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Student Loans

Student loans, unlike grants and Work-Study earnings, are borrowed money that must be repaid with interest.  Loans are legal obligations, so before taking out student loans, students should think realistically about the amount necessary to obtain their educational goals and about the amount that will have to be repaid in future years. A student loan can be used only for educational costs, such as tuition and fees, room and board, or books and supplies. Financial need is not a requirement to obtain certain student loans. 

Students should review the information about subsidized and unsubsidized loans on the Types of Financial Aid webpage.

How much can I borrow?

The tables below show the current loan limits for Federal Student Loans.*

Classification for Dependent Students

Subsidized Loan Limit

Additional unsubsidized loan amounts

FRESHMAN: 29 or less semester hours completed, excluding developmental hours



SOPHOMORE: 30 or more semester hours completed, excluding developmental hours




Classifications for Independent Students

Subsidized Loan Limit

Additional unsubsidized loan amounts

FRESHMAN: 29 or less semester hours completed, excluding developmental hours



SOPHOMORE: 30 or more semester hours completed, excluding developmental hours



 *The actual loan amount a student is awarded will depend on other financial aid awards received and the cost of attendance as set by the WCJC Financial Aid Office.                  

How do I complete entrance counseling, the Master Promissory Note (MPN), or exit counseling?


Students must complete the FAFSA and submit all required documentation before a federal loan amount can be calculated.

All student loan borrowers must complete entrance loan counseling before a loan can be fully processed.  Student loan borrowers also must complete exit loan counseling before they will be able to request and receive a final official academic transcript. 

Student loan borrowers will also be required to complete a Master Promissory Note (MPN).  The MPN is the student's legal agreement to the terms of the loan; essentially, the note is a promise that the student will repay the loan(s) and any accrued interest and fees to the Department of Education. 

To complete an electronic MPN:

  • From the Studentaid.gov home page, click on the "Log In" button located in the "Manage My Direct Loans" box. The Log in page will appear.
  • Use of another person's FSA ID constitutes fraud. Use only your own FSA ID information.
  • Once logged in, click on the "Complete MPN" option located under the "Master Promissory Note" heading on the left menu bar. The Master Promissory Note (MPN) page will appear.
  • Select the type of loan you would like to receive.
  • Follow the instructions to complete, sign, and submit your MPN.

Students who are considering accepting federal loans should visit the Federal Student Aid website to learn more about Master Promissory Notes.

What is the refund policy?

Federal regulations require return of funds for all students who receive Federal Title IV aid and subsequently withdraw during a payment period (i.e., a semester). The length of time during which a return of funds is calculated is up to sixty percent (60%) of the semester. Students not receiving federal funds are subject only to Wharton County Junior College’s refund policy.

The refund is applied to their financial-aid awards in the following order: 

  1. Federal Unsubsidized Direct Loan
  2. Federal Direct Student Loan
  3. Federal Plus Loan
  4. Federal Pell Grant
  5. Federal Supplemental Education Opportunity Grant
  6. Other state and local aid

Wharton County Junior College makes all refunds in compliance with current federal regulations.

Frequently Asked Questions

Do I have to complete the online process at https://studentaid.gov for my loan?

Yes.  If you do not complete the online process as instructed, your loan cannot continue to be processed by the Department of Education. You must complete entrance counseling electronically and sign the promissory note for the loan. 

Federal regulations also require that all students who receive a Direct Loan (DL) must complete exit counseling at www.studentaid.gov prior to graduation or before dropping below half-time attendance. You may not be able to get a copy of your college transcript until you have completed this important step.

How do I sign my promissory note?

You will need your FSA ID, which you used to electronically sign your FAFSA. 

How do I know if my loan funds have been received and deposited into my student account?

You should check your student account using the Online Services feature on the WCJC website.  Information will not be released via telephone due to privacy laws. Loan funds will be deposited into your student account electronically.  Check your Disclosure Statement to determine when funds will be sent to the college.  The Business Office will deduct what you owe for tuition, fees, and books, and the balance will be mailed to you.  You are responsible for maintaining a current, valid address with the Office of Admissions and Registration.

What if I have other loans and don’t know who the lender is or how to contact them?

Call the Department of Education at 800-621-3115 OR

Log on to the National Student Loan Database (you will need your PIN).

What if I need to dispute the terms of a loan?

You should contact the lender and/or guarantor in writing.  If the issue remains unresolved you should contact the Office of the Ombudsman at fsaombudsmanoffice@ed.gov or 1-877-557-2575.

Additional Resources

WCJC works with Loan Science, a leader in the federal student loan management industry, to better assist you in making wise repayment choices. Students are encouraged to take advantage of their dedicated staff of trained loan counselors to assist in answering questions or resolving any repayment challenges that may arise. 

Questions about how to best manage your federal student loans can be answered by contacting Loan Science directly at: 
              Phone: 866.311.9450
              Email:  loansupport@loanscience.com

The service is free for past and current WCJC students.

The links below can also serve as resources for students considering student loans.

How to Repay Student Loans

Financial Literacy

Federal Trade Commission Money Matters

What is a Loan? (FATV)












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