Apply for a Federal Direct Student Loan
Learn about Federal Direct Student Loans and how they may help you pay tuition at BC.
General Information
Federal Direct Student Loans are a type of financial aid that students must pay back. If you wish to take out a Direct Student Loan, it becomes a part of your financial aid offer. Students who wish to take out a Direct Student Loan must apply for financial aid, and complete their files by the deadline of the quarter they wish to start taking classes.
How to Apply
Step 1: Complete the following on the Federal Student Aid website
Note: If you are a continuing student at BC, and previously applied for a student loan, you can skip this step, as this information should still be on file. You can verify this by logging into the BC Financial Aid Portal.
Step 2: Complete the Federal Direct Stafford Loan Application
- Financial Aid Forms Library – Federal and Private Loans
- Submit the application to the Financial Aid Office.
Step 3: Register for at least six (6) credits each quarter.
You must register for at least six (6) required degree credits each quarter in which you receive a loan.
Direct Student Loan Details
Annual Loan Limits
| Student Level | Maximum Stafford (subsidized and unsubsidized) | Maximum Subsidized |
|---|---|---|
| Dependent | ||
| First year | $5,500 | $3,500 |
| Second year | $6,500 | $4,500 |
| Third or Fourth year** | $7,500 | $5,500 |
| Independent | ||
| First year | $9,500 | $3,500 |
| Second year | $10,500 | $4,500 |
| Third or Fourth year** | $12,500 | $5,500 |
| **For students who pursue bachelor’s programs. | ||
Lifetime Limits
| Student Level & Dependency Status | Maximum Stafford (subsidized and unsubsidized) | Maximum Subsidized |
|---|---|---|
| Dependent undergraduate | $31,000 | $23,000 |
| Independent undergraduate | $57,500 | $23,000 |
Terms and Conditions
When you sign the Master Promissory Note (MPN) for your federal student loan, you’re certifying that you’ve read and agree to the terms of the MPN. Find out more details about borrowing a Federal Direct Stafford Subsidized and/or Unsubsidized Loan.
Eligibility
In order to be eligible for Federal Direct Student Loans you must ensure that you:
- are not currently in default on Stafford, Direct, or Perkins loan
- have not reached the maximum borrowing limits
- are not in repayment on a federal grant
Bellevue College loan cohort default rate
What is a cohort default rate?
For schools having 30 or more borrowers entering repayment in a fiscal year, the school’s cohort default rate (CDR) is the percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loans (FFELs) and/or William D. Ford Federal Direct Loans (Direct Loans) during that fiscal year and default within the cohort default period.
The phrase “cohort default period” refers to the three-year period that begins on October 1 of the fiscal year when the borrower enters repayment and ends on September 30th of the second fiscal year following the fiscal year in which the borrower entered repayment. This is the period during which a borrower’s default affects the school’s cohort default rate.
Cohort default rates are based on federal fiscal years. Federal fiscal years begin October 1 of a calendar year and end on September 30th of the following calendar year. Each federal fiscal year refers to the calendar year in which it ends.
BC’s most recent CDRs:
2019: 1.5%
2020: 0%
2021: 0%