{"id":401,"date":"2021-12-16T17:01:04","date_gmt":"2021-12-16T23:01:04","guid":{"rendered":"https:\/\/www.ntcmn.edu\/myntc\/?page_id=401"},"modified":"2023-05-31T15:27:34","modified_gmt":"2023-05-31T20:27:34","slug":"loans","status":"publish","type":"page","link":"https:\/\/www.ntcmn.edu\/myntc\/financial-aid\/financial-aid-categories\/loans\/","title":{"rendered":"Loans"},"content":{"rendered":"<div class=\"ratio ratio-16x9 clearfix my-4\"><iframe loading=\"lazy\" title=\"Responsible Borrowing\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/mTHtn0FRMWw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p class=\"intro\">Student loans, unlike grants and scholarships, are a type of financial assistance that must be repaid with interest so be sure to research your options carefully and borrow conservatively.<\/p>\n<p>Federal loans typically offer lower interest rates and better benefits than private alternative loans. You are strongly encouraged to maximize your federal loan eligibility prior to considering any other loan options.<\/p>\n<ul>\n<li><a title=\"Federal Direct Student Loan\" href=\"https:\/\/www.ntcmn.edu\/myntc\/financial-aid\/financial-aid-categories\/loans\/federal-direct-student-loan\/\">Federal Direct Student Loan<\/a><\/li>\n<li><a title=\"Federal Direct Parent Loan (PLUS)\" href=\"https:\/\/www.ntcmn.edu\/myntc\/financial-aid\/financial-aid-categories\/loans\/federal-direct-parent-loan-plus\/\">Federal Direct Parent Loan<\/a>&nbsp;(PLUS)<\/li>\n<li><a title=\"Alternative Loans\" href=\"https:\/\/www.ntcmn.edu\/myntc\/financial-aid\/financial-aid-categories\/loans\/private-loans\/\">Private Loans<\/a><\/li>\n<\/ul>\n<h2>Loan Reporting<\/h2>\n<p>All loan information will be submitted to the National Student Loan Database System (<a href=\"https:\/\/studentaid.gov\/h\/manage-loans\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NSLDS<i title=\"External link\" class=\"bsu-icon bsu-icon-external-link small ms-1\"><\/i><\/a>) and will be accessible by guaranty agencies, lenders and institutions determined to be authorized users of the data system.<\/p>\n<p>To ensure the integrity and best interests of our students, all NTC employees are subject to the <a href=\"https:\/\/www.ntcmn.edu\/myntc\/wp-content\/uploads\/sites\/9\/2021\/12\/Code_Of_Conduct_NTC.pdf\" rel=\"\">Student Loan Code of Conduct<\/a>.<\/p>\n<h3>Loan Default Rate<\/h3>\n<p>NTC&rsquo;s 3-year cohort default rate for 2018, the most recent year available was 8.6%. For information about the national average Cohort Default Rate, as well as specifics by institution type, please visit Federal Student Aid&rsquo;s <a href=\"https:\/\/studentaid.gov\/data-center\/student\/default\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Default Data Center<i title=\"External link\" class=\"bsu-icon bsu-icon-external-link small ms-1\"><\/i><\/a>.<\/p>\n<h3>Student&rsquo;s Responsibility<\/h3>\n<p>It is your responsibility to:<\/p>\n<ul>\n<li>Read all directions thoroughly, complete all application forms accurately and comply with all <span style=\"line-height: 1.5\">applicable deadlines.<\/span><\/li>\n<li>Provide any supplemental information or documentation requested.<\/li>\n<li>Regularly monitor both your NTC e-Services and email account.<\/li>\n<li>Report to the NTC Financial Aid Office the receipt of any private funding source, such as&nbsp;<span style=\"line-height: 1.5\">scholarships and third-party agencies.<\/span><\/li>\n<li>Notify the Financial Aid Office of any change in your enrollment status.<\/li>\n<li>Satisfactorily complete coursework attempted each term you receive financial aid.<\/li>\n<li>Accept only financial aid funds for which you are eligible and use all funds received for&nbsp;<span style=\"line-height: 1.5\">educational expenses.<\/span><\/li>\n<li>Know and comply with all requirements to remain eligible for financial aid; including compliance&nbsp;<span style=\"line-height: 1.5\">with the Satisfactory Academic Progress and Return of Federal Title IV Funds Policies.<\/span><\/li>\n<li><a href=\"https:\/\/studentaid.gov\/entrance-counseling\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Complete entrance loan counseling<i title=\"External link\" class=\"bsu-icon bsu-icon-external-link small ms-1\"><\/i><\/a> and a <a href=\"https:\/\/studentaid.gov\/mpn\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">master promissory<i title=\"External link\" class=\"bsu-icon bsu-icon-external-link small ms-1\"><\/i><\/a> note as required for receiving a Federal Direct Loan at NTC.<\/li>\n<li>Notify the servicer of your student loans of any change in your mailing address.<\/li>\n<li>Repay all student loans received as agreed, regardless of program completion.<\/li>\n<\/ul>\n<h3>Student Loan Code of Conduct<\/h3>\n<p>Northwest Technical College values the integrity in the actions of its employees and expects them to comply with all applicable laws, regulations and college policies in performance of their duties according to the highest standards of honesty and integrity. The&nbsp;<a href=\"https:\/\/www.ntcmn.edu\/myntc\/wp-content\/uploads\/sites\/9\/2021\/12\/Code_Of_Conduct_NTC.pdf\" rel=\"\">Student Loan Code of Conduct<\/a>&nbsp;applies to:<\/p>\n<ol>\n<li>All employees of the college who have responsibility with respect to education loans; and<\/li>\n<li>All employees of the college who are employed in the Financial Aid Office.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Student loans, unlike grants and scholarships, are a type of financial assistance that must be repaid with interest so be sure to research your options carefully and borrow conservatively. Federal loans typically offer lower interest rates and better benefits than private alternative loans. You are strongly encouraged to maximize your federal loan eligibility prior to [&hellip;]<\/p>\n","protected":false},"author":51,"featured_media":0,"parent":42,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-401","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.ntcmn.edu\/myntc\/wp-json\/wp\/v2\/pages\/401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ntcmn.edu\/myntc\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.ntcmn.edu\/myntc\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.ntcmn.edu\/myntc\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ntcmn.edu\/myntc\/wp-json\/wp\/v2\/comments?post=401"}],"version-history":[{"count":5,"href":"https:\/\/www.ntcmn.edu\/myntc\/wp-json\/wp\/v2\/pages\/401\/revisions"}],"predecessor-version":[{"id":1416,"href":"https:\/\/www.ntcmn.edu\/myntc\/wp-json\/wp\/v2\/pages\/401\/revisions\/1416"}],"up":[{"embeddable":true,"href":"https:\/\/www.ntcmn.edu\/myntc\/wp-json\/wp\/v2\/pages\/42"}],"wp:attachment":[{"href":"https:\/\/www.ntcmn.edu\/myntc\/wp-json\/wp\/v2\/media?parent=401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}