Direct Loans - Crafton Hills College

Crafton Hills College participates in the Federal Direct Loan (DL) Program. The DL Program is a student loan program offered by the U.S. Department of Education to eligible students to cover higher education costs. Subsidized and Unsubsidized Direct Loans are available at CHC. Interested students must meet financial aid requirements at CHC and consider their ability to repay the loan along with interest. To apply, students must submit the current year FAFSA, complete all “action items" in Self-Service, be enrolled in at least six units, meet Satisfactory Academic Progress (SAP), submit a current Student Educational Plan (SEP), and must not be in default or owe an overpayment on a federal grant. Students may request a “Direct Loan Interest Form” from the Financial Aid office or by calling 909-389-3309. Once a DL Request is received, additional documentation and information will be provided to the student. 

Understand your current loan amounts -

All federal student loans obtained by a student are reported to and tracked on the National Student Loan Data System (NSLDS).  This information will be accessible to guaranty agencies, lenders, and institutions determined to be authorized data system users. For student loan information published by the U.S. Department of Education, visit https://studentaid.gov/understand-aid/types/loans. Student loan borrowers may view their federal loan information by logging into StudentAid.gov with their FSA ID. Use the Federal Student Aid Estimator to estimate your eligibility for loans, grants, and work-study.

Direct Subsidized Loan-

A subsidized loan based on financial need. Unmet "need" is determined by subtracting the Student Aid Index (SAI) and all other forms of financial aid from the Cost of Attendance (COA) or budget. Interest is paid by the federal government while you are in school as at least a half-time student (taking 6 units), during your grace period, and during your deferment periods. Interest begins to accrue once you enter repayment.

Direct Unsubsidized Loan-

Direct Unsubsidized loans are not based on financial need and are available to students regardless of income. The interest begins to accrue after your first disbursement. Interest will continue to accrue until the loan is paid in full.

Loan Repayment-

Federal student loans are long-term obligations. Accepting a loan means accepting the responsibility for repaying the money you borrow, including interest costs and fees. Before you request a loan, determine the true costs, interest rates, and how long it will take to repay the loan. To get answers to these questions and more, go to https://studentaid.gov.

StudentAid.gov offers an online Loan Simulator that helps you estimate monthly student loan payments and choose a loan repayment option that best meets your needs and goals. You can also use it to decide whether to consolidate your student loans.

Cohort Default Rate-

A cohort default rate is the percentage of a school's student borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), Oct. 1 to Sept. 30, and default or meet other specified conditions prior to the end of the next fiscal year. Please refer to the Cohort Default Rate Guide for a more in-depth description of cohort default rates and how the rates are calculated.

Students who default on their student loans affect Crafton Hills College’s ability to participate in the financial aid programs once the institution’s default rate reaches certain levels. The U.S. Department of Education announced that the current national federal student loan cohort default rate at Default Management (https://fsapartners.ed.gov/knowledge-center/topics/default-management) website (also referred to as the CDR) . Schools who exceed 30% may have to take additional steps to continue to process federal and state financial aid.

Cohort Fiscal Year 2018 Calculation-

Borrowers who entered repayment in 2018 and defaulted in 2018, 2019, or 2020. (0)

Crafton Hills College Cohort Default Rate (CDR) = 0%

2018 2017 2016
     

 

Requesting a Federal Direct Loan
To request a Federal Direct Loan, email financialaid@craftonhills.edu and include the following:

  • Your full name
  • Your Crafton Hills College student ID number
  • The Financial Aid Office will review your financial aid file to determine if you meet the minimum qualifications and are eligible to request a loan.

If you are eligible, you will receive an email in your CHC student email account with instructions on the next steps.
If you are not eligible, you will receive an email explaining why you do not currently meet the minimum qualifications and what steps you need to take to become eligible in the future.

Private Loans

Private education loans are non-federal loans offered by private lenders such as banks, credit unions, and other financial institutions. These loans are typically used to help cover educational expenses not met by other types of financial aid.

For information on Private or Federal Direct Loans, please visit the Financial Aid Office or call 909-389-3309.