Casper College - High School - Paying for College - Financial Aid

Thinking about a student loan?

What you must know before you start the loan process:

You must complete the current year’s Free Application for Federal Student Aid (FAFSA), you will need to complete the FAFSA before your loan eligibility can be determined.
You must be admitted in a degree-seeking program and enrolled in at least 6 credit hours, (this includes summer semester, as well).
Your Award Notice may contain an estimated amount of Stafford Loan eligibility. Borrowing less than the amount listed on the Award Notice is encouraged. As you review your Award Notice, we encourage you to consider the questions below and complete the budget worksheet below:
1. Do I need to accept all of the financial aid I have been offered?
2. Are there areas where I can reduce my expenses?
3. Do I need to work over the summer and save money to help with school expenses?
4. Do I need to get a job during the academic year?
5. How much loan DEBT do I currently have?
All loans will be disbursed in two disbursements. You may be eligible for a subsidized loan (interest does not accrue while you are in school), an unsubsidized loan (interest accrues while you are in school, students can elect to pay interest while in school – contact your lender for details) or a combination of the two.
For first time students, first year borrower’s regulations require the 1st loan disbursement to be delayed 30 days from the beginning of classes.

Annual and Aggregate Loan Limits** Rates effective July1, 2008
Grade Level*	Dependent Undergraduate Students	Independent Undergraduate Student
Freshman: 1-29 hours	$5,500 –No more than $3,500 of this amount may be in subsidized loans.	$9,500 –No more than $3,500 of this amount may be in subsidized loans.
Sophomore: 30-64+ Hours	$6,500 –No more than $4,500 of this amount may be in subsidized loans.	$10,500 –No more than $4,500 of this amount may be in subsidized loans.
• Maximum/Aggregate Total Debt from Stafford Loans	$31,000 –No more than $23,000 of this amount may be in subsidized loans.	$57,500 –No more than $23,000 of this amount may be in subsidized loans.

* Your grade Level is determined by the amount of hours you have earned, not the amount of hours you have attempted. ** The limit may be composed of just a subsidized Stafford Loan or just an Unsubsidized Stafford Loan or a combination of both. This is determined by your FAFSA EFC.

To Apply:

Borrow sparingly; your future will be glad you do.
Go to the App Express web site.
It will determine if you need to complete an Entrance Loan Counseling, sending you to Mapping Your Future. Then it will return to App Express for you to complete/review the Master Promissory Note (MPN) and loan request form.
Once the above is completed your information is submitted electronically to the Student Financial Assistance Office for further processing.