• Loans

    (Subsidized and Unsubsidized)

    Students who are enrolled at least half-time may apply. Students must be citizens or eligible non-citizens of the U.S. HCCC students must maintain a GPA of 2.0 for continued eligibility. Loan amounts are $3,500.00 for first-year undergraduate students and $4,500.00 for second-year undergraduate students, depending upon financial need. The interest rate is 6.8% and will be paid by the federal government until six months after graduation, withdrawal from school or a drop in credit load below six credit hours, at which time the student must begin to repay the loan with interest. Unsubsidized Federal Direct Loan is available and students are responsible for payment of interest while in school and during the six-month grace period. The interest rate is variable. Students must submit, in addition to the FAFSA, a separate loan application. Loans are renewable annually based upon satisfactory academic progress and continued eligibility. The Federal Perkins Loan is not available at HCCC.

    Parent eligibility requirements for a Direct PLUS Loan

    You must be the student's biological or adoptive parent or the student's stepparent, if the biological or adoptive parent has remarried at the time of application. Your child must be a dependent student who is enrolled at least half-time at a school that participates in the Direct Loan Program. For financial aid purposes, a student is considered "dependent" if he or she is under 24, unmarried, and has no legal dependents at the time the Free Application for Federal Student Aid is submitted. (Exceptions are made for veterans, wards of court, and other special circumstances.) If a student is considered dependent, then the income and the assets of the parent have to be reported on the FAFSA.

    Additional requirements to receive a PLUS loan

    Parent PLUS loan borrowers cannot have an adverse credit history (a credit check will be done). In addition, parents and their dependent child must be U.S. citizens or eligible noncitizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the Federal Student Aid programs.