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Federal Student Loans
When you apply for financial aid, you may be offered loans as part of your financial aid offer. A loan is money you borrow and must pay back with interest.
If you decide to borrow a loan, make sure you understand who the lender is and the terms and conditions of the loan. Student loans can come from the federal government or from private sources such as a bank or financial institution. Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources. Learn more about the differences between federal and private student loans.
Federal Direct Loan Program
California State University, Bakersfield participates in the William D. Ford Federal Direct Loan Program. Your Federal Stafford (Subsidized and Unsubsidized) and PLUS (Parent PLUS) loans are processed directly through the U.S. Department of Education. Loans are funds that you must repay. The Federal Loan programs offer a government-regulated and reasonably affordable way to invest in yourself. Your loan information will be submitted to the National Student Loan Data System (NSLDS) for accessibility to schools, lenders, and guarantors for specific purposes as authorized by the U.S. Department of Education.
There are limits on the amount in subsidized and unsubsidized loans that you may be eligible to receive each academic year and the total amounts you may borrow as an undergraduate or graduate grade level. For details on both loan limits, please visit the Federal Student Aid Loan Information.
If you are accepting the loan offer, you will be borrowing money from the U.S. Department of Education and agreeing to repay it under certain terms and conditions.
- You must accept your loan offer at your myCSUB account.
- You must electronically complete and sign your Master Promissory Note (MPN). To electronically complete your MPN, visit the Direct Loan website (www.studentloans.gov). This is the legal document for your loans and is required before your loan(s) can be processed.
- If you are a FIRST-time borrower of the Direct Loan Program, you must complete the Direct Loan Entrance Counseling. You may complete entrance counseling online at www.studentloans.gov.
For steps to completing Entrance Counseling and the Master Promissory Note please refer to the Direct Loan Sheet.
To receive a loan you must be ENROLLED (not wait-listed) at least half-time at CSUB. To keep your loan, you must STAY enrolled in half-time status each semester. Half-time for undergraduates, credential students, students working on a 2nd baccalaureate degree, and post-baccalaureate unclassified students is defined as 6 units. Half-time for graduate professional and doctorate students is 4 units.
To apply for a Federal Direct PLUS Loan at CSUB, the student must complete a FAFSA and submit parental information. The following steps must be completed by the parent.
- The parent must complete the Direct Plus Loan Addendum form and submit it to the Office of Financial Aid & Scholarships.
- The parent must electronically complete and sign a Master Promissory Note (MPN). To electronically complete the MPN, visit the Direct Loan website (www.studentloans.gov). This is a legal document for the loan and is required before the loan can be processed.
Direct Loan Repayment
The Federal Direct Loan Program provides you with delayed repayment while you are in-school and flexible repayment options for when you enter into repayment. After you graduate, leave school, or drop below half-time enrollment, your loans enter into repayment. At the time of entering repayment you must complete Loan Exit Counseling, which informs you of your rights, responsibilities, and terms of your repayment of you loan. You can estimate potential monthly loan payment that is best suited to your financial situation by referring to the Federal Student Aid Calculator.
Code of Conduct
The CSUB Office of Financial Aid & Scholarships does not provide concessions or promises to lenders for a specific number of Private Loans, a specified loan volume, or a preferred lender arrangement in exchange for private loan funds to students.
Officers, employees, and agents of CSUB do not accept gifts from lenders, guaranty agencies, or loan servicers. The Office of Financial Aid & Scholarships staff does not accept compensation for any type of consulting arrangements or contract to provide services to or on behalf of a lender relating to education loans. The Office of Financial Aid & Scholarships staff does not receive compensation for serving on an advisory board, commission, or group established by lenders or guarantors, except for reimbursement of reasonable expenses. The Office of Financial Aid & Scholarships staff does not accept commissions, bonuses, or incentive pay.
Office of Financial Aid and Scholarships
9001 Stockdale Highway
Bakersfield, CA 93311-1022
Phone: (661) 654-3016
Fax: (661) 654-6800
Federal School Code: 007993
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