Many of you may have heard rumors about difficulties with the financial aid this quarter. It is true, that the economic crunch is impacting the federal student loan program across the nation and has finally hit HJC students.
In August, HJC had numerous lenders providing student loans to our students. Because of the lack of credit available to these banks, many of them have stopped participating in the federal student loan program. Unfortunately, they have not made the decision to stop at the same time. This has caused many students to have to complete multiple Master Promissory Notes for different banks.
The financial aid staff (Darlene, Patricia, and Lake) has been working hard to make sure they notify students as soon as they learn about a problem with a lender. However, we often don’t find out until a loan application is cancelled.
Please be confident that one of the financial aid staff will contact you directly if there is a problem with your loan. If you do not hear from them, you do not need to worry about the status of your loan….it is being processed as normal.
We are sorry for any inconvenience this may have caused you. This has been a difficult time for everyone, including the financial aid staff at HJC. We believe that the national credit crunch impacting the federal student loan program is finally manageable.
Thank you for your patience during this difficult time.
