FFEL Stafford Loans are low interest rate loans available to students who are enrolled at least part-time at HCCS. They can be either subsidized or unsubsidized. With subsidized Stafford loans the federal government will pay the interest on the loan while the student is in school or in a qualifying deferment period after leaving school. Students are responsible for paying all interest that accrues on an unsubsidized Stafford loan, even during the in school, grace, deferment and forbearance periods. Borrowers can either make interest payments during the in-school period or have interest accrue and be capitalized (added to the principal loan balance) increasing the amount they must repay on the loans.

PLUS Loans are loans parents of undergraduate students can borrow. PLUS loans are in amounts equal to the cost of education minus any other financial aid. Your parent(s) will have a credit check conducted by the lender. These loans are the legal obligations of your parents.

APPLYING FOR A FFEL STAFFORD LOAN
To be considered for a FFEL Stafford Loan, you must:

1. Complete your financial aid file (complete the FAFSA) so your eligibility for federal financial aid can be determined.
2. Complete a Stafford Loan Request Form.
3. Complete Entrance Counseling at HCCS.
4. Complete, sign and return your Master Promissory Note to your lender. Your lender will mail this to you when your loan has been approved.

PROCESSING DEADLINES
To insure receipt of funds before the end of the loan period, the following deadlines will be observed:

For loans covering the Fall and Spring terms: October 1

For loans covering only the Fall term: October 1

For loans covering only the Spring term: March 1

No loan will be processed after these deadlines. Complete your financial aid file Early!!

ENTRANCE COUNSELING
All students who wish to borrow under the FFEL Stafford Loan Program at HCCS must complete Entrance Counseling before a student loan will be approved. Please select a date and time that is most convenient for your schedule and arrive on time.

EXIT COUNSELING
Students who graduate or drop to less than half-time status (less than six credit hours) are required to attend Exit Counseling. Exit Counseling is designed to give an overview of a student's rights and responsibilities as a borrower with an emphasis on repayment. Students who apply for graduation will be mailed information regarding Exit Counseling sessions during the semester in which they are graduating. Students who drop to less than half-time status should contact the financial aid to arrange Exit Counseling.

FEDERAL STUDENT LOAN ELIGIBILITY CRITERIA
FFEL Stafford Loan participants must meet the following criteria:

• Be enrolled in at least six (6) academic semester hours of an eligible program. Enrollment in remedial course work only does not satisfy eligibility criteria
• Be making Satisfactory Academic Progress as defined by the Financial Aid Office.
• Have a valid SAR or ISIR on file.
• Have a high school diploma, GED, or satisfy ability to benefit requirements
• Must verify that previously defaulted loans are currently in a status which would provide eligibility for additional loan funds (i.e. notification from a guarantee agency or the Department of Education)
• Not owe a repayment on a federal/state grant
• Attend an Entrance Interview at this college
Must first apply for Subsidized before an Unsubsidized Stafford Loan will be awarded

• Must attend an Exit Interview prior to leaving HCCS on at least a half-time basis:

GRADE LEVEL 2
(30 or more earned semester hours)
$4,375 Maximum amount

The Grade Level should be determined with the first loan for the academic year. It will not be adjusted to the next level within the same academic year and will be assessed in a manner consistent with HCCS policy. As progress is made the Grade Level 2, the maximum amount that may be borrowed is $4,375 at Grade Level 2. Loan must be certified for the entire academic year to be approved for the annual limit. In addition, loans will NOT be certified for Fall/Spring retroactively. Fall only or Spring only loan will be certified for only half of the annual limit. During the student's graduating semester, the loan limit must be prorated.

Student borrowers must satisfy Satisfactory Academic Progress (SAP) before each disbursement of the loan proceed is disbursed. Students must complete at least 75% of course work attempted each semester during the academic year and earn a minimum term GPA of 2.0. If these requirements are not met, subsequent loan check will be canceled.

• Stafford Loans are not awarded for "Summer Only" enrollment.
• Remedial courses are not calculated when determining grade levels.
• Transfer hours are calculated when determining grade levels.