Federal Direct Student Loans are either "subsidized" or "unsubsidized". The federal government pays the interest on subsidized loans while a student is enrolled for six(6) or more credits. Eligibility for a subsidized loan is based on "financial need". Unsubsidized loans are available regardless of financial need. Interest is charged to the student or the parent, (see PLUS Loans) even while the student is in school. Students may borrow up to the applicable maximum for each "academic year".  The academic year at City College is Summer, Fall and Spring.

The academic year maximums for Subsidized and/or Unsubsidized student loans are:                                

Note: Not all students will qualify for the academic year maximum. Total loan amounts cannot exceed the predetermined CUNY "cost
         of attendance". (For "cost of attendance" examples go to #3 in: Frequently Asked Questions.) All other financial aid awards,          scholarships and reimbursements will be subtracted from the cost of attendance in order to determine a student's Direct Loan          eligibility.

1.  How to apply for a Direct Loan: 1)  file for Federal financial aid via the FAFSA application
                                                      2) file a New York State financial aid form via the TAP/APTS application
                                                      3) complete a City College Federal Direct Student Loan form
    For more information see Filing Procedures.                

2.  All first time borrowers at City College must also fulfill the "Direct Loan Entrance Counseling" requirement. A first-time City     College borrower must attend one of the regularly scheduled group sessions or complete the online counseling session.

   1) Group sessions are conducted a few times each month. A schedule of the group sessions is available at the Financial Aid office.       Students may call for a schedule. To receive a schedule by email contact the City College Financial Aid Office.

3.  Loan checks are issued by the Bursar. Deductions will be made automatically for unpaid tuition and fees. Loan checks will be mailed      to the student's address of record unless direct deposit arrangements have been made.

4.  PLUS Loans - A PLUS loan is unsubsidized, it accrues interest from the date of disbursement. (The current interest rate is 7.9%.)
        These loan are available to parents of dependent students and graduate students. PLUS loan borrowers must pass a credit check to
        qualify for each loan.

       A.  Parents of a dependent undergraduate student may apply for a Federal Direct Parent PLUS loan. It is suggested that dependent             students apply for a federal Direct student loan first.  If additional loan funds are needed a parent may then apply for the PLUS             loan. For more information go to: Federal Direct PLUS Loans

       B.  Graduate students must apply for a Subsidized and Unsubsidized loan before they will be considered for a "Grad PLUS" loan.                For more information go to: Federal Grad PLUS Loans

            The maximum PLUS loan amount is calculated by subtracting all financial aid, (including other loans) from the institution's
            predetermined "cost of attendance". See #3 under FAQ's.

** For 2007 -2008 federal financial aid a student is considered independent if he or she can answer "Yes" to any one of these questions:     (Students may be required to provide supportive documentation.)

1. Were you born before January 1, 1984?
   
2. At the beginning of the 2007-2008 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, Ph.D., Ed.D., graduate certificate, etc.)?
   
3. As of today are you married? (Answer "Yes" if seperated but not divorced.)
   
4. Do you have children who receive more than half of their support from you?
   
5. Do you have dependents (other than your children or spouse) who live with you and receive more than half of their support from you, now through June 30, 2008?
   
6. Are both or your parents deceased, or were you (until age 18) a ward/dependent of the court?
   
7. Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training?

  8.  Are you a veteran of the U.S. Armed Forces?

If you answer "No" to all of these questions you a dependent student for federal financial aid purposes.

Dependent students with unusual family circumstances may request to be declared independent. An "Independence Appeal" request form is available in the financial aid office. (Note: The federal government does not consider a student who is "self-supporting" to be an "unusual" circumstance.)

Updated 4/20/2007