Discover the ins and outs of student loans.

Even though Monroe Community College offers an affordable education, you may need to apply for a loan to help pay for your tuition, books, food and other necessities. There are several loan programs available, which can help fund all your educational needs.

Before you apply for a loan, it’s important to know that loans need to be paid back and you’ll also be charged interest on the money you borrow.

MCC recommends a Direct Loan from the federal government, which offers low interest rates to students and their families.

MCC federal school code: 002872

MCC TAP school code: 2180

First time applying for a loan?

Federal Direct Stafford Loan

Federal Direct Parent Loan For Undergraduate Students (Plus)

NOTE: You must accept, adjust or decline every student loan you’re offered. You can do this through the MCC Banner Student Self-Service System.

Private educational loans

Banks and other financial institutions offer private institutional loans to help with the cost of your education. These loans are not guaranteed student loans and are generally based on income and credit history. Interest rates and fees are set by each individual lender. Most students would be required to have a cosigner to obtain one of these private loans.

If you’re considering taking out a private educational loan, you should research each individual program carefully. These loans are generally at a higher interest rate and you should consider them only as a last alternative, after you have explored all federal aid options. To explore some of your Private Loan options, please visit the FASTChoice website.

For more information watch our Financial Aid Videos: