2023-2024 Additional Unsubsidized Loan Request

The 2023-2024 Additional Unsubsidized Loan Request is available here.

Complete this form only if you are an independent student or a dependent student whose parent has been denied a parent loan and require additional unsubsidized loan funds to pay for college expenses. The maximum dollar amount that you can request on this form is $4000, however, we cannot package you with funding above your Cost of Attendance.

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 website: https://studentaid.gov/ 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) who 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) who 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 packaged for two semesters unless you are graduating in one semester. If you are graduating in one semester, you may request a one-semester loan on Self-Service or email us at finaid@hagerstowncc.edu. If you are planning to attend for Fall, Spring & Summer semesters, you may request that your loan amounts be awarded for all three semesters. Keep in mind that you must be enrolled at least half time (6+ credits) in classes that are required for your academic program of study in order to qualify for a loan disbursement each semester.

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

Loan Application Process

• To apply for student loan funds, please complete the FAFSA and submit all the documentation requested by the Student Financial Aid Office.
• To receive loan money, you must accept your loan(s) online via Self-Service. The award notification will be available on Self-Service 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 https://studentaid.gov/. You will need your FSA ID to complete this process.

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