Once students complete FAFSA and submit all other paperwork requested by the Financial Aid Office, the Financial Aid Office will determine Stafford Loan eligibility.
Federal Perkins Loan
Eligibility:
Financial need, minimum half-time enrollment and availability of funds.
Amount:
Renewable:
Yearly. Based on need and availability of funds.
Deadline:
Given to earliest filers.
Funding:
Federal government
Interest:
5% federally subsidized
Repayment:
Deferred while enrolled at least half-time; begins 9 months after graduating, or dropping below half-time enrollment
Once students complete the FAFSA and submit all other paperwork requested by the Financial Aid Office, the Financial Aid Office will determine Perkins Loan eligibility. If eligible, the Financial Aid Office will contact the student.
Please complete the following two steps ONLY if you have been instructed to do so by the Financial Aid Office.
Notice: By law, you are free to choose any lender you prefer. However, please keep in mind that choosing a lender who is not on our Lender List may delay the processing and/or the receipt of funds. The lenders on our list have aligned themselves with our internal processes, enabling us to better serve our parents and students. We cannot guarantee that we have a working relationship, or the ability to communicate with certain lenders not on our list. Therefore, by choosing a lender not on our list, it is the borrower's responsibility to resolve any issues/problems that may arise directly with the lender.
Federal Stafford Loan
Eligibility:
Minimum half-time enrollment
Subsidized: financial need
Amount:
Subsidized Teaching Credential - $5,500
Graduates & Rosemead - $8,500
Unsubsidized Teaching Credential - $7,000
Graduates - $12,000
Rosemead - $12,000 - $12,500
Renewable:
Yearly. Must apply every year.
Deadline:
June 15th for the upcoming academic year is recommended for all items requested by the Financial Aid Office (including but not limited to the Stafford Application) to be submitted in order to be processed in time for the beginning of the school year. All loan requests must be received no later than the last day of the semester in which the funds are being requested in order to be processed.
Funding:
Lending Agencies
Interest:
6% for Undergraduate Subsidized Stafford loans with a first disbursement on or after July 1, 2008
6.8% for all other Stafford Loans: all Unsubsidized Loans and Graduate Subsidized Loans, as well as loans first disbursed between July 1, 2006 and June 30, 2008)
Interest on unsubsidized loans accrues from the start of the loan.
Once students complete FAFSA and submit all other paperwork requested by the Financial Aid Office, the Financial Aid Office will determine whether student receives subsidized or unsubsidized funding. The Financial Aid Office will contact the student regarding loan eligibility.
Recommended Lender Notice: By law, you are free to choose any lender you prefer. However, please keep in mind that choosing a lender who is not on our Lender List may delay the processing and/or the receipt of funds. The lenders on our list have aligned themselves with our internal processes, enabling us to better serve our parents and students. We cannot guarantee that we have a working relationship, or the ability to communicate with certain lenders not on our list. Therefore, by choosing a lender not on our list, it is the borrower's responsibility to resolve any issues/problems that may arise directly with the lender.
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