Federal Student LoansFederal Stafford Loans are available to College of Coastal Georgia students for educational purposes. Parents may also borrow on their child's behalf with a Parent PLUS Loan.
All students must submit the Free Application for Federal Student Aid (FAFSA) and submit any requested documentation before applying for a student loan. The College of Coastal Georgia participates in the Federal Direct Loan Program for federal Stafford Loans. Under this program, your lender is the US Department of Education. College of Coastal Georgia is not a lender. You may apply for a loan by selecting the link at the bottom of the page. Please read the important information below before you apply for a loan.
Click Here for Loan Disbursement information.
Important Borrower Tips
- Always seek other alternatives before borrowing.Options include a part-time job, scholarships, work-study programs, and state and federal government grants.
- Manage your money – Make sure that you can afford your monthly payments once you have completed your studies. Also, remember that the minimum monthly payment is $50. The more you borrow, the higher your monthly payment will be.
- Keep records of important documents. This includes your promissory note, disclosure statements, rights and responsibilities, determent requests, repayment schedule, or any other correspondence with your school or lender(s).
- Keep in contact. Notify your lender if your name, address, or phone number changes. Also notify your lender if you transfer to another school.
- Avoid default by not overextending yourself and by making timely payments. If you run into trouble, contact the Financial Aid Office or your lender for deferment options. You have many legal options available to you if you cannot make your payments.
CCGA Student Loan Policy:
- Students must be enrolled in at least 6 credit hours. If at any time your enrollment drops below half-time status, all future disbursements will automatically be canceled and you may be required to repay any loan funds you were not eligible to receive.
- Students who are borrowing for the first time will not receive their loan funds until 30 days after the first day of class.
- Students must maintain Satisfactory Academic Progress (SAP) as listed in the college catalog. For example, students must have a cumulative 2.0 grade point average and must complete at least 67% of all classes attempted.
- All students, regardless of income, must complete the FAFSA before a loan application can be processed.
- The Financial Aid Office may refuse to certify a Federal Student Loan or reduce the loan amount requested. This determination is made on a case-by-case basis.
- All students must complete Loan Exit Counseling any time their enrollment drops below 6 credit hours.
- Loans for only one semester will arrive in two disbursements - the first disbursement will be at the beginning of the semester once a student’s attendance has been verified and the second disbursement will be after midterm. For first time loan borrowers, the first disbursement will be 30 days after the first day of class and the second disbursement after midterm. For students that take out loans after the semester has started their first disbursement will be the week after the loan has been processed/accepted and their second disbursement will be after midterm.
How it works:The Federal Direct Loan Program provides low-interest, long-term loans to students enrolled in eligible programs. The Department of Education determines if your loan will be subsidized or unsubsidized. To be eligible for Stafford Loans, students must be enrolled at least half-time (6 credit hours). Subsidized loans are interest free while you are enrolled at least half-time. Unsubsidized loans charge interest at all times.
Helpful tips for completing the loan application:
- The amount you are eligible to borrow is based on your classification. DO NOT borrow the maximum amount if you don't need to. Always remember these are funds that have to be repaid.
- The loan period that you select determines how your loan will be spread. (Note that all loans must have two disbursements) For example, if you want to borrow for Fall and Spring, your loan period will be from August (beginning of the Fall Semester) until April (end of Spring Semester).
- Make sure you have read all of the above information.
PARENT PLUS LOANS
College of Coastal Georgia has developed the processing of a Parent PLUS application into two separate electronic processes in order that the parent's identity can be verified before the application is processed. The Federal Government has defined a parent as either the student's biological parent or their adoptive parent. (This is regardless of whether he or she is the "custodial" parent or if they provided financial information on the FAFSA. A stepparent is eligible to borrow under the PLUS program; however, note that a leagal guardian is NOT considered a parent for Federal Student Aid purposes.) The following are the steps that must be taken in order to process a Parent PLUS application for College of Coastal Georgia.
- Complete a Free Application for Federal Student Aid (FAFSA)
- Parent logs into www.studentloans.gov (Parent will log in with their FSA ID and Password) to "Request a Direct PLUS Loan" (Click "Request a Direct PLUS Loan")
- Parent scrolls to the bottom of the next screen and clicks "Parent PLUS"
- Parent completes the form and submits
- Student clicks on the CCGA Electronic Parent PLUS application to complete their section of the form. Then submits for the parent to then get an email to complete their section of the form. (Note the Parent PLUS electronic application is also located with the other Electronic Forms at my.ccga)
Click here to see a chart of borrowing limits.