Skip to main content Skip to main navigation Skip to footer content

Loans

Federal student loans must be requested by the student. Triton College does not automatically package Federal student loans into our Financial Aid offers.

Students must have their Financial Aid file reviewed for Federal student loan eligibility before they can be assigned a Loan Request Form.

All students must complete a 2026/2027 FAFSA, complete their Financial Aid files by submitting any required documentation, and be registered for classes before their file can be reviewed. Contact your Financial Aid Specialists for assistance.  

 

*One Big Beautiful Bill Act Updates* 

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law, introducing significant revisions to federal student aid programs. These changes went into effect on July 1st, 2026 and will apply to the 2026–2027 academic year – Fall 2026, Spring 2027, and Summer 2027.  These changes may affect loan eligibility, borrowing limits, and repayment options.  

***The One Big Beautiful Bill Act Updates page will continue to be updated as new information becomes available. For updates and to learn more about the changes, please visit the Federal Student Aid OBBBA webpage *** 

Request a Federal Loan File Review for the 2026/2027 Academic Year

 

William D. Ford Federal Direct Loan (FDL) Program

Triton College offers Federal Direct Loans to students in a degree-seeking program or certificate program that is a minimum of 16 total credit hours, who are enrolled in a minimum of six credit hours (half-time) each semester, and meet all other eligibility requirements.

Federal Direct Student Loans come with benefits not typically offered with private bank loans: 

Vist the Federal Direct Loan Program for full information.

 

Eligibility

  • Be a U.S. Citizen or eligible resident non-citizen
  • 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 an undergraduate student in a degree-seeking Academic Program or Certificate (min. of 16 total credits) Program
  • Be enrolled in a minimum of six (6) qualifying credit hours each semester of the loan period
  • Be in good standing with Triton’s Satisfactory Progress (SAP) standards
  • Have no unresolved defaults or overpayments owed on any Title IV educational loans or grants
  • Complete Online Requirements (via StudentAid.gov)
    • A Valid Master Promissory Note (MPN) for Undergraduate Students
      • The MPN is a legal document that explains the terms and conditions of your loan(s), in which you promise (agree) to repay your loans (borrowed money) and any accrued interest and fees to the U.S. Department of Education.
    • A Completed Entrance Counseling for Triton College (School Code: 001773)
      • Entrance Counseling is a mandatory counseling session that explains what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default.  It also ensures that you understand the terms and conditions of your loan(s) and your rights and responsibilities
  • Students must be actively participating in at least six (6) eligible credit hours at the time of disbursement
  • Credits must count towards your active and eligible Academic Program or Certificate Program (minimum 16 total credit hours).

 

2026/2027 Federal Student Loan OBBBA Changes

Visit StudentAid.gov for full information.

There are no changes to the total loan limits per academic year for undergraduate loans. 

Federal direct student loans are required to be prorated for students enrolled less than full-time (24 credit hours for the academic year) beginning on July 1, 2026. Federal loan eligibility will be proportionally reduced to actual enrollment hours, based on a 24-credit academic year.  It will impact the 2026-2027 academic year (and any loans originated after July 1, 2026. This reduction may occur even if the student’s billed hours remain unchanged. 

Students must be enrolled full-time in both the fall and spring semesters to be eligible for the maximum yearly amount. For undergraduate students, 12 credit hours is full-time per semester. A student’s total enrollment across the academic year (fall and spring) must equal or exceed 24 hours to receive their full subsidized and unsubsidized loans.  

Undergraduate students who enroll in fewer than 12 credit hours will have their federal student loans prorated based on the actual eligible credit hours they are registered in prior to the first loan disbursement.

Your Maximum Yearly Loan Eligibility x (Enrolled Credit Hours / Full-Time Credit Hours) = Prorated Federal Loan Eligibility

*Students who drop, withdraw, or are administratively withdrawn from their class will have their federal loans adjusted to reflect the actual credit hour enrollment*

Students may qualify for an interim exception where they can be exempt from certain loan limits and loan eligibility changes. 

Students must qualify for an interim exception by:
  • Having been enrolled in an eligible academic program as of June 30, 2026, and
  • Have received at least one direct loan (federal student loan, or parent PLUS loan) for that program before July 1, 2026, and
  • Must maintain a minimum of six (6) credit hours each semester at the same school and must be seeking the same credentials after July 1, 2026, and
  • Maintain federal financial aid eligibility  

* Students will lose their interim exception when either enrollment or eligibility are broken. Students must maintain a minimum of six (6) credit hours each semester. 

Student loan awards may be adjusted at any time due to changes in enrollment. These loan adjustments are required under OBBBA, even if the loan disbursement or refund has already been processed.

For example, if a student is awarded for the fall semester at 9 credit hours, but only completes 6 credit hours, then their spring disbursement will be reduced to reflect actual credit hours completed. If no subsequent semester loan is awarded, then the student will owe the difference to the school.

 

How Do I Request a Federal Loan?

Step 1:  Fill out your FAFSA Form

Triton College School Code: 001773

The Free Application for Federal Student Aid (FAFSA) is used to determine a student’s eligibility for federal financial aid, including grants, work-study, and federal loans.

The FAFSA is completed online at Studentaid.gov.  You may need the following information or documents as you fill out the FAFSA form:

  • Your parents’ Social Security Numbers (SSNs) if they have SSNs and you are a dependent student
  • Tax returns
  • Records of child support received
  • Current balances of cash, savings, and checking accounts
  • Net worth of investments, businesses, and farms

The 2025/2026 FAFSA and your Financial Aid file must be completed before any loan requests can be processed.  After your FAFSA is received by the financial aid office, you may need to provide additional documents via your Student Forms account to complete your financial aid file, if needed. 

Please visit the financial aid office, located in Building B, Student Center, Room B-160, or email your Financial Aid specialist at finaid@triton.edu for assistance completing your FAFSA and Financial Aid file.  

Step 2:  Have Your Financial Aid File Reviewed for Federal Direct Loan Eligibility

Click on “Request a Direct Loan Eligibility Review” and submit your information. The Loan Specialist will review your financial aid file for Federal loan eligibility. Please allow up to 5 business days for your file to be reviewed.

Continue to monitor your Triton.edu email for updates.  The Student Loan Specialist may need to reach out for more information or required documentation.  Once your file is approved, the Loan Request Form task will be assigned to your Student Forms account and you will receive an email notification.

How to create a Student Forms account.

Step 3:  Submit All Required Documentation

All required documentation must be completed, submitted, and accepted before the loans will disburse:

  • Complete the Loan Request Form task on Student Forms
  • Provide additional documents such as an academic course plan or documents for address verification, if prompted
  • All borrowers must complete their online requirements. Both are completed via your StudentAid.gov account
  • Entrance Counseling for Triton College (School Code: 001773)
  • Entrance Counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You'll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default.
  • Master Promissory Note (MPN)
  • The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education (ED). The MPN also explains the terms and conditions of your loan(s).

 

Loan Area Policies

Approval

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 after submitting your Loan Request Form task.

Cancellation

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.

Bookstore Purchases

After your loan request has been awarded and your MPN has been accepted and applied to your loan award, you may use any credit on your account balance at the Triton College Bookstore.  You can also pay with your Financial Aid credits at the online 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.  You will need your school ID number to use your account credits at the bookstore. Purchases made outside of the official Triton College Bookstore cannot be paid with Financial Aid credits and are solely the student’s responsibility. 

Return of Funds

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.

Borrower's Responsibility

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

Subsidized Loan

The Federal government pays the interest on a Direct Subsidized Stafford Loan during in-school status and authorized deferment periods.

Unsubsidized Loan

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. This means all of the interest that has accrued during your deferment period will be added to your principal balance once you enter 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

2026/2027 Academic Year Federal Direct Loan Limits 

The 2026/2027 academic year includes the Fall 2026, Spring 2027, and Summer 2027 semesters.  The following amounts are the maximum amounts a student is eligible for the academic year. Limits are applied to the yearly loan limit based on the student’s dependency status (as determined by the FAFSA) and their current grade level.   
 
The actual amount a student is eligible for depends on the eligibility calculated based on your actual enrollment hours. Federal loan eligibility will be proportionally reduced to actual enrollment hours, based on a 24-credit academic year. Your loan eligibility also depends on your total Cost of Attendance (COA) minus all other aid received. No student can receive more federal funds than their COA. 

College Level

Dependent Student

Independent Student

Freshman 
(0-29 credits completed)

$5,500 
With a maximum of $3,500 in
subsidized loan funds, if eligible. 

$9,500 
With a maximum of $3,500 in
subsidized loan funds, if eligible. 

Sophomore 
(30+ credits completed) 

$6,500 
With a maximum of $4,500 in
subsidized loan funds, if eligible. 

$10,500
With a maximum of $4,500 in
subsidized loan funds, if eligible.

 

Interest Rates

For loans disbursed on or after 07/01/2026 and before 07/01/2027

Subsidized/Unsubsidized  6.52% fixed rate
Parent PLUS Loans 9.07% fixed rate

 

Origination Fees

For loans disbursed before 10/01/2027

Subsidized/Unsubsidized  1.057%
Parent PLUS Loans 4.228%

 

Parent PLUS Denial

If a dependent student's parent is denied a parent PLUS loan, then the student becomes eligible for the independent amount of unsubsidized loan funds, if otherwise eligilbe.

 

Lifetime Undergraduate Loan Limits

Dependent Students:  $31,000
($23,000 maximum subsidized)

Independent Students:  $57,500
($23,000 maximum subsidized)

*New beginning 07/01/2026: All students will now have a total aggregate (lifetime) limit of $257,500.
This amount includes the following Direct and FFEL loan types: subsidized loans, unsubsidized loans, and PLUS loans for graduate or professional students (regardless of any amounts paid or discharged).

Ineligible for Federal Direct Student Loans
Please reach out to our Student Loan Specialist for available alternative loan options.

 

 

Student Responsibilities

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.

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.
  • 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.
      • Use the Loan Calculator on studentaid.gov and calculate your estimated monthly payments.
        • Will your expected salary be enough to cover the monthly payments?
    • Be mindful that you will owe not only what you borrow, but interest as well.

 

Loan FAQs

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.

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.

Have you received an email notification stating that your funds have been applied to your account?  If not, please wait for this notification.

All Financial Aid funds, including loans, are automatically applied to the current semester’s balance before any student refunds are processed.  Please allow the Cashier’s Office 1-3 business days to apply your disbursement to the account balance. 
 
For the fastest processing, enhanced security, and convenience, set up or update your banking information for direct deposit via your Self-Service account. Allow up to 5 business days for direct deposit set up. You can also view the status of your direct deposit account via your Self-Service account.

Students who do not set up direct deposit, or fail to set up direct deposit in time for loan disbursements will experience delays in receiving their refund checks via mail. Please allow up to 14 days for your check to arrive.

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, Ext. 3229 or via email at  cashieroffice@triton.edu.

 

Enrollment Verification for In-School Deferment of Federal Loans 

Federal student loans and parent PLUS loans are eligible to defer entering repayment of the federal loans if the student maintains enrollment for at least six credit hours (half-time enrollment).  Triton College automatically reports student’s enrollment at the start of the semester, continuing throughout the year. 

The loan servicers will be automatically notified of your enrollment, and will continue to defer your loan repayments.  

Repayment will begin after a six-month grace period that begins when you stop attending school at least half-time (six credit hours). On occasion, you may be required to complete an In-School Deferment Request form. 

All In-School Deferment Request forms are completed by our Records Office.   

 

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.

Triton College FDL Code of Conduct

 

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.

There are many alternative payment arrangements available to assist you in repaying your student loans should you find yourself in a situation where making full and timely payments becomes a burden. 

  • Repayment Options: If the payments are too big for you to manage you may want to look into the repayment options your lender/servicer has for you. You will find that they have payment programs to fit just about everyone's budget. Many offer extended, graduated, interest-only and/or income sensitive payment plans.
  • Deferment and Forbearance: If you can’t keep up with the payments due to your economic situation (or if you are delinquent) you should request postponement of payments from your lender. All lenders have various deferment / forbearance options. In many cases you may file on-line for postponement of payment! 
  • Loan Consolidation: If you have a large number of loans (especially if you attended several different schools) and you’re having a hard time keeping track of them (or making the monthly payments) you may want to consider loan consolidation. 

All students that graduate, or stop attending school at least part-time (six credit hours) are required to complete Exit Counseling.  Exit Counseling is designed to prepare you for repayment and to ensure you understand your student loan obligations, including information about repayment strategies.

 

Contacts

Cindy Perez

Student Loan Specialist
Loan Support
(708) 456-0300, Ext. 3155
loansupport@triton.edu 

 

Resources