New Policy on Federal Student Loan Payment for New DMACC Online Students
Students taking only online classes who access Federal Direct Student Loans at DMACC for the first time will be paid in two separate parts during the semester.
The first half will be applied to the DMACC student’s account no earlier than the 45th day of the semester to ensure the student remains enrolled and actively participating in coursework.
The second half will be scheduled to be applied to the DMACC student’s account the day after the Quit Attending (QA) reporting period. This normally occurs after the midpoint of the semester. QA reporting is when professors report the status of whether a student has been attending class. If it is determined the student is no longer attending at least halftime, then the second half of the student’s federal loan(s) will be cancelled.
This policy for new DMACC student loan borrowers taking all online classes focuses on preventing student loan default and fraud involving financial aid assistance.