Getting In
Federal Direct Loans
The Federal Direct Loan Program will replace the Stafford Loan program at MiraCosta College effective
July 1, 2010.
A Few Words of Advice...Borrow only if absolutely necessary.
MiraCosta Financial Aid Office does not participate in certifying alternative/private education bank loans.
Loan Information
Federal Direct Loans: federal loans which must be repaid, with interest.
The maximum eligibility for grade level 1 (freshmen 0 - 29 college units) is $3,500 per academic year, and the maximum eligibility for grade level 2 (sophomores 30 college units or more) is $4,500 per academic year. Students receiving loan funds for one semester at MiraCosta in order to complete their educational program may receive prorated amounts.
You will not be required to make principal payments while you are in school at least half-time. Six months after leaving school, dropping below half-time or graduating, you will begin to make regular monthly payments on both the principal (the amount you borrowed) and the interest (the amount charged to you for borrowing the money). Depending upon the total amount you borrowed, it may take up to ten years to repay your loan(s).
Direct Loan funds are disbursed in equal payments throughout the entire loan period. No loan checks will be released under any circumstances prior to the thirtieth day of a semester or summer session. ALL loan disbursements will be mailed to students or through direct deposit.
A Few More Words of Advice. . . Borrow only what is absolutely necessary. You may be paying back this loan for a long time. Take the time now to ask questions and make the right decision, that decision can save you money.
Student Loan Information
- 2012-13 loan information not available at this time
