Student Loans

Learn about Student Loans before Applying

Student loans can be a valuable tool to help you realize your educational and career dreams. Loans should, however, be the last option you consider. Before accepting a loan, you should fully understand your options and responsibilities when borrowing and repaying student loans.

Federal Direct Loans are one type of financial aid that is available to help pay for the cost of your higher education.

Loan Requirements

In order to be eligible for Federal Direct student loans, you must meet specific requirements.

  • Complete the Free Application for Federal Student Aid (FAFSA)
  • Be enrolled in an eligible degree or certificate program
  • Be enrolled at least half-time (6 credits)
  • Maintain Satisfactory Academic Progress standards, including:
    • A 2.0 GPA
    • 67 percent completion rate
    • Graduate within 150 percent of your declared degree or certificate program's published length
    • Complete at least one attempted credit per semester
  • Be a U.S. citizen, national, permanent resident or eligible non-citizen
  • Be free from default on any federal student loans
  • Be free from any obligation to repay a federal or state grant
  • Male students: satisfy the selective service requirement
  • Meet any requirement(s) specified by the Financial Aid office

Types of Loans

Subsidized Loan Terms and Conditions - Undergraduate

  1. Federal Direct Subsidized Loans: Undergraduate Level: This is a need-based loan. The federal government pays the interest (4.53 percent) on this type of loan while you are attending school at least half-time, during your six month grace period and during any period of loan deferment. New borrowers who borrow Federal Direct Subsidized Loans on or after July 1, 2013, can only receive subsidized loan funds for up to 150% of the published length of their degree/certificate program. For example, if you are working toward a 60-credit associate degree, you may be eligible to receive subsidized loan funds for up to three years.

Current interest rate: 

(Effective July 1, 2019)

4.53% fixed

Net fee per disbursement:

1.059% (for loans disbursed on or after October 1, 2019, and before October 1, 2020)
1.062% (for loans disbursed on or after October 1, 2018, and before October 1, 2019)

Required Documents:

Master Promissory Note and Entrance Counseling

Unsubsidized Loan Terms and Conditions - Undergraduate

  1. Federal Direct Unsubsidized Loans: Undergraduate Level: This is not a need-based loan. There is a 4.53 percent interest on this type of loan accrues and capitalizes quarterly while you are in school, during your six month grace period, and during any period of loan deferment. Interest payments are not required and may be deferred until repayment begins (six months after you are no longer attending school at least half-time) but doing so will cause the interest to capitalize on the principal balance, thus increasing the overall loan amount you must repay. All eligible students can borrow a Federal Direct Unsubsidized Loan regardless of income. For the 2019-2020 academic year, the interest rate is 4.53 percent for both subsidized and unsubsidized loan funds. The amount of loans you may borrow varies depending on your year in school, the length of your academic program, your dependency status, and other types of financial aid awarded to you.

Current interest rate: 

(Effective July 1, 2019)

4.53% fixed

Net fee per disbursement:

1.059% (for loans disbursed on or after October 1, 2019, and before October 1, 2020)
1.062% (for loans disbursed on or after October 1, 2018, and before October 1, 2019)

Required Documents:

Master Promissory Note and Entrance Counseling

**Loan limits are maximums and the Financial Aid office makes the final determination of actual amounts that can be borrowed. CCD does not automatically award the maximum unsubsidized loan eligibility to students in their initial award notices.

PLUS Loan Terms and Conditions - Undergraduate

  1. Parents Plus Loan: The interest charged on PLUS loans is 7.08 percent, borrowed by the parent whose information was provided on a student’s FAFSA.  Approval is subject to a credit check. If you are a dependent student whose parents are ineligible for a Federal Direct PLUS Loan due to adverse credit, you may be eligible to borrow additional unsubsidized loan funds. Repayment will begin after the loan is fully disbursed. In some cases, the borrower may request a deferment for 6 months if the student is enrolled at least half time. Read more information about Federal Direct Parent PLUS Loans. To find out if you could qualify for a Parent PLUS Loan please visit the following website, Read more information about Federal Direct Parent PLUS Loans.

Current interest rate: 

(Effective July 1, 2019)

7.08% fixed

Net fee per disbursement:

4.236% (for loans disbursed on or after October 1, 2019, and before October 1, 2020)
4.248% (for loans disbursed on or after October 1, 2018, and before October 1, 2019)

Required Documents:

Direct PLUS Loan Master Promissory Note, Direct PLUS Loan Application under studentaid.gov and a Parent PLUS Loan Application with the Financial Aid Office

Loan Amount Limits

Annual Federal Loan Limits*
TYPE OF STUDENT DEPENDENT STUDENTS INDEPENDENT STUDENTS
FRESHMAN (0-29 credits) $5,500 (maximum of $3,500 subsidized) $9,500 (maximum $3,500 subsidized)
SOPHOMORE (30-60 credits) $6,500 (maximum of $4,500 subsidized) $10,500 (maximum of $4,500 subsidized)

*You are not guaranteed to be eligible to borrow the full limit of student loans. If you need additional funding, contact the Financial Aid office.

Direct Subsidized and Unsubsidized Lifetime Loan Limits

Dependent Undergraduate Student

Federal Direct Loan Limit

$31,000 – No more than $23,000 of this amount may be in subsidized loans.

Independent Undergraduate Student

Federal Direct Loan Limit

$57,500 – No more than $23,000 of this amount may be in subsidized loans.

Loan Disbursements

CCD loans are split evenly into two disbursements, generally split between two semesters. We typically do not approve requests to receive a full year's award during a single semester.

Once accepted via your CCDConnect account, CCD will submit your loan to the National Student Loan Data System (NSLDS). Your loan will be accessible by authorized guaranty agencies, lenders, and institutions determined to be authorized users of the data system. 

Requirement to Repay Loans

Once you graduate, drop below half-time or leave school, your federal student loan(s) automatically go into repayment status. In most of the cases, you have a six month grace period before you are required to start making payments. Repayment for a PLUS Loan will begin once the loan is fully disbursed. If you have not made any payments for at least 270 days, your loans will go into a Default Status. Defaulting on your student loan(s) can have several serious consequences including:
 

  • The national credit bureaus are notified, this will negatively impact your credit score.
  • You are responsible to pay the entire unpaid balance of your loan and any interest you owe immediately.
  • You no longer qualify for deferment or forbearance and you could lose your eligibility to choose a repayment plan.
  • You may not be able to purchase or sell assets, such as a house.
  • Your loan holder can take you to court. You may be liable for any court costs, collection fees, attorney’s fees, and other costs associated with the collection process.
  • In some cases, your school may refuse to release a copy of your academic transcript until your defaulted student loan is satisfied.
  • The Internal Revenue Service (IRS) can withhold your tax refund. 
  • Your wages may be garnished. In this case, your employer may be required to withhold a portion of your pay and send it to your loan holder to repay your defaulted loan.
  • You will be ineligible to receive federal or state aid if you return to college until your loans are out of default status. Please keep in mind that the financial aid office may require valid documentation from your loan servicer(s) stating your loans are no longer in default, to review your eligibility for financial aid.

 If you have filed for bankruptcy, your student loans may not be dischargeable in bankruptcy.

Repayment Chart

Repayment Options & Expected Monthly Payments

General Student Loan Questions

Federal Student Aid Information Center
1.800.4.FEDAID (33.3243)
(TTY 1.800.730.8913)
www.StudentAid.ed.gov

For repayment questions, contact your loan servicer. Loan servicer contact information is available by visiting the National Students Loan Data System at www.nslds.ed.gov. Once there, you may log in using your FSA username and password, then click on the “Financial Aid Review” button. The home page will show you an overview of your complete federal loan borrowing history.

We've teamed up with ECMC Solutions

ECMC Solutions is a non-profit organization that can help you manage and repay your student loans. They provide one-on-one student loan counseling, which can help you reduce your payments or postpone student loan payments when needed. Contact them at 1.844.ON.TRACK.

Hours
  • Mondays - Thursdays | 7:00 a.m. - 8:00 p.m. CT
  • Fridays | 7:00 a.m. - 4:30 p.m. CT
  • Saturdays | 8:30 a.m. - 12:30 p.m. CT

Exit Counseling Requirement

The Financial Aid Office at the Community College of Denver is required to post an exit counseling requirement for any student who has dropped below half-time enrollment, has graduated or isn’t currently enrolled in classes. Exit counseling provides important information to prepare you to repay your federal student loan(s).

If you are the recipient of a subsidized, unsubsidized or a PLUS loan under the Direct Loan Program or the FFEL Program, you must complete exit counseling each time you:

  • Drop below half-time enrollment (below 6 credit hours per semester)
  • Graduate
  • Leave school

You can find more information about completing the exit counseling by visiting: Complete Exit Counseling Here.

Financial Aid Code of Conduct

Community College of Denver Financial Aid Code of Conduct

Community College of Denver is committed to providing the best possible customer service to our students and their families. Keeping within the federal requirements, it is our goal to provide information and advice, determined solely by consideration of the best interests of our students and their parents or guardians.  To ensure students and their families continue receiving sound and impartial advice from the financial aid personnel, and to avoid the potential for, or appearance of, conflicts of interest regarding student loans, Community College of Denver shall abide by this Code of Conduct in its relationships with lenders, guarantors, and servicers of education loans.  It is the intention of Community College of Denver that this Code of Conduct complies with all the letter and spirit of the Higher Education Act, as amended by the Higher Education Opportunity Act of 2008. 

1. Community College of Denver as an institution or any individual officer, employee or agent of Community College of Denver shall not enter into any revenue-sharing arrangements with any lender

2. No officer or employee of Community College of Denver who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans. For purposes of this prohibition, the term "gift" means any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount.

3. An officer or employee of Community College of Denver who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.

4. Community College of Denver does not have a preferred lender list (PLL) for alternative loans and, therefore, will not use a preferred lender list (PLL) to:

  • Require a prospective borrower to use a lender on a PLL;
  • Deny or otherwise impede a borrower’s choice of lender;
  • Cause unnecessary certification delays for borrowers who use a lender that is not listed on a PLL.

5.Community College of Denver shall not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to students in exchange for the institution providing concessions or promises regarding providing the lender with:

  • a specified number of loans made, insured, or guaranteed under Title IV;
  • a specified loan volume of such loans; or
  • a preferred lender arrangement for such loans.

6. Community College of Denver shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.

7. Any employee who is employed in the financial aid office, or who otherwise has responsibilities with respect to education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.

Live like a student now so you don't have to when you graduate!  Before taking on any loan debt, CCD encourages you to borrow only what is absolutely necessary to cover educational expenses and to budget wisely. Think about the amount of the monthly loan payment that you can realistically pay each month once the loan goes into repayment. Planning before you borrow may save you from being burdened with excessive debt later. CCD offers many excellent resources to help our students with financial planning and budgeting.

View a sample repayment chart for student loans.

Steps 1 & 2: Complete Entrance Counseling & Master Promissory Note

  • Go to StudentLoans.gov.
  • Log in using your FSA ID.
  • Select "Complete Counseling."
  • Click on "Start Entrance Counseling."
  • Follow all steps through completion.
  • Once finished with Entrance Counseling, select "Complete a Master Promissory Note" from the home page.
  • Select “Complete Subsidized/Unsubsidized MPN” and follow all steps through completion.
  • We will automatically receive confirmation that you've completed Entrance Counseling and the MPN within one week after you have accepted your offered loan, are enrolled at least half-time a,nd complete these requirements.

Step 3: Accept Your Loan Offer

This step can only be completed after you have been offered a Federal Direct Loan.

  • Log into your account at CCDConnect.
  • Click on “Student Finance.”
  • Select “Financial Aid Awards.”
  • Select the appropriate aid year.
  • Click on “Accept Award Offer.”
  • Click “Submit.”
  • If you are borrowing less than the maximum amount offered to you, enter the total dollar amount desired for the “Federal Direct Subsidized Loan Offered” and/or the “Federal Direct Unsubsidized Loan Offered” (cannot exceed offered amount).  Keep in mind that any requested amount will be split in half, likely over two semesters.

Attention first-time borrowers: The government places a 30-day hold on the disbursement of your first loan.