Student Loans
When you receive a student loan, you are borrowing money to attend a college or career school. You must repay the loan as well as interest that accrues. It is important to understand the different types of student loans and repayment options so you can successfully repay your loan.
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Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school. A SUBSIDIZED loan is one where the government pays the interest on the loan while the student is in school.
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Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need. An UNSUBSIDIZED loan is one where the government does not pay the interest while the student is in school, that is, the student is responsible for paying the interest.
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Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.
Along with completing the Direct Plus Loan application, BRTC requires the borrower(s) complete the following BRTC Direct Plus Loan application.
- Direct Consolidation Loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.
- Private Student Loans are made by private organizations such banks, credit unions, and state-based or state-affiliated organizations, and have terms and conditions that are set by the lender. Private student loans are generally more expensive than federal student loans.
Online Requirements
Entrance Counseling and Master Promissory Note (1st time borrowers only) http://studentaid.gov
Loan History http://studentaid.gov
Occupational Wages http://www.ziprecruiter.com/
Salaries Loan Calculator https://finaid.org/calculators/loanpayments/
Voices of Debt Video https://youtu.be/uPcSYrPx3Ao
Online Loan Presentation http://mybrtc.blackrivertech.org/financialaid/loans
This date schedule is intended only to give students an approximate time frame to expect a loan refund. Students who APPLY for loans or who are AWARDED loans AFTER these dates have occurred will receive their first disbursement at a later date. BRTC processes loan disbursements once per month to accommodate those students who made loan requests after the semester had begun.
The “once per month” disbursement dates are subject to change from month to month; therefore, students are advised to check BRTC/GMAIL regularly to check for the notification message sent by the Business Office that a refund check has been issued IF a refund is expected.
2023-2024 Disbursement Dates
Your refund checks will be mailed 7-10 business days from the dates listed below.
| Returning Students | 1st Disbursement | 2nd Disbursement | |
| Fall | 8/31/2023 | 10/17/2023 | |
| Spring | 1/26/2024 | 3/11/2024 | |
| Summer I | 6/8/2024 | 7/12/2024 | |
| Summer II | 7/12/2024 | ||
| Summer I and II | 6/8/2023 | 7/12/2024 | |
| 1st Time Entering | 1st Disbursement | 2nd Disbursement | |
| Fall | 9/14/2023 | 10/17/2023 | |
| Spring | 2/8/2024 | 3/7112024 | |
| Summer I | 7/12/2024 | ||
| Summer II | Not Eligible | ||
| Summer I and II | 7/12/2024 | ||