2014-2015 Additional Unsubsidized Loan Request

Complete this form only if you are an independent student or a dependent student whose parent has been denied a parent loan who requires additional unsubsidized loan funds to pay for college expenses. The maximum dollar amount that you can request on this form is $4000.

Special Considerations for Students

Students should consider carefully how much they will need to borrow. They should consider the burden of repaying loans and what it will impose on them and their families after leaving school. Students who are planning to transfer to a four-year college are advised not to borrow additional loans at the community college level if grants, scholarships, or other payment arrangements are available.

If you do borrow student loans, please consider following these suggestions:

  • Live like a college student now so that you won’t have to live like a college student later. Keep luxuries to a minimum.
  • Always be aware of how much you've borrowed in student loans and what the estimated monthly payments will be.
  • Check the National Student Loan Data System to make sure the loan amounts reported match your records and to obtain servicer contact information.
  • Contact your loan holder to discuss possible options if you are having trouble making your loan payments.
  • Set up auto-payments for your student loans.
  • Request a different repayment plan if needed.
  • Notify your loan holder of any changes to your address, phone number, name, or enrollment status.

Unsubsidized Direct Student Loans require that you, the student, pay the interest that accrues while you are attending school. If you choose to defer the interest until after graduation, the interest will be capitalized, resulting in a larger principal balance and more interest paid.

All student financial aid applicants, who complete the FAFSA and are eligible, will be awarded student loan funds.

  • Freshman students (0-29 credit hours completed) that are registered in an eligible program will be awarded $5500 ($3500 subsidized/$2000 unsubsidized or any combination of sub and unsub amounts based on need).
  • Sophomore students (at least 30 credit hours completed) and are registered in an eligible program will be awarded $6500 ($4500 subsidized/$2000 unsubsidized or any combination of sub and unsub amounts based on need).

All loans are processed for the 2014 fall semester and 2015 spring semester, unless you are graduating from HCC in December 2014. If you are graduating from HCC in December, 2014, you may request a Fall only loan. If you are planning to attend for Fall, Spring & Summer terms, you may request that your loan amounts be packaged for all three terms.

Fall/Spring loans are disbursed in four disbursements. Half the certified loan amount is disbursed during the fall semester in two disbursements and the second half is disbursed during the spring semester in two disbursements.

Loan Application Process

  • To apply for student loan funds, you must complete the FAFSA and submit all the documentation requested by the Student Financial Aid Office.
  • To receive loan money you must sign the HCC Award Notification, printed from WebAdvisor, and return it to the Student Financial Aid Office. The award notification will be available on WebAdvisor once your loan has been processed.
  • If you have not had a previous Direct Student Loan you must complete the entrance counseling and the MPN at www.studentloans.gov. You will need your FAFSA PIN (Personal Identification Number) to complete this process.
  • Before completing the information below, you must complete the Financial Awareness Counseling session at www.studentloans.gov. Log in using your Federal Student Aid PIN and select the “Financial Awareness Counseling” option once you click “complete counseling.” Please provide a print off of the completion to the Financial Aid Office as soon as possible.
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Answer the next three questions accurately. If answers are inaccurate your request for additional loan money will be denied.

You cannot request additional loan funds before your eligibility for all other aid has been processed.

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This amount is available at http://www.nslds.ed.gov

 

Aggregate Loan Limits: Maximum limit while working on all undergraduate degrees: Dependent students are limited to $31,500 (no more than $23,000 of which can be subsidized) Independent students are limited to $57,500 (no more than $23,000 can be subsidized.)

Below is a sample loan repayment chart for the Standard Repayment Plan.

Loan amount
Monthly payment
Total repaid (principal + interest)
$5,500 $63 $7,595
$12,000 $138 $16,571
$19,500 $224 $26,929
$27,000 $311 $37,286
$31,000 $357 $42,810

 

United States Department of Labor Statistics: www.bls.gov

Please read the following:

  • I understand that I must complete the Exit Interview Session when I leave school whether by graduating, transferring or withdrawing at www.nslds.ed.gov.
  • To receive loan funds I must be enrolled and attending at least half time (six credits or more) at the time of the loan funds are disbursed to my account.
  • I understand that I am to use any loan funds for educational expenses only.
  • The Student Financial Aid Office communicates mainly via e-mail. The e-mail address listed below is one that I check on a regular basis. I am responsible for reading e-mail regarding my student loans. If I do not understand said e-mail it is my responsibility to contact the Student Financial Aid Office for clarification.
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