Financial Aid

Loans

Stafford Loans

Stafford loans are a form of financial aid that must be repaid either after a student has graduated or when the student has stopped attending classes as at least a half-time student (6 credits). There are two kinds of Stafford Loans: subsidized and unsubsidized.

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Federal Subsidized Stafford Loans are:

Low-interest funds that must be repaid by the student.

Interest-free while you are enrolled at least half-time (6 credits) in a degree-seeking program (undergraduate or graduate).

Borrowed directly from the federal government.

To be used for education-related expenses such as tuition, fees, books, living costs, transportation, and child care.

Payments are deferred for six months after the student graduates, leaves school, or enrolls in fewer than 6 credits. The maximum repayment period is 10 years. Loan fees not to exceed 1.5 percent of the amount borrowed will be deducted from each semester's disbursement.

First time borrowers of Stafford Loans at Front Range Community College are subject to a 30 day hold of their first loan disbursement.

Federal Unsubsidized Stafford Loans:

Accrue interest while a student is enrolled in school (and during the repayment period).

Are borrowed directly from the federal government.

Can be used for education-related expenses such as tuition, fees, books, living costs, transportation, and child care.

Payments are deferred for six months after the student graduates, leaves school, or enrolls in fewer than 6 credits. The maximum repayment period is 10 years. Loan fees not to exceed 1.5 percent of the amount borrowed will be deducted from each semester's disbursement.

First time borrowers of Stafford Loans at Front Range Community College are subject to a 30 day hold of their first loan disbursement.

Stafford Loan Eligibility Requirements

To be eligible for a Stafford Loan, you must:

Complete a FAFSA, and all required documents must be submitted to FRCC.

Be enrolled in a financial-aid-eligible degree and/or certificate program and taking 6 or more credits.

Be in compliance with FRCC’s Satisfactory Academic Progress Policy.

First-time borrowers must complete the Direct Loan Entrance Counseling session and the Direct Loan Master Promissory Note.

Federal Parent PLUS Loan

The Federal PLUS loan can be borrowed by parents of dependent undergraduate students to help pay for the student's education. PLUS loans are typically less expensive than private student loans because PLUS loan borrowing terms are regulated by the U.S. Department of Education.

PLUS Loans:

Are offered one academic year at a time.

Applications must be processed through the Department of Education who will approve or deny the application based on a review of the parent borrower's credit history.

If a PLUS loan application is denied, the student usually becomes eligible to borrow up to $4,000 in additional unsubsidized Stafford loan funds. This additional Stafford loan cannot exceed the student's cost of attendance minus all other aid (including other loans). Unsubsidized Stafford loans accrue interest while the student is in school.

Parents: Apply for a Parent PLUS loan by completing an online Parent PLUS loan application.