Federal Student Loans - Understanding Your Commitment
An education loan is a legally binding contract that must be repaid with interest even if you do not graduate or are unable to find employment. You are not obligated to accept loan funds if you don't need them.
Federal Student Loans
There are a variety of Federal loans available depending on your status and need:
To complete your loan process you must click on the E-sign your MPN link on the Lender wheel.
Federal Stafford Loans
Click here to apply for undergraduate and graduate student borrowers. Federal Stafford Loans will cover some portion of education costs at Digital Media Arts College. Most borrowers will need to apply for Federal Parent PLUS, Grad PLUS or private loans to cover the remaining education costs at DMAC.
Normally, funds are released in installments to coincide with the academic terms. Loan funds will be issued directly to the school and distributed according to established procedures. Any refund due to you will be mailed or if applicable credited to your DMAC Debit Card. Funds can only be used for education related expenses. You must continue to meet all eligibility requirements at the time funds are received by the college for disbursement to your student account.
Alternative/Private Loans are available for those students who require additional financial resources to cover the cost of education at DMAC after all federal grant and loan program options have been exhausted. Click on the "Other Available Loans" link at left for more information.
