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Federal Direct Student Loans are provided through the U.S. Department of Education. The loans can only be taken out by the student, and the student is responsible for repaying them.
There are two main types of Direct Loans for students:
Subsidized loans are based on financial need. The federal government pays the interest while you are enrolled at least half-time (6 credits) and during your six-month grace period after you leave school or drop below half-time. When you are in repayment, the interest will begin to grow. Not everyone is eligible for Direct Subsidized Loans.
Unsubsidized loans are not based on financial need. Every eligible student will be offered a Direct Unsubsidized loan. Interest starts the day the loan is paid out and continues to grow until you pay off the loan.
You can pay the interest while you are in school or allow it to build up. When you drop below half-time or stop going to school, the unpaid interest gets added to your original loan balance. This is called capitalization. All future interest is calculated using the combined, higher amount.
If you are offered both types of loans, using the subsidized loan first can help reduce the amount of interest you pay.
Complete the FAFSA.
Submit the Free Application for Federal Student Aid (FAFSA) for the correct school year.
Review and accept your loan.
Once your financial aid has been awarded, sign in to myCCC. Select “Self Service” then “Financial Aid.” Review your loan offer and accept the amount you want to borrow. You may accept less than the amount offered.
Complete your Master Promissory Note.
Complete a Master Promissory Note (MPN) at StudentAid.gov. The MPN is your legal agreement with the U.S. Department of Education to repay your federal student loan. If you have been a student before and have gotten student loans in the past, you may not need to do the Master Promissory Note. MPNs are good for 10 years after you first fill them out.
Complete Loan Entrance Counseling.
Complete Loan Entrance Counseling at StudentAid.gov. It explains how your loan works, what borrowing costs, and your responsibilities as a borrower.
The amount you can borrow depends on your grade level, whether you are a dependent or independent student, your financial aid eligibility, and other aid you receive.
These are the maximum annual Direct Loan amounts for CCC students:
| Grade Level | Dependent Student | Independent Student |
| First Year - 0 to 29 credits | Up to $5,500 total. No more than $3,500 may be subsidized. | Up to $9,500 total. No more than $3,500 may be subsidized. |
| Second Year - 30+ credits | Up to $6,500 total. No more than $4,500 may be subsidized. | Up to $10,500 total. No more than $4,500 may be subsidized. |
Part of your loan may be subsidized depending on your financial need. Your actual loan may be lower based on your financial aid eligibility, other aid, previous borrowing, and enrollment.
Beginning with the 2026–27 award year, federal loan limits are reduced for students enrolled less than full-time.
You must still take at least 6 eligible credits to receive a Direct Loan, but students taking 6 to 11 credits may receive less than the full annual loan limit.
A Parent PLUS Loan is a federal loan that a parent may use to help pay education costs for a dependent undergraduate student. The parent is the borrower and is responsible for repaying the loan. Parents apply through StudentAid.gov using their own StudentAid.gov account.
Approval of this loan is dependent on your parent’s credit score. CCC generally receives the results of the required credit check within 5 to 7 business days. If a parent is denied because of their credit history, they may be able to apply with an endorser. An endorser is someone who agrees to repay the loan if the parent applicant does not.
The student may also contact CCC Financial Aid to ask whether they qualify for additional Direct Unsubsidized Loan funds.
For new Parent PLUS borrowing beginning July 1, 2026, parents may borrow up to:
Different rules may apply to parents who borrowed Parent PLUS Loans before July 1, 2026, while their student remains in the same program.
CCC releases student loan funds after your enrollment, attendance, and participation in your classes have been confirmed. Federal Direct Loans are generally released once you have reached three weeks of enrollment in at least 6 eligible credits.
If you are a first-time, first-year borrower, federal rules require CCC to wait at least 30 days after the first day of classes before releasing your first loan payment.
Visit Getting Your Aid for complete disbursement and refund information.
Student loans are paid in more than one disbursement, or payment.
If your loan covers Fall and Spring, it is generally divided between the two semesters. For example, if you borrow $2,000, you will get $1,000 in the Fall and $1,000 in the Spring.
If you borrow for only one semester, including Fall, Spring, or Summer, your loan is divided into two payments. One is paid near the beginning of the semester, and the other around the middle of the semester.
Private Loans are credit-based loans offered to students by banks and other lending institutions to cover the costs of attending college. These loans are typically requested by students who do NOT meet the requirements to borrow a Federal Direct Loan. They often have variable interest rates, which means that your interest rate can grow over time.
Most private loan interest rates will be significantly higher than Federal Direct Loans. Students who do not have a co-signer will likely need to be employed and will need to pass a credit check. Private loans do not always provide ways to pause payments and often have a shorter repayment term.
Before considering a private loan, you are encouraged to complete the Free Application for Federal Student Aid (FAFSA) to exhaust all eligibility for federal funds.
Coconino Community College does not participate in a preferred loan program with any lending institution, and does not endorse or recommend specific lenders. The college also does not guarantee a private student loan will be processed, as some of the lender requirements will not align with our internal policies and procedures.
A student loan can help fill a gap in your college costs, but every dollar you borrow must be repaid.
Before accepting a loan:
For detailed borrowing limits, enrollment reductions, interest rates, and fees:
Already borrowed?
Contact the Financial Aid Office if you have questions about your loan eligibility, loan requirements, or financial aid offer.
Phone: (928) 226-4219
Email: financial.aid@coconino.edu
No. You can decline the loan or accept less than the amount offered. Borrow only what you need.
Federal student loans generally require at least half-time enrollment. At CCC, that means at least 6 eligible credits.
If you are also taking approved courses at another college through a consortium agreement, contact CCC Financial Aid to find out how those credits affect your eligibility.
No. You cannot receive federal student loans from two schools for the same enrollment period.
A consortium agreement may allow approved credits at another school to count toward financial aid through your home school.
Generally, no. A Direct Loan MPN can remain valid for up to 10 years. If your current MPN is still valid, you do not need to complete another one.
Check your requirements in myCCC or contact Financial Aid if you are unsure.
Sign in to StudentAid.gov to review your federal loan balance, loan history, and loan servicer.
Yes. Once your loan has been paid out, payments are made through your federal loan servicer rather than CCC.
Contact your federal loan servicer as soon as possible. Depending on your loans and situation, you may have different repayment or temporary relief options.
CCC’s Inceptia partnership can also provide free help understanding your options.
