On March 30, 2010, President Obama signed the Health Care and Education Affordability Reconciliation Act of 2010 into law. One of the major changes of the Act is that private lenders will no longer be able to originate any Federal Loans. Because of this, beginning July 1, 2010 CVA will make a complete transition to the Federal Direct Loan Program. The U.S. Department of Education is the lender with the Direct Loan program rather than a bank or financial institution.
To apply for a Federal Direct Loan, you must complete student loan entrance counseling and a Master Promissory Note (MPN). The MPN is a continuous promissory note that needs to be submitted only once while at CVA. Please print a copy of both the MPN and the Entrance Interview Confirmation for your records. If you prefer not to complete this process online, please contact the CVA Office of Financial Aid for more information on completing a paper application.
Federal Direct Student Loan Processing
Note to parents: Whe applying for the PLUS Loan be sure to "login" into StudentLoans.gov using your assigned PIN - not your son or daughter's.
To apply for a Federal Direct PLUS Loan, you must complete the CVA Direct PLUS Request Form and the Master Promissory Note (MPN). The MPN is a continuous promissory note that needs to be submitted only once while the student is at CVA. Click on the link below to complete the MPN process. Please print a copy of the MPN for your records. If you prefer not to complete this process online, please contact the CVA Office of Financial Aid for more information on completing a paper application.
CVA PLUS Loan Guide
Current students only -- If you need assistance with an alternative loan for spring 2013 please come to the financial aid office. All alternative loan for spring semester must be disbursed on or prior to May 15, 20133.
Alternative loans are loans for students through banks and other private lending sources. These loans are typically in the students name and will require a cosigner for most students. Interest rates are variable and typically based on the credit rating of the borrower and/or cosigner. For help determining a loan amount, please see the CVA Financial Aid Office. The CVA Financial Aid Office reminds students to exhaust all of their federal student loan options before looking at alternative loan programs.