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FEDERAL DIRECT LOANS

 

Columbia Gorge Community College participates in the Federal William D Ford Direct Loan Program and offers student loans through the federal government.  There are two programs in the Direct Loan Program, the Subsidized Loan and Unsubsidized Loan.  When you accept an offered Federal Direct Stafford loan at Columbia Gorge, you will borrow from the federal government and receive funds directly through CGCC.  

It is important that you carefully consider your need to borrow since these loans must be repaid.

Loan Information

Applying for Loans

Federal Direct Loans

Alternative Loans

Consolidation Loans

Exit Counseling

The Subsidized Loan

The Federal Direct Subsidized Loan is a need-based federal loan awarded to students who demonstrate financial need.  The US Department of Education pays the interest while you are in school at least half-time.

If eligible for the Direct Subsidized Loan, Columbia Gorge Community College will notify you via the award letter of the maximum amount you may borrow for the academic year that you are applying for.  The chart below summarizes annual loan limits for the Subsidized Loan Program.  See http://www.studentaid.ed.gov for further information regarding the Federal Direct Subsidized Loan.

The Unsubsidized Loan

The Federal Direct Unsubsidized Loan is a non-need based federal loan that cannot exceed the students Standard Expense Budget minus other financial aid. Interest begins to accrue from the time the loan is disbursed until it is paid in full.  Interest can be paid while enrolled (or during other periods of non-payment) or you may choose to allow interest to accrue.  Allowing interest to accrue will increase the total amount you repay.  The chart below summarizes annual loan limits for the Unsubsidized Loan Program.   For further information about the Federal Direct Unsubsidized Loan, see http://www.studentaid.ed.gov.

 

Maximum Annual Loan Limits at CGCC for Subsidized and Unsubsidized Loans:

 

Credit Hours at CGCC

Dependent Undergraduate

Independent Undergraduate

1st Year Student

0-45 credits in your current program

$5,500 - No more than $3,500 of this amount may be in subsidized loans

$9,500 – No more than $3,500 of this amount may be in subsidized loans.

2nd Year Student

46+ in your current program

$6,500 - No more than $4,500 of this amount may be in subsidized loans

$10,500 – No more than $4,500 of this amount may be in subsidized loans.

Note:  For periods less than a full academic year (Fall, Winter, Spring), or if other aid is received that is used to pay a portion of your cost of attendance, the amounts you can borrow may be less than those listed above.

 

New Borrowers:

By federal regulation, all first time borrowers must wait 30 days for their first Federal Direct Loan disbursement.  Your loan funds will be available as of the 31st day of the first term that you receive loans.  You can find disbursement dates under Dates and Deadlines from the financial aid home page.

Single Term Borrowers:

By federal regulation, single term borrowers must have their disbursement split in two equal parts.  The first disbursement is at the same time as the rest of their aid (except first time borrowers whose loans must be disbursed as stated above) and the second disbursement happening at the 50% point of the term. You can find disbursement dates under Dates and Deadlines from the financial aid home page.

 


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Columbia Gorge Community College, Financial Aid Office, 400 East Scenic Drive, The Dalles OR  97058 – P (541) 506-6021 – F (877) 368-6370

 

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