Cuyamaca College:Federal Direct Loan Program
William D. Ford
Federal Direct Loan Program
Direct Unsubsidized Loan:
These loans are available to all eligible students and are not based on financial need. You are responsible for all interest payments (or
capitalization of interest) from the date the loan is disbursed.
If your total borrowing is $15,000 or more, in addition to your student loan application, you will be required to provide a budget worksheet with documentation of expenses and resources as well as an educational plan based on your educational goal. The Financial Aid Director has the discretion to deny a request for a student loan on a case-by-case basis.
If you wish to borrow additional unsubsidized loan amounts above the base amount, you will need to make an appointment with the Financial Aid Supervisor to discuss your request.
Payment of principal (the amount borrowed) will not be required while you are enrolled at least half-time. Regular monthly payments on the principal (the amount borrowed) will begin six months after you leave school, drop below half-time status, or graduate. The 6-month Grace Period no longer applies to the interest rate for Subsidized Stafford Direct loans. Interest on Subsidized Direct Loans begins accruing immediately when the student is no longer enrolled at least ½-time. It may take up to ten years to repay the loan(s).
Deferment is available while enrolled at least half-time (6 or more units). Once the initial grace period ends and repayment begins, deferment for resumption of study requires half-time enrollment. Units cannot be combined between two colleges for deferment purposes.
The following examples show typical monthly payments and total interest charges for 6.80% loans of varying amounts, with typical repayment periods:
For more detailed information on all of your student loan options, including repayment and consolidation, please visit Department of Education at www.studentloans.gov
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