Student Loan ProgramsFor students who do not qualify for grants or scholarships or need additional funds to meet their educational expenses, there are loan programs to help fund educational needs. To be eligible for loans, the student must submit a FAFSA, maintain Satisfactory Academic Progress (SAP) standards, be degree seeking, and enroll /attend at least six credit hours per semester.
FOR STUDENTS: William D. Ford Federal Direct Loan Program
- Subsidized Direct Loan: A federally subsidized student loan is made on the basis of the student's financial need and other specific eligibility requirements. Subsidized loans have subsidized interest, which means that the federal government pays the interest on these loans while borrowers are enrolled at least halftime.
- Unsubsidized Direct Loan: An unsubsidized student loan is not based on financial need. Eligibility is based on a student's overall financial aid budget. Interest is capitalized and starts to accrue when the loan is disbursed.
For both subsidized and unsubsidized loans, the borrower begins repayment after a six month grace period. This grace period begins upon graduating, withdrawing from school, or dropping below half-time.
The Free Application for Federal Student Aid (FAFSA) serves as your application for Direct Loans. If you would like us to include a loan in your award package, please review the PSCC Student Loan Information and Request Form. This tool is located in your MyPSCC portal under the Financial Aid Tab, Important Forms and Links section. It gives you guidance on how much loan money you can borrow. You should evaluate the amounts carefully, and keep in mind that any amount you borrow must be paid back with interest.
FOR PARENTS: Parents' Loan for Undergraduate Students (PLUS)
Federal PLUS loans are for parent borrowers to assist the dependent student with educational expenses. This loan is not based on financial need. Repayment of principal and interest begins within 60 days of disbursement. The annual loan limit is the cost of education minus any other financial assistance the student is receiving.
To apply for a Federal Direct PLUS Loan,