Loans

CCBC participates in the Department of Education's Federal Direct Loan Program which includes subsidized loans, unsubsidized loans for students, and parent (PLUS) loans.

Applying for a student loan

  1. Submit the Free Application for Federal Student Aid (FAFSA).
  2. Submit any requested financial aid documents. You can find these requirements in your CCBC SIMON account
  3. Complete the following requirements in this order:
    a. Federal Direct Loan Request Form
    b. Complete online entrance counseling. Online entrance counseling must be completed each academic year.
    c. Master Promissory Note (MPN).
  4. Participate in Exit Counseling when you graduate from CCBC, withdraw, or if you attend less than half-time 

Direct loan information

Subsidized Loan

  • Financial need required
  • Enrolled in a minimum of 6 credits/billable hours (half-time)
  • Federal government pays interests while you are in school during your grace period, and during deferments
  • If disbursed between 7/1/2014 through 6/30/2015, it will have a fixed interest rate of 4.66%
    • The origination fee from 7/1/2014 through 9/30/2014 will be 1.072%
    • The origination fee from 10/1/2014 through 6/30/2015 will be 1.073%

Unsubsidized Loan

  • Enrolled in a minimum of 6 billable hours (half-time)
  • Interest is calculated from first disbursement
  • If disbursed between 7/1/2014 through 6/30/2015, it will have a fixed interest rate of 4.66%
    • The origination fee from 7/1/2014 through 9/30/2014 will be 1.072% 
    • The origination fee from 10/1/2014 through 6/30/2015 will be 1.073%

Parent Loan (PLUS)

To apply for a Parent PLUS loan:
  1. The student must complete a FAFSA at www.fafsa.gov.
  2. The parent must complete the loan application with the Department of Education at http://www.studentloans.gov. Click “Sign In.” After logging in with your PIN, click on “Request a Direct PLUS Loan.” Click “Parent PLUS.” Read and complete the following screens.
  3. If APPROVED, the parent must complete a Master Promissory Note (MPN) at http://www.studentloans.gov. If DECLINED, the student may complete the box on the back of this form.
  4. Whether the PLUS loan is approved or declined, return this form to the CCBC Financial Aid Office.

If disbursed between 7/1/2014 through 6/30/2015, it will have a fixed interest rate of 7.21%
  • The origination fee from 7/1/2014 through 9/30/2014 will be 4.288% 
  • The origination fee from 10/1/2014 through 6/30/2015 will be 4.292%

Direct Loan Consolidation

  • Borrowers are able to combine subsidized and unsubsidized loans into one loan.
  • Visit Direct Loan Servicing Center for loan consolidation information.

Loan limits

Annual (Fall, Spring, and Summer)

Loan Type Subsidized Unsubsidized Total
First-Year Dependent
(0-27 credit hours earned)
$3,500 $2,000 $5,500
Second-Year Dependent
(28 or more credit hours earned)
$4,500 $2,000 $6,500
First-Year Independent
(0-27 credit hours earned)
$3,500 $6,000 $9,500
Second-Year Independent
(28 or more credit hours earned)
$4,500 $6,000 $10,500

Lifetime loan limits for undergraduates

  • Dependent $31,000 (no more than $23,000 may be subsidized)
  • Independent $57,500 (no more than $23,000 may be subsidized)

Loan disbursement information

  • Continuing/returning CCBC borrowers receive their first loan disbursement about three (3) weeks from the start of the semester.
  • Refunds are processed by the Bursar's office and are mailed to your mailing address on file with CCBC within 14 days from the date of disbursement.
  • Loan proceeds are disbursed in two equal payments for fall and spring.

Student Loan Ombudsman

The FSA Ombudsman receives, reviews, and attempts to resolve informally, complaints from loan borrowers. The Ombudsman also compiles and analyzes data on complaints and makes appropriate recommendations. Mail:
U. S. Department of Education
FSA Ombudsman
830 First Street, NE
Fourth Floor
Washington, DC 20202-5144