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Baton Rouge Community College participates in the William D. Ford Federal Direct Loan Program. Student loans are issued directly from the federal government and must be repaid.

 

Baton Rouge Community College will NO longer include loans for students as a part of their aid package.

Federal Direct Subsidized Loan

A variable interest loan available to degree seeking students enrolled at least half-time, based on financial need. The interest rate changes every July 1st and is paid by the government while the students are attending school. Repayment of principal and interest begins 6 months after enrollment ceases to be at least half-time. The current interest rate on this loan is 3.86%.

 

Federal Direct Unsubsidized Loan

A variable interest loan available to degree seeking students enrolled at least half-time, not based on financial need. Eligibility for the subsidized loan must be determined before an unsubsidized loan can be considered. The interest rate changes every July 1st and will  be charged from the time the loan is disbursed until it is paid in full. The interest can be paid while the student is still in school. Repayment of principal and interest begins 6 months after enrollment ceases to be at least half-time. The current interest rate on this loan is 3.86%.

Federal regulations require that the College delay delivering the proceeds of educational loans to first-time borrowers until 30 days after the start of classes.  In addition, all first-time borrowers must receive loan counseling before loan funds can be disbursed. Students must complete a Master Promissory Note and Entrance Loan counseling.

 

Year

Dependent

Independent

First year (0 to 29 credits)

$5,500

No more than $3,500 of this amount may be in subsidized loans.

$9,500

No more than $3,500 of this amount may be in subsidized loans.

Second Year (30 or more credits)

$6,500

No more than $4,500 of this amount may be in subsidized loans.

$10,500

No more than $4,500 of this amount may be in subsidized loans.

Lifetime Limits

$31,000

$57,500

 

  • Borrowing the maximum amount for Fall and Spring leave zero eligibility for Summer at the same grade level.
  • The amounts given above are the maximum yearly amounts you can borrow in both subsidized and unsubsidized loans, singly or in combination. However, you cannot borrow more than your cost of attendance minus other aid for which you are eligible. This means you may receive less than the annual maximum amounts.
  • Loans are awarded per academic year and students are not eligible to receive more than half a year's limit in one semester. For example a freshman student may not receive more than $1,750 in Subsidized Loans (half of $3,500) during one semester.
  • Monitor your loan history on the National Student Loan Data System here.


Federal Direct Parent Loan for Undergraduate Students (PLUS)


This program allows the parent with a good credit history to borrow to pay the cost of education for a dependent undergraduate student enrolled at least half-time. The yearly limit is equal to the student's cost of attendance minus any other financial assistance expected or received. The interest rate for PLUS loans disbursed between July 1, 2013 - June 30, 2014 is fixed at 6.41%. There is no grace period for this loans. Interest begins to accumulate at the time the first disbursement is made. Repayment of both principal and interest will begin 60 days after the full loan amount has been disbursed.

Parents can apply for the Parent PLUS loan by completing the Parent PLUS loan request form.

Applying for a Federal Direct Loan

When you complete the Free Application for Federal Student Aid (FAFSA) or the Renewal FAFSA, you are applying for all of the aid programs for which you may be eligible, including Direct Loans. Direct Loans are not automatically awarded or packaged to students.

Steps to Apply for a Loan

Log in to the Federal Student Aid Student Loans site at www.studentloans.gov with your Federal Personal Identification Number (FAFSA PIN). You will need to complete the following:

  1. National Student Loan Data System- You must review your aggregate loan amounts at NSLDS.
  2. Financial Awareness Counseling-You must complete the Financial Awareness Counseling. To complete, click here.
  3. Repayment Estimator Calculator- Use this tool to learn of your anticipated total loan expenses. Click on the "Your Loans" button to add the amount of your loan request.To complete, click here.
  4. Master Promissory Note (MPN)- You must complete the Master Promissory Note (MPN) for Baton Rouge Community College.
  5. Loan Entrance Counseling- You must complete the Loan Entrance Counseling for Baton Rouge Community College.

 


If still interested in applying for a loan, click here.

Attachments:
FileDescriptionFile size
Download this file (14-15 Loan Request Form.pdf)14-15 Loan Request Form.pdf 468 Kb
Download this file (2014-2015 Parent PLUS Loan Request Form.pdf)2014-2015 Parent PLUS Loan Request Form.pdf 476 Kb
Download this file (Direct Loan Information .pdf)Direct Loan Information .pdf 219 Kb