贷款

Biden-Harris Administration's Student Debt Relief Plan

President Biden Announces New Actions to Provide Debt Relief and Support for Student Loan Borrowers: 
1. The Secretary of 教育 initiated a rulemaking process aimed at opening an alternative path to debt relief for as many working and middle-class borrowers as possible, using the Secretary's authority under the Higher 教育 Act.
2. The Department of 教育 (Department) finalized the most affordable repayment plan ever created, ensuring that borrowers will be able to take advantage of this plan this summer—before loan payments are due. This plan helps the typical borrower save more than $1,000 a year.

For more detailed information please check the Department of 教育 website 

Congress recently passed a law preventing further extensions of the payment pause. Student loan interest will resume starting on Sept. 1, 2023, and payments will be due starting in October.

Due to court action, loan forgiveness is currently blocked. Applications are currently 关闭. If you've already applied, processing is currently blocked as well. 检查 与 US Department of 教育 for more details

 

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The Department of 教育 is reducing interest rates to 0% and suspending payments on all Federal Direct 工作人员ord 贷款. All students are qualifying for this automatically and it takes effect March 13, 2020 to 60 days after the supreme court makes a decision on loan the Biden loan forgiveness plan or 60 days after June 30, 2023, whichever comes first. 贷款 include:

  • Parent PLUS
  • 毕业生加
  • Subsidized and Unsubsidized Federal Direct 工作人员ord loans  

Does not include Perkins, Private, or any older FFEL type loans
For more information, see the Coronavirus and Forbearance Loan Information announcement and Who's My Loan Servicer? on the Federal Student Aid website. You will find a detailed 常见问题解答 for more specific questions.

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贷款 are funds that must be repaid. Students should only borrow the amount that is absolutely necessary. 

It is a good idea to project what your total borrowing needs will be throughout your college career, and to be aware of what the necessary payments will be upon earning 一个学位.

The amount of the loan is determined by:

  1. Cost of attendance
  2. Loan eligibility
  3. Year in school
  4. Other aid already awarded 
Thumbnail of A Minute to Learn It - Borrowing Student 贷款

Types of 贷款

There are many types of loans available for students at San Jose State University, including: 

Undergraduate 贷款

Graduate/Parent/Professional 贷款

Other 贷款

  • Alternative 贷款 (Private Lenders)

  • Short-Term 贷款: Short-Term (Emergency) loans are available through the Bursar's 办公室. To be eligible you must have no outstanding debts to the university and must have sufficient financial aid or be gainfully employed. Contact the Bursar's 办公室 for more information.

Information about 贷款

Steps to Accepting 贷款

  1. Students accept loans in their My菠菜网lol正规平台 - Instructions to Accepting  a Federal Direct 工作人员ord Loan. [pdf]
  2. First time student loan borrowers at 菠菜网lol正规平台, must complete the on-line Entrance Loan Counseling session prior to receiving their first loan disbursement. Entrance Loan Counseling is an online session which addresses interest rates, deferments, and how to avoid default. There are no exceptions to this federal requirement. Make sure San José State is selected as your school when completing Entrance Loan Counseling.
  3. Students MUST eSign the Master Promissory Note prior to receiving a loan disbursement (must be signed every 10 years).  The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department of 教育. 

Deadlines

  • Fall 2023/Spring 2024 deadlines to accept loans:
    • December 8, 2023 for students attending Fall 2023 only
    • April 26, 2024 for Academic Year loan(s), or Spring 2024 only

General Info

  • Most loans are available for fall and spring semesters. 
  • Summer loans are evaluated on a case-by-case basis. 访问 the Summer Financial Aid 网页 for more information.

  • Students must maintain updated information 与 U.S. Department of 教育 Direct Loan Servicing Center. Report the following changes, if any:

    • Name, address or ph一个 number change
    • Transferring to another school
    • Leave of absence, withdrawal from school, or dropping below half-time enrollment
    • New graduation date

Exit Loan Counseling

As a recipient of funds from the Federal Direct 工作人员ord Loan Program, students are required to complete an exit loan counseling session within sixty (60) days of your last date of attendance at 菠菜网lol正规平台.

This counseling session covers the following federal student loan types:

  • 威廉D. Ford Federal Direct Loan Program (DL)
    • Direct Subsidized 贷款
    • Direct Unsubsidized 贷款
    • Direct 毕业生加 Loan
  • Federal Family 教育 Loan Program (FFELP)
    • Subsidized Federal 工作人员ord 贷款
    • Unsubsidized Federal 工作人员ord 贷款
    • Federal PLUS 贷款 (for graduate/professional students)

去 StudentAid.政府 to complete online exit loan counseling.

Loan Consolidation

Loan consolidation allows you to refinance any or all eligible outstanding federal student loans and create a single new loan with 一个 monthly payment. The new loan will have a fixed interest rate, new terms, and may have an extended repayment period of up to 30 years.

For more detailed information, go to the Loan Consolidation 网页.

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