This direct loan frequently asked questions (FAQ’s) page will help guide you to find some answers, as well as teach you about loans. See videos for additional information.
A loan made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at an approved college or career/technical school.
What is a Direct Unsubsidized Loan?
A loan made to eligible undergraduate, graduate, and professional students. Students do NOT have to demonstrate financial need to be eligible for the unsubsidized loan.
How much can I borrow?
For undergraduate 1st year students (less than 30 completed units):
Dependent/Independent: up to $3,500 Subsidized or Unsubsidized
Dependent/Independent: up to $2,000/$6,000 Additional Unsubsidized
For undergraduate 2nd year students (30 or more completed units):
Dependent/Independent: up to $4,500 Subsidized or Unsubsidized
Dependent/Independent: up to $2,000/$6,000 Additional Unsubsidized
Can I take out loans for Summer?
Yes, but eligibility will be determined upon Summer enrollment and previous loan amounts disbursed within the academic year.
When do I have to start repaying my loan(s)?
From the time a student either graduates or is no longer enrolled as a half-time student, a 6 month grace period will begin allowing the student to set up their loan repayment options or ask questions from their loan servicer. After their 6 month grace period, payments are due unless you have made other payment arrangements with your loan servicer.
For questions regarding loan repayments, you may call: 1 (800) 621-3115.
How can I defer my loan payments?
Loan deferment can be an automatic process if you remain enrolled in at least 6 units during each semester.
This form will then need to be completed by the Grossmont Admissions & Records Office and then you will mail this form to your loan servicer.
What if I want to cancel my loan request?
To cancel a loan request, whether you have received funds or not, you can complete the Loan Cancellation form at the Financial Aid Office for processing.
Can I return my loan if I have already received the funds?
Yes, but you need to contact the Grossmont College Loan Specialist at (619) 644-3940 to determine repayment options and timelines.
Last Updated: 07/30/2019
PLEASE NOTE: This link will take to a website outside of the college site.
