College of the Siskiyous participates in the William D. Ford Federal Direct Loan Program. In order to qualify for a Federal Direct Loan, a student must do the following:
Complete a FAFSA (Free Application for Federal Student Aid)
Complete their financial aid file with COS Financial Aid Office.
The student must be in good academic standing according to the Financial Aid Satisfactory Academic Progress Policy.
Students must be enrolled in six (6) or more units at COS.
The student cannot be in default on any other federal student loans.
NOTE: College of the Siskiyous does not participate in the Alternative Loan Program nor do we process any summer loans.
Please read the following before applying for any loans:
What are Federal Direct subsidized and unsubsidized loans?
Subsidized Federal Direct Loans are need-based. The federal government pays the interest on the loan while you are in school, during the grace period before repayment begins, and during periods of approved deferment.
Unsubsidized Federal Direct Loans are not based on financial need and are available to you regardless of income. Because this loan is not subsidized by the government, you are responsible for all interest which accrues during in-school, grace and deferment periods. You may choose to make periodic interest payments to the lender or opt to have the accrued interest capitalized (added on to) the principal loan amount.
For both Subsidized and Unsubsidized Federal Direct loans, repayment begins six months after you graduate, drop below half-time or withdraw from school. You will be contacted by your loan Service. To view your loan history and additional information, log onto https://www.nslds.ed.gov/nslds/nslds_SA/ using your FSA ID. The ECMC logo on the bottom of this page will connect you to their website which contains repayment information.