Subsidized Stafford Loan:
Subsidized Stafford Loans are for undergraduate, graduate and professional degree students. You must have financial need. You must be enrolled as at least a *half-time student to be eligible. The U.S. Department of Education will pay (subsidize) the interest that accrues on subsidized Stafford Loans during periods of *half-time enrollment and periods of deferment. Once the loan goes into repayment, the borrower (student) is responsible for the payment of the loan’s principal and interest.
As of July 1, 2013, federal limitations were implemented on borrowing Direct Subsidized Stafford Loans. More information regarding this regulation can be found in the Federal Student Aid document: Time Limitation on Direct Subsidized Loans.
Unsubsidized Stafford Loan:
Unsubsidized Stafford Loans are for undergraduate, graduate and professional degree students. Financial need is not a requirement to obtain an Unsubsidized Stafford Loan. You must be enrolled as at least a *half-time student to be eligible. The borrower (student) is responsible for the interest on the loan while in college and during grace and deferment periods. Once the loan goes into repayment the borrower (student) is responsible for the payment of the loan’s principal and interest.
full-time is defined as 12 or more credit hours each semester of attendance *half-time is defined as 6-8 credit hours each semester of attendance.
When the Financial Aid Office determines your eligibility for financial aid, consideration is given to your estimated costs for tuition, fees, books and supplies as well as living expenses and transportation. This is called the cost of attendance. The following is an average cost of attendance for a full-time, Colorado resident:
|Living with parents or relatives||Living independently|
|Tuition and Fees||$4,142||$4,142|
|Books and Supplies||$1,800||$1.800|
|Living Expenses and Transportation||$10,728||$17,694|
Please note: in Colorado the value for all allowable cost of attendance components, except for tuition and fees, is annually determined by the Colorado Department on Higher Education. Individual expenses will vary based on your choice of lifestyle and living arrangements. Loan eligibility is determined by using the student's cost of attendance minus estimated family contribution (EFC), minus their total award package. The EFC calculation is derived from the FAFSA.
Additional Unsubsidized Loan
Dependent students may request an additional $2,000 in an unsubsidized loan above the federal loan that they have already been offered. Independent students may request an additional $6,000. Fill out the Loan Request Form to request the additional loan.
Award Amounts - Effective July 1, 2008
Stafford Loan limits depend on year in school and dependency status
Dependent Undergraduate Students
|Classification/Year||Base Amount Subsidized Loan||Unsubsidized Loan Amount||Total|
|Third Year and Up||$5,500||$2,000||$7,500|
|Independent Students AND Students whose parents are unable to obtain a Plus Loan
Independent Undergraduate Students
|Third Year (Junior) and beyond||$5,500||$7,000||$12,500|
Dependent students may borrow up to a $31,000* maximum as an undergraduate (not more than $23,000 subsidized)
Independent students may borrow up to a $57,500* maximum as undergraduates (not more than $23,000 subsidized)
* New limit(s) in effect July 1, 2008.
Entrance Counseling and Master Promissory Note (MPN) Instructions:
Go to https://studentloans.gov
Sign in using your FSA User ID and Password
If you are a new user or have forgotten your ID or password:
Go to https://fsaid.ed.gov/npas/index.htm
Complete Step 1, Step 2 and Step 3
Click on I'm in School
Click on Complete Entrance Counseling
Follow all steps to completion.
Note: This step must be done if you have never completed this counseling before. It is also highly encouraged if you have not completed this counseling recently due to the many changes with student loans.
SIGN A NEW MASTER PROMISSORY NOTE (MPN)
Complete Master Promissory Note (MPN)
Click on I'm an Undergraduate Student
Follow all steps to completion. Step 1-5
Note: Borrowers who signed a MPN in the previous year do not need to complete a new MPN.
Electronic confirmation will be received within 24 - 48 hours for each of these sessions.
Complete the Federal Direct Stafford Loan Form indicating the amount of loan requested.
FEDERAL DIRECT STAFFORD LOAN REQUEST FORM
All pages of this form must be completed, signed and returned to the Financial Aid Office
You can fax the form to:
or mail to:
TSJC, Financial Aid Office
600 Prospect St.
Trinidad, CO 81082
or you can email to:
Electronic confirmation will be received within 24 - 48 hours for each of these sessions
Disbursement of Your Stafford Loan
Your loan will be disbursed in at least two installments. No installment will be greater than half the amount of your loan. If you are a first-year undergraduate student and a first time borrower, your first disbursement cannot be made until 30 days after the first day of your enrollment period.
Please note that any loan borrowed by the student or parent will be submitted to the National Student Loan Database System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.