Almost every student will borrow from the federal student loan programs during the course of their educational experience. The information provided here is a guide to those programs.
CSU Channel Islands will participate in the Federal Direct Student Loan Program. This means that if you borrow a federal Stafford or PLUS loan, your funding will come directly from the federal government. By participating in the Direct Loan Program, we ensure that CI families will have access to a secure, dependable, and affordable source of funds to finance their educational costs.
CSU Channel Islands participates in the Direct Loan Subsidized, Unsubsidized, and PLUS federal student loan programs to give our students the full range of options available for paying for college. These federal loan programs offer a secure, government-regulated and reasonably affordable way to invest in yourself and your goal of a higher education.
Student Loans are financial obligations that must be repaid. While some loans are based on financial need, there are loan programs available to all federally-eligible students – regardless of income. Keep in mind that you should not borrow more than you need or can comfortably repay after leaving school. We recommend using the Loan Repayment Calculator on the Federal Student Aid website as a guide as to what your monthly payments will be once you enter repayment.
As a borrower, it is your responsibility to know how much you have borrowed, who is your lender, and how much you will be required to repay when you leave school. The National Student Loan Data System (requires FSA ID) will help you collect your federal loan borrowing history at all educational institutions.
- Complete the Free Application for Federal Student Aid (FAFSA)
- Submit any documentation requested by the CSU Channel Islands Financial Aid office.
- When the student's financial aid file is complete, an award package will be generated, and can be accessed MyCI.
- Accept the loan offer on MyCI (you may accept a lesser amount than what is offered).
- Complete the Master Promissory Note (MPN) for Direct Stafford Loans.
- Complete the Online Entrance Counseling.
For questions regarding Loan Repayment, Deferment or Forbearance, contact your loan servicer:More details.
If after exhausting all sources of federal funding you decide to borrow a private loan, ask questions and compare lenders to ensure you are making the best choice for you.