Financial Aid General Info
finaid@gatewaycc.edu
Chat: gatewaycc.edu/Chat
Phone: (602) 286-8300
Fax: (602) 286-8072
Check your awards online:
Spring & Fall
Monday - Thursday
8:00am - 7:00pm
Friday
8:00am to 5:00pm
Saturday - Sunday
CLOSED
Summer
Monday - Thursday
8:00am - 7:00pm
Friday - Sunday
CLOSED
Enrollment Services
Pay for College
Academic Resources
Support Services
Campus Resources
Life @ GateWay
Youth Programs
Share/Bookmark
Financial Aid & Scholarships
Manage Your Loans
The resources below provide additional information about managing student loans:
Federal Direct Stafford Loans
All subsidized and unsubsidized Stafford loans are processed by the Department of
Education's William D. Ford Federal Direct Loan Program. Federal Stafford Loans are
fixed-rate loans for students who are attending college at least half-time (6 credit hours).
The Federal Direct Subsidized Loan is a need based loan. Need is determined by a student's
Estimated Family Contribution (EFC), and is calculated based on the information in the student's
FAFSA.
Full eligibility for loan monies is offered to GateWay Community College students upon awarding.
It is the student's responsibility to accept all or a portion of the loan amount desired. For all
first time loan borrowers there is a mandatory 30-day delay for receiving funds which begins at the
beginning of every semester. For students who will be attending one semester only in the academic
year (Fall/Spring), the loan check will be disbursed in two equal disbursements with the second
disbursement disbursed to the student's account midway through the semester.
Subsidized Stafford Loans - A federally financed student loan made to students meeting eligibility
requirements. The federal government does not charge interest on these loans while the borrowers are
enrolled at least half time, during the grace period, or during authorized periods of deferment.
Eligibility for a subsidized loan is based on need.
Unsubsidized Stafford Loans - A federally financed student loan made to students meeting eligibility
requirements. Students need not demonstrate financial need. Interest is charged throughout the life of
the loan. The borrower may choose to repay the interest charged on the loan while in school, or allow
the interest to be capitalized and pay the interest, along with their loan payments, when the loan
enters repayment.
Annual and Aggregate Loan Limits
| Year |
Dependent Undergraduate Student (except students whose parents are unable to obtain PLUS Loans) |
Independent Undergraduate Student (and dependent students whose parents are unable to obtain PLUS Loans) |
|
First Year |
$5,500 - No more than $3,500 of this amount may be in subsidized |
$9,500 - No more than $3,500 of this amount may be in subsidized loans. |
| Second
Year |
$6,500 - No more than $4,500 of this amount may be in subsidized |
$10,500 - No more than $4,500 of this amount may be in subsidized loans. |
| Maximum Total Debt from Stafford Loans When You Graduate (aggregate loan limits) |
$31,000 - No more than $23,000 of this amount may be in subsidized loans. |
$57,500 - No more than $23,000 of this amount may be in subsidized loans. |
Fixed Rates for Loans First Disbursed on or after July 1, 2006
| Loan Type |
Grade Level |
First Disbursed Between July 1, 2009 and June 30, 2010 |
First Disbursed Between July 1, 2010 and June 30, 2011 |
|
Subsidized Loans |
Undergraduate |
5.60 |
4.50 |
| Graduate |
6.80 |
6.80 |
| Unsubsidized Loans |
Undergraduate |
6.80 |
6.80 |
| Graduate |
6.80 |
6.80 |
