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Loan and Payment Plan News

As of Fall 2014, one program will be discontinued and a new one started. This letter announces the changes.




May 1, 2014

This letter is to notify you that Wayne Community College will discontinue participation in the William D. Ford Federal Direct Loan Program effective Fall 2014. Several factors were considered in making the decision to discontinue this loan program. Wayne Community College student loan amounts have created a growing concern with many students taking on so much debt that they may be unable to repay their loans. In addition, Wayne Community College has experienced an increase in student loan default rates in recent years and if the trend were to continue, it would place the college at risk of jeopardizing all federal financial aid to students in the future.

Currently enrolled students with William D. Ford Direct Student Loans will be processed following established guidelines for the remainder of the 2013-2014 academic year. No new William D. Ford Direct Student Loan applications for the 2014-15 academic year will be processed.

Wayne Community College is committed to providing alternative means to assist students with methods of payment. As such, WCC is contracting with Nelnet Education Solutions to provide a deferred payment plan option. Effective Fall 2014, the Nelnet Payment Plan will allow students to pay for tuition and fees over two, three, or four equal installments throughout the semester. Additional information regarding the Nelnet Payment Plan will be available during Fall registration in July.

Thank you for your commitment to Wayne Community College and for allowing our professional faculty and staff to assist you in meeting your academic and career goals. We look forward to serving you in the future as you continue your educational journey at Wayne Community College.

If you have questions or wish to discuss other financial aid resources and options, please contact the Financial Aid Office at 919-739-6735.

Joanna Morrisette
Associate Vice President of Academic and Student Services