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Loans are available to students and
parents. Eligibility is determined through the FAFSA.
Separate loan forms and processes must be completed.
Repayment is in accordance with the terms of the loan.
- Available to all students enrolled
in at least 6 credits.
- There are two types of federal
Direct Student Loans, Subsidized
(interest paid by taxpayer funds) and
Unsubsidized (interest paid by
borrower). Some students may only be
eligible for the Unsubsidized Loan.
- Students must be enrolled in an
eligible degree or certificate program
(non-matriculated students not
eligible).
- Student must be making required
satisfactory academic progress.
- Making required satisfactory
academic progress.
- Eligibility for loan funds is
determined by need, cost of attendance,
estimated family contribution and the
number of credits completed in your
program of study.
- Interest rate is 6 % for Subsidized
loans, 6.8% for Unsubsidized loans; loan
fees are approximately 0.5% of the
amount borrowed
- Repayment begins 6 months after
dropping below half-time (below 6
credits). All students who receive a
loan must complete Exit Counseling upon
withdrawal or graduation from Shoreline.
- Eligibility is determined through
the federal application process.
Students must submit the FAFSA, the
Shoreline CC Data Sheet and complete
all other required steps, including
submitting the
Loan Request Form, and the
electronic Master Promissory Note, and
the Entrance Counseling.
Federal loan available to parents of dependent
students; not based on student "need;" 4% loan fees;
7.9% interest rate. Students must first complete all
steps in the financial aid application process.
1) Parents must complete the Master Promissory Note
for Parent PLUS loans. This is completed on the web:
https://dlenote.ed.gov; choose "Complete New MPN for
Parent PLUS Loans."
2) Student and Parent borrower complete the Parent
PLUS Loan Form and submit it to the Financial Aid Office
at SCC. This form is available in the Financial Aid
Office at SCC or
here on the SCC Web site. The U.S. Department of
Education will conduct a credit check on the parent
borrower.
These loans are for students admitted
to the Nursing program. A completed financial aid file
is required to apply for the Nursing Student Loan. Loans
up to $2,500 a year may be made to those who demonstrate
financial need. These loans must be repaid during a
10-year period after completing the degree program.
Interest rate is 5% and is deferred as long as the
student is enrolled at least half-time (6 credits) while
pursuing a degree in the Nursing field.
As higher education costs continue to rise, many
college students find that they need to look beyond
traditional financial aid. Before considering a private
loan, make sure you've applied for any financial aid you
might be eligible to receive:
- Talk to the financial aid staff at
SCC or the school of your choice.
- Research scholarship possibilities.
If you need help with the application
process, ask for help from the financial
aid office. A good place to start is
www.fastweb.com "" a free scholarship
search Web site.
- Explore all other financing options
including work-study programs,
scholarships and grants, and federal
Stafford, Perkins and PLUS Loans.
- Before borrowing, check with your
financial aid office to determine how a
private loan affects your aid
eligibility. These loans usually count
as a part of your financial aid package
and can reduce your eligibility for
other aid.
- Ask if your school has a list of
banks, savings and loans, and credit
unions that they recommend for private
loans.
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