Federal Student Loans

If you apply for the FAFSA to qualify for financial aid at Florida Gateway College, you may be offered federal student loans as part of your award offer. A federal student loan is money borrowed from the government to pay for college. The loan has to be paid back later, along with interest that builds up over time.

There are two types of federal student loans:

Direct Subsidized

Direct Subsidized loans are available to undergraduate students who demonstrate financial need. The U.S. Department of Education pays the interest while you’re in school at least half-time, for the first six months after you leave school (grace period).

Direct Unsubsidized

Direct Unsubsidized loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need. You are responsible for paying the interest during all periods.

Who qualifies for federal student loans?

Students must meet the following requirements to qualify for federal student loans:

• Enrolled or accepted for enrollment in an eligible degree or certificate program.
• Enrollment at least half-time (6 hours) at a school.
• U.S. citizenship or eligible non-citizenship.
• Satisfactory academic progress.
• Possession of a high school diploma or the equivalent.
• No default on any existing federal loans.

In order to receive any federal student loan offered, you must accept, decline, or reduce the loan through your MyFGC portal at my.fgc.edu.

Please keep in mind that if you decide to accept any loan offered, you will need to complete the following steps before you can have the funds from your loans in your account:

1. Entrance Counseling: All first-time loan borrowers must complete the entrance counseling session. This is a brief online course that ensures you understand the responsibilities and obligations of student loan borrowing. If you have completed the entrance counseling in the past for Florida Gateway College, you will not need to complete this again. To complete your entrance counseling, go to https://studentaid.gov/entrance-counseling/

2. Master Promissory Note (MPN): 1-2 business days after accepting your loan, ALL loan borrowers must sign an MPN. This is a legally binding document in which you promise to repay your federal student loan(s), as well as any accrued interest and fees to your lender or loan servicer. To sign your MPN, go to https://studentaid.gov/mpn/

For more details about federal student loans, please read our “Guide to Federal Student Loans” or visit or more information, visit www.studentloans.gov.

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Inceptia Information

At Florida Gateway we understand that student loans can be intimidating. That’s why we have partnered with Inceptia, a nonprofit organization, to provide you with free assistance on your student loan obligations to ensure you feel comfortable and can be successful in your loan repayment.

Inceptia may be calling to help you with next steps in your repayment journey. Their friendly counselors are there to help you every step of the way. While you are in your grace period, they might reach out to you to answer questions you may have on your repayment options. If you become delinquent on your loans, they may also contact you to help find a solution that works within your means.

The Inceptia counselors are there to help you with every step by staying in touch with you via phone calls, letters, and/or emails. They will not be collecting money from you. Inceptia’s nonprofit purpose is to help you find answers to your questions and solutions to your issues. We encourage you to visit Inceptia’s Student Knowledge HQ website at HeroKnowl.org.

Inceptia Student User Guide