Applying for financial aid and receiving money to save on college costs may seem like an overwhelming process, but we're here to help.

RCBC has a comprehensive financial aid program that includes scholarships, grants, loans and work-study opportunities to assist students in meeting college costs. Funds come from many sources including state and federal governments, local businesses and industry, and civic organizations.

Get Started

The first step to seeing if you're eligible for any federal or state aid, is completing the Free Application for Federal Student Aid, often referred to as the FAFSA.

Click here and use RCBC's federal school code: 007730

The FAFSA for the 2019/2020 academic year is now available.

Our name may still populate as Burlington County College when you search for us on your FAFSA application but we will still receive your information.

Need help completing your FAFSA?

Please contact the Financial Aid Office to schedule an appointment or for other assistance completing your FAFSA. 

Other Types of Aid

First-Time Borrowers
Federal Student Aid Notice!
Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013. 

If you are a first time borrower and want to receive a Federal Direct Loan at Rowan College at Burlington County you must complete the following 3 steps:

1. Complete the Free Application for Federal Student Aid (FAFSA) 

Complete the FAFSA and list Rowan College at Burlington County to receive the results.

RCBC's Federal School Code for use on the FAFSA : 007730

The FAFSA can be completed online here: http://www.fafsa.ed.gov

2. Complete Online Subsidized/Unsubsidized Direct Loan (MPN) Master Promissory Note

The MPN can be completed online here: https://studentloans.gov

You will be required to log in with your FSA User ID.

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. It also explains the terms and conditions of your loan(s). Unless your school does not allow more than one loan to be made under the same MPN, you can borrow additional Direct Loans on a single MPN for up to 10 years.

3. Complete Online Direct Loan Entrance Counseling

The Entrance Counseling can be completed online here: https://studentloans.gov

During the session you will learn of your rights and responsibilities as a borrower in the federal loan programs.
*This step is required for all first-time Loan borrowers by the U.S. Department of Education. 

4. Complete the Direct Loan Request form.

5. Check WebAdvisor to determine if your loan has been processed.

Make sure to give our office 3-5 business days to process your loan.

*It is important that you follow these steps as soon as possible in order for your loan eligibility to be processed. 

 

Annual Limits

Maximum amounts for each year of study

Grade Level

 

Base Amount*

 Additional Unsubsidized

Dependent Undergraduates

 

Freshmen

$3,500

$2,000

 

Sophomore

$4,500

$2,000

 

 

 

 

Independent undergraduates**

 

Freshmen

$3,500

$6,000

 

Sophomore

$4,500

$6,000

       

*If the borrower does not meet financial need for a subsidized Stafford Loan using the expected family contribution, or has reached the aggregate limit in subsidized Stafford loans, the borrower may receive this entire loan amount in unsubsidized Stafford loans provided the borrower has remaining eligibility.

 
       

**Includes dependent students whose parents are unable to borrow PLUS loans.

Continuing Borrowers
Federal Student Aid Notice!
Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013. 

If you are a returning student and want to continue to receive Federal Direct Loans at Rowan College at Burlington County you must complete the following steps:

1. Complete the Free Application for Federal Student Aid (FAFSA) .

Complete the FAFSA and list Rowan College at Burlington County to receive the results.

RCBC 's Federal School Code for use on the FAFSA : 007730

The FAFSA can be completed online here: http://www.fafsa.ed.gov

2. Register for classes (minimum of 6 credits is required).

3. Complete the Direct Loan Request form. 

4. Check WebAdvisor to determine if your loan has been processed.

Make sure to give our office 3 - 5 business days to process your loan.

*It is important that you follow these steps as soon as possible in order for your loan eligibility to be processed. 
*If you have not used a loan within the past year then a new MPN (Master Promissory Note) will be required.

 

Annual Limits

Maximum amounts for each year of study

Grade Level

 

Base Amount*

 Additional Unsubsidized

Dependent Undergraduates

 

Freshmen

$3,500

$2,000

 

Sophomore

$4,500

$2,000

 

 

 

 

Independent undergraduates**

 

Freshmen

$3,500

$6,000

 

Sophomore

$4,500

$6,000

       

*If the borrower does not meet financial need for a subsidized Stafford Loan using the expected family contribution, or has reached the aggregate limit in subsidized Stafford loans, the borrower may receive this entire loan amount in unsubsidized Stafford loans provided the borrower has remaining eligibility.

 
       

**Includes dependent students whose parents are unable to borrow PLUS loans.

PLUS Loans for Parents

Direct Parent PLUS Loans enable parents to receive funds from the U.S. Department of Education, to pay for their child's college education. A parent borrowing on behalf of an RCBC student has access to Federal Parent PLUS loans from the U.S. Department of Education’s William D. Ford Direct Loan Program. Loan funds are forwarded directly to the college from the U.S. Department of Education. 

 

PLUS Loan eligibility requirements:

  • Student must be a dependent student who is enrolled at least half-time (6 credit hours)
  • Parent must be the biological or adoptive parent of the student for whom they are borrowing
  • Parent cannot have an adverse credit history (a credit check will be done)
  • Both the parent and student must not be in default on any federal education loans or owe an overpayment on a federal education grant.
  • Both the parent and student must be U.S. citizens or eligible noncitizens.

 

How to Receive a Federal Direct PLUS Loan

To take out a Direct Loan for the first time, the parent must complete a PLUS Application and master promissory note (MPN). The MPN is a legal document in which the parent promises to repay student loan(s) and any accrued interest and fees to the Department. It also explains the terms and conditions of your loan(s).

  1. Complete the Free Application for Federal Student Aid (FAFSA) 
    The student must complete a FAFSA before borrowing any loans (or parents borrowing any loans) to maximize all aid eligibility.
    Complete the Free Application for Federal Student Aid (FAFSA) and list Rowan College at Burlington County to receive the results. RCBC's Federal School Code for use on the FAFSA is 007730. 
    The FAFSA can be completed online here:  http://www.fafsa.ed.gov
  2. Complete Account Creation with Department of Education
    Account creation can be completed by signing in to the Direct Loan Management Page.
    The website can be accessed here:  https://studentloans.gov
    Follow the instructions to log in where it reads Complete PLUS Request Process
    In most cases, once you've submitted the MPN and it's been accepted, you won't have to fill out a new MPN for future loans you receive to pay for the educational expenses of the same student. Unless your child's school does not allow more than one loan to be made under the same MPN, you can borrow additional Direct Loans on a single MPN for up to 10 years.

 

Credit Check & Endorser Alternative

When applying for a Direct PLUS Loan, the Department will check credit history. To be eligible for a PLUS Loan, the borrower must not have an adverse credit history. If your loan is denied due to adverse credit, you will receive further instructions from the Department of Education. You may choose to rehabilitate your credit standing or re-apply with an endorser (co-signer). Your student may be eligible for up to $4,000 additional unsubsidized Stafford loan funds if your PLUS loan is denied. Please contact the RCBC Financial Aid Office at (609) 894-9311 extension 1575 for more information.

 

Loan Limits, Interest Rates, and Loan Charges

There are no set limits for Direct PLUS Loans, but the parent may not borrow more than the cost of the students education minus any other financial aid received, such as a Direct Subsidized or Unsubsidized Loan. At the time of the MPN completion, please be sure to specify the dollar amount requested. The Financial Aid Office may certify the loan for an amount equal to OR less than the requested amount.

The interest rate for Direct PLUS Loans is a fixed rate of 7%. Interest is charged on Direct PLUS Loans during all periods, beginning on the date of the loan's first disbursement.

In addition to interest, parents pay a loan origination fee of 4.248%.  This fee helps reduce the cost of making these low-interest loans. Dependent students whose parents have applied for but were unable to get a PLUS Loan are eligible to receive additional Direct Unsubsidized Loan funds. If it is determined that a student needs the additional Unsubsidized funding, please complete the Federal Direct Loan Request Form available on the Financial Aid Forms page and submit a copy of the PLUS denial to the RCBC Financial Aid Office.

Exit Counseling
What is exit counseling?

Federal loans come with two primary learning opportunities: entrance counseling and exit counseling. Entrance counseling occurs at the start of your schooling, whereas exit counseling occurs at the end of your schooling. Exit counseling is your last occasion to learn about your rights and responsibilities regarding your student loans before it’s time to write that first check.

In exit counseling, you review the available repayment plans, which determine the amount of your monthly loan payment, and you get a preview of options you may qualify for should you run into trouble making a monthly payment. Exit counseling also teaches good money management strategies, so you know how to create a budget and pay your bills when you’re on your own.

 

When should I complete exit counseling?

Exit counseling is not only for graduates. You also need exit counseling if you withdraw or stop attending school, if you decide to transfer to a different school, or if you decide to go to school less than half time.

 

Additional Resources

Loan Repayment

Direct Loan Repayment Information

Repayment Information

When it's time to start paying back your student loan, you will receive a document called a "Repayment Disclosure" from your lender/loan servicer. If you do not receive this document before you enter repayment, contact your lender/loan servicer as soon as possible. Your lender/loan servicer will be able to tell you when your first payment is due, the amount of your payment, and where to send it. You must begin repayment on time even if you do not receive a Repayment Disclosure.

You MUST pay back your loan even if you didn't graduate, did not finish your education within the regular time frame, aren't satisfied with the education you received, or can't find a job.

 

Repayment Plans

Decide which payment plan may work best for you (if you qualify).

Standard This is the plan most borrowers will have when they enter repayment, unless they request otherwise.
Graduated This repayment plan was designed for borrowers who expect to make more money as they progress in their careers.
Pay As You Earn
(for Federal Direct Loan Program loans only)
This plan helps borrowers who may be experiencing financial hardship manage their monthly payments.
Income-Based (IBR) This plan helps borrowers who may be experiencing financial hardship manage their monthly payments.
Income-Contingent
(for Federal Direct Loan Program loans only)
This plan is designed to make repayment easier for students who pursue careers in fields that have lower salaries, for example, public service.
25-Year Extended Borrowers can make smaller monthly payments by extending the standard 10-year repayment term to 25 years.

For more information on repayment plans, click here.
For more information on making payments, click here.

Deferment/Forbearance

Everyone experiences financial difficulty at one time or another. Fortunately, you can usually postpone loan payments under certain circumstances using a deferment or forbearance.
A deferment or forbearance may be the right choice to keep your loan from entering default.

 

Deferment

Forbearance

What Is It

Deferment is a period of time during which your lender temporarily suspends your regular payments.

Forbearance is a period of time during which your lender temporarily reduces or suspends your regular payments.

Reasons to Apply

  • Enrollment in school
  • Economic hardship
  • Unemployment
  • Military service
  • Temporary financial hardship
  • Natural disaster
  • Internship or residency
  • National service

Loan programs come with limited amounts of deferment and forbearance time, so use these opportunities wisely.

For more information on postponing payments, click here.

students flipping notecards making it rain
Contact us.

Email: financialaid@rcbc.edu
Phone: (856) 222-9311, ext. 1575
Fax: (609) 894-0139