El Centro College participates in the William D. Ford Federal Direct Loan (Direct Loan) Program.
If you are a financial aid applicant, you will be offered a Federal Direct Loan award, whether you want a loan or not.
The process ultimately puts more information and control in
your hands, but it does involve a few steps you need to take. Here are
an overview and some questions and answers about the two-step loan process to help you.
If you are a first-time borrower on or after July 1, 2013, there is a limit on the maximum period of time that you can receive Federal Direct Subsidized Loans.
Learn more about the 150% loan rule.
El Centro College awards all aid, including loans, based on
half-time enrollment (six (6) credit hours). Enrollment statuses greater than half-time (more than six (6) credit hours) are evaluated on an individual basis. This policy helps to minimize student loan debt and assists in Direct Loans only being used to pay educational expenses such as tuition, fees, books and transportation. By law, federal student aid funds may only be used for educational purposes.
You must be registered in at least six (6) credit hours of course work at the college(s) to be eligible for a loan. We will check your enrollment status each time we schedule a loan disbursement. If you drop below six (6) credit hours before a loan is disbursed, you will not receive that disbursement. The loan will be cancelled and returned to the lender.
Studentloans.gov for more information about loans, including borrower’s rights, interest rates and repayment options.