Subsidized and Unsubsidized Loans

• Subsidized Loans-aren't accruing interest while you are in school. This makes the loan less expensive than an Unsubsidized Loan

• Loan limits are determined by your grade in school, if you are a dependent or independent student,

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EFC continued

The EFC number represents the amount that you could potentially contribute based on your FAFSA information. If your EFC is 0 you qualify for the maximum pell grant. If your FAFSA is over 5711, you may only qualify for loans.

When should I defer my loan

Deferment does not happen automatically in most cases. For example after you leave CCC and enroll in another college, you will need to request a loan deferment from your lender or from your other school.

Another time that you may want to defer your student loan is if you are between jobs and having trouble making your loan payments.

Be aware that you might still be responsible for paying the interest that accrues during the deferment period.

Default Loan Info

If your loan continues to be delinquent, the loan may go into default. The point when a loan is considered to be in default varies depending on the type of loan you received.

For a loan made under the William D. Ford Federal Direct Loan Program or the Federal Family Education Loan Program, you’re considered to be in default if you don’t make your scheduled student loan payments for at least 270 days.

Pick up the phone

If You Are Delinquent or In Default, Your Loan Servicer Can Help

If you're having trouble making payments or are concerned about the status of your federal student loan(s), you have options available to you.

Contact your loan servicer to discuss how to get back on track with payments. There are several affordable repayment options that you may be able to take advantage of to continue making loan payments even when times are tough.

Loan options

You should know that there are other options if you are having issued paying your student loan. You may want to talk to your lender about other payment plans which are income driven.

income-driven repayment plan sets your monthly student loan payment at an amount that is intended to be affordable based on your income and family size. We offer four income-driven repayment plans:

Revised Pay As You Earn Repayment Plan (REPAYE Plan)

Pay As You Earn Repayment Plan (PAYE Plan)

Income-Based Repayment Plan (IBR Plan)

Income-Contingent Repayment Plan (ICR Plan)

What to do if you default

If you defaulted on any of your federal student loans, contact the organization that notified you of the default as soon as possible so you can explain your situation fully and discuss your options. If you make repayment arrangements soon enough after your loan has gone into default, you may be able to resolve the default quickly. Learn more about getting out of default.