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Pay Your Way through College with Loans

Because this is money you will have to pay back, WITC wants to make sure you fully understand how each type of loan works, so you can decide on the type of loan that are best for you. 

(Note: First time borrowers on or after July 1, 2013  may not receive Direct Subsidized Loans for more than 150% of the program length. For more information, please download and read this Federal Student Aid document.)

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Stafford Loan

Many students rely on federal government loans to finance their educations. These loans have low interest rates and provide a variety of deferment options and extended repayment terms. 

All Stafford Loans are either subsidized (the government pays the interest while you're in school) or unsubsidized (you pay all the interest, although you can have the payments deferred until after graduation). To receive a subsidized Stafford Loan, you must have financial need determined by the financial aid office.

With the unsubsidized Stafford Loan, you can defer the payments until after graduation by capitalizing the interest. This adds the interest payments to the loan balance, increasing the size and cost of the loan. All students, regardless of need, are eligible for the unsubsidized loan. The cumulative unpaid total of both Subsidized/Unsubsidized Federal Stafford Loans borrowed from WITC and other colleges may prevent you from borrowing additional loans to complete a degree at WITC. Contact the financial aid advisor at the WITC campus you will be attending for more information.

  • Applying and Accepting a Stafford Loan Online

    • This option allows students already approved for a student loan at WITC, the option of electronically processing and signing their Master Promissory Note (MPN) online.

    • In order to apply for and sign for your Stafford loan MPN online, you must be able to answer yes to the following statements:

      • You have been admitted to WITC-Ashland, WITC-New Richmond, WITC-Rice Lake, or WITC-Superior.

      • You have applied for federal financial aid through the FAFSA form.

      • You have received your Financial Aid Award Letter from the WITC Financial Aid Office and it states that you are eligible for a Federal Direct Stafford student loan.

      • You have the FSA ID used when you applied for financial aid readily available.

      • You have completed Stafford Loan Entrance Counseling

    • If you meet all of the conditions mentioned above, you may now apply for a Federal Direct Stafford Loan online.

    • Complete Your MPN

    • Download Student Loan Application Instructions

  • Entrance Loan Counseling

    • Entrance loan counseling is a federally mandated requirement for all first time student loan borrowers. If you have already borrowed a student loan, you do not need to complete this requirement again. The purpose is to help you understand your rights and responsibilities as a student loan borrower. The entire process should take you about 20 minutes. Entrance counseling must be completed before WITC will disburse your loan money.

    • Entrance Loan Counseling

    • MPN

  • Exit Loan Counseling

    • Exit loan counseling is a federal mandated requirement for all student loan borrowers who will graduate or no longer be enrolled at WITC at least halftime. The purpose is to help you understand your rights and responsibilities as a student loan borrower. The entire process should take you about 20 minutes.

    • Exit Loan Counseling   

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PLUS Loans

Parents of dependent students can take out loans to supplement their children's aid packages. The federal Parent Loan for Undergraduate Students (PLUS) lets parents borrow up to the total cost of attendance at their child's school, minus any other financial aid received. 

Repayment begins 60 days after the funds are fully disbursed, and the repayment term is up to 10 years.

PLUS loans are the financial responsibility of the parents, not the student. If the student agrees to make payments on the PLUS loan, but fails to make the payments on time, the parents will be held responsible. 

Apply for a Federal PLUS Loan


Are you ready to experience success? WITC staff are standing by to support you in reaching your educational and career goals, so do it. Take the leap.