Student loans are a form of financial aid that must be repaid, with interest, typically beginning six months after you graduate, withdraw or drop below half-time enrollment status.
CCBC offers federal student loans depending on your year in school and eligibility. You can also apply for private loan funding.
Subsidized student loans are awarded to students who require financial aid and are enrolled in a minimum of six credits/billable hours (half-time enrollment). The federal government pays interest while students are in school during their grace period and during deferments. Interest rate information is available through the loan servicer, who will notify students when their loan disburses. An origination fee is applied to each loan disbursed. The percentage of the fee is reduced when disbursing to a student account.
Unsubsidized student loans are awarded to students who are enrolled in a minimum of six credits/billable hours (half-time enrollment). There is no requirement for students to demonstrate financial need. Interest rates are calculated from the first disbursement. Interest rate information is available through the loan servicer, who will notify students when their loan disburses. An origination fee is applied to each loan disbursed. The percentage of the fee is reduced when disbursing to a student account.
Direct PLUS loans allow parents of dependent undergraduate students to help pay for college or career school. These federal loans can also help cover additional education expenses. The loan servicer provides the interest rate and origination fees for parents.
Direct loan consolidation permits borrowers to combine multiple federal loans into one loan. The combination results in one simplified monthly payment, and can give borrowers access to more loan repayment plans and forgiveness programs. However, this option may result in the loss of some borrower benefits.