Loans are a form of financial aid that MUST BE be paid back.
Think seriously before committing to a loan.
The college offers subsidized, unsubsidized or parent plus Direct Loans.
Recommend students have and maintain a 2.0 GPA at all times. See Satisfactory Academic Progress (SAP) Standards.
To apply for a loan a student must do the following:
· Be enrolled in at least 6 units
· Submit a FAFSA application, even if you don’t think you are eligible for aid
· Wait to receive an Award Letter from the Financial Aid Office at Citrus College
· Pick up loan application which includes instructions on how to apply
Direct Loans are low-interest loans for students and/or parents to help pay for educational expenses after high school. The amounts will vary. The Programs include:
· Subsidized Federal Stafford Direct - Loan
Direct Subsidized Loans are loans for students with financial need, as determined by federal regulations. No interest is charged while student is in school at least half-time, during grace period, and during deferment periods. (Loans need to be paid back.)
· Unsubsidized Federal Stafford Direct - Loan
Direct Unsubsidized Loans are loans for students that are not based on financial need. Interest is charged during all periods. (Loans need to be paid back.)
· Direct PLUS - Loan
Parents of dependent student can get Federal Direct PLUS Loans, which are low-interest loans to help parents meet college costs.
Last day to turn in a loan application for the 2011 fall semester is November 14, 2011.
Disbursement will be paid on December 8, 2011.
The loan application for the 2012 Spring semester will be available beginning February 22, 2012.