose your deferment options
- You will not be eligible for future Federal and State aid
- Your account will be reported to the credit bureaus.
- This can affect:
- Your ability to obtain a mortgage
- Car loans
- Business loans
- Personal credit
- Your account may be turned over to a collection agency
- The Federal government may take legal action
- Your Federal tax return may be seized to pay off your debt
- You may not be able to be licensed by some professional organizations
Default occurs when the borrower fails to make payments on their student loans for at least 270 days. Your servicer will send out reminders and warning notices if you fail to make payments
Some steps you may take to help avoid defaulting on your student loans:
- Notify your school and loan servicers of any changes to your personal information, including but not limited to changes:
- To your legal name
- To your permanent address
- To the phone number you provided
- Be aware of who your servicer is and the amounts you owe.
- Access your studentaid.gov account and manage your loans.
- Stay in contact with your lender/loan servicer.
- Make payments on time.
- Contact them to ask for forbearances when you need them.
- Make sure your loans continue to be deferred while you are in school a minimum of half-time enrollment (6 credit hours).
- Most schools auto-report your enrollment, however, it is your responsibility to verify your enrollment is reported to your lender/servicer.
- You may need to submit enrollment verification if your lender/servicer requires it. Contact them for information.
- Borrow conservatively
- Requested loan amounts should be calculated by adding up your educational expenses and subtracting any grants/gifts/payments and work earnings.
- Grants, scholarships, Federal Work-Study benefits should all be explored and applied to your account before you decide on the amount to borrow.
- Only borrow what you absolutely need to attend school.
- Know what your expected salary will be after graduation.
- Be mindful that you will owe not only what you borrow, but interest as well.
When will I receive my loan funds?
Loans are split into a minimum of TWO disbursements. For single semester loans, the first disbursement of the semester is at least 30 days after the start date of the semester. The second disbursement is at least the mid-point of the semester.
Summer loan disbursement dates vary by class start date. Depending on your earliest class start date, disbursements are calculated at 50%-60% of the class length.
Full-Year Loan requests will be disbursed into two disbursements as well. One disbursement in the first semester, another disbursement in the second semester, both at least 30 days from the start of the semester.
You will receive an email when the loan funds are awarded and again when they are disbursed. Make sure you check your student email @triton.edu.
All financial account activity can be accessed via your Triton Portal.
It's after the initial disbursement date, why haven't I received my loan funds?
Have you received an award email notification? If you have not, that means your loan is still being processed.
*Please note that during peak times, it can take 2-3 weeks for your loan request to be processed – not including disbursement time*
After the initial disbursement date, disbursements are made weekly. Loan requests continue to be processed in the order they were received.
Make sure you have completed both online requirements listed on the Loan Request Form:
Check your triton.edu email for any emails from Financial Aid or Loan Support. You may have received an email regarding the status of your Standards of Academic Progress (SAP), or another potential issue.
My Triton Portal says I am getting a refund, but I haven’t received my student refund check?
Have you received an email notification stating that your funds have been applied? If not, please wait for this notification.
Otherwise, Financial Aid funds are automatically applied to the current semester’s balance before the student refunds are processed. Please allow the Cashier’s Office 1-3 business days for processing. If you did not request your funds to be held at the cashier window, the refund check is mailed to the address on file. Mailing time is typically 3-7 business days.
If you did request for your refund check to be held, please wait for another email notification stating your check is ready for pick-up.
If 14 days have elapsed since the check was mailed out and you have not yet received it, you can request a stop-payment on the check, and the Cashier’s Office will re-issue your refund check.
Please contact the Cashier’s Office for more information at 708-456-0300, X-3649, or via email at email@example.com.
Get Help with Entering Repayment
Beware of scams! You NEVER have to pay for help with your federal student aid.
Only work with the U.S. Department of Education, the office of Federal Student Aid, and our loan servicers, and never reveal your personal information or account password to anyone.
Triton College has partnered with the Educational Credit Management Corporation (ECMC). ECMC is a nonprofit company that provides support and sponsors programs to help schools and students lower default rates, promotes financial literacy, and resources to support student loan borrowers to successfully repay their loans.
Visit their website or contact them at (855) 810-4920 for assistance.
Student Code of Conduct
The Triton College Financial Aid Office has developed a Student Loan Code of Conduct to ensure the Student Loan Program at the college is administered in an honest, ethical and legal manner; and to comply with the requirements of the Higher Education Opportunity Act (HEOA) of 2008, signed into law on Aug. 14, 2008. All Triton College employees who are directly or indirectly involved with the administration of student loans, and officers and agents of the institution, adhere to these principles.
For general loan information:
708-456-0300, ext. 3155
Current loan students/specific inquiries:
Student Loan Specialist
(708) 456-0300, Ext. 3045