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Loans

Federal, State & Alternative Educational Loan Infomation:

 
 
 

  to apply- federal direct Stafford loan (DL)




  

What are the conditions for continued eligibility?
 
·      Maintain Satisfactory Academic Progress

·         Maintain class attendance (faculty confirmation required).

·         Maintain six (6) credits per term (audited courses excluded).

  How much can I borrow? 

Dependent

Undergraduate Student (excluding students whose parents cannot borrow a PLUS Loan *)

Independent

Undergraduate Student

~ Combining Loan ~

(including dependent students whose parents were denied a PLUS Loan)

Freshman (1st Yr)

(0 - 23 “earned” CCM credits.  Including

CCM “accepted” Transfer credits).

$5,500 TOTAL

$3,500 (subsidized)

$2,000 (addl. unsubsidized-loans first disbursed on or after July 1, 2008)*

9,500 - Max of $3,500 can be in subsidized loan with an additional $6,000 Unsubsidized (first disbursed after 07/01/08), if qualify.

Sophomore (2nd Yr)

(24 - 48 “earned” CCM credits.

Including CCM “accepted” Transfer credits).

$6,500 TOTAL

$4,500 (subsidized) $2,000 (addl. unsubsidized-loans first disbursed on or after July 1, 2008)*

$10,500 - Max of $4,500 can be in subsidized loan with an additional $6,000 Unsubsidized (first disbursed after 07/01/08), if qualify.

Juniors, Seniors, etc.

(CCM approved program (Major) length.  Including CCM “accepted” Transfer credits.  Excluding - Repeated credits earned/change in major).

$7,500 TOTAL

$5,500 (subsidized) $2,000 (addl. unsubsidized-loans first disbursed on or after July 1, 2008)*

$12,500 - Max of $5,500 can be in subsidized loan with an additional $7,000 Unsubsidized (first disbursed after 07/01/08), if qualify.

* Dependent undergraduates whose parent(s) did not qualify for a PLUS Loan under this category, must submit proof of denial to the Office of Financial Aid in order to qualify for the additional federal unsubsidized stafford loan.

How and when do I have to repay my loan(s)?
 
Repaying your loans 
Deferment Options
 

How do i apply for an alternative/private student loan?(Subject to credit review by lender)

  • Alternative/Private Student Loans - Click here 
  • New Jersey State Private Student Loans - Click here
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    Contact Information:

    E-mail: finaid@ccm.edu