There are three primary forms of loans available for CCSJ students
- Federal Subsidized Loan – This is a loan for
which you must qualify based on financial need. The amount for which
you qualify is based on your enrollment status and on your level of
need.
- Federal Unsubsidized Loan – This loan is not
based on financial need. However, the amount that you may borrow is
limited by your enrollment status and cost of attendance.
Your CCSJ estimated award letter will list the maximum federal subsidized
and unsubsidized loan amounts for which you qualify based on the information
available to the CCSJ Office of Financial Aid at the time the award letter
was created. Though federal subsidized and unsubsidized loan money may
be listed on your award letter, there is no requirement that you take
out these loans. Also, you do not need to apply for the entire loan amount;
you may apply only for the portion of the loan that you need.
>>Apply
for a Stafford Loan
- PLUS* (Parental Loan for Undergraduate Students) LOAN – PLUS are federal loans available to parents of undergraduate
students. The loan limit for PLUS is based on the student’s cost
of attendance minus other forms of financial aid received. The parent
must pass a credit check to qualify for a PLUS loan. Repayment of PLUS loans can be differed until the participating student ceases to attend college at least half time.
>> Apply
for a PLUS Loan
*PLUS loans are not listed on CCSJ Estimated Financial
Aid award letters. Please contact the CCSJ Office of Financial Aid to
find out more about applying for a PLUS loan.
Alternative Loan
Alternative loans, also known as private loans are those defined as loans that come from a bank, credit union, or other nongovernmental source. These loans are not regulated by the federal government and have adjustable interest rates. The terms of the loans will vary from lender to lender, and the interest rate may be significantly higher than that of Federal Direct Loans. Calumet College of St. Joseph does not promote specific lenders. In fact, we want to ensure that all students have exhausted all other federal loan options before suggesting any alternative loan. We implore you to thoroughly research all options before making your decision.
The following web sites may provide you with useful information in researching lenders offering private educational loans.
LOAN LIMITS FOR 2009-2010
The federal government limits the amount you can borrow based on your
enrollment status. Below are the annual loan limits for the 2009-2010
academic year. All students requesting a student loan for the first time
are required to complete Entrance
Counseling. Before leaving CCSJ, students who have borrowed Stafford
loans are required to complete Exit Counseling. These counseling sessions will provide you detailed
information about the student loan process.
| Dependent Undergraduates |
Subsidized |
Unsubsidized |
| First Year |
$3,500 |
$2,000 |
| Second Year |
$4,500 |
$2,000 |
| Third Year & Beyond |
$5,500 |
$2,000 |
| Independent Undergraduates |
Subsidized |
Unsubsidized |
| First Year |
$3,500 |
$6,000 |
| Second Year |
$4,500 |
$6,000 |
| Third Year & Beyond |
$5,500 |
$7,000 |
| Graduate & Professional
Students |
Subsidized |
Unsubsidized |
| All Years of Study |
$8,500 |
$12,000 |
Find out about loan repayment amounts by using a Loan
Calculators and other Financial Aid Information |
