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ANNOUNCEMENT: Most spring 2021 classes will once again be offered online/remotely. Learn more about the spring 2021 semester. |
Student loans provided by the U.S. Department of Education enable students to pay for a college education. Eligible students borrow directly from the U.S. Department of Education to attend participating schools.
Loans you may borrow at the Community College of Aurora include the following types Federal Direct Student Loans:
You must repay your Direct Loan(s) to the U.S. Department of Education when you graduate, drop below 6 credit hours, or leave school.
The Community College of Aurora strongly recommends that you borrow only what you need. If you must borrow money to pay for school, use up all of your federal student loan options before considering private loans, which can have higher interest rates and fewer flexible repayment options.
In general, for students to be eligible for federal student loans, they must:
Direct Subsidized Loans are available to undergraduate students with financial need.
Students are not responsible for paying the interest while attending school at least half-time, during their grace period, and during any period of loan deferment. The Department of Education has also established new Direct Loan Program regulations for first-time borrowers on or after July 1, 2013;
These borrowers are eligible to receive Direct Subsidized Loans for 150% of their current academic program length, and after they exceed 150%, borrowers will lose their eligibility for Direct Subsidized Loans.
Direct Unsubsidized Loans are not based on financial need. Borrowers are fully responsible for paying the interest regardless of the loans status.
If you choose not to pay the interest, your interest will accrue (accumulate) and be capitalized. That is, your interest will be added to the principal amount of your loan during these times:
Parents of dependent undergraduate students can borrow federal loans to help pay education expenses. The maximum amount that a parent may borrow is determined by the total estimated Cost of Attendance minus all other sources of financial aid that the dependent student receives.
A credit check will be performed during the application process. If a parent has poor or unfavorable credit, they may still receive a Direct PLUS Loan one of the following ways:
If a parent borrower is unable to secure a PLUS loan, the student may be eligible for additional unsubsidized loans to help pay for their education. The dependent student should contact the CCA Financial Aid Office for more information.
Alternative Loans are non-federal educational loans, which students obtain through a private lending institution such as a bank or credit union. Alternative loans typically have higher interest rates, more feeds, and less flexible repayment options than federal loans. The CCA Financial Aid Office strongly recommends that students borrow the federal loans for which they are eligible before borrowing any private alternative loans.
Student Type |
Subsidized |
Unsubsidized |
Total Yearly |
Dependent Freshman |
$3,500 |
$2,000 |
$5,500** |
Dependent Sophomore* |
$4,500 |
$2,000 |
$6,500** |
Independent Freshman |
$3,500 |
$6,000 |
$9,500** |
Independent Sophomore* |
$4,500 |
$6,000 |
$10,500** |
*Students are not considered sophomores until after they have earned a minimum of 30 credit hours.
**Loans will be credited to your CCA balance in 2 disbursements. If you are a first-time borrower of Direct Loans, your first disbursement will be released after a mandatory 30-day waiting period. The 30-day waiting period begins on the first day of the enrollment period.
The total amount that an undergraduate student may borrow for their academic career (150% of the program length) is called the aggregate limit.
Once the aggregate limit has been reached, students are no longer eligible to borrow Federal Stafford Loans. Per federal regulations, a student who exceeds the aggregate loan limit is ineligible to receive federal financial aid until the overage is resolved.
Dependent Student |
Independent Student |
$31,000 total; Up to $23,000 may be subsidized. |
$57,500 total; up to $23,000 may be subsidized. |
Loan Type |
Loans First Disbursed On or after July 1, 2018 and Before July 1, 2019 |
Loans First Disbursed On or after July 1, 2019 and Before July 1, 2020 |
Subsidized Loans |
5.05% |
4.53% |
Unsubsidized Loans |
5.05% |
4.53% |
Plus Loans |
7.6% |
7.08% |
Loan Type |
First Disbursement Date |
Loan Fee |
Direct Subsidized Loans and Unsubsidized Loans |
On or after 10/1/19 and before 10/1/20 On or after 10/1/18 and before 10/1/19 |
1.059% 1.062% |
Direct PLUS Loans |
On or after 10/1/19 and before 10/1/20 On or after 10/1/18 and before 10/1/19 |
4.236% 4.248% |
If you would like to adjust the accepted loan amount, you may complete Loan Adjustment Form to request the change.
If you want to apply for a one-term (single semester) loan, you must be:
The loan adjustment form and other important financial aid forms can be found on our Financial Aid Forms page.
Loan Application Priority Deadlines:
When you graduate, leave school or drop below half-time enrollment, you will enter a Grace Period for six months. The Grace Period will give you time to get financially settled and to select your repayment plan.
Not all federal student loans have a grace period and for most loans, interest will accrue during your grace period.
If you are having trouble making payments, there are several options that you can choose to keep your loans in good standing: