Direct/Stafford Loan Information
Subsidized and unsubsidized Stafford loans are federal student loans for eligible students to help cover the cost of higher education. Direct Loans are funded by the U.S. Department of Education. Students must be enrolled half-time (6 credit hours) to be eligible.
- Direct Subsidized Loans - Direct Subsidized Stafford loans are available to students with financial need.
Under this program, the government pays the interest while the student is enrolled
at least half-time. Students who do not complete their program within 150 percent
of the length of the program may lose their subsidy. The interest rate is fixed and
changes every July 1. The maximum amount students can borrow is based upon grade level,
course of study and financial need. For interest rate information, click here.
- Direct Unsubsidized Loans - Direct Unsubsidized Stafford loans are not based on financial need. Under this
program, students are responsible for repayment of the interest accrued from the date
the funds are disbursed. Principal payments are deferred until six months after a
student graduates, transfers, leave school, or drops below half-time status. However,
students are responsible for repayment of the interest accrued from the date the funds
are disbursed. The fixed interest rate depends on when the loan is disbursed. The
maximum amount students can borrow is based upon grade level and course of study.For interest rate information, click here.
- Direct Parent Loans for Undergraduate Students - Direct Parent Loans for Undergraduate Students are available to parents or legal
guardians of dependent undergraduate students. Parents or legal guardians may borrow
up to the cost of attendance minus any financial aid each academic year. The fixed
interest rate depends on when the loan is disbursed. The repayment period begins 60
days after the loan is disbursed, unless a deferment has been requested and granted.
The interest begins to accrue upon initial disbursement. For interest rate information, click here.
- Click here for more information about the Federal Loans.
The following information will help you with the student loan process. Please read
the information carefully. If you have further questions, contact the Financial Aid
In order to borrow, under the Direct Stafford loan programs students must complete a Master Promissory Note (MPN), a Loan Authorization Form (LAF), and Entrance Counseling in addition to completing the FAFSA application.
To begin the online student loan process, please click the link below:
Note: All student loan recipients are required by the federal government to attend an exit interview session shortly before graduating, transferring from or leaving EICC. If you have not already attended an exit interview session at EICC, you must complete this requirement during your LAST semester of attendance at EICC. You may complete this requirement here.