Loan Programs
Loans are financial aid components available to U.S. citizens that require repayment—with interest.
Federal Direct Unsubsidized Student Loan Program
These are fixed-rate, non-need-based loans that are available to all students who have completed the Free Application for Federal Student Aid (FAFSA). The Direct Unsubsidized Loan begins accruing interest from the time the loan is disbursed. The FAFSA is located on the U.S. Department of Education’s website at studentaid.gov. CCS’s Title IV code is 006771. Repayment of this loan begins six months after graduation, withdraw from school or drop below halftime enrollment status (fewer than six credits).
Private/Alternative Loan Program
Private/Alternative Loans are a nonfederal loan made by a lender such as a bank, credit union or national lender; usually with a co-signer. It is intended to supplement a student’s financial aid package. Search and find loans that fit your needs by visiting https://www.elmselect.com/v4/ for more information.
Find additional details about each Loan types in the chart below
Graduate Student Loan Information Chart
| Â | FEDERAL UNSUBSIDIZED DIRECT LOAN | PRIVATE/ALTERNATIVE LOAN |
| Brief Description | A federal student loan, made through the William D. Ford Federal Direct Loan Program that eligible students borrow directly from the U.S. Department of Education at participating schools. | A nonfederal loan made by a lender such as a bank, credit union or national lender; usually with a co-signer. It is intended to supplement a student’s financial aid package. |
| Lender | Department of Ed | Private Lender |
| Annual Amount |
$20,500 Loan limits information is available at studentaid.gov |
Maximum amount = cost of education minus other financial aid. – See financial aid notification letter. |
| Interest Rate | current interest rates are available at studentaid.gov | Varies based on lender and credit score |
| Fees | The origination fee is deducted before disbursement. Current loan fees are available at studentaid.gov | Varies per lender |
| Disbursement | Total award will be split equally between the Fall and Winter semesters | Total award will be split equally between the Fall and Winter semesters unless specified otherwise on the loan application |
| Repayment | With in-School deferment, repayment begins 6 months after the student leaves school or drops below 6 credits enrolled. | Varies per lender |
| Get more information | Visit Federal Student Aid | See private/alternative loan info |
| Get application | Completed when applying for FAFSA | See private/alternative loan info |