Beginning with the 2010-2011 academic year, CSU Channel Islands will participate in the Federal Direct Student Loan Program. This means that if you borrow a federal Stafford or PLUS loan next year, your funding will come directly from the federal government instead of private lenders as in the past. By participating in the Direct Loan Program, we ensure that CI families will have access to a secure, dependable, and affordable source of funds to finance their educational costs.
CSU Channel Islands participates in the Direct Loan Subsidized, Unsubsidized, and PLUS federal student loan programs to give our students the full range of options available for paying for college. These federal loan programs offer a secure, government-regulated and reasonably affordable way to invest in yourself and your goal of a higher education.
Student Loans are financial obligations that must be repaid. While some loans are based on financial need, there are loan programs available to all federally-eligible students – regardless of income. Keep in mind that you should not borrow more than you need or can comfortably repay after leaving school. We recommend using the Loan Repayment Calculator on the Federal Student Aid website as a guide as to what your monthly payments will be once you enter repayment.
As a borrower, it is your responsibility to know how much you have borrowed, who is your lender, and how much you will be required to repay when you leave school. The National Student Loan Data System (requires PIN) will help you collect your federal loan borrowing history at all educational institutions.
If after exhausting all sources of federal funding you decide to borrow a private loan, ask questions and compare lenders to ensure you are making the best choice for you.
