Apply For loan – BC Knowledge for Students https://students.brooklyn.edu Search for answers to your questions Tue, 17 Mar 2026 18:12:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://students.brooklyn.edu/files/2022/03/cropped-favicon-3-32x32.png Apply For loan – BC Knowledge for Students https://students.brooklyn.edu 32 32 Loan Resources and Forms https://students.brooklyn.edu/knowledge-base/loan-resources-and-forms/ Fri, 31 Jan 2025 18:02:07 +0000 https://students.brooklyn.edu/?post_type=ht_kb&p=12248 The loan resource page contains the resources to assist you with the federal direct loan and private educational alternative loan processes:

  • Information Guides
  • Federal Direct Loan Request forms
  • Private Alternative Educational Loan Release form
  • Additional information including a link to deadline dates

Important Update About The Federal Direct Loan Request Process for 2026-2027

2026-2027 Why Are Loan Processes Delayed?
We want to let you know that Federal Direct Loan processing for the 2026-2027 year is currently delayed. Check back here for updates on timeline. Note that it may be as late as May or June 2026 until we have more information.

This delay is happening because the U.S. Department of Education is making required updates related to the OBD/OBBBA regulatory changes, and the final federal rules have not yet been fully implemented. Until those updates are complete, schools across the country—including ours—cannot move forward with certain steps in the loan process. 

One of the biggest changes is that students who are enrolled less than full-time will have their loan prorated down based on the number of credits they are taking. The rules concerning how that will be implemented have not been finalized yet.  

What this means for you:

You can still proceed with submitting a Federal Direct Loan request for 2026-2027 if you choose to.
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Your loan request, if submitted, will be on file and safe.

No action is needed from you right now after you submit.

Processing will start as soon as the federal rules are finalized and systems are ready. This may not be until May or June of 2026. Check back here for updates

We know delays can be stressful, and we appreciate your patience while the Department of Education to implement the final rules.

If you have questions or need help understanding the process, we’re here for you.

Information Guides

Federal and Private Alternative Loan Guides by Degree Type
Undergraduate Federal Student Loan Guide

Graduate Federal Student Loan Guide

Doctoral (Audiology) Student Loan Guide

Private Educational Alternative Loan Guide

Federal Direct Loan Request Forms

NOTE: You must be registered for at least six (6) credits to be able to submit a federal direct loan form.

Summer 2025, Fall 2025 and Spring 2026
Initial Federal Direct Loan Application (requires login on BC Web Central)

Federal Direct Loan Status Change (Increase/Reduce/Cancel) Form (requires login on BC Web Central)

Graduate PLUS Loan Application (requires login on BC Web Central)

Parent PLUS Loan Application (requires login on BC Web Central)
Summer 2026, Fall 2026 and Spring 2027
Initial Federal Direct Loan Application (requires login on BC Web Central) (Expected availability 3/13/2026. See section above about loan processing delays for 26-27)

Private Loan Forms

Alternative Private Educational Loan Release Forms
2026-2027 Alternative Loan Release Form (requires login on BC Webcentral)

2025-2026 Alternative Loan Release form (requires login on BC WebCentral)

2024–25 Alternative Loan Release Form (requires login on BC Web Central)

2023–24 Alternative Loan Release Form (requires login on BC Web Central)

Additional Information

Online Federal Direct Loan Counseling, Repayment & Loan History

Click for more Federal Direct Loan Resources
Complete Direct Loan Entrance Counseling

Sign a Master Promissory Note

Complete Student Loan Exit Counseling

Appeal a PLUS Credit Decision or Obtain an Endorser

Complete PLUS Credit Counseling

Complete TEACH Grant Counseling and Agreement to Serve

Managing Direct Loan Repayment, Deferments, and Forbearance

View Your Direct Loan Borrowing History

Federal Direct Loan Important Dates and Deadlines

Federal Direct Loan Application Important Dates and Deadlines

Federal Direct Loan Program Information

Federal Direct Loan Program Information
Federal Student Aid Direct Loan Webpage

Brooklyn College “Learn About Federal Direct Loans” for Undergraduate students Webpage

Brooklyn College “Learn about Federal Direct Loans” for Graduate students Webpage.

Alternative Private Educational Loan Information

ELM Select – CUNY Alternative Lender Comparison List

Brooklyn College “Alternative/Private Student Loans” webpage

CUNY Model Mode of Conduct

]]> Undergraduate Federal Student Loan Guide https://students.brooklyn.edu/knowledge-base/undergraduate-federal-student-loan-guide/ Wed, 29 Jan 2025 21:50:26 +0000 https://students.brooklyn.edu/?post_type=ht_kb&p=11987 This guide outlines the steps for the undergraduate student federal direct loan process. It also includes resources to help you navigate the student loan process and the CUNYfirst system.

(NOTE: Graduate students should review Graduate Student Loan guide and Doctoral (Audiology) Students should review the Doctoral Student Loan Guide)

Click here to jump to How to Apply for Federal Direct Subsidized/Unsubsidized Loan

Introduction

A Loan is money that you borrow and have to pay back with interest. Undergraduate students must file the FAFSA to determine eligibility for the Federal Direct Subsidized loan and Federal Direct Unsubsidized Student Loan.

Click to Read More about Federal Direct Loans
These loans have a loan origination fee which is deducted form the loan at the time of disbursement. The subsidized loan is a need based loan for which accrued interest is paid by the federal government while you are enrolled in college (for at least six credits). Interest on this type of loan therefore does not build right away. The unsubsidized loan, however, accrues interest from the time of disbursement.

The Parent PLUS loan is available only to parents of dependent undergraduate students and requires the parent to pass a credit check . It has a higher interest rate and loan origination fee that the subsidized or unsubsidized loan.
IMPORTANT Note about Borrowing
The Brooklyn College Office of Financial Aid recommends that you limit borrowing to what you need! We strongly encourage you to schedule an appointment with a financial aid advisor for financial aid planning especially if you have never borrowed from the federal direct loan or alternative programs before.

Who is offered a Federal Direct Loan?

Click to Read Answer
Undergraduate students are packaged with a Federal Direct Loan offer when they:

A)Filed a FAFSA for the relevant aid year
B) Will have an outstanding projected balance of $500 or more after other projected aid (grants such as TAP, PELL SEOG, Vallone etc) covering direct costs is considered
C) Are in an eligible undergraduate degree program

How to request a Federal Direct Loan if one was not offered?

Click to Read Answer
Undergraduate students who did not meet the above criteria and were not offered a Federal Direct Loan on their aid package and who would like to borrow must submit a loan request using the electronic Initial Loan form in the Dynamic Forms system. To do so they must be enrolled for at least six (6) credits before submitting the request.

What if I already accepted a Federal Direct Loan and want to change the amount?

Click to Read Answer
Students who have accepted the loan offer or students who have already submitted the direct loan application and been packaged with a federal direct loan may submit the Loan Status Change form to request an adjustment to their loan. Students with an offered loan can reduce it before they accept it (see step 6 below)

How Much Can I Borrow?

Annual Loan Limits for Direct Subsidized Loans and Direct Unsubsidized Loans

Student TypeDependent Undergraduate StudentsIndependent Undergraduate Students
First Year (freshman)$5,500 (maximum $3,500 subsidized)$9,500 (maximum $3,500 subsidized)
Second Year (sophomore)$6,500 (maximum $4,500 subsidized)$10,500 (maximum $4,500 subsidized)
Third Year (junior) and Beyond$7,500 (maximum $5,500 subsidized)$12,500 (maximum $5,500 subsidized)

NOTE – The amounts above reflect the maximum a student can borrow for the year. This generally one half of the annual maximum in the fall and one half in the spring. Starting 7/1/2026 a loan reduction schedule will apply for students enrolled less than full-time see the next section below for more information.

Loan Reduction for Students enrolled less than full-time (applicable starting 7/1/2026).

Major Changes Expected July 1st, 2026
Federal law, under the One Big Beautiful Bill Act (OBBBA), requires that the federal direct loan annual maximum be reduced if a student is less than full time for the academic year.

Full time for undergraduate study for the year at Brooklyn College is defined as 24 credits (generally 12 credits per term). Undergraduate students who enroll in less than 12 credits per term will have their loan adjusted down to reflect the percentage of what they are eligible to receive based on their enrollment.

Students may still be eligible to borrow the annual maximum if their combined enrollment for the year is equal to 24 credits. For example a student who takes 9 credits in the fall and 15 credits in the spring may be able to receive the loan amount not used in the fall in the spring term up to the annual maximum.

Additionally, students who initially enroll full-time and receive their first loan disbursement who subsequently withdraw to below full-time will have their future disbursement reduced to remain within the allowable percentage based on enrollment. This means that a student may potentially receive a higher disbursement in fall and a lower one in spring even though the student may be full-time in the spring.

A major change as a result of this provision is that students will no longer able to borrow the annual maximum in the first term of the academic year. The maximum that can be borrowed in that first term is 50% of the annual limit.

The final rules from the federal government defining how this law will be implemented have not yet been published. This information is preliminary and here to alert students to the coming changes. Check back here periodically for updates as more information becomes available about this change and how it will be implemented.

Aggregate Loan Limit: Maximum Total Outstanding Loan Debt

Student TypeDependent Undergraduate StudentsIndependent Undergraduate Students
Undergraduate$31,000 (maximum $23,000 subsidized)$57,500 (maximum $23,000 subsidized)

Lifetime Loan Limit: Maximum Borrowing for Life (starting 7/1/2026)*

Student TypeLifetime Limit
Undergraduate/Graduate/Professional$257,500
*Which loans are included in the lifetime limit and what else should I know?
This lifetime maximum includes borrowing at both the undergraduate and graduate/professional levels, but does not include Direct PLUS Loan borrowing.

The lifetime maximum does not change even if funds are repaid, forgiven, canceled, or otherwise discharged.

The lifetime maximum loan limit is effective July 1, 2026. Students who qualify for the grandfathering exceptions are not subject to the lifetime maximum loan limit during the exception period.

Loan Proration Requirement

Federal regulations require that a direct loan be prorated when student is enrolled in a program that is one academic year or more in length, but is in a remaining period of study that is shorter than a full academic year. As such students who graduate in the summer session or fall term will have their loans prorated based on the formula below.

Loan Proration Formula – Students enrolled less than the full year

Loan Proration Formula

How to Apply for or Accept a Federal Direct Subsidized/Unsubsidized Loan

Step 1 – Complete the FAFSA

Before you can be considered for a Federal Direct Loan you must first file and submit the FAFSA to determine that you meet the basic eligibility criteria for federal student financial aid programs. The FAFSA you file should reflect the academic year that you are planning to attend. For example if you are planning to enroll in the Fall 2025 and spring 2026 terms then you should file the 2025-2026 FAFSA.

Step 2 – Review Your CUNYfirst Financial Aid “TO-DO LIST” Items

If your FAFSA requires additional documentation, CUNYfirst will alert you by listing items on the Tasks tile in your Student Center. You must complete these items before any accepted or packaged loan will be able to disburse to you. To view your “To-Do List” log onto your CUNYfirst account at https://home.cunyfirst.cuny.edu.

NOTE: As long as the to do list item continues to display to you the process is incomplete and the loan will not disburse to you.

Step 3 – Review Your COST OF ATTENDANCE (Financial Aid Budget)

Your Cost of Attendance (which includes direct and indirect costs of your education) is used to determine the maximum amount of financial aid (grants, federal work-study, scholarships and loans) you may receive during an academic year. It is important to review your cost of attendance before borrowing so that you understand borrowing limitations. You cannot borrow or receive aid that is in excess of your Cost Of Attendance.

View your Cost of Attendance:

  1. Access the Financial Aid tile in your CUNYfirst Student Center.
  2. Confirm the appropriate aid year in the top left of the page (use the Change button if the current aid year is not the default). Note: the screenshot example below shows costs for the 2021-2022 year.
  3. Under the “Financial Aid Summary menu” on the sidebar select “Cost of Attendance”.

Step 4 – Enroll For Courses (at least 6 Credits)

You must be matriculated in an eligible undergraduate degree program and enroll for at least 6 credits of undergraduate coursework in the term(s) for which you are seeking the loan to be eligible for a loan disbursement.

Undergraduate programs ineligible for Federal Student Loans are: Non-Degree and Certificate programs not on this list.

Step 5 – Complete an Entrance Counseling Session and Sign your eMPN,

If this is your first time borrowing a Federal Direct Student Loan at Brooklyn College, you must complete the below requirements before your loan will disburse to you:

Entrance Counseling
Using your FSA ID (studentaid.gov account), sign into the Federal Student Aid portal to complete the ENTRANCE COUNSELING SESSION. Be sure to select CUNY Brooklyn College as a school to notify. If you have already completed one in the past you only need to change the school code to Brooklyn College.
eMPN- Promissory Note
On the Federal Student Aid portal sign the LOAN MASTER PROMISSORY NOTE (MPN) for undergraduate students. If you have signed an MPN for the particular loan type within the last decade then you would not need to sign a new one. If you are unsure of how long it has been since you last signed one it is recommended to sign a new one to avoid a disbursement delay due to an expiring promissory note.

NOTE: Make sure you are signing the correct type of promissory note for the type of loan you are borrowing. Other types of promissory notes for other types of loans are available on that webpage.

Financial Aid TV- Loan Entrance and Promissory Note Video

Step 6A – Accept, Reduce, or Decline your Subsidized and/or Unsubsidized Loan on CUNYfirst

Skip to step 6B if you do not have an offered loan on your financial aid package.

How To Accept/Reduce/Decline The Offered Loan
The offered loan will not disburse if it has not been accepted or if the steps above have not been completed.

The loan is offered as a fall/spring loan. This means that the loan amount will be divided evenly between the fall and spring terms. Depending on your tuition charges this may not be sufficient to cover your full balance.

You can accept, reduce, and then accept, or decline the annual loan award by following the steps outlined in the CUNYfirst Student Financial Aid Guide on or Information Guides page (refer to pages 11-12 in the guide).

NOTE: If you are seeking to borrow a semester only loan you must decline the offered loan and use the Federal Direct Loan Change Form to request a semester only loan.

Step 6B – Submit a Federal Direct Loan Request form in Dynamics Forms

Submit a Federal Direct Loan Request
To request the loan submit an initial loan request form in the Dynamic Forms system. The form is available on the Loan Resources and Forms BC Knowledge Article.

NOTE: the loan will not disburse if the steps above have not been completed.

Parent Plus Loan

Parents of dependent students may borrow to assist their child in meeting educational costs by submitting a Parent PLUS loan form in Dynamic Forms. The Parent PLUS loan allows parents to borrow up to the full annual cost of attendance (COA) minus other financial aid received (scholarships, federal student loans, private loans etc.).

As the parent is the borrower of the loan the loan proceeds are only issued to the parent directly. Parent PLUS loans are not disbursed or refunded to students.

Click to Read More about the Parent Plus loan
A credit check will be performed by the U.S. Department of Education during the origination process to determine parental credit eligibility for the Parent PLUS loan. The PLUS loan has a higher loan fee and interest rate.

The student must be enrolled for at least 6 credits.

A Parent who applies for a PLUS loan must:

1) Meet Federal Basic Eligibility Criteria

2) Sign the Parent PLUS Master Promissory Note (MPN) at studentaid.gov

3) Complete and submit their portion of the electronic Parent Plus Loan Dynamic Form

4) Pass the credit check (if you fail the credit check you may either obtain an endorser or appeal the decision. If you fail the credit check you must also complete PLUS Credit counseling even if you obtain an endorser or appeal the decision).

Pending Aid in CUNYfirst

Authorization and Pending Financial Aid
After you have accepted or been packaged with your loan, and completed all the necessary steps above allow a 3-5 business days for the loan to authorize. Once authorized, the loan will show on your CUNYfirst Student Center under the “Financial Account” tile as pending financial aid. Navigate to “Account Balance” on the menu sidebar to see your total charges, pending financial aid and how much you still owe (if anything). Pending financial aid means that it is approved but pending to disburse on the next available disbursement date.

For detailed steps on how to view pending financial aid refer to the CUNYfirst Student Financial Aid guide.

Loan Disclosure and Disbursement

How Disbursements Work
You will receive an official disclosure statement via email from the Direct Loan Servicing Center confirming your approved award and anticipated disbursement dates. Federal loans are issued in two separate disbursements. Initial Disbursement dates for the loan are indicated below. Disbursements occur each Monday (excepting legal holidays) following the initial disbursement date. Any disbursement that is in excess of the tuition and fees liability will refund on the Friday after the disbursement date via check or direct deposit.
Initial federal Direct Loan Disbursement Dates
Fall 2025 – September 2nd

Spring 2026 – February 2nd

Additional Resources

Click to learn more about Interest rates, exit counseling, repayment options, Federal Loan history and more
Federal Direct Loan Program Interest Rates and Loan Origination Fees

Loan Repayment

View your Federal Student Loan History

Federal Direct Loan Exit Counseling

Private Educational Alternative Loan Guide

Financial Aid TV – Loan Videos

Financial Aid TV Videos: Loan Overview

Financial Aid TV Videos: Loan Programs

Financial Aid TV Videos: Loan Repayment

Need More Help?

Review our Financial Aid Services page for more information on how to speak with a representative or schedule a financial aid planning session with a financial aid advisor.

General email inquiries may be sent to finaid@brooklyn.cuny.edu

General inquires by phone: Student Financial Services Call Center (718)-951-5051

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