Financial Aid Handbook and Student Aid Guide - Federal Direct Loans

Page 6 of 8: Federal Direct Loans

Federal Direct Loans

Federal Direct Loans are either Stafford Subsidized or Unsubsidized.

Subsidized Loan

This loan is based on financial need for which the federal government pays the interest that accrues while the borrower is in school, grace or deferment status.  New borrowers are subject to limitations on the amount of subsidized loans received.  Please be sure to read about the limit on the amount of subsidized loans. It is important for all students.

Subsidized loan

Note: You are granted eligibility up to 150% of the maximum credits required for the degree being sought.

Unsubsidized Loan

This is a loan where the borrower is fully responsible for the paying of the interest regardless of loan status. Interest accumulates from the date of disbursement. UCC does not offer this loan at the time of the initial offer. Students have to apply for it. The Loan Request & Revision Form located with the Financial Aid Forms and Publication.

Student Loan Facts

Students must be enrolled at least half-time (6cr) in an eligible program to qualify for student loans.

First time federal student loan borrowers must complete the following requirements: Entrance Counseling and Master Promissory Note (MPN). There is a 30 day delay for first time federal student loan borrowers from the first term you begin in that specific aid year. 

In compliance with federal regulations, loans will be prorated for students attending less than 3 terms. 

To learn about the rights and responsibilities for student loan borrowers click here.

Important Disbursement Information
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