Weatherford College participates in the Federal Direct Loan Program. Loans are available through the Subsidized/Unsubsidized Stafford and Parent PLUS Loan programs. Since these are loans that must be repaid, careful consideration should be given before deciding to enter into a loan agreement. Students and parents should explore every available resource before borrowing to help fund their educational expenses.
Before applying for a loan, students must have a completed file in the Financial Aid Office. In addition, students must:
- complete a Master Promissory Note;
- be enrolled in an eligible program;
- be taking a minimum of 6 hours (1/2 time enrollment). Students are encouraged to complete as many full time semesters as possible in order to make the most of their educational opportunities;
- complete an entrance counseling session prior to receiving their first loan at WC;
- complete an exit counseling session prior to dropping below 1/2 time status, transferring to another institution or graduating from WC.
Additional information about the federal loan programs including application procedures, loan limits, disbursements procedures and repayment options is available by contacting the Weatherford College Student Loan Officer.
NOTE: 150 Percent Rule for Federal Direct Subsidized Loans - Effective July 1, 2013, federal regulations have added a new provision to the Federal Direct Loan requirements that limits a first-time borrower’s eligibility for Federal Direct Subsidized Loans to a period not to exceed 150% of the length of the borrower’s educational program. Under certain conditions, the provision also causes first-time borrowers who have exceeded the 150% limit to lose the interest subsidy on their Federal Direct Subsidized Loans.