Grants & Loans

Federal Pell Grant

A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree. For many students, Pell Grants provide a foundation of financial aid to which other aid may be added. Students must complete the Free Application for Federal Student Aid (FAFSA), and the amount of eligibility is based on the results from the Student Aid Index (SAI).

Federal Supplemental Educational Opportunity Grant

A Federal Supplemental Educational Opportunity Grant (FSEOG) is for undergraduates with exceptional financial need (students with the lowest SAIs) and gives priority to students who qualify for Pell Grants. An FSEOG does not have to be repaid. The school will award aid until funds are depleted.

Federal Work Study

The Federal Work Study (FWS) program provides jobs for undergraduate and graduate students with financial need who meet SAP standards, allowing them to earn money to help pay educational expenses. Students must be enrolled in at least 6 in-program credit hours each semester to qualify. The program encourages community service and work related to the course of study. The money earned through FWS does not have to be repaid by a student. The funds are direct deposited to the student’s bank account and not applied toward tuition and fees. Students must complete the FAFSA and have an outstanding financial need. Students who qualify for FWS are sent an email with a link to the online job board. Students should review open positions and contact the supervisor to request an interview. It is acceptable for students to request an interview with multiple supervisors. A student can only work one position during the semester. Once a student is offered a position and accepts, the supervisor will initiate contact with the Financial Aid Office to help the student begin the on-boarding process. The school will award aid until funds are depleted.

Federal Direct Stafford Loan Program

Federal Direct Stafford Loans are the Department of Education’s major form of self-help aid for students. Students must complete the FAFSA and a Master Promissory Note (MPN), which can be found here: https://studentaid.gov/mpn/. They must also complete loan entrance counseling (found here: https://studentaid.gov/entrance-counseling/) before they can receive funds, and must be enrolled in at least 6 in program credit hours for each semester loans are requested. Students must also complete loan exit counseling (found here: https://studentaid.gov/exit-counseling/ ) once they are no longer enrolled in at least 6 in program credit hours and/or have graduated. This means a student may be requested to do the Exit Counseling more than once a year if they fall below half time more than once.

Types of Direct loans available are:

Federal Subsidized Loan

A Federal Subsidized Loan is awarded on the basis of financial need. Students are not charged interest before they begin repayment or during authorized periods of deferment. The federal government subsidizes the interest during these periods. Students must have an outstanding financial need. This type of loan has a six month Grace period, which is a deferment period that starts when the student falls below half time status (6 in program credit hours). The school will determine eligibility.

Federal Unsubsidized Loan

A Federal Unsubsidized Loan is not awarded on the basis of financial need. Students will be charged interest from the time the loan is disbursed until it is paid in full. Students may choose to pay the interest while enrolled in school or allow the interest to accumulate. If the interest is allowed to accumulate, it will be capitalized – that is, the interest will be added to the principal amount of the loan and additional interest will be based upon the higher amount. This type of loan has a six month Grace period, which is a deferment period that starts when the student falls below half time status (6 in program credit hours). The school will determine eligibility.

Federal PLUS Loan

Federal PLUS Loans are for parent borrowers to assist their dependent student with educational expenses. We highly encourage students and parents to consider other financial aid options before considering this type of loan. Federal PLUS Loans are unsubsidized and cannot be transferred to their student at a later time. Applicants must consent to a credit check. The interest rate is 9.08% for loans disbursed after 07/01/24 but before 07/01/25. The current origination fee amount is 4.228%. Repayment of loan begins once the loan is fully disbursed. The yearly loan limit is the cost of attendance minus any other financial aid the student receives. Students will have to complete a FAFSA for the aid year before their parent can apply for this type of loan. Interested parents will need to reach out to their student’s Success Advisor in order to get the CSCC Federal Direct Parent PLUS Loan Application needed to apply.

Federal Loan Disbursement* Dates for 2024-2025

*Disbursement is the payment of money from the aid fund to your school account. Not to be confused with Refund, which is the payment of excess funds from your school account to you (via a physical check or direct deposit to your bank account -please see the Bursar for additional questions regarding Refunds).

Also, please be aware that other than the beginning of the term when disbursements are ran daily for a short time, disbursements throughout the rest of the semester are typically done on Mondays and Wednesdays. So if a disbursement date falls on a day other than a Monday or Wednesday, the disbursement will occur on the following disbursement day.

Students who have borrowed Federal Loans before**:

Fall ‘24 Disbursement
09/09/2024

Spring ‘25 Disbursements
02/04/2025

Summer ‘25 Disbursement
06/10/2025

**Students who have not borrowed Federal Loans before will have a mandatory 30 day waiting period before their disbursement is allowed to pay to their account.

Interest Rates for Federal Loans First Disbursed between July 1, 2024 and Before July 1, 2025:

Federal Subsidized and Federal Unsubsidized Loans – 6.53%
Federal Parent PLUS Loans – 9.08%

Origination Fees for Federal Loans First Disbursed on or After October 1, 2020 to Present:

Federal Subsidized and Federal Unsubsidized Loans – 1.057%
Federal Parent PLUS Loans – 4.228%

The following are the maximum annual Federal Loan limits:

For a Freshman (Less than 30 credit hours earned)-

Dependent – $5,500 ($3,500 of which can be a Federal Subsidized Loan if eligible)
Independent – $9,500 ($3,500 of which can be a Federal Subsidized Loan if eligible)
For a Sophomore (30 or more earned credit hours)-

Dependent – $6,500 ($4,500 of which can be a Federal Subsidized Loan if eligible)
Independent – $10,500 ($4,500 of which can be a Federal Subsidized Loan if eligible)
Students in the Law Enforcement Training (LET) Academy for Certification single semester only amounts:

Dependent -$2,200 ($1,400 of which can be a Federal Subsidized Loan if eligible)
Independent – $3,800 ($1,400 of which can be a Federal Subsidized Loan if eligible)

The following are the maximum undergraduate aggregate loan limits:

Dependent – $31,000 ($23,000 of which can be Federal Subsidized Loans if eligible)
Independent – $57,500 ($23,000 of which can be Federal Subsidized Loans if eligible)

Federal Loan Modifications and Cancellations:

You have the right to cancel all or a portion of your Federal Loans, even after the Federal Loan funds have been disbursed to you. If you wish to cancel an already disbursed Federal Loan, you must notify the Financial Aid office in writing via the Loan Modification Form within 14 calendar days of the billing statement notifying you that the funds have been applied to your account.

If you wish to modify (increase or decrease) or outright cancel your accepted loans, please contact your Success Advisor or email finaid@clevelandstatecc.edu. They will add out a Loan Modification form to your account for you to complete. *Please note that we can not award more than the loan limits and/or overall budget, regardless of how much a student requests.

Repaying Federal Student Loans:

Please contact your loan servicer (your assigned servicer/servicers can be found by logging in to https://studentaid.gov/ ) if you have any questions on repayment options, student loan forgiveness options, and/or if you are having trouble making payments. Please note that there are many scams related to student loans, so it is always in your best interest to avoid working with anyone other than your student loan servicer to complete your loan obligations. It’s important to stay in contact with your federal student loan servicer(s) so that your loans do not become delinquent or go into default. If you get behind on default on your student loan payments, it can impact your credit score, or the Department of Education can garnish your wages or take payments out of your tax return each year. Student loan delinquency or default can also affect your ability to borrow other loans for important things like a home or auto loan, as well as other future student loans.