Video: Know your loans!
Student Loans
Student loans provide money for college that you must pay back in the future. There are several types of student loans offered by the U.S. government. In addition, some private lenders offer student loans, although these are generally more expensive.
Federal Direct Loan Program
Federal Direct Loans are intended to help students from both low- and middle-income families. Students must meet the minimum eligibility requirements, which include being enrolled in at least six units at the college.
Direct subsidized loans are made to eligible students who demonstrate financial need. The college will determine the amount you can borrow, based on your need. You will not have to pay interest on this type of loan
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as long as you are attending school at least half-time
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during the first six months after you leave school
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or during a period in which you have qualified for a deferment or postponement of loan payments.
Direct unsubsidized loans are made to eligible students without a required demonstration of financial need. The college will determine the amount you can borrow. You must pay the interest on this type of loan, even while you are in school.
Direct Plus loans are made to parents of dependent students, who wish to borrow money to help pay for their student’s education.
For more information, see the Federal Student Aid website or the studentaid.gov website.
Prorated Loans
Students attending De Anza College for one or two terms are subject to prorated loan amounts. Students attending for one quarter will have their loan disburse in two equal disbursements on the scheduled refund days.
Exit Counseling
All students who receive a federal loan are required to complete an online session known as “exit counseling” when they graduate, leave school or drop below half-time enrollment. This counseling is designed to give students information about repaying their loans and help them understand their rights and responsibilities as a borrower.
If you are leaving school after receiving a federal loan, you will receive an email with a link to the website where you can complete the counseling session. You will also see a notification when you log onto MyPortal. (You can also find a link to the exit counseling site at studentaid.gov.) You will have 30 days to complete the online session. If you don’t, the college may place a hold on your student records, including transcripts.
To get started on your exit counseling, you should have the following information ready for each of your student loans:
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Name, address and telephone number of nearest relative
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Name, address and telephone number of two additional references
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Name, address and telephone number of employer (if employed)
When you visit studentaid.gov, you can follow the links to the exit counseling pages. After you have answered all questions, you will see a completed form online, which you can print for your records.
National Student Loan Data System
If you are a student or parent borrower, De Anza is required to submit information about your loan to the National Student Loan Data System. This information will be available to guaranty agencies, lenders and other institutions that qualify as authorized users of the data system.
Terms and Conditions
Please note: Each type of financial aid has important terms and conditions that you must follow. See this page for details.
