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.
Students must have and maintain a 2.0 GPA at all times. See SatisfactoryAcademic 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
· Bring the Award Letter into the office and pick up an application which includes instructions on how to apply for loans
Direct Loans are low-interest loans for students and parents to help pay for educational expenses after high school. They 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 spring semester is May 3, 2010.
Disbursement will be paid on June 9, 2010.