6. Student Loans

6. Student Loans

 Students will receive their federal loan funds directly from the Federal Government through the William D. Ford Student Loan Program. Please consult your Award Letter and the chart below to determine how much of a loan you would like to take.   For more information, please take time to view the Department of Education's publication Direct Loan Basics for Students

There are three steps you must follow in order to secure a loan.  

  1. Fill out your Master Promissory Note (MPN). You may do this at  www.studentloans.gov
  2. Fill out a Student Loan Data Sheet

    Print Out and Return to:

    Financial Aid Office
    911 East Urbandale Drive
    Moberly, MO 65270

  3. Complete the federally mandated Entrance Counseling. You will need to do this in step 8.

Students and Parents who chose to participate in the Direct Federal Student Loan Programs are advised their loan information will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.  For more information, please contact the Financial Aid Office.  You may view your loan information at any time at www.nslds.ed.gov 

Loan Maximums for the 2014-2015 Academic Year

Please remember that loan requests will generally be divided into two (2) equal parts for distribution. Half of the loan will be distributed during the fall semester and the other half during the spring semester. Please note, that if you are going to be an online student, you must currently be participating or enrolled in at least 6 hours of classes in order to received your Federal Student Loans.  In other words if you are in two different sections of classes that have different start dates within one semester, you may not receive your loans until you are enrolled or have taken at least 6 hours of credit and met the attendance qualifications.  Please see the On-Line Policies at this link. 

Dependent Student Loan Maximum Amounts for 2014-2015

Academic Year Subsidized Loan Unsubsidized Loan Total
Freshman $3,500 $2,000 $5,500
Sophomore $4,500 $2,000 $6,500
Junior $5,500 $2,000 $7,500
Senior $5,500 $2,000 $7,500

Independent Student Loan Maximum Amounts for 2014-2015

Academic Year Subsidized Loan Unsubsidized Loan Total
Freshman $3,500 $6,000 $9,500
Sophomore $4,500 $6,000 $10,500
Junior $5,500 $7,000 $12,500
Senior $5,500 $7,000 $12,500

All loans will be certified by the Financial Aid Office. The Financial Aid Office will determine each student’s eligibility for each type of  loan, subsidized or unsubsidized. For more information, please consult the Financial Aid Handbook or email your questions to rhondadunham@cccb.edu  

Once student loans are certified, a student's portal information will allow them to view the expected disbursement dates of their student loans.  Additionally, once a student's loan monies have been received by the college from the Department of Education, their portal information will be changed from aid PENDING to aid APPROVED.   Students who opt out of electronic notification will receive confirmation of the disbursements in their student mail boxes within 3 business days of when the monies were placed on the student's account. 

Private Student Loans

The affordability of attending Central Christian College makes the need for Private Student Loans rare. However, if a student determines they need to apply for such a loan, Central’s Financial Aid Office will certify the loan for the student up to the COA. Students will need to complete a Self-Certification form ensuring they understand that this loan is NOT a federal loan. 

The benefits of applying for a student loan from the Direct Loan Program far outweigh the benefits of a Private Loan. Students are encouraged to utilize Federal Student Aid and always apply for a Direct Loan first before they consider a Private Student Loan.