Loan
Application Process
-
Complete
Loan Session. Please be sure to select "California" and
"Rio Hondo College" when you are required. Since you have
never received a loan at Rio Hondo College be to select the
"Entrance Exam".
-
Complete
the Master Promissory Note (MPN) and
Information Request Form and submit to the Financial Aid
Office.
-
The
Financial Aid Office will process and mail the MPN to the
lender
of your choice.
-
The
Financial Aid Office will notify you, by mail, that your check has
arrived and is ready for pick-up.
MPN
Deadline
To ensure
receipt of your loan check by the standard loan disbursement date,
the MPN and
Information Request Form must be received at the Financial Aid Office no later
than:
Friday, October
19, 2007 for a fall semester disbursement
and
Friday,
March 21, 2008 for spring semester disbursement.
The
Financial Aid Office will process loan applications on a first
come, first serve basis.
The
FINAL DEADLINE to submit a
application is:
Friday,
November 30, 2007
if applying for
fall semester only loan;
Friday,
May 2, 2008
if applying for
spring semester only loan or if applying for a fall and
spring semester loan.
Loan
Disbursement~Loan Checks
Loan funds will
be disbursed in two equal amounts, minus the origination and
guarantee fees.
Funds will
be received via a “check” made payable to the student at Rio Hondo
College. If the student has a debt with college, all debt to
the College must be paid before receiving any loan check(s).
Most loan
funds are disbursed in one standard disbursement per semester.
However, if a loan is processed for one semester only, loan funds
will be received in two equal amounts, within the one
semester.
The
standard disbursement for fall semester is Monday,
November 5, 2007. The second
disbursement for one semester loans is scheduled for Monday,
December 10, 2007.
The
standard disbursement for spring semester is Monday, April
21, 2008. The second disbursement for one semester
loans is scheduled for Monday, May 19, 2008.
Loan checks
are disbursed through the Grants and Loans Window of the
Accounting Office. The Grants and Loans Window is open Monday –
Thursday, 9 a.m. - 12 p.m. and 1 p.m. - 4 p.m. It is closed
Fridays. Checks can be disbursed in the evening between 4:30 p.m.
- 6:30 p.m. by appointment only.
Important Note:
Rio Hondo
College is no longer responsible for the loan check once it has
been received by the student. We strongly advised all students
to arrange for a bank account to deposit the money. If the
check is cashed at a check cashing facility, a fee may be
assessed.
You have
thirty (30) days from the date of the check to pick it up at the
Accounting Office windows or the Rio Hondo College Financial Aid
Office will return the check to the lender.
Limit your
borrowing to what you need.
Check out the
Bureau of Labor website for
information on different career incomes.
