Student Loans

 WKCTC Participates in the William D. Ford Federal Direct Loan Program. Loans made through this program are referred to as Direct Loans, because eligible students and parents borrow directly from the U.S. Department of Education, rather than private lenders. Student loans must be paid back.

The One Big Beautiful Bill Act (OB3) Impact on Financial Aid

These changes to Federal Aid begin on July 1, 2026, and are subject to change as more guidance becomes available from the U.S. Department of Education.

• Undergraduate students who are less than full-time (6 - 11 credit hours enrolled): Federal loan eligibility will now be calculated by the enrollment percentage of full-time credit hours (defined as total hours / 12 = percent of annual loan limit, by term)
  • Example: Student A is enrolled in seven (7) credit hours as a freshman: 7/ 12 = 58 percent. $2750 x 58% = $1595 of federal loan eligibility for the Fall 2026 term.
    Students who withdraw from the course with a “W” will be held to the same standards.

Undergraduate students enrolled in less than 6 credit hours are not eligible for Federal Direct Student Loans.

Applying for a Student Loan

You must first complete the Free Application for Federal Student Aid (FAFSA). You must also complete a Stafford Loan application and return it to the Financial Aid Office. Upon receiving a Stafford Loan, you must visit studentaid.gov and complete the following:

• Online Entrance Counseling.
• Electronically sign your Master Promissory Note (MPN).
• Accept any portion of student loan via their self-service account.

When do I have to repay my loan?

You receive a six-month grace period before starting repayment on Stafford Loans after dropping below half-time study, graduation from college, or leaving school for other reasons. It is very important to communicate with the Financial Aid Office throughout your enrollment to ensure you stay in good standing with your loan. The college provides many resources to help manage student debt and repayment.

What is the interest rate on a student loan?

The rate can change per year; however, the rate should not rise above 8.25%