Student Loan Information
Terms and Conditions of Direct Loans
Direct Loans for Students
As a result of the Health Care and Education Reconciliation Act, beginning July 1, 2010, federal student loans will no longer be made by private lenders under the Federal Family Education Loan (FFEL) Program. Instead, all new federal student loans will come directly from the U.S. Department of Education under the Direct Loan Program.
On July 6, 2012, the President signed into law the Moving Ahead for Progress in the 21st Century Act (MAP 21). This law places a limit on Direct Subsidized loan eligibility for new borrowers on or after July 1, 2013. A first-time borrower is no longer eligible for Direct Subsidized loans once the borrower has received Direct Subsidized loans for a period of 150% of the length of the borrower's educational program. The borrower also becomes responsible for accruing interest during all periods as of the date the borrower exceeds the 150 percent limit. For detailed information on 150% Loan Limit visit Time Limitation on Direct Subsidized Loan Eligibility For First Time Borrowers:
A first-time borrower is a borrower who has no outstanding balance of principal or interest on a Direct Loan or FFEL loan on July 1, 2013. Borrowers who had a loan balance which has been paid in full prior to receiving loans after July 1, 2013 becomes a first-time borrower.
How do I request a Direct Loan?
#1) Complete a Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov
#2) Return all documents requested by the ISSA Financial Aid Office to complete your FAFSA application.
#3) Go to https://studentloans.gov to complete Direct Loan Entrance Counseling and the Direct Loan Master Promissory Note. Go to Manage My Direct Loan and click the Sign In button. You will need your social security number, the first two characters of your last name, your date of birth and your FAFSA username and password. Once you are signed, click on Complete Counseling. Under Choose Loan Counseling Type click the Start button for Entrance Counseling.
NOTE: If you have received Direct Loans prior to attending ISSA or previously completed Direct Loan Entrance Counseling, you do not need to complete the entrance counseling again.
Once you finish entrance counseling and click the Submit Counseling button, you will be at the Entrance Counseling Summary screen. Scroll down to the Next Steps section and click Complete a Master Promissory Note.
You will need reference information for two people with different U.S. addresses who have known you at least 3 years. The first reference should be a parent or legal guardian. NOTE: If you have completed a Direct Loan Master Promissory Note (MPN) within the last 10 years, you can confirm your MPN status by clicking on the link Completed MPNs at the left-hand side of the screen.
Are there fees for my Direct Loan?
The origination fees or all Direct Subsidized Loans and Direct Unsubsidized Loans can be found at https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized#additional-charges
When will I receive my loan money?
Student loans are paid in up to three equal disbursements during the selected loan period. For one-quarter loans, the loan is paid in two equal disbursements during the quarter, approximately 21 days after the start and midpoint.
In accordance with federal regulations, no loan money may be released sooner than ten days prior to the beginning of a quarter. If you are a first-time Direct Loan borrower, the 1st disbursement will be 30 days after the beginning of the quarter.
IMPORTANT! To receive Direct Loan funds, you must be enrolled at least half time (6.0 units). Please note the start date of your classes will affect when you will receive your student loan. Please refer to the Schedule of Class Start Dates to determine the start date of your classes:
How do I receive my loan money?
The Direct Loan is delivered to the student through the International Sports Sciences Association. Disbursements will be applied to the student's allowable charges and the student will receive any excess funds by check mailed to the address on file.
Please note - checks CANNOT be picked up!
When do I pay my Direct Loan back?
After graduating, leaving school, or enrolling less than half time, a student will have a six-month "grace period" before the first loan payment is due. All Direct Loans must be paid back with interest. Typically a student will have 10 years to repay their Direct Loan.
Terms and Conditions of Direct Loan Deferments
Information regarding the various deferments available to student and parent loan borrowers is available at the Department of Education website https://studentaid.ed.gov/sa/repay-loans
Terms of Loans Received, Repayment Schedules and Repayment
Generally, borrowers will have 10 to 25 years to repay their loan, depending on the repayment plan they choose. The loan servicer will notify the borrower of the date the first payment is due. If a repayment plan is not chosen by the borrower, the borrower will be placed on the standard repayment plan, with fixed monthly payments for up to 10 years. Repayment plans can be changed at any time by contacting the loan servicer. Information about standard repayment, extended repayment, graduated repayment, income contingent repayment (not available for parent PLUS loans), and income-based repayment can be found at https://studentaid.ed.gov/sa/repay-loans
Loan Entrance Counseling
Recipients of the subsidized and unsubsidized Federal Direct loans must attend entrance counseling prior to the first disbursement of loan funds. The following information will be included in the Loan Entrance Counseling that is available online at http://StudentLoans.gov:
- Explanation and use of the Master Promissory Note (MPN).
- Effect of accepting the loan on eligibility for other aid.
- Seriousness and importance of the repayment obligation.
- Option of paying interest on Unsubsidized Stafford and Graduate PLUS loans while in school.
- Interest accrual process and interest capitalization when a borrower elects not to pay interest or if the interest is not paid by the US Department of Education.
- Definition of half-time enrollment.
- Consequences of not maintaining at least half-time enrollment.
- Importance of contacting the appropriate office at the school if the student plans to withdraw before completing the academic program to allow the school to provide exit counseling to the borrower.
- Obligation to repay the loans even if: the borrower does not complete the program or does not complete the program within the regular time for completion, is unable to find employment, is dissatisfied with the school/program, or does not receive the services purchased from the school.
- The importance of repayment and the consequences of default, including adverse credit reports, Federal offset, and other Federal delinquent debt collection procedures and litigation.
- Sample monthly repayment amounts based on a range of levels of indebtedness or the average cumulative indebtedness of other loan borrowers within the same academic program as the borrower.
- Information regarding the National Student Loan Data System (NSLDS) and how a borrower can access and monitor his or her loan records.
- Name and contact information of the person the student can contact with questions regarding rights and responsibilities or loan terms and conditions.
- For first-time borrowers, explanation of the limitation on eligibility for Direct Subsidized Loans and possible borrower responsibility for accruing interest, including: (1) the possible loss of eligibility for additional Direct Subsidized Loans; (2) how a borrower’s maximum eligibility period, remaining eligibility period, and subsidized usage period are calculated; (3) the possibility that the borrower could become responsible for accruing interest on previously received Direct Subsidized Loans and the portion of a Direct Consolidation Loan that repaid a Direct Subsidized Loan during in-school status, the grace period, authorized periods of deferment, and certain periods under the Income-Based Repayment and Pay As You Earn Repayment plans; and (4) the impact of borrower responsibility for accruing interest in the borrower’s total debt.
Loan Exit Counseling
Students are required to attend a financial aid loan exit counseling session prior to graduating or shortly before ceasing enrollment of at least half-time study. Students who seek withdrawal from the school should see the Financial Aid Office to obtain exit counseling. Several topics presented at the entrance counseling session are again presented at the exit counseling. Exit counseling is required for all graduated, withdrawn, or dismissed students prior to exiting the institution as well as when a student ceases to attend at least half-time. If a student leaves school or chooses to postpone their education, the student should meet with a Financial Aid Administrator to understand the financial impact of this decision and to attend loan exit counseling. Exit counseling includes the following information:
- Explanation of all repayment plans available.
- Comparison of each type of repayment plan, including average projected monthly payments and the difference in interest and total payments.
- Explanation of the terms and conditions to obtain full or partial loan forgiveness or discharge.
- Explanation of the terms and conditions under which a borrower may obtain a deferment or forbearance.
- Debt management strategies to assist the student in successful loan repayment.
- Information regarding the average anticipated monthly repayment amount based on the student loan borrower’s actual indebtedness or the average indebtedness of student borrowers in the same academic program receiving the same types of loans.
- A review of the Master Promissory Note (MPN) and the student’s obligation to repay the loan.
- Explanation of the student’s responsibility to repay the loan even if the student did not complete the program, did not complete the program within the regular completion time for that program, is unable to obtain employment, or is dissatisfied with the education received.
- Explanation regarding the consequences of default, including adverse credit reports, Federal offset, other Federal delinquent debt collection procedures and litigation under Federal law.
- Effects of loan consolidation, including the effect on total interest and fees to be paid, length of the repayment term, effect on borrower benefits on underlying loans (grace periods, deferment, loan forgiveness, and loan discharge), option to prepay or change repayment plans, and how borrower benefits may differ between lenders.
- Explanation of the tax benefits available to the student.
- Information concerning the National Student Loan Data System (NSLDS) and how the student can use NSLDS to access his or her records.
- Information regarding the services offered by the student loan Ombudsman’s Office.
- Information containing: (1) descriptions of federal student assistance programs, (2) the rights and responsibilities of student and institutional participants, (3) ways in which students and prospective students can assess the debt burden and monthly and total repayment obligations for their loans.
- For first-time borrowers, explanations of (1) how a borrower’s maximum eligibility period, remaining eligibility period, and subsidized usage period are calculated; (2) the sum of the borrower’s subsidized usage periods at the time of exit counseling; (3) the consequences of continued borrowing or enrollment including: (a) the possible loss of eligibility for additional Direct Subsidized Loans and (b) the possibility that the borrower could become responsible for accruing interest on previously received Direct Subsidized Loans and the portion of a Direct Consolidation Loan that repaid a Direct Subsidized Loan during in-school status, the grace period, authorized periods of deferment, and certain periods under the Income-Based Repayment and Pay As You Earn Repayment plans; (4) the impact of borrower becoming responsible for accruing interest on total student debt; and (5) the Department of Education will notify the student borrower whether he or she is responsible for accruing interest on his or her Direct Subsidized Loans.
- The student’s obligation to keep the lender informed.
- The name and address of the lender.
In addition, the Financial Aid Office is responsible to collect the following information as part of the exit counseling and provide the information to the U.S. Secretary of Education within 60 days of receipt:
- Social Security Number
- Driver’s License Number and State
- Expected Permanent Address
- Name and Address of Next-of-kin
- Name and Address of Known or Expected Employer
National Student Loan Data System
National Student Loan Data System (NSLDS) is the U. S. Department of Education’s central database for Federal Student Aid. Student financial aid information is submitted to the NSLDS from schools, guaranty agencies, the Direct Loan program, the Pell grant program, and other Department of Education programs. NSLDS Student Access provides a centralized, integrated view of Federal Student Aid loans and grants so that recipients of funds from these programs can access and inquire about the Federal Student Aid loans and/or grant data. Once a student’s data is reported to NSLDS, this site and all of the student’s information contained within is accessible to Financial Aid Administrators, and guaranty agencies. In addition, students may access their own financial aid information by visiting this site. All users must sign-in and be an authorized user.
To access the site, visit www.nslds.ed.gov
Federal Student Aid Ombudsman
Students should contact the Financial Aid Administrator at the school with any questions or concerns regarding Federal Direct Subsidized or Unsubsidized Loans.
If a situation exists that a Financial Aid Administrator cannot resolve, students should follow procedures in the school catalog regarding Problem Resolution.
The U.S. Department of Education’s Ombudsman Office for student loan issues is also available. The Ombudsman
operates as a neutral party and informally researches and attempts to resolve a borrower’s issue.
Student borrowers can contact the Office of the Ombudsman via:
Online Assistance: https://studentaid.ed.gov/sa/repay-loans/disputes/prepare
For more information about the FSA Ombudsman, go to
or call 877.557.2575.
The mailing address is:
U.S. Department of Education
FSA Ombudsman Group,
P.O. Box 1843
Monticello, KY 42633
Fax number: 606-396-4821
If you have additional questions, please contact our office by emailing your financial aid advisor or by calling the Financial Aid office at 805-745-8111.
Referral of Overpayment and Fraud Cases
If ISSA discovers that a student received an overpayment of federal funds, the school will attempt to adjust subsequent financial aid disbursements. If this is not possible, the student will be required to repay the overpayment amount. Any applicant failing to repay the overpayment will be referred to the U.S. Department of Education for collection. Such applicants will be ineligible for future Federal student aid funds.
If an applicant misreports information or alters documents for the purpose of increasing his/her eligibility or for fraudulently obtaining Federal funds, the applicant will be reported to the Office of Inspector General, U.S. Department of Education.
Consumer Information from the U.S. Department of Education
Students and financial aid staff should reference the U.S. Department of Education websites for information regarding the regulations, requirements, and application for Federal Student Aid.
Financial Aid sites:
U.S. Department of Education: www.ed.gov
Applying for Federal Student Aid: www.fafsa.ed.gov
Information for Students: www.studentaid.ed.gov
Loan Code of Conduct Policy
This code of conduct is applicable to all officers, employees and agents of International Sports Sciences Association with responsibilities (directly or indirectly) with respect to private student loans. International Sports Sciences Association officers, employees, and agents subject to this policy are prohibited from doing any of the following, either on their own behalf or on behalf of International Sports Sciences Association:
* Participating in a revenue-sharing arrangement with any lender by which the lender pays a fee or provides other material benefits to the college or any officer, employee or agent subject to this policy in exchange for the college’s recommendation of that lender or its loan products;
* Receiving gifts from a lender, a guarantor, or a loan servicer;
* Accepting any contracting arrangement that provides financial benefit from any lender or affiliate of a lender;
* Directing borrowers to particular lenders or delaying loan certifications;
* Requesting or accepting from any lender any offer of funds to be used for private education loans in exchange for the college providing the lender with a specified number of loan volume of, or preferred lender arrangement for private education loans;
* Requesting or accepting any lender’s assistance with call center or Office of Financial Aid staffing; and
* Receiving anything of value from any lender, other than reimbursement for reasonable expenses, in exchange for service on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors.
Any employee who is offered any gift or monetary compensation from a lender should contact the Financial Aid office for clarification and guidance before responding favorably to that offer.
Should an employee subject to this policy inadvertently accept a gift or other type of monetary compensation from a lender, that employee must immediately notify the Department’s Director or Dean. The amount received, the name of the employee or agent, a brief description of the activity and the dates of the activity for which the expenses were paid or provided must be reported to the Department’s Director or Dean. The Director of Financial Aid is responsible for reporting this information annually to the Secretary of the Department of Education.
The Director of Financial Aid is responsible for notifying all officers, employees and agents of this requirement annually.
1. Federal regulations require all institutions that participate in the federal Title IV student loan programs to adopt a code of conduct that meets the requirements of 34 C.F.R. § 601.21.
If you have additional questions, please contact our office by emailing email@example.com or calling 805.745.8111.