To apply for a Federal Direct Student Loan through NICC, you will need to complete the following:

ALL students wishing to borrow must complete step 1.  First time borrowers must also complete steps 2 and 3.

  1. Federal Direct Loan Request Form

    (If you are a first-time borrower, you must also  complete steps 2 and 3)
  1. Federal Direct Loan Promissory Note
  1. Federal Direct Loan Counseling
Note: Upon completion and submission of the Federal Direct Loan Request Form, you will be redirected back to this page to complete # 2 (Promissory Note) and # 3 (Loan Counseling). Upon completion of either or both # 2 or # 3, you will need to return to this page to complete the remaining steps.

Northeast Iowa Community College
Federal Direct Student Loans

Northeast Iowa Community College (NICC) administers three Federal Direct Student Loans. Students must first complete their Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov and have received notification from NICC that a student loan(s) has been awarded and offered. The three types of loans include:

  • Federal Direct Subsidized Loan Low interest educational loan offered by the federal government and awarded on the basis of need. The federal government pays the interest while the student is enrolled at least half-time. Repayment begins six months after graduation or when the student drops below half time enrollment. The federal government withholds an origination fee of 1%.
  • Federal Direct Unsubsidized Loan Low interest educational loan offered by the federal government and not awarded on the basis of need. The borrower is responsible for all interest, which occurs during any enrollment, grace, deferment, or forbearance period. You can choose to pay the interest or allow it to accumulate. If you allow it to accumulate, it will be capitalized meaning it will be added to the principal amount of your loan and will increase the amount you have to repay. Repayment begins six months after graduation or when the student drops below half time enrollment. The federal government withholds an origination fee of 1%.
  • Federal Direct PLUS (Parent) Loan (For parents of dependent students) Please contact the Financial Aid Office for more information and to request an application.

If you completed your FAFSA and received correspondence from the Financial Aid Office that you qualify for a loan, you may apply for the loan up to the maximum amount indicated on your award letter as long as you are enrolled at least half-time. Half-time for fall and spring semesters is six credits and half-time for summer semester is five credits.