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Student LoansThe Federal Stafford Loan is available through the Federal Family Education Loan (FFEL) Program. Students borrow the funds from a bank, credit union, or other lender that participates in the FFEL Program. The FFEL Stafford Loans are either subsidized or unsubsidized. The FFEL Program also offers Parent Loans for Undergraduate Students (PLUS) for parents of undergraduate students. Students will need to complete the Online Loan Entrance Counseling Session before a loan can be certified at Southwestern.
How Will I Receive My Federal Stafford Loan? - Southwestern receives student loan funds via electronic funds transfer (EFT). This means that your loan funds will be electronically deposited into your student account via electronic funds transfer.
What Types of Loans are Available at Southwestern? - you can apply for the Federal Stafford Loan (subsidized and unsubsidized).
How Much Can I Borrow? - the annual loan limits for all students are reported below.
What is the Interest Rate? - Up-to-date information here: http://www.finaid.org/loans/scripts/interest.cgi Are Fees Deducted from the Loan? - Fees up to 3% may be deducted proportionately from each disbursement of the loan. These fees are for loan origination and/or guarantee processing. The borrower owes the gross amount before fees, but will receive a net amount after fees are deducted. When Does Repayment Begin? - Repayment of the Federal Stafford Loan begins six months after the student leaves college by graduating, withdrawing, or dropping below half-time (six credits or the equivalent). The minimum monthly payment is $50, and the maximum repayment period is 10 years. Repayment of the Federal PLUS can begin as early as 30 to 60 days after the first disbursement is made. Contact your lender regarding repayment terms. Online Loan Entrance Counseling Session - just click on the Mapping Your Future icon below to begin! Good Luck! When asked to give two references at the completion of the Online Counseling session, be sure that they are different than those listed on the loan application. |
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Policy | Contact Last revised: Thursday, June 18, 2009 © 1998 - 2005 Southwestern Oregon Community College 1988 Newmark Ave., Coos Bay, OR 97420 • (541) 888.2525 • 1.800.962.2838 • All rights reserved. Southwestern Oregon Community College is an equal opportunity educator and employer. |