Financial Aid
Solano Community College

SCC Home » Student Services » Financial Aid » Direct Loans

Direct Loans

U.S. Department of Education Direct Loan Program

Solano Community College participates in the U.S. Department of Education Federal Direct Loan Program:
  • Direct Subsidized Loans - are need-based loans for students, as determined by federal regulations. For Direct Student Loans with disbursements made on or after July 1, 2012 and before July 1, 2014 interest will immediately begin to accrue as soon as the student is no longer enrolled in at least half-time status (6 or more units). The federal government will not pay the interest during the six month grace period. Beginning July 1, 2012 the interest will be the responsibility of the student.
    New federal regulations were implemented for first time borrowers effective July 1, 2013. This new regulation requires subsidized loan amounts to be prorated for all first time borrowers. (Students who do not currently owe ANY principal, interest or balance on any subsidized loans) The annual maximum loan amount an undergraduate student may receive must be prorated when the borrower is:
    • enrolled in a program that is shorter than a full academic year; or
    • enrolled in a program that is one academic year or more in length, but is in a remaining period of study that is shorter than a full academic year.
  • Direct Unsubsidized Loans - are non-need based loans for students as determined by federal regulations. Because this loan is not subsidized by the government, you are responsible for all interest which accrues during in-school, grace, and deferment periods.
  • Private/Alternative Loans - are NOT CERTIFIED by Solano Community College.
  • 2014-2015 Direct Loan application deadlines:
    • Fall 2014 - Friday November 14, 2014 is the last day to submit a loan application for fall 2014 semester.
    • Spring 2015 - Friday April 17, 2015 is the last day to submit a loan application for spring 2015 semester.
  • Please read this information before you apply for a loan!



Direct Loan FAQ

Please read Recommended Resources below:

For an overview of Direct Loan information through the Department of Education's website, and to find out about interest rates, how to apply for a loan, repayment plans, deferments, forbearance, consequences of default, and much more, click on the link below:
http://www2.ed.gov/offices/OSFAP/DirectLoan/student.html

To learn how much your monthly payments will be, go to:
http://www.direct.ed.gov/calc.html

To manage repayment of your loans, go to:
https://www.myedaccount.com/

Direct Loan Repayment Plans:
www2.ed.gov/offices/OSFAP/DirectLoan/RepayCalc/dlindex2.html

Direct Loan Deferment and Forbearance:
www2.ed.gov/offices/OSFAP/DirectLoan/postpone.html

Default Management Awareness:
ecmc.org/topic/manageDefault.html

Financial Aid Literacy "FAB GAB":
www.ecmc.org/fab/showPage.action?id=1174

Promissory Notes:
www.studentloans.gov

Loan Entrance Counseling:
www.studentloans.gov

Loan Exit Counseling:
www.studentloans.gov

National Student Loan Data System (NSLDS):
www.nslds.ed.gov/nslds_SA/