Student Loans

We always encourage students to apply for ALL federal and state grants, as well as any college, private or community scholarships before considering a student loan. Once you have exhausted these options, federal student loans may be an appropriate solution to help with your expenses.  Always remember YOU MUST REPAY STUDENT LOANS!

There are several types of federal student loans, such as annual and lifetime loan limits, fees and interest rates, and repayment terms and conditions.  You will find more information about Federal Loans on the Federal Student Aid website. 

Student loans are real loans, just like a car loan or a mortgage. You must repay a student loan after you leave college even if your financial circumstances become difficult or you do not complete your program.  If you have other means to pay for your college expenses, we recommend that you consider using these means before applying for a student loan.

Student Loans are part of a financial aid package.  In order to receive a student loan, your first step is to complete a FAFSA (Free Application for Federal Student Aid)

 What is a Direct Stafford Loan?
The U.S. Department of Education provides Direct Stafford Loans (Direct Loans) to eligible college students based on financial need and other specific eligibility requirements. There are two types of Direct Loans, subsidized and unsubsidized:

  • Subsidized - This is need based and eligibility is determined by the FAFSA.  The federal government pays the interest on this loan while you are enrolled at least half-time in 6 credit hours, during the six-month grace period after graduation or withdrawal, and during authorized periods of deferment. 
  • Unsubsidized – You are responsible for interest from the date your loan funds are disbursed until it is paid in full. You may choose to pay the interest charged on the loan or allow it to be capitalized (added to the loan principal) until you start repayment after you cease enrollment.  Whenever possible, we recommend that you pay the interest as it is assessed to minimize your total cost of borrowing. 

How do I apply for a Direct Loan at Jefferson?

If you have questions about student loans you can check our Financial Literacy Resource page, our Frequently Asked Questions or please contact the JCC Financial Services Office at 315 786-2350 and we can help you!