College of the Siskiyous participates in the William D. Ford Federal Direct Loan Program. In order to qualify for a Direct Loan, a student must do the following:
NOTE: College of the Siskiyous does not participate in the Alternative Loan Program nor do we process any summer loans.
Please read the following before applying for any loans:
What are Direct subsidized and unsubsidized loans?
Subsidized Direct Loans are need-based. The federal government pays the interest on the loan while you are in school, during the grace period before repayment begins, and during periods of approved deferment. Monthly payments begin six months after you graduate, drop below half-time or withdraw from school.
Unsubsidized Direct Loans are not based on financial need and are available to you regardless of income. Because this loan is not subsidized by the government, you are responsible for all interest which accrues during in-school, grace and deferment periods. You may choose to make periodic interest payments to the lender or opt to have the accrued interest capitalized (added on to) the principle loan amount.
How much can I borrow?
(amounts listed are maximum and will be adjusted to fit individual Cost of Attendance)
Type of Student |
Subsidized |
Additional Unsubsidized (except students whose parents cannot borrow PLUS) |
TOTAL AMOUNT FOR SUBSIDIZED AND UNSUBSIDIZED LOANS. |
Dependent |
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Freshman (less than 30 college credits completed) |
$3,500 |
$2,000 |
$5,500 |
Sophomore (more than 30 college credits completed) |
$4,500 |
$2,000 |
$6,500 |
Independent |
|||
Freshman |
$3,500 |
$6,000 |
$9,500 |
Sophomore |
$4,500 |
$6,000 |
$10,500 |
Parents and stepparents with good credit histories can borrow up to the total cost of their dependent's education, minus any other aid for which the student is eligible. Parents must repay the loan even if their dependent does not complete his or her education. Parents will need a FAFSA PIN number to apply. Sign in to complete the Plus request process.
APPLY FOR A DIRECT LOAN ONLINE:
As easy as 1,2,3!
Below are the required three steps to receive a Direct Loan at College of the Siskiyous. You will need your FAFSA PIN issued to you by the Department of Education in order to complete the Entrance Counseling and Master Promissory Note. You can request a copy of your PIN if you do not remember it at www.pin.ed.gov
.
| STEP 1: | Complete the Entrance Counseling at the Department Of Education website. You will not need to bring in a copy, we will receive it electronically. PLEASE PRINT CONFIRMATION AND BRING A COPY WITH YOUR LOAN REQUEST FORM. |
| STEP 2: | Once you have completed the Entrance Counseling you may now sign a Master Promissory note with the Department of Education. |
| STEP 3: | Complete the College of the Siskiyous Loan Request form. The form MUST be submitted to the College of the Siskyous Financial Aid Office before your loan can be processed. (if you cannot open this file please be sure you have the latest Adobe Reader. It is a free download) |
Disbursement schedule
Generally there are two disbursements per academic year. The first disbursement is made 30 days after the loan has been processed. Second disbursements are given after academic progress is reviewed, generally 30 days after the spring semester begins.
STUDENTS MUST BE ENROLLED AT LEAST TWO WEEKS PRIOR TO THE BEGINNING OF SPRING SEMESTER IN ORDER TO RECEIVE A SECOND LOAN DISBURSEMENT
Please be sure that you understand the rights and responsibilities of student loans before applying.
Vicki Wrobel, Director
Andrea Castro, Veterans/General Information
Jennie Cannon, Work-Study/Scholarships/General Information
Karen Chandler, General Information
530-938-5209
finaid@siskiyous.edu