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Laney College

Federal Loans

Federal Loans


How do I apply for federal loans?
 

2018-2019 Federal Direct Student Loan Program

(For Fall 2018 / Spring 2019 Semesters)

APPLICATION START DATE:  August 20, 2018

APPLICATION DEADLINE for Fall 2018:  Dec 07, 2018

APPLICATION DEADLINE for Spring 2019:  May 03, 2018

APPLICATION DEADLINE for Summer 2019:  July 05, 2018

Download a copy of the 2018-2019 Federal Direct Student Loan (DOC) 

Federal Direct Student Loans are low–interest loans originated through the Department of Education for students to help pay for the cost of a student’s education after high school. Accepting a loan means accepting responsibility in a long-term financial obligation for repaying the monies borrowed including interest costs and fees. Before you request a loan, make sure you find out the true costs, interest rates, and how long it will take to repay the loan. GO to http://www.direct.ed.gov/ to get answers to questions regarding federal direct student loans.

Be a Smart Borrower! Peralta District Colleges recommend that students use all other possible resources first and borrow only when it is absolutely necessary. Students should consider their total educational indebtedness before borrowing at a community college.

Before you can apply for a loan you must complete the 3 steps below:

  1. Complete the Free Application for Federal Student Aid (FAFSA)
  2. Submit all required documents to your Home College’s Financial Aid Office before the deadline date. Your Home College is the college at which you intend to complete your program of study/educational goal. Your student file must be completed and awarded.
  3. Enroll in six (6) or more units related to your program of study/educational goal.

If you complete the steps above then you may go to your Home College’s Financial Aid Office and ask for a Student Loan Packet.  Follow the Federal Loan Step by Step Application Process outlined in the packet you receive.

Right to Cancel:  The Student or parent has a right to cancel all or a portion of the loan or loan disbursement and have the loan proceeds returned to the holder of that loan.  The procedures and time by which the student or parent must notify the institution that he or she wishes to cancel the loan are as follows: Notification of Borrowers (Students)

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Please note:

The Peralta Colleges strive to limit student loan defaults. For this reason, we may decline loan requests to higher risk students. Therefore, your loan request may be denied or reduced if you:

  •  Have an undeclared major or undecided educational goal.
  • Are not enrolled in a Title IV eligible program of study (16 or more units in length).
  • Are not making steady progress in a degree, certificate or degree/transfer program.
  • Are not currently meeting satisfactory academic progress standards.
  • Have already borrowed to a maximum appropriate for Peralta Community College programs (We suggest $16,000 –   including student loan debt from other colleges).
  • Appear to be or have been in default or delinquent on financial obligations.
  • Have an incomplete or missing Student Loan Request form.
  • Have a change in planned borrowing from previous year(s).