Loans

Step 1:  Fill out your FAFSA Form

Triton College School Code: 001773

The Free Application for Federal Student Aid (FAFSA), becomes available for the following year on October 1^st of every year.  For example, the FAFSA for the academic year of 2022/2023 became available this past October 1, 2021.

The FAFSA Form is used to determine your federal aid eligibility, including Federal Direct Loans.

You can complete your FAFSA online, or visit the Financial Aid office, located in Building B, Room B160 for help.  Please bring in your tax returns from two years prior.  For example: if you are filling out a 2022/2023 FAFSA, then you will need your tax returns from 2020.   

Your Financial Aid file must be complete before you can be awarded any loan requests.  Please reach out to the Financial Aid

Step 2:  Request the Triton Loan Request Form

Click on the “REQUEST A FEDERAL DIRECT STUDENT LOAN - 2024/2025 ACADEMIC YEAR” button located at the top of the page. Fill out your information and submit. The Loan Specialist will review your Financial Aid file for Federal Loan eligibility and then assign the Federal Student Loan Request task on your Student Forms account. Please allow up to 2 business days for the task to be assigned.

Once the Federal Loan Request task is assigned, you will then be required to complete the task and submit your request. Once your form is submitted, two other tasks will auto-populate. You will be required to upload your valid, government-issued, photo-ID, and the Student Loan Acknowledgement which you will download, sign, and then upload to complete your request task.

If you have questions or need assistance accessing your Student Forms account please call the Financial Aid Office at 708-456-0300, ext. 3155. You are also very welcome to visit the Financial Aid Office in person to use our Financial Aid computer lab to complete your Loan Request Form and receive assistance from our Financial Aid Clerks. You may contact the Loan Specialist via email at loansupport@noujcf.com.

Step 3:  Complete the Online Requirements*

Listed on the Loan Request Form are 2 check-off boxes for Online Requirements. 

• Entrance Counseling:  Must be completed before taking out a loan with Triton College. 

If you have completed entrance counseling with Triton College in past years/semesters, it will not need to be completed with each new application. 

• Master Promissory Note: First-time loan applicants must complete an MPN.  An MPN is valid for 10 years if it has been linked to a previous student loan within the previous year.  If it has been over 1 year since your last FDL, you will need to complete a new MPN.

* Your loan will still be awarded but not disbursed if these online requirements are not met

All Federal Direct Loans (FDLs) must be repaid.  It is your responsibility to know the amount and status of all your FDLs.

You can manage your loans, including viewing your loan servicer information and total amounts owed by accessing your studentaid.gov account.  Log in and view your Dashboard.

You can also click HERE to access for your loan information, including servicer contact information.

Find the right repayment strategy, and know your estimated repayment schedule.  Access the Loan Simulator available online by clicking HERE.

Verify you are not defaulted on any Title IV loans.  You are entitled to one free credit report per bureau per year.  Check your credit by clicking HERE.

If your loan goes into default, you will face serious consequences.  One or more of the following may occur.

KNOW THE CONSEQUENCES OF DEFAULTING ON A FEDERAL DIRECT STUDENT LOAN:

• Your entire unpaid balance can become due immediately
• You will lose your deferment options
• You will not be eligible for future Federal and State aid
• Your account will be reported to the credit bureaus.
• This can affect:
• Your ability to obtain a mortgage
• Car loans
• Business loans
• Personal credit
• Your account may be turned over to a collection agency
• The Federal government may take legal action
• Your Federal tax return may be seized to pay off your debt
• You may not be able to be licensed by some professional organizations

Default occurs when the borrower fails to make payments on their student loans for at least 270 days.  Your servicer will send out reminders and warning notices if you fail to make payments 

Some steps you may take to help avoid defaulting on your student loans:

• Notify your school and loan servicers of any changes to your personal information, including but not limited to changes:
• To your legal name
• To your permanent address
• To the phone number you provided
• Be aware of who your servicer is and the amounts you owe.
• Access your studentaid.gov account and manage your loans.
• Stay in contact with your lender/loan servicer.
• Make payments on time.
• Contact them to ask for forbearances when you need them.
• Make sure your loans continue to be deferred while you are in school a minimum of half-time enrollment (6 credit hours).
  • Most schools auto-report your enrollment, however, it is your responsibility to verify your enrollment is reported to your lender/servicer.
  • You may need to submit enrollment verification if your lender/servicer requires it.  Contact them for information.
• Borrow conservatively
• Requested loan amounts should be calculated by adding up your educational expenses and subtracting any grants/gifts/payments and work earnings.
  • Grants, scholarships, Federal Work-Study benefits should all be explored and applied to your account before you decide on the amount to borrow.
• Only borrow what you absolutely need to attend school.
• Know what your expected salary will be after graduation.
  • Use the Loan Calculator on studentaid.gov and calculate your estimated monthly payments.
    • Will your expected salary be enough to cover the monthly payments?
• Be mindful that you will owe not only what you borrow, but interest as well.

Loans are split into a minimum of TWO disbursements.  For single semester loans, the first disbursement of the semester is at least 30 days after the start date of the semester.  The second disbursement is at least the mid-point of the semester. 

Summer loan disbursement dates vary by class start date.  Depending on your earliest class start date, disbursements are calculated at 50%-60% of the class length.

Full-Year Loan requests will be disbursed into two disbursements as well.  One disbursement in the first semester, another disbursement in the second semester, both at least 30 days from the start of the semester.

You will receive an email when the loan funds are awarded and again when they are disbursed.  Make sure you check your student email @noujcf.com.

All financial account activity can be accessed via your Triton Portal.

Have you received an award email notification?  If you have not, that means your loan is still being processed. 

*Please note that during peak times, it can take 2-3 weeks for your loan request to be processed – not including disbursement time*

After the initial disbursement date, disbursements are made weekly.  Loan requests continue to be processed in the order they were received.      

Make sure you have completed both online requirements listed on the Loan Request Form:

• Entrance Counseling
• Master Promissory Note

Check your noujcf.com email for any emails from Financial Aid or Loan Support.  You may have received an email regarding the status of your Standards of Academic Progress (SAP), or another potential issue.

Have you received an email notification stating that your funds have been applied?  If not, please wait for this notification.

Otherwise, Financial Aid funds are automatically applied to the current semester’s balance before the student refunds are processed.  Please allow the Cashier’s Office 1-3 business days for processing.  If you did not request your funds to be held at the cashier window, the refund check is mailed to the address on file.  Mailing time is typically 3-7 business days.

If you did request for your refund check to be held, please wait for another email notification stating your check is ready for pick-up.

If 14 days have elapsed since the check was mailed out and you have not yet received it, you can request a stop-payment on the check, and the Cashier’s Office will re-issue your refund check. 

Please contact the Cashier’s Office for more information at 708-456-0300, X-3649, or via email at cashieroffice@noujcf.com.