GCC Financial Aid
GCC Financial Aid
   
 
 
Program Name Program Detail How to apply
Federal Direct Subsidized Loan
  • A need-based loan available to undergraduate students who are enrolled at least half-time (6 credits per semester) in an eligible program leading to a degree or certificate.
  • As of July 1, 2012 new subsidized Direct Stafford loans issued in 2012-13 will accrue interest during the six-month "grace period" after students leave school.
  • Loans must be repaid.
  1. File a FAFSA.
  2. Fill out a Gloucester County College Direct Loan Request Form
  3. If you are a first time Direct Loan borrower you are required, to complete the Federal Direct Loan Master Promissory Note (MPN)on-line at studentloans.gov.
  4. First time Direct Loan borrowers at Gloucester County College must also complete Entrance Counseling on-line at studentloans.gov.
  5. Turn documents in to the Gloucester County College, financial aid office.

 

Federal Direct Unsubsidized Loan
  • Available to undergraduate who are enrolled at least half-time per semester in an eligible program leading to a degree or certificate.
  • Financial need is NOT a requirement.
  • The federal government does NOT pay the interest on this loan while you are in school; instead, you are responsible for the interest during the life of the loan.
  • Loans must be repaid.
Federal Direct Parent PLUS Loan
  • Credit-based federal loan available to parents of dependent undergraduate students who are enrolled at least half-time (6 credits per semester) in an eligible program leading to a degree or certificate.
  • Annual loan may not exceed the student's cost of attendance minus any anticipated financial aid.
  • Repayment begins 60 days after final loan disbursement unless a deferment is granted through the Direct Loan Servicer.
  • Loans must be repaid.
  1. Student must file a FAFSA.
  2. Parent must submit a Federal Direct Parent PLUS Loan Authorization (available on our forms page after May 1) to the Office of Financial Aid
  3. If this is your parents first time borrowing a Federal Direct PLUS loan, complete the Federal Direct PLUS Loan Master Promissory Note (MPN) online at studentloans.gov.
  4. A credit check will be performed by the Department of Education’s Direct Loan Processor. Written notification of your credit check results will be sent to you.

For additional information on repayment options and interest rates for Direct Loans click HERE.   

Annual Direct Loan Limits
Dependent Students Subsidized Additional Unsubsidized Loan Limits Total Federal Loan Limits
1st Year $3,500 $2,000 $5,500
2nd Year $4,500 $2,000 $6,500
Independent Students
& Dependent Students
Whose Parents Cannot
Borrow a PLUS Loan
Subsidized Additional Unsubsidized Loan Limits Total Federal Loan Limits
1st Year $3,500 $6,000 $9,500
2nd Year $4,500 $6,000 $10,500

 

Aggregate Direct Loan Limits (Total Cumulative Loan Amounts)
Undergraduate Dependent Students $31,000 - no more than $23,000 of which can be subsidized
Undergraduate Independent Students $57,500 - no more than $23,000 of which can be subsidized
GCC FinancialAid