Financial Aid

Apply for Loan

Apply for Loan

Understand the steps to take out a student loan.
Loan Types and Loan Limits
Understand the difference between the 2 types of loans and the yearly limits that are available to you at CRC. 

National Student Load Data System (NSLDS)
Go here for information on your student loans.

Direct Loan Process (Subsidized or Unsubsidized)
Steps to Apply for a Loan
For a general description of the student loan process.

Other Important Loan Information
Loan Fact-List

Loan Timeline

Interest Rate and Loan Eligibility Update

150% Subsidy Usage


Loan Types and Loan Limits

Dependent Students Base Subsidized
and Unsubsidized
(Column A)
Additional Unsubsidized
(Column B)
Maximum Subsidized and Unsubsidized combined
(Total of Column A and B)
Grade Level 1
*(0-29.99 units)
$3,500 $2,000 $5,500
(No more than $3,500 being subsidized as listed in Column A)
Grade Level 2
*(30+ units)
$4,500 $2,000 $6,500
(No more than $4,500 being subsidized as listed in Column A)


Independent Students Base Subsidized
and Unsubsidized
(Column A)
Additional Unsubsidized
(Column B)
Maximum Subsidized and Unsubsidized combined
(Total of Column A and B)
Grade Level 1
*(0-29.99 units)
$3,500 $6,000 $9,500
(No more than $3,500 being subsidized as listed in Column A)
Grade Level 2
*(30+ units)
$4,500 $6,000 $10,500
(No more than $4,500 being subsidized as listed in Column A)

*Grade level is determined by the amount of units completed and applicable to your current program of study.

Subsidized Direct Loans

Eligibility for subsidized Direct Loan is based on need. Interest is paid by the federal government while you're in school at least half-time, during the grace period, and during periods of deferment. No payments are required while you're in school, but six months after leaving school, dropping below half-time, or graduating, you must begin making regular monthly payments.

Unsubsidized Direct Loans

Unsubsidized loans are available to all qualified students at participating schools, regardless of their income. Interest payments begin immediately. Although the interest can be deferred and "capitalized", regular loan payments start six months after the borrower ceases to be enrolled at least half-time.

IMPORTANT: Beginning July 1, 2013: Interest rates on Federal Subsidized Direct Loans varies (see chart below), and are permanently limited to 150% of the length of a student’s academic program. Students will be limited to receiving subsidized loans for 3 years in a 2-year program beginning July 1, 2013.

Interest Rates for Loans First Disbursed on or after July 1, 2013
Loan Type Borrower Type Loans first disbursed on or after 7/1/15 and before 7/1/16 Loans first disbursed on or after 7/1/16 and before 7/1/17 Loans first disbursed on or after 7/1/17 and before 7/1/18
Direct Subsidized Loans Undergraduate 4.29% 3.76% 4.45%
Direct Unsubsidized Loans Undergraduate 4.29% 3.76% 4.45%

All interest rates shown in the chart above are fixed rates for the life of the loan.

Note: The interest rates for federal student loans are determined by federal law. If there are future changes to federal law that affect federal student loan interest rates, we will update this page to reflect those changes.


Steps to Apply for a Loan

In order to complete the steps below you will need your PIN number, issued to you by the Department of Education (your FAFSA pin).

Although continuing borrowers are not required to completed the entrance counseling, the Department of Education has made the Financial Awareness Counseling Tool (FACT) available as a resource to provide students with basic financial literacy and information about the student's federal loan debt. The tool estimates what the student's loan debt and repayment amounts are likely to be when the student leaves school. It also provides financial planning tips. We encourage all borrowers to use this tool, especially before you decide to apply for a loan.

  • Please make sure to monitor your E-Services for updates after completing step one to ensure that your loan is processed within a timely manner.
  • The loan process generally takes about two weeks if you are actively completing the required steps listed below.
  • Budgeting is a necessary part of managing your money and preventing debts. Please borrow wisely!
  • Please visit the CRC Financial Aid Office or website for additional information regarding Federal Direct Loans.


Step 1: Federal Direct Loan Request in E-Services

Only Students who received an Award Notice can submit a Federal Direct Loan Request.

-View Financial Aid

-Select Award Year

-Federal Direct Loan Link


Step 2: Loans Offered 

A notification will be sent to your message Center within a week for you to accept the offer.


Step 3: Accept or Decline Loans Offered

Once you received notification that your loans were offered, you can accept the amount, reduce the amount to fit your financial need, or decline the offer.

After you received the loans offered, you will see checklist items added to your "To Do List".


Step 4: Origination (Automated Process)

After loans have been originated, you will then be allowed to complete the MPN process.


Step 5: Disbursement

Typically Loans are disbursed to students who have satisfied all the requirements to receive loans.


Loan Timeline

After your financial aid file is completed and you have received an Award Notification, you may begin the process of applying for a loan--see Steps to Apply for a Loan.

The loan certification process takes approximately 1 to 3 weeks after you have submitted your loan request. The process can be longer than the 1-3 weeks if your initial loan request is postponed for additional information. Failure to complete the loan entrance counseling (new borrowers) prior to submitting your loan request will result in the 1-3 weeks to start over.

When we have certified your loan and the Department of Education (DOE) receives your promissory note (MPN), the DOE will begin the approval process of your loan. In approximately 1 to 2 weeks after you complete the MPN, the Department of Education will send you a Disclosure Statement. The disclosure statement will list the anticipated disbursement date, but you must allow at least ten (10) working days (from the disbursement date) for the Financial Aid Office to process the disbursement for release. Please note that if you are a first time borrower the loan cannot be disbursed until 30 days after the start of the semester.

Your loan will be disbursed based on the disbursement method you have chosen with BankMobile.

Please complete the exit loan counseling at once your enrollment drops below half-time or you have graduated.


Loan Fact-List

In order to receive a loan, students:

  1. Must have a completed financial aid file. New borrowers must complete loan entrance counseling regarding the rights and responsibilities of accepting a loan.
  2. Must receive an award letter or award notification from CRC Financial Aid Office before submitting the Loan Request.
  3. Must be enrolled in at least six (6) approved units for the fall/spring semesters and at least three (3) approved units for summer loan eligibility.
  4. Must accept all federal and state educational grants and/or scholarships (such as EOPS, CARE and Federal Work Study) before requesting a loan.
  5. Must understand that loan amounts are based on school budget (cost of education) minus grants and scholarships, federal loan limits, and/or the requested amount.
  6. Must understand that for Direct Subsidized and Unsubsidized Loans, there are limits on the maximum amount you may borrow for an academic year (annual loan limits) and the maximum amount you may borrow in total (aggregate limits) for undergraduates.
  7. First time borrowers must wait 30 days from the first day of instruction (including late start classes) to receive the first loan disbursement.
  8. Must understand that payments are disbursed in two installments - one each semester (or two for one-semester-only awards).
  9. Must repay the full amount borrowed, even though origination fees are deducted prior to issuing each disbursement.
  10. Must complete a loan exit counseling once enrollment drops below half-time or you have graduated/transferred from CRC.
  11. Must begin monthly loan repayment 6 months after graduation, or if units have dropped below half-time (6 units). Interest rates on Direct Subsidized and Unsubsidized Loans with a first disbursement after July 1, 2017 and before July 1, 2018 is 4.45%. NOTE: For Direct Subsidized Loans with a first disbursement date after June 30, 2014 and before July 1, 2015, you are responsible for paying the interest that accrues during the grace period.
  12. Must agree to a loan fee of 1.066% that will be deducted from the principle amount borrowed on Direct Subsidized and Unsubsidized loans with a first disbursement date on or after October 1, 2017 and before October 1, 2018.
  13. Must keep the Department of Education and/or loan servicer informed of name, address, phone number, and school changes.
  14. Must have the Department of Education and/or loan servicer approve any deferment or forbearance requests.
  15. Must apply for a loan at least 30 days before the last day of instruction.
  16. Must understand unsubsidized loans have the same requirements as subsidized loans, but they are not need based. Interest on unsubsidized loans accrues when the loan is disbursed. Interest payments begin immediately but can be deferred.
  17. Student must maintain good academic standing at all times in order to receive a loan. Subsequent add/drop of any classes may result in cancelation of loan.
  18. If you receive your first federal student loan after June 30, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program. This is called your “maximum eligibility period”. Learn more about the Direct Subsidized Loan Time Limitation.
  19. Loan increase requests will not be accepted during the Fall semester. Students will only be allowed to submit one loan increase per year and the increase request will not be accepted until the Spring or Summer semester.

Where to Find Us

Location: Library Building, L-107 (1st Floor)
Main Office L-107
Mon - Thurs 8:00 am - 6:00 pm
Fri 8:00 am - 4:30 pm

Student Access Center L-125:
Fridays Only
8:00 am - 4:30 pm

Elk Grove Center FAO
Monday 8:00 am - 4:30 pm
Tuesday 8:30 am - 2:00 pm
Wednesday 8:00 am - 4:30 pm
Thursday 8:00 am 4:30 pm
Phone: (916) 691-7325
Fax: (916) 691-7651

Financial Aid

Visit the IRS website online in order to request and print either your Tax Return Transcript or Wage and Income Transcript.