| Term | First Day to Submit | Last Day to Submit |
|---|---|---|
| Summer 2024 | 5/1/2024 | 7/19/2024 |
| Fall 2024 | 7/3/2024 | 11/1/2024 |
| Spring 2025 | 1/3/2025 | 4/4/2025 |
| Summer 2025 | 4/4/2025 | 7/11/2025 |
College of the Siskiyous participates in the William D. Ford Federal Direct Loan Program. In order to qualify for a Federal Direct Loan, a student must do the following:
Note: College of the Siskiyous does not participate in the Alternative Loan Program.
What are Federal Direct subsidized and unsubsidized loans?
Subsidized Federal 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.
Unsubsidized Federal 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 principal loan amount.
For both Subsidized and Unsubsidized Federal Direct loans, repayment begins six months after you graduate, drop below half-time, or withdraw from school. You will be contacted by your loan Service. To view your loan history and additional information, log onto https://studentaid.gov/ using your FSA ID. The ECMC logo at the bottom of this page will connect you to their website which contains repayment information.
(amounts listed are maximum and will be adjusted to fit individual Cost of Attendance)
| Type of Student | Subsidized | Unsubsidized | Total Loan Amount |
|---|---|---|---|
| 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 |
| Type of Student | Subsidized | Unsubsidized | Total Loan Amount |
|---|---|---|---|
| Freshman | $3,500 | $6,000 | $9,500 |
| Sophomore | $4,500 | $6,000 | $10,500 |
**To be considered a 2nd-year undergraduate for loan purposes, you must have completed 30 or more college units. If you want to use other college units to qualify as a 2nd-year undergraduate, your transcript(s) from other schools must be evaluated before your loan is processed. Take your unopened official transcript(s) to the Admissions and Records office and make sure you indicate you want your transcript to be evaluated for Financial Aid purposes. We can print copies for you to take to Counseling Services.
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 FSA ID and password to apply for a Direct PLUS Loan for Parents.
Federal Direct Loan Interest Rates
Generally there are two disbursements per academic year. The first disbursement is made 30 days after the first day of class. Loan requests received after this will follow the Pell Disbursement schedule. 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.
We have teamed up with Solutions at ECMC to answer all of your student loan repayment questions. Solutions is a service of the non-profit organization ECMC and is dedicated to helping students manage educational loans. Their resources are available to you free of charge. To contact a Solutions Student Loan Repayment Advisor, email or web chat, or call them at (877) 331-3262.
Email: financialaid@siskiyous.edu
Phone: (530) 938-5209
Fax: (530) 938-5367
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