CCBC participates in the Department of Education's Federal Direct Loan Program which includes subsidized, unsubsidized for students, and parent (PLUS) loans.
Applying for a Student Loan
You may be eligible for a Federal Direct loan even if you are not eligible for a Federal Pell Grant. CCBC does not automatically award student loans. Please follow these instructions:
1. Submit the Free Application for Federal Student Aid (FAFSA).
2. Submit any requested financial aid documents. You can find these requirements in your CCBC SIMON account.
3. In this order, complete the following requirements:
a. Federal Direct Loan Request Form
b. Complete online entrance counseling. Online entrance counseling must be completed each academic year.
c. Electronic Master Promissory Note (e-MPN).
4. Participate in Exit Counseling when you graduate from CCBC, withdraw, or if you attend less than half-time.
Direct Loan Information
Subsidized Loan
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Financial need required
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Enrolled in a minimum of 6 credits/billable hours (half-time)
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Federal government pays all interest on subsidized loan as long as you are enrolled at least half-time, during your grace period, and during deferments
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Subsidized loans disbursed from July 1, 2012 through June 30, 2013 will have a fixed interest rate of 3.4%.
Unsubsidized Loan
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Financial need not required
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Enrolled in a minimum of 6 credits/billable hours (half-time)
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Interest accumulates throughout the life of the loan
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Unsubsidized loans have a fixed interest rate of 6.8%.
Parent Loan (PLUS)
Direct Loan Consolidation
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Borrowers are able to combine subsidized and unsubsidized loans into one loan.
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Visit Direct Loan Servicing Center for loan consolidation information.
Loan Limits
Annual (Fall, Spring, and Summer)
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Subsidized
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Unsubsidized
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Total*
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First-Year Dependent (0-27 credit hours earned)
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$3,500
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$2,000
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$5,500
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Second-Year Dependent (28 or more credit hours earned
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$4,500
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$2,000
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$6,500
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First-Year Independent (0-27 credit hours earned)
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$3,500
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$6,000
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$9,500
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Second-Year Independent (28 or more credit hours earned)
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$4,500
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$6,000
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$10,500
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* Based on your FAFSA data, cost of attendance, expected family contribution (EFC), and other financial aid or resources, your loan may be certified for less than you requested. By Federal regulations, the Financial Aid office will award your maximum subsidized eligibility first.
Lifetime Loan Limits for Undergraduates
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Dependent $31,000 (no more than $23,000 may be subsidized)
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Independent $57,500 (no more than $23,000 may be subsidized)
Loan Disbursement Information
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First-time CCBC borrowers receive their first loan disbursement 30 days after the start of classes
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Continuing/returning CCBC borrowers receive their first loan disbursement about three (3) weeks from the start of the semester.
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Refunds are processed by the Bursar's office and are mailed to your home address on file with CCBC within 14 days from the date of disbursement.
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Loan proceeds are disbursed in two equal payments for fall and spring loans or semester-only loans.
Learn more about Federal Student Loan Servicing or call (800) 848-0983.
Student Loan Ombudsman
The FSA Ombudsman receives, reviews, and attempts to resolve informally, complaints from loan borrowers. The Ombudsman also compiles and analyzes data on complaints and makes appropriate recommendations.
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Internet: http://ombudsman.ed.gov
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Toll-free telephone: (877) 557-2575
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Fax number: (202) 275-0579
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Mail:
U. S. Department of Education
FSA Ombudsman
830 First Street, NE
Fourth Floor
Washington, DC 20202-5144
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