You will receive a Final Review Done email when this process is complete (you will also see this posted as 'Received' in WebAdvisor on the 'My Documents' page). Please read Cabrillo processing timelines.
Allow 5-8 weeks after you submit your loan forms to receive your check.
To take out a student loan, you must complete these steps each school year:
Receive Final Review Done email
Complete the following using the same PIN number you used for your FAFSA.
Your U.S. Department of Education PIN is required to complete this step.
Cabrillo College requires that you complete a new MPN each year you apply for a Direct Loan.
Once you open the online MPN web page, click on the “Complete new MPN for Student Loans” link. Follow the directions carefully. Your PIN will act as your electronic signature and your promise to repay the loan. After you have completed your MPN and submitted it to the Department of Education, you will be able to print a copy for your records.
We will receive notice of the completed MPN electronically from the US Department of Education.
Once we have received notice that you have completed an MPN, you will receive an email. You should receive this email within a week of completing your MPN.
Note: You should NOT submit the loan forms until Final Review has been done. Loan forms submitted before Final Review has been done or after the loan deadline for the term will be denied and returned.
Be enrolled in and attending 6 or more degree applicable units.
Units from late starting or short term classes will not be counted unless you are currently attending the class.
BA students applying for a student loan need to appeal for a Maximum Time Frame extension and are required to be enrolled in and attending 6 or more degree applicable units from the current Educational Plan they have on file with the Financial Aid Office.
Note: All students with Bachelors degree or beyond have exceeded the Maximum timeframe for any program at Cabrillo College. Refer to our SAP Policy for more details and complete the appeal process.
Complete online Exit Counseling to receive 2nd Loan Disbursement.
Individualized instructions are included with each step, so read carefully before moving on to the next step.
Note: Loan processing takes an additional 5-8 weeks. Plan accordingly. Loan checks are mailed after the 4th week of the term. Any outstanding charges owed to the college will be deducted from your loan.
Loan funds are disbursed in two checks for both full year and one semester loans.
Second disbursements released ONLYAFTER you have completed Loan Exit Counseling.
Full year loans are disbursed, once during the Fall semester and once during the Spring semester.
One semester loans will be disbursed in two checks. The second check will be disbursed after you have completed half of the semester.
Any outstanding charges owed to the college will be deducted from your loan.
By law, a loan fee will be subtracted from each loan you receive. This fee will be subtracted proportionally from each disbursement of your loan. The loan fee will be shown on the loan disclosure statement that was sent to you.
Subsidized and Unsubsidized funds may be come together in the same check.
If you want to decrease or cancel your loan, please notify the Financial Aid Office.
Checks are mailed to the address we have on file. Keep your address current. You can verify/update your address on WebAdvisor.
If you do not maintain Satisfactory Academic Progress or if you drop below 6 degree applicable units, you will not be eligible to receive your check and your loan will be cancelled.
You must be enrolled in and attending 6 degree applicable units to receive a loan check. Units from late starting or short-term classes will not be counted unless you are currently attending the class.
BA students must be enrolled in and attending 6 degree applicable units listed on their Educational Plan or the loan will be cancelled. Classes enrolled in but not listed on an Educational Plan will not be counted.
You must complete Exit Counseling to receive the second disbursement of your loan. You can complete this requirement online at www.nslds.ed.gov.
2010-11 Loan Request Deadlines:
FALL 2010: Friday, October 29, 2010Deadline extended to Friday, November 5, 2010.
SPRING 2011: Friday, April 15, 2011
Loan EXIT Exams are REQUIRED:
Before receiving a 2nd Loan Disbursement
If you drop below half-time enrollment (6.0 units)
Within 30 days PRIOR to graduating or leaving Cabrillo