Direct Loans are low-interest loans for you and/or your parents to help pay for educational expenses. The lender for Direct Loans is the U.S. Department of Education rather than a bank or other financial institution. Loans are a form of financial aid that must be repaid with interest.
Requires financial need, as determined by federal regulations; No interest is charged while a student is in school at least half-time, during the grace period, and during deferment periods. Payment due 6 months after graduation or dropping below half-time enrollment.
Not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods. Payment due 6 months after graduation or dropping below half-time enrollment.
Must be the parent of a dependent student enrolled at least half-time; credit check is required; not based on financial need; interest charged during all periods, even during the time a student is in school and during grace and deferment periods. Payment due 60 days after final disbursement (may be deferred while student is enrolled at least half-time).
All the above loan types have loan fees that are a percentage of the total loan amount. See Federal Student Aid's current loan fees.
STUDENTS ON FINANCIAL AID WARNING OR WHO ARE APPROVED ON AN APPEAL SUSPENSION ARE REQUIRED TO SUBMIT A STUDENT PROGRESS REPORT SIGNED BY ALL INSTRUCTORS REFLECTING SATISFACTORY GRADES IN EACH COURSE BEFORE FUNDS WILL BE RELEASED.
Please allow a 48 hour turnaround time for your insideBC requirements section to be updated. (This does not include weekends)
Are you past due on your federal student loans? Call today to get on the right track-with your federal student loans at 1-844-ON-TRACK or visit ECMC Solutions. Our services are proviced to your at no cost by your former school!
Did you know?
The government can take your tax return if you default on your federal student loan.
There are options that may help you avoid loan default. Bakersfield College has teamed up with E.C.M.C. Solutions to provide student loan borrowers a resource to help you manage your educational loans. This service is FREE of charge and you can contact them regarding loan repayment advice, repayment plan options, forbearances and deferments, and loan forgiveness. Contact E.C.M.C. Solutions by phone at 1-877-331-3262 or visit E.C.M.C. Solutions to connect through email or web chat with one of their counselors.
Bakersfield College is accredited by the Accrediting Commission for Community and Junior Colleges, Western Association of Schools and Colleges, 10 Commercial Blvd., Suite 204, Novato, CA 94949, (415) 506-0234, an institutional accrediting body recognized by the Council for Higher Education Accreditation and the U.S. Department of Education. Additional information about accreditation, including the filing of complaints against member institutions, can be found at: www.accjc.org