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Student Loans
Cochise College Loan Policy
Cochise College does not automatically award student loans. Students must tell Financial Aid that he/she is wants student loans. The easiest way to do this is by checking the box on the FAFSA that is located next to “in addition to grants, are you interested in student loans (which you must pay back)?"
Loan Limits
Cochise College limits student loans to $24,000. This means that the total amount of loans that a student can receive at Cochise College is $24,000.
For transfer students, this includes all loan totals from all schools.
Once a student's total loans, from all schools, equals $24,000, he/she will no longer be eligible for student loans at Cochise College.
Students enrolled in high-cost programs, such as aviation and nursing, may be eligible for higher loan limits, on a case-by-case basis.
What do I need to do to get my student loan?
Make sure that you have checked the loan box on the FAFSA.
- You must complete a Cochise College financial aid orientation.
- You must be enrolled in at least six credit hours.
- Complete the online entrance counseling.
- You must choose a lender.
For more information about lenders that are currently in the Cochise College system, go to:
Cochise College Lender List - Complete the Stafford or Unsubsidized loan request form.
- When you receive the master promissory note from the guarantee agency, complete the form and return it promptly, to the lender.
Types of Loans
Subsidized Stafford Loans
- You must have unmet need.
- Interest is paid by the government.
- Payments are postponed while eligible for loans.
Unsubsidized Stafford Loans
- You have no unmet need.
- You are responsible for paying, or capitalizing, the interest while you are in school.
- Payments are postponed while in school and eligible for loans.
Interest Rates
The interest rate varies but is capped at 8.25 percent.
Fees
You may pay up to a 3 percent origination fee to the government and up to 1 percent insurance fee to the guaranty agency.
Repayment
Repayment begins following a six-month grace period after you graduate, withdraw from school, or drop below half-time enrollment.
Loan Counseling
Each student is required to do entrance loan counseling before receiving their loan. These may be done by accessing the entrance/exit counseling website. Go to:
Once you receive a Stafford Loan, you will be required to complete an exit interview before you leave school or fall below 6 credit hours.
First-Time Borrowers
If you are a first time student and a first time borrower, you will be required to attend class for 30 days before receiving your loan money. This is Department of Education policy and cannot be waived.
Multiple Disbursements
Your loan must be distributed in multiple disbursements. Generally, this means you will receive equal portions of your loan each semester, except if your loan is only one semester in length. If you have a one-semester loan, the loan generally will be split into two disbursements in that semester.
Enrollment
You must be enrolled in at least six credit hours before a check will be disbursed. You must maintain at least half-time enrollment throughout the loan period to receive the funds. You should be aware that if you enroll in fewer credits than you originally planned, your loan eligibility may be reduced. You also must maintain satisfactory progress toward your degree.
Maximum Annual Loan Amounts
Freshman (0-28 credits)
Dependent: subsidized $3,500 per school year
Independent: subsidized, $3,500 per school year; unsubsidized $4,000 per school year
Sophomore (29 or more credits)
Dependent: subsidized, $4,500 per school year
Independent: subsidized, $4,500 per school year; unsubsidized, $4,000 per school year
Maximum Aggregate Loan Amounts
Borrower’s academic level sub+unsub** at Cochise College = $24,000.
Contact
If you still have questions about student loans, you may contact financial aid at:
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