Students must complete the FAFSA to be considered for a Direct Loan. Students will be notified through their school portal and/or student email of the Direct Student Loan offer along with other federal financial aid offers extended after eligibility has been determined. First-time borrowers must complete an entrance counseling session and sign a promissory note online at www.studentaid.gov. The student is the borrower, and repayment generally begins six months after the student graduates or drops below half-time enrollment status. Per federal regulations, a student must be enrolled for at least half-time (6 hours) at the time of disbursement. Student loans are offered with the assumption the student will be enrolled full-time. If you are enrolled less than full-time, your loan amounts may be reduced, canceled, or moved to an unsubsidized loan to correct a subsidized loan over-award. Students who have financial needs may receive a Subsidized Direct Loan, which will not accrue interest while the student is in school at least half-time. Students who do not have financial need may receive an Unsubsidized Direct Loan, which will accrue interest while the student is in school. Freshmen may borrow up to $3,500 per academic year, and sophomores may borrow up to $4,500 per academic year. Loan funds are disbursed approximately 30 days after each term begins for first-time borrowers and 14 days for repeat borrowers. Students may qualify for additional unsubsidized funds and must inquire in the Financial Aid Office about eligibility.
- Type
- course
- Edition
- 0041
- Source
- catalog.suscc.edu