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Student Loan Programs – Terra State Community College

If you still need money to cover the cost of your degree program at Terra State Community College, student loans may be an option. Different loan programs may be available through Federal, State, and private sources.

Federal Direct Loans

To determine eligibility for Federal Direct Loans, student must complete the Free Application for Federal Student Aid (FAFSA). Once submitted the Terra State Financial Aid Office will notify the student of eligibility.

Direct Subsidized and Unsubsidized Loans

  • Student is responsible for borrowing and repaying.
  • Repayment deferred for six months after you graduate or drop below half-time status.
  • Fixed interest rates.
  • Requires at least half-time enrollment (6 credit hours).
  • Actual awards per student may vary based on information off the FAFSA, term and credit hours enrolled. Maximum award amounts are:

    Year in College 

    Dependent 

    Independent 

    First Year 

    $5,500

    $9,500

    Second Year 

    $6,500

    $10,500

    Maximum Total Debt from Loans 

    $31,000

    $57,500

Time Limitation of Direct Subsidized Loan Eligibility for First-Time Borrowers

There is a limit on the maximum period of time (measured in academic years) that a student can receive Direct Subsidized Loans. In general, students may not receive Direct Subsidized Loans for more than 150% of the published length of their program.
 

Federal Parent Loans for Undergraduate Students (PLUS)

  • Parents are the borrowers rather than the student.
  • The student must be enrolled at least half-time (6 credits per term) to remain eligible for the loan.
  • Repayment begins 60 days after the loan is issued.
  • Award amounts are up to the cost of attendance less any financial aid for an academic year.

Other Loan Options

Private Student Loans

  • Private student loans are loans provided to students through private lenders. These are not federal student loans, but still may require Terra State to certify enrollment. To apply, student must contact a private lender.

Student Loan Resources

  •  National Student Loan Data System  - The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for student aid. Use this site to view your lifetime federal loan activity, including interest accrued and lender/servicer information.
  •  Studentloans.gov - This U.S. Department of Education website provides information regarding interest rates, Federal Direct Loan policies, access to complete the Master Promissory Note and Entrance Counseling, repayment calculators, and Federal loan repayment options.
  •  Federal Loan Consolidation - The federal loan consolidation website provides borrowers to enter loans into a repayment calculators, learn about loan consolidation, and apply for loan consolidation.
  •  Debt Management - This site provides assistance for the repayment process, including those who are behind on payments. Don't default! There are numerous other options available for those having difficulties making payments.

Questions? Contact us.

If you need additional help with the financial aid process or have questions, please contact the Office of Student Financial Aid at 1-866-AT-TERRA (866-288-3772) ext. 2344. You can also click here to send an email Terra State Community College Financial Aid.

Cancelled Classes

 There are class cancellations for Monday, November 20, 2017.

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