Loans

Loans are borrowed money that you will have to repay with interest. Subsidized and Unsubsidized Federal Stafford Loans are the most common source of student loan funds however, there are other source of funds. | Lenders

Loan Limits

As part of ACC’s default preventive measures, the following loan limits have been established:

• Freshmen student - $15,000 (cumulative subsidized and unsubsidized loans)
• Sophomore student - $24,000 (cumulative subsidized and unsubsidized loans

Students exceeding these limits must submit a Student Loan Appeal Form to be considered for additional loan borrowing.

• Subsidized Stafford Loan
• Unsubsidized Stafford Loan
• Federal PLUS Loan
• College Access Loan
• Texas B-On-Time
• Alternative Loans/ Private Education Loans

If you have been awarded a loan you must activate your loans at Loans by Web in order to receive the funds.
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Subsidized Stafford Loan

A low-interest, need-based, federally subsidized loan for students registered at least half-time. The federal government assumes responsibility for interest payments while you are in school. These loans have federal limits and may not exceed the cost of attendance minus expected family contribution and any other financial aid or resources. Stafford Loan limits are $3,500 for freshmen and $4,500 for sophomores.

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Unsubsidized Stafford Loan

Offers the same terms, conditions, and interest rates as the Federal Stafford Loan program, except that you assume responsibility for payment of the accrued interest while in school and during the loan period. This loan program is available to students who do not qualify, or qualify only in part, for a Subsidized Stafford Loan. Independent students are eligible for amounts equal to the Stafford Loan limits up to $4,000 per academic year for freshmen and sophomores. Unsubsidized loans are limited to once at each grade level.

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Federal PLUS Loan (Parent Loan for Undergraduate Students)

Established for parents of undergraduate dependent students. As the other federal financial aid programs carry more favorable terms, students are encouraged to apply for and be considered for all other student grants and loans first. Parent borrowers must undergo a credit check by the lender and have no adverse credit history before a Federal PLUS loan can be processed. Parents can get started at Loans by Web.

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College Access Loan

You must be a Texas resident in good academic standing to qualify for a College Access Loan. You do not need to demonstrate financial need, but a loan cosigner may be required.

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Texas B-On-Time

Priority will be given to students who are Texas Grant eligible but not receiving a Texas Grant.

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Alternative Loans/ Private Education Loans

Private loans are offered by private lenders and tend to cost more than the education loans offered by the federal government. Students applying for alternative loans at Austin Community College must meet the following conditions before their loan can be processed:

• Have a Free Application for Federal Student Aid (FAFSA)
• Be meeting the Financial Aid Satisfactory Academic Progress requirements
• Be enrolled at least half time (six hours) for the loan period
• Apply for a Federal Stafford loan before an Alternative/Private Loan can be processed
• ACC’s aggregate loan limits of $15,000 for freshmen and $24,000 for a sophomore apply to students applying for alternative loans.

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