JCJC School Code
002411
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 .:FINANCIAL AID >> TYPES OF FINANCIAL AID >> STUDENT LOANS:.
STUDENT LOANS
Federal Family Education Loan Program (FFELP) is educational loans with variable, low interest rates which must be repaid. This program offers three types of student loans: Subsidized Stafford Loan, Unsubsidized Stafford Loan, and Parent PLUS Loan (obtain Parent PLUS Loan application from bank of choice). Students are required to complete the FAFSA along with the loan application to be considered for a student loan. Applications are available under forms on the JCJC financial aid website or students can request an application from the JCJC FAO.
Three Types of Loans:
- Subsidized Stafford Loan – To qualify for these loans, the student must demonstrate financial need as a result of filing a FAFSA. The annual amount that may be borrowed per year is set by the federal government and is based upon the student’s grade level. The interest on this loan is paid by the government while the student is enrolled on at least a half-time basis. The student becomes responsible for the interest and principal payments six months after graduation or dropping below at least half-time enrollment.
- Unsubsidized Stafford Loan – The only difference between this loan and a Subsidized Stafford Loan is that the Unsubsidized Stafford Loan is not need-based and the student is charged interest on these loans from the date of first receipt of loan funds. Although the student must complete a FAFSA to qualify for an Unsubsidized Stafford Loan, eligibility is not determined based on need, but based on the student’s cost of attendance minus other financial aid the student expects to receive. Interest rates and repayment provisions are the same as Subsidized Stafford Loans.
- Parent PLUS Loan – Parents of a dependent student may apply for a PLUS Loan to help meet the student’s cost of attendance not covered by other financial aid. Interest rates and repayment provisions on PLUS loans are generally more favorable than other consumer loans available for educational expenses. The student must apply for the FAFSA, submit a student loan application, and submit the PLUS loan application. PLUS applications may be obtained from the bank. Repayment starts as soon as funds are disbursed.
ANNUAL LOAN LIMITS |
Dependent Student |
Subsidized/Unsubsidized (Combined) |
Grade Level 1 |
$3,500 |
$2,000 |
Grade Level 2 |
$4,500 |
$2,000 |
Independent Student |
Subsidized/Unsubsidized |
Grade Level 1 |
$3,500 |
$6,000 |
Grade Level 2 |
$4,500 |
$6,000 |
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Entrance and Exit Counseling - mappingyourfuture.org/oslc/ - [Required for all first-time borrowers at JCJC]
Entrance Counseling
U.S. Department of Education regulations require all first-time borrowers of Federal Stafford and Federal Unsubsidized Stafford Loans to complete an entrance interview. The JCJC FAO cannot process a student’s loan until counseling has been completed. Access the entrance counseling online at mappingyourfuture.org/oslc/.
Exit Counseling
U.S. Department of Education regulations require Federal Stafford and Federal Unsubsidized Stafford Loan recipients to complete an exit interview when graduating from or when leaving JCJC. Access the exit counseling online at mappingyourfuture.org/oslc/.
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Lender List
If the lender a student would like to use is not listed, please provide the JCJC FAO with the name, address, and lender code. If additional questions exist, please contact the FAO at 601-477-4040.
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Check the processing status of a loan
The stipulations below apply:
Before loan is processed:
- A first-time borrower, a student who has never attended college, loan will not be processed until mid-term pending the student meets satisfactory academic progress.
- If a suspension appeal for GPA has been approved for the student’s financial aid to be reinstated, the student must have at least a 2.0 GPA at mid-term in order for the loan to be processed.
- If the student is a transfer student with unsatisfactory grades, at mid-term the student must comply with JCJC’s satisfactory academic progress policy.
- If a student applies for a loan after midterm or if the loan is processed after midterm, the student must comply with the satisfactory academic progress policy.
- If the student is on probation because of unsatisfactory grades, the mid-term grade point average must be at least a 2.0.
After loan is processed:
- In order for a student loan check to be mailed, all fees must be paid or covered by financial aid.
- A student must be enrolled in at least six (6) hours in order to be eligible for a student loan.
- Loan amounts may be adjusted for any of the reasons listed below:
1. Change in enrollment
2. Increase or decrease in aid or additional aid not previously reported
3. Withdrawals
- In order for a student’s loan check to be mailed, the student may be required to obtain satisfactory progress in class and attendance verification from instructors.
- If a student is on financial aid suspension, the student is not eligible to receive a student loan. |
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