LOANS

FEDERAL STAFFORD LOAN PROGRAM

Allows students to borrow up to $3500 as a freshman and $4500 as a sophomore per academic year
Loan amounts are awarded based on grade level and cannot exceed the established cost of attendance and the annual or aggregate loan limits.
There is a grace period of 6 months after graduation or dropping below half-time attendance before repayment of the principal of the loan begins.
Eligible students must be officially enrolled in a degree-seeking program and be attending at least half-time (6 hours)

The Stafford subsidized loan is awarded on the basis of financial need as determined by the FAFSA.
The federal government pays the interest on the loan until the student begins repayment and during authorized period of deferment.

The Stafford Unsubsidized loan is not based on financial need.
The student is responsible for accrued interest from the time the loan is disbursed until it is paid in full. You may choose to pay the interest as it accrues while you are enrolled, or you may defer the interest payments and allow them to accumulate. If you choose to pay the interest as it accumulates, you will repay less in the long run. If you defer the interest, you will increase the amount you have to repay.

Complete the FAFSA
Loan eligibility will be listed on the CSTCC Award Letter
Before accepting a loan, determine what your expenses and resources will be for the upcoming year. DO NOT BORROW MORE THAN YOU NEED!
Once CSTCC certifies your request, the loan application will be electronically submitted to the guarantee agency for certification.
If you choose one of the following lenders you can electronically sign your master promissory note: Regions Bank, Suntrust, Ed America, First Tennessee, or College Board.

Click on the link below and follow the directions to electronically sign and submit your promissory note to your lender and school.
https://loans.edfinancial.com/loans/lenderlists/f003998/default.aspx

The first disbursement for first-time freshman applying for a student loan will be delayed 30 days from the first day of class.

All first-time borrowers at CSTCC must complete an entrance interview before receiving any loan funds.
The federal government requires all students who stop attending school to complete an exit interview. This exit counseling will give you important information about repaying your loan. This counseling is for students who drop below half-time, withdraw or graduate from CSTCC.
To complete the loan entrance interview and exit counseling click on the link below:
http://www.mappingyourfuture.org/

Must be registered full-time in order to be eligible for student loans.
See the Chattanooga State Course Catalog for your specific program hour requirements.
Tennessee Technology Students' second disbursement is available at the midpoint of the program.

To find out who services your student loan and how to contact them, you can access the Loan Locator

To check the status of your student loan online, review the instructions at Elm Resources