Roane State Community College

Why Roane State Our Programs Student Resources Locations Apply Now Faculty/Staff Alumni/Community Workforce Programs

Financial Aid



The Student Loan Information and Amount Acceptance Form for 2015-2016 is available via RaiderNet by clicking on Your Financial Aid and selecting 2015-2016 Student Loan Information and Amount Acceptance Form.

Beginning with the 2015-2016 Aid Year (which starts in Fall 2015), Roane State Community College no longer participates in any alternative student loan programs (such as Sallie Mae or LendKey).

About Direct Loans

Direct Loans are low-interest loans for students that must be repaid. These loans are to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education, though most of the contact will be with your loan servicer. With Direct Loans, you

  • Borrow directly from the federal government and have a single contact—your loan servicer—for everything related to repayment, even if you receive Direct Loans at different schools.
  • Have online access to your Direct Loan account information via your servicer's website.
  • Can choose from several repayment plans, and you can switch repayment plans if your needs change.

Purpose of a Student Loan:

You may use Direct Student loan money you receive only to pay for your education expenses at the school that is giving you the loan.

  • Education expenses include school charges such as tuition, room and board, fees and indirect expenses such as books, supplies, equipment, dependent child care expenses, transportation and rental or purchase of a personal computer.

How to request your Student Loan (Federal Direct Loan) amount:

  1. Apply for financial aid (FAFSA) online at
  2. Submit all forms requested by Roane State (loans will not be processed until your FAFSA file is complete and verified in our office).
  3. Enroll in and attend a minimum of 6 hours.
  4. Submit all academic transcripts from previously attended colleges - even if you did not earn credit.
  5. Complete the Student Loan Information and Amount Acceptance Form (accessible through your RaiderNet account).
  6. Check your RaiderNet email for instructions as to when to complete Entrance Counseling and electronically sign MPN (if required).
  7. Make arrangements to cover your fees if funds are inadequate by deadlines posted in class schedule.

Entrance Counseling / Sign your Master Promissory Note for your Direct Loan

Exit Counseling

Types of Direct Loans:

  • Subsidized: for students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, during the grace period, and during deferment periods.
  • Unsubsidized: not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.
Year Dependent Students Independent Students

Yearly Loan Limits

First-Year Undergraduate
Annual Loan Limit

$5,500 - No more than $3,500 of this amount may be in subsidized loans. $9,500 - No more than $3,500 of this amount may be in subsidized loans.

Second-Year Undergraduate
Annual Loan Limit

$6,500 - No more than $4,500 of this amount may be in subsidized loans.

$10,500 - No more than $4,500 of this amount may be in subsidized loans.

Interest Rates

The interest rates listed in the table below are for Undergraduate Direct Subsidized and Unsubsidized Student Loans.

Date of First Disbursement Fixed Interest Rate
Fixed Rate Loans
7/1/15 - 6/30/16 4.29%
7/1/14 - 6/30/15 4.66%
7/1/13 - 6/30/14 3.86%

Terms & Definitions

  • Accrued Interest: the interest that accumulates on the unpaid balance of a loan(s).
  • Capitalization: Adding unpaid interest to the loan principal. Capitalization increases the principal amount of the loan and its total cost.
  • Default: failure to repay your loan(s) according to the terms of the promissory note. To recover money the school, lender or loan servicer, and/or state or federal government may pursue legal action.
  • Deferment: temporary postponement of your student loan repayment by your lender or loan servicer. You will need to contact your lender or loan servicer regarding the qualifications and requesting a form.
  • Disbursement: the lender releases funds to the school on your behalf.
  • Forbearance: permission from your lender or loan servicer to postpone, reduce, or extend loan repayment because of a serious hardship. Interest will continue to accrue during the forbearance. You will need to contact your lender or loan servicer regarding the qualifications and requesting a form.
  • Promissory note: A legally binding contract between a lender and a borrower. The promissory note contains the terms and conditions of the loan, including how and when the loan must be repaid.
  • Subsidized Direct Loan: A loan for students with financial need as determined by federal regulations. No interest is charged while you are in school at least half-time, during your grace period, and during deferment periods.
  • Unsubsidized Direct Loan: A student loan that is not based on financial need. Interest is charged during all periods.


FAQs for Direct Lending

How does repayment work if I have Federal Family Education Loans (FFEL) and Direct loans?

You will have to make separate payments to each lender.  You can also choose to consolidate with the Direct Loan program if you would like to make only one monthly payment.

How can I consolidate my loans with the Direct Loan program?
You may go to for more information regarding consolidation.

Where can I find information about who services my other federal loans?
You can find information about the servicers of your other loans at  You will use your FSA ID to access your information.

Student Loan Repayment

150% Direct Subsidized Loan Limit (SULA)

Roane State Community College
276 Patton Lane
Harriman, TN 37748-5011

(865) 354-3000 or toll free 866-462-7722
Block of links to social media and RaiderAlert Twitter Facebook YouTube Channel 15 Raider Alert
© Roane State Community College Tennessee's Community Colleges Tennessee Board of Regents / Tennessee Transfer Pathways Tennessee Board of Regents / TN eCampus

Roane State Community College is a TBR and AA/EEO employer and does not discriminate against students, employees, or applicants for admission or employment on the basis of race, color, religion, creed, national origin, sex, sexual orientation, gender identity/expression, disability, age, status as a protected veteran, genetic information, or any other legally protected class with respect to all employment, programs and activities sponsored by Roane State. View full non-discrimination policy.

Report Fraud, Waste and Abuse

Digital Millennium Copyright Act of 1998