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Direct Loans are available for you to borrow to offset your tuition and assist you with any educational related expenses. The loans are made through the William D. Ford Federal Direct Loan Program and are administered by the U.S. Department of Education. Below are Direct Loan Programs that are offered at Santa Ana College:
 
Direct Subsidized Loan – The amount awarded is based on your financial need. Interest is charged during the life of the loan, including the time you are in school less than half-time, during grace period, and during eligible periods of deferment. The only exception that the interest is waived is while you are enrolled in college on at least half-time basis (6 units). To be eligible for Subsidized Loan, you must be enrolling in 6 approved units.
  Effective as of July 1, 2013, all first-time borrowers can only borrowed Direct Subsidized Loan up to 150% of the length of the borrower’s published educational program. A first-time borrower is defined as someone who did not have an outstanding balance on a Direct Loan or on a FFEL Program Loan on July 1, 2013.   
  
Direct Unsubsidized Loan – This loan is not based on your financial need. Dependent students are eligible to borrow up to $2,000 of unsubsidized loan. However, if you are a dependent student and you are not eligible for subsidized loan, you may borrow up to $5,500 of unsubsidized loan. Interest is charged during the life of the loan, including the time you are in school, during grace period, and during eligible periods of deferment. To be eligible for Unsubsidized Loan, you must be enrolling in 6 approved units.
 
DIRECT LOAN LIMITS
 
Type of Loan

Freshman – Level 1

0-29.9 completed units

Sophomore – Level 2

30+ completed units

 

Direct Subsidized Up to $3,500 Up to $4,500
Direct Unsubsidized Up to $6,000 Up to $6,000
 
Interest rates for Direct Subsidized and Direct Unsubsidized Loan, first disbursed between July 1, 2013 and June 30, 2014, are as follow:
 
                   Direct Subsidized is fixed at 3.86%
                   Direct Unsubsidized if fixed at 3.86%
 
 
STUDENT LOAN WORKSHOP/STUDENT LOAN ENTRANCE COUNSELING
 
New Borrowers:
 
All student loan borrowers, except those who attended a loan workshop in 2012 or 2013 at Santa Ana College, are new borrowers and are required to attend a loan workshop before a loan can be awarded. The loan workshop will cover federally required Entrance Counseling as well as Santa Ana College policies and procedures. You will complete the Entrance Counseling and Master Promissory Note on-line at www.studentloans.gov prior to the loan workshop. After you have accepted your pending award(s) on WebAdvisor, or have received your award letter, you can pick up a loan packet and sign up for a loan workshop at the Financial Aid Office. Space is available on a first come first served basis. For a list of dates and times that these workshops are offered, click here. No loans will be processed until you have attended the loan workshop.
 
Returning Borrowers:
 
If you attended a loan workshop in 2012 or 2013 at Santa Ana College and you will be applying for another loan in 2013-2014 academic year, you are a returning borrower and are not required to attend another loan workshop. After you have accepted your pending award(s) on WebAdvisor, or have received your award letter, you can pick up a loan packet from the Financial Aid Office. To preven any unnessary delay in processing of your student loan, Please complete and return the packet as soon as possible. In addition, you are required to complete an Entrance Counseling on-line at www.studentloans.gov. No loans will be processed until you have turned in your loan packet and completed the Entrance counseling on-line.
 
 
STUDENT LOAN EXIT COUNSELING
 
All student loan borrowers (new and returning borrowers) are required to complete the Student Loan Exit Counseling on-line at www.studentloans.gov. You must complete your Student Loan Exit Counseling on or after your 2nd loan disbursement of the 2013-2014 school year or your last semester here at Santa Ana College, whichever comes first, or a HOLD will be placed on your student’s record.
  
 
For disbursement of your Direct Loans, please refer to the District’s disbursement policies by clicking on the following link: RSCCD’s Disbursement Policy

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