Loan Reminders and Limits
Loans are delivered in two equal disbursements each semester. The first disbursement is delivered shortly after the 11th day of class. The second disbursement is delivered after the midpoint of the semester.
Students must be enrolled in at least six (6) credit hours and maintain those hours, to be eligible for a student loan. Dropping below half-time will affect your eligibility for future disbursements. Classes that you have successfully completed (a grade of D or better) will not be considered in determining your enrollment status for federal financial aid which includes student loans.
First year, first time borrowers do not have funds disbursed to PTC until 30 days after classes begin.
Dependent students may qualify for a Parent Plus Loan. Credit checks will be required for the parent borrowing the loan. Please visit the Direct Loan for Parents for more detailed information.
PTC encourages responsible loan borrowing. Students will automatically be awarded their maximum subsidized loan amount, or its equivalent in unsubsidized loan funds. As outlined in the Master Promissory Note (MPN) and Entrance Counseling, unsubsidized loans accrue interest while the student is enrolled.
Loan limits for an academic year:
Dependent freshman (1-29 earned hours) - maximum $3500
Dependent sophomore (30+earned hours) – maximum $4500
Dependent students may be eligible for an additional $2000 unsubsidized loan
Independent freshman (1-29 earned hours) - maximum $3500
Independent sophomore (30+ earned hours) – maximum $4500
Independent students may be eligible for an additional $6000 unsubsidized loan
Note: Students enrolled in a program that is one year in length will be considered a freshman. Aid is only awarded to programs approved by the U.S. Department of Education for funding.
Lifetime aggregate loan limits:
Undergraduate dependent students $31,500
Undergraduate Independent students $57,500
Request For Additional Unsubsidized Funds
Students may request additional unsubsidized loan funds. Before making a request, review your current monthly payment projection by clicking here and accessing the loan repayment calculator.
Students must complete the following steps to request unsubsidized loans:
Complete an MPN and Entrance Counseling, if these are not already on file with PTC.
Loan Update Request Forms will be processed after the 11th day of class. Once students have been awarded additional loans, the student will be required to accept or decline loans via the Online Award Letter through Campus Connect.
Loans will be disbursed and refunds made according to the refund schedule published on the PTC Student Accounts Page.
Note: Loan amounts and eligibility may vary based on a student’s cost of attendance, estimated family contribution, and other aid awards.