Federal, State andÂ Alternative Educational Loan Information:
Federal Direct Stafford Loan (DL)
Borrower Required Counseling for Subsidized/Unsubsidized Loans:
- Federal Direct Stafford – ENTRANCE Counseling (New/Continuing borrowers )
- Federal Direct Stafford – EXIT Counseling (prior borrowers currently not enrolled or less 6 term credits)
What are the conditions for continued eligibility?
- COVID-19 Relief for Student Loan Borrowers (FedLoan Servicing)
- Maintain Satisfactory Academic Progress
- Maintain class attendance (faculty confirmation required).
- Maintain six (6) credits per term (audited courses excluded).
- Effective 2020-2021 academic year!Â Annual completion of the ‘Informed Borrowing Confirmation’ process (The Annual Student Loan Acknowledgment) is required for all Federal student loan borrowers.
Is there a time limit on how long I can receive loans?
If you are enrolled in a two-year associate degree program, the maximum period (authority) for which you can receive the Direct Federal â€śSubsidizedâ€ť Loan is three years (150 percent of 2 years = 3 years). Click for Subsidized/Unsubsidized differences.
What are the interest rates for federal student loans?
For interest rates and more visit Federal Student Aid – https://studentaid.ed.gov/sa/types/loans/interest-rates
How much can I borrow?
Undergraduate Student (excluding students whose parentsÂ cannot borrow a PLUS Loan *)
~ Combining Loan ~
(including dependent students whose parents were denied a PLUS Loan)
|Freshman (1st Yr)
(0 – 23 â€śearnedâ€ť CCM credits.Â Including
CCM â€śacceptedâ€ť Transfer credits).
$2,000 (addl. unsubsidized-loans first disbursed on or after July 1, 2008)*
|9,500 – Max of $3,500 can be in subsidized loan with an additional $6,000 Unsubsidized (first disbursed after 07/01/08), if qualify.|
|Sophomore (2nd Yr)
(24 – 48 â€śearnedâ€ť CCM credits.
Including CCM â€śacceptedâ€ť Transfer credits).
$4,500 (subsidized) $2,000 (addl. unsubsidized-loans first disbursed on or after July 1, 2008)*
|$10,500 – Max of $4,500 can be in subsidized loan with an additional $6,000 Unsubsidized (first disbursed after 07/01/08), if qualify.|
|Juniors, Seniors, etc.
(CCM approved program (Major) length.Â Including CCM â€śacceptedâ€ť Transfer credits.Â Excluding – Repeated credits earned/change in major).
$5,500 (subsidized) $2,000 (addl. unsubsidized-loans first disbursed on or after July 1, 2008)*
|$12,500 – Max of $5,500 can be in subsidized loan with an additional $7,000 Unsubsidized (first disbursed after 07/01/08), if qualify.|
* Dependent undergraduates whose parent(s) did not qualify forÂ a PLUS LoanÂ under this category, must submit proof ofÂ denial to the Office of Financial Aid in order to qualify for the additional federal unsubsidized stafford loan.
FEDERAL STUDENT LOAN DEFAULT SERVICES:
Coronavirus and Forbearance Info for Students, Borrowers, and Parents
Federal Student Aid Collections
Office of the Ombudsman
(resolve disputes and solve other problems with federal student loans)