Federal Family Education Loan Program (FFELP)
CCBC participates in the Department of Education's Federal Family Education Loan Program (FFELP) which includes subsidized, unsubsidized, and parent loans. The Financial Aid Office (FAO) believes our students will find the FFELP Loan option quick and convenient.
Loan Awarding Process
The Financial Aid Office does not automatically process Federal Stafford loans for our students. If you are not eligible for the Federal Pell Grant, you are eligible to borrow a Federal Stafford loan. You should contact the Financial Aid Office of the campus you attend to request a student loan.
Loan Processing Sequence
1. Complete the Free Application for Federal Student Aid (FAFSA)
2. Submit verification documents
a. Certification page
b. Dependent or independent verfication worksheet
c. Signed copies of federal tax returns (both student and parent, if applicable)
3. Complete loan documents (available in Financial Aid Offices or from the web)
a. Federal Stafford Loan Request Form
b. Master Promissory Note (MPN)
4. Entrance Counseling (printable schedule)
5. Exit Counseling (when you graduate from CCBC, withdraw, or attend less than half-time).
Federal Stafford Loan Types
Federal Subsidized Loan
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Must demonstrate financial need
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Must be enrolled at least half-time (6 billable hours)
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Federal government pays all interest on subsidized loan as long as you are enrolled at least half-time, during your grace period, and during deferments
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Subsidized loans disbursed from July 1, 2009 through June 30, 2010 will have a fixed interest rate of 5.6%.
Federal Unsubsidized Loan
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No demonstrated financial need required
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Must be enrolled at least half-time (6 billable hours)
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Interest accumulates throughout the life of the loan
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Unsubsidized loans have a fixed interest rate of 6.8%.
Federal Parent Loan (PLUS)
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Available to parents of dependent students who enroll for 6 or more billable hours
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FAFSA must be completed
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Parent must complete PLUS certification and PLUS Master Promissory Note (MPN)
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Credit check will be performed
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PLUS loans have a fixed interest rate of 8.5%.
Loan Limits
Annual (Fall, Spring, and Summer)
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Subsidized
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Unsubsidized
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Total*
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First-Year Dependent (0-27 credit hours earned)
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$3,500
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$2,000
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$5,500
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Second-Year Dependent (28 or more credit hours earned
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$4,500
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$2,000
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$6,500
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First-Year Independent (0-27 credit hours earned)
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$3,500
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$6,000
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$9,500
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Second-Year Independent (28 or more credit hours earned)
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$4,500
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$6000
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$10,500
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*Please note: Based on your FAFSA data, cost of attendance, expected family contribution (EFC), and other financial aid/resources, your loan may be certified for less than you requested. By Federal regulations, the Financial Aid Office must award your maximum subsidized eligibility first.
Lifetime (up until Bachelor's degree)
Dependent $31,000 (no more than $23,000 may be subsidized)
Independent $57,500 (no more than $23,000 may be subsidized)
Student Loan Counseling
Students who have never received a loan at CCBC must attend a federally-required group entrance counseling session prior to your loan being processed. The entrance counseling is presented in numerous group sessions on all three campuses. A list of group sessions with dates, times and locations is included with the loan packet or can be viewed here.
Students are also required to complete exit counseling before graduating or otherwise leaving school. Students can complete the exit counseling online by going to EDTEST.
Loan Disbursement Information
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First-time borrowers with CCBC receive their first loan disbursement 30 days after the start of classes
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Continuing/returning borrowers with CCBC 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 home address on file with CCBC within 10-14 business days from the date of disbursement.
Please note: Loan proceeds are disbursed in two equal payments for fall/spring loans or semester-only loans.
Loan Lender Information
The Community College of Baltimore County has a recommended lender list that has been in existence for the last seven (7) years. These lenders were carefully selected due to their processing procedures, online capability, quality of customer service to our students and staff, and quick resolution to our student loan issues.
The list of recommended lenders are:
If you have borrowed previous federal Stafford loans through FFELP, you are encouraged to borrow again with the same lender. You may choose any lender who participates in FFELP.
To get information on the status of a loan, disbursement updates, and repayment options, visit Edfund's web site.
Student Loan Ombudsman - The Ombudsman receives, reviews, and attempts to resolve, informally, complaints from loan borrowers, compiles and analyzes data on complaints and makes appropriate recommendations.
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Internet: http://fsahelp.ed.gov or http://ombudsman.ed.gov
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Toll-free telephone: (877) 557-2575
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Fax number: (202) 275-0579
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Mail:
U. S. Department of Education
FSA Ombudsman
830 First Street, NE
Fourth Floor
Washington, DC 20202-5144
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