Loans

Step 1:  Fill out your FAFSA Form

Triton College School Code: 001773

The Free Application for Federal Student Aid (FAFSA) is used to determine a student’s eligibility for federal financial aid, including grants, work-study, and federal loans.

The FAFSA is completed online at Studentaid.gov.  You may need the following information or documents as you fill out the FAFSA form:

• Your parents’ Social Security Numbers (SSNs) if they have SSNs and you are a dependent student
• Tax returns
• Records of child support received
• Current balances of cash, savings, and checking accounts
• Net worth of investments, businesses, and farms

The 2025/2026 FAFSA and your Financial Aid file must be completed before any loan requests can be processed.  After your FAFSA is received by the financial aid office, you may need to provide additional documents via your Student Forms account to complete your financial aid file, if needed. 

Please visit the financial aid office, located in Building B, Student Center, Room B-160, or email your Financial Aid specialist at finaid@triton.edu for assistance completing your FAFSA and Financial Aid file.  

Step 2:  Have Your Financial Aid File Reviewed for Federal Direct Loan Eligibility

Click on “Request a Direct Loan Eligibility Review” and submit your information. The Loan Specialist will review your financial aid file for Federal loan eligibility. Please allow up to 5 business days for your file to be reviewed.

Continue to monitor your Triton.edu email for updates.  The Student Loan Specialist may need to reach out for more information or required documentation.  Once your file is approved, the Loan Request Form task will be assigned to your Student Forms account and you will receive an email notification.

How to create a Student Forms account.

Step 3:  Submit All Required Documentation

All required documentation must be completed, submitted, and accepted before the loans will disburse:

• Complete the Loan Request Form task on Student Forms
• Provide additional documents such as an academic course plan or documents for address verification, if prompted
• All borrowers must complete their online requirements. Both are completed via your StudentAid.gov account
• Entrance Counseling for Triton College (School Code: 001773)
• Entrance Counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You'll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default.
• Master Promissory Note (MPN)
• The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education (ED). The MPN also explains the terms and conditions of your loan(s).

All Federal Direct Loans (FDLs) must be repaid.  It is your responsibility to know the amount and status of all your FDLs.

You can manage your loans, including viewing your loan servicer information and total amounts owed by accessing your studentaid.gov account.  Log in and view your Dashboard.

You can also click HERE to access for your loan information, including servicer contact information.

Find the right repayment strategy, and know your estimated repayment schedule.  Access the Loan Simulator available online by clicking HERE.

Verify you are not defaulted on any Title IV loans.  You are entitled to one free credit report per bureau per year.  Check your credit by clicking HERE.

If your loan goes into default, you will face serious consequences.  One or more of the following may occur.

KNOW THE CONSEQUENCES OF DEFAULTING ON A FEDERAL DIRECT STUDENT LOAN:

• Your entire unpaid balance can become due immediately
• You will lose your deferment options
• You will not be eligible for future Federal and State aid
• Your account will be reported to the credit bureaus.
• This can affect:
• Your ability to obtain a mortgage
• Car loans
• Business loans
• Personal credit
• Your account may be turned over to a collection agency
• The Federal government may take legal action
• Your Federal tax return may be seized to pay off your debt
• You may not be able to be licensed by some professional organizations

Default occurs when the borrower fails to make payments on their student loans for at least 270 days.  Your servicer will send out reminders and warning notices if you fail to make payments 

Some steps you may take to help avoid defaulting on your student loans:

• Notify your school and loan servicers of any changes to your personal information, including but not limited to changes:
• To your legal name
• To your permanent address
• To the phone number you provided
• Be aware of who your servicer is and the amounts you owe.
• Access your studentaid.gov account and manage your loans.
• Stay in contact with your lender/loan servicer.
• Make payments on time.
• Contact them to ask for forbearances when you need them.
• Make sure your loans continue to be deferred while you are in school a minimum of half-time enrollment (6 credit hours).
  • Most schools auto-report your enrollment, however, it is your responsibility to verify your enrollment is reported to your lender/servicer.
  • You may need to submit enrollment verification if your lender/servicer requires it.  Contact them for information.
• Borrow conservatively
• Requested loan amounts should be calculated by adding up your educational expenses and subtracting any grants/gifts/payments and work earnings.
  • Grants, scholarships, Federal Work-Study benefits should all be explored and applied to your account before you decide on the amount to borrow.
• Only borrow what you absolutely need to attend school.
• Know what your expected salary will be after graduation.
  • Use the Loan Calculator on studentaid.gov and calculate your estimated monthly payments.
    • Will your expected salary be enough to cover the monthly payments?
• Be mindful that you will owe not only what you borrow, but interest as well.

Loans are split into a minimum of TWO disbursements.  For single semester loans, the first disbursement of the semester is at least 30 days after the start date of the semester.  The second disbursement is at least the mid-point of the semester. 

Summer loan disbursement dates vary by class start date.  Depending on your earliest class start date, disbursements are calculated at 50%-60% of the class length.

Full-Year Loan requests will be disbursed into two disbursements as well.  One disbursement in the first semester, another disbursement in the second semester, both at least 30 days from the start of the semester.

You will receive an email when the loan funds are awarded and again when they are disbursed.  Make sure you check your student email @triton.edu.

All financial account activity can be accessed via your Triton Portal.

Have you received an award email notification?  If you have not, that means your loan is still being processed. 

*Please note that during peak times, it can take 2-3 weeks for your loan request to be processed – not including disbursement time*

After the initial disbursement date, disbursements are made weekly.  Loan requests continue to be processed in the order they were received.      

Make sure you have completed both online requirements listed on the Loan Request Form:

• Entrance Counseling
• Master Promissory Note

Check your triton.edu email for any emails from Financial Aid or Loan Support.  You may have received an email regarding the status of your Standards of Academic Progress (SAP), or another potential issue.

Have you received an email notification stating that your funds have been applied to your account?  If not, please wait for this notification.

All Financial Aid funds, including loans, are automatically applied to the current semester’s balance before any student refunds are processed.  Please allow the Cashier’s Office 1-3 business days to apply your disbursement to the account balance. 
 
For the fastest processing, enhanced security, and convenience, set up or update your banking information for direct deposit via your Self-Service account. Allow up to 5 business days for direct deposit set up. You can also view the status of your direct deposit account via your Self-Service account.

Students who do not set up direct deposit, or fail to set up direct deposit in time for loan disbursements will experience delays in receiving their refund checks via mail. Please allow up to 14 days for your check to arrive.

If 14 days have elapsed since the check was mailed out and you have not yet received it, you can request a stop-payment on the check, and the Cashier’s Office will re-issue your refund check. 

Please contact the Cashier’s Office for more information at 708-456-0300, Ext. 3229 or via email at  cashieroffice@triton.edu.