William D. Ford Federal Direct Loans

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 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". An academic year at City College is Summer, Fall and Spring.

Undergraduate Amounts

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

Dependent (Any combination of Subsidized and/or Unsubsidized)

Independent (Any combination of Subsidized and/or Unsubsidized)

Grade Levels: 
Freshman = 0-29.9 credits earned
Sophomore = 30-59.9 credits earned 
Junior/Senior = 60+ credits earned
 

Accepting, Reducing or Declining your offered William D. Ford Federal Direct Loan:

Login to CUNYfirst and follow the steps below:

1. Select "Student Center"
2. Select "Financial Aid"
3. Confirm the financial aid year that you wish to review at the top left section of the page. Students will only have the option to accept, reduce, or decline Direct Loan offers. All grant aid and scholarships are automatically packaged as offered and accepted and do not require action on this page.
4. Navigate to Awards on the left sidebar to open the dropdown menu, click on Accept/Decline.
5. Click on the Pencil icon to activate the Submit and Actions buttons.
6. Click on the dropdown option under the Award Decision Column.
   
   From the dropdown you can choose to accept, decline, or reset. If you want to reduce the Award you must first select the Accept option from the dropdown menu (this will activate the Reduce check box) and then click on the Reduce check box. The dollar amount will be adjustable in the accepted column and allow you to lower the amount.
    
   • The Reset option allows you to start over again before you finalize your submission.
   • The Decline option allows you to set the offer to $0.
   • The Actions button will allow you to accept all, decline all or reset all.
7. Click the Submit button to finalize your decision.

Note:

• If you are a first-time borrower at The City College of New York, you must complete the Entrance Counseling session and sign the Master Promissory Note (MPN) on www.studentaid.gov.
• At the time of submission of your loan request, ensure you are admitted to a degree granting program and are/or will be registered for a minimum of 6 credits/units.
• Additional information and guidance can be accessed by clicking on the following link: CUNYfirst Student Reference Guide.

To Apply for a William D. Ford Federal Direct Loan (If you were not offered one already)

Follow the instructions below:

• You must have completed the FAFSA application.
• As a first-time borrower at City College of New York, ensure you completed the Entrance Counseling session and signed the Master Promissory Note (MPN) online on www.studentaid.gov
• At the time of submission of your loan request, ensure you are admitted to a degree granting program and are/or will be registered for a minimum of 6 credits/units.

Steps:

1. Login to CUNYfirst
2. Select "Student Center"
3. Select "Financial Aid"
4. On the left-hand side, Click "Direct Loan Processing Form"
5. Based on your academic level and dependency status, indicate the amount you wish to apply for.
6. Indicate the number of credits you are taking for the semester you wish to apply for. (Do not apply for the semester under 6 credits)

• Allow 4-6 weeks for processing
• Information on Federal Driect Loans is available on the CCNY Financial Aid webpage and on www.studentaid.gov

CCNY Towers residents should submit a photocopy of their Housing Lease Agreement: After they have submitted a loan application.

Federal Direct PLUS Loan

This is a credit based, unsubsidized loan for parents of dependent undergraduate students. The application must be printed from the "Forms & Resources" page. The completed application should be submitted to the Financial Aid Office.

• Maximum = The CUNY "Cost of Attendance" less all other student financial aid.
• Click to view Direct PLUS Loan Basics for Parents
• At the time of submission of your loan request, ensure you are admitted to a degree granting program and are/or will be registered for a minimum of 6 credits/units.

Graduate Amount

1.  Unsubsidized: $20,500 - Graduate students do not have to request an unsubsidized loan.  When their FAFSA is received and required documents (if any), are received they will automatically be packaged on CUNYfirst with an unsubsidized loan.  Graduate students will need to "Accept' or "Decline" their loan on CUNYfirst under Finances.

Steps:

1. Login to CUNYfirst
2. Select "Student Center"
3. Select "Financial Aid"
4. Select "Award"
5. Select "Accept/Decline Awards"

2.  Grad PLUS: This is a credit based, unsubsidized loan for Graduate and Doctoral students. The application must be printed from the "Forms & Resources" page. Students should submit the completed application to the Financial Aid Office.

Maximum = The CUNY estimated "Cost of Attendance" less all other financial aid.

• At the time you accept/decline your loan, ensure you are admitted to a degree granting program and are/or will be registered for a minimum of 6 credits/units.