Student Loans

Clark State participates in the Federal Direct Loan Program through the U.S. Department of Education, which offers two main types of student loans for undergraduates.

Direct Subsidized Loans are based on financial need. The federal government pays the interest while you’re enrolled at least half-time, during your six-month grace period after leaving school, and during approved deferment periods.

Direct Unsubsidized Loans are available regardless of financial need. Interest begins accruing as soon as the loan is disbursed. You may choose to pay the interest while enrolled or allow it to be added to your loan balance.

Annual Loan Limits for both depend on your dependency status and year in school. Dependent undergraduate students who have completed at least 30 credit hours in an eligible associate degree or certificate program may qualify for second-year loan limits.

Loan amounts and awards are based on your Cost of Attendance, other financial aid received and overall eligibility. The combined total of both Federal Direct Subsidized and Unsubsidized Loans cannot exceed your cost of attendance minus other financial aid or the maximum amount allowed by law, whichever is less.

Repayment on both typically begins six months after you graduate, leave school, or drop below half-time enrollment. Depending on your balance and repayment plan, you generally have between 10 and 25 years to repay your loan.

To apply for a Federal Direct Loan:

1. Complete the Free Application for Federal Student Aid
2. Complete Loan Entrance Counseling
3. Complete a Master Promissory Note
4. Complete Loan Exit Counseling when you leave school

If federal loans and other financial aid do not fully cover your educational expenses, you may consider a private (alternative) loan. Private loans are offered by banks or lending institutions and are not guaranteed by the federal government. They are designed to supplement — not replace — federal financial aid.