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Cerritos Community College participates in the Federal Family Educational Loan Program (FFELP).
Federal Stafford loans are fixed-rate loans made to undergraduate students who are attending colleges at least half time (6 units).
|
Subsidized Stafford Loan |
Unsubsidized Stafford Loan |
|
|
Cerritos Community College does not participate in PLUS, Alternative or Private Loans.
Although these loans are made through lending institutions such as a bank, you MUST apply for financial aid first.
Once a student receives a financial aid award letter, the student may apply for a student loan.
| Annual Limits for Dependent Students |
Freshmen (Less than 30 units completed according to Cerritos College transcripts) |
Sophomore (More than 30 units completed according to Cerritos College transcripts) |
| Subsidized Stafford Loan | $3,500 | $4,500 |
| Unsubsidized Stafford Loan | $2,000 | $2,000 |
|
Annual Limits for Independent Students |
Freshmen (Less than 30 units completed according to Cerritos College transcripts) |
Sophomore (More than 30 units completed according to Cerritos College transcripts) |
| Subsidized Stafford Loan | $3,500 | $4,500 |
| Unsubsidized Stafford Loan | $6,000 | $6,000 |
Loan amounts will be determined at the time the Financial Aid Office certifies a student's loan application.
Cerritos College has a $22,000 maximum total loan amount for the Federal Stafford Loan Program.
This loan amount is a total of all loans received at Cerritos College and/or other institutions.
|
Federal Lifetime Loan Limits |
|
| Undergraduate Dependent | $31,000 (up to $23,000 may be subsidized) |
| Undergraduate Independent | $57,500 (between subsidized and unsubsidized) |
| Graduate or Professional lifetime limit |
$138,500 (up to $65,000 may be subsidized) or ($224,000 for health professions) |
Once you exceed the Federal limits you will not be eligible for any Title IV funding (Grants). Please contact your financial aid loan representative for more information.
Interest rates have been fixed at 6.8 percent for Stafford loans whose first disbursement is on or after July 1, 2006.
Beginning July 1, 2008, the fixed rate on subsidized Stafford loans to undergraduates will be reduced in annual increments according to the following schedule:
- 6 percent for loans first disbursed July 1, 2008, through June 30, 2009.
- 5.6 percent for loans first disbursed July 1, 2009, through June 30, 2010.
- 4.5 percent for loans first disbursed July 1, 2010, through June 30, 2011.
- 3.4 percent for loans first disbursed July 1, 2011, through June 30, 2012.