Loans

Loans are funds that must be repaid. Students should only borrow the amount that is absolutely necessary.

It is a good idea to project what your total borrowing needs will be throughout your college career, and to be aware of what the necessary payments will be upon earning a degree.

The amount of the loan is determined by:

1. Cost of attendance
2. Loan eligibility
3. Year in school
4. Other aid already awarded

Types of Loans

There are many types of loans available for students at San Jose State University, including:

Undergraduate Loans

• Federal Direct Stafford Loans (Subsidized and Unsubsidized)
• California Dream Loans

Graduate/Parent/Professional Loans

• Federal Direct Stafford Loans (Unsubsidized)
• Federal Direct PLUS Loans

Other Loans

• Alternative Loans (Private Lenders)
• Short-Term Loans: Short-Term (Emergency) loans are available through the Bursar's Office. To be eligible you must have no outstanding debts to the university and must have sufficient financial aid or be gainfully employed. Contact the Bursar's Office for more information.

Information about Loans

Steps to Accepting Loans

1. Students accept loans in their MySJSU - Instructions to Accepting a Federal Direct Stafford Loan. [pdf]
2. First time student loan borrowers at SJSU, must complete the on-line Entrance Loan Counseling session prior to receiving their first loan disbursement. Entrance Loan Counseling is an online session which addresses interest rates, deferments, and how to avoid default. There are no exceptions to this federal requirement. Make sure San José State is selected as your school when completing Entrance Loan Counseling.
3. Students must eSign the Master Promissory Note prior to receiving a loan disbursement (must be signed every 10 years). The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department of Education.

Deadlines

• Fall 2024/Spring 2025 deadlines to accept loans:
  • December 6, 2024 for students attending Fall 2024 only
  • April 25, 2025 for Academic Year loan(s), or Spring 2025 only

  General Info

  • Most loans are available for fall and spring semesters.
  • Summer loans are evaluated on a case-by-case basis. Students must be enrolled at least half time to qualify. Visit the Summer Financial Aid web page for more information.
  • Students must maintain updated information with the U.S. Department of Education Direct Loan Servicing Center. Report the following changes, if any:
    • Name, address or phone number change
    • Transferring to another school
    • Leave of absence, withdrawal from school, or dropping below half-time enrollment
    • New graduation date

    Exit Loan Counseling

    As a recipient of funds from the Federal Direct Stafford Loan Program, students are required to complete an exit loan counseling session within sixty (60) days of your last date of attendance at SJSU.

    This counseling session covers the following federal student loan types:

    • William D. Ford Federal Direct Loan Program (DL)
      • Direct Subsidized Loans
      • Direct Unsubsidized Loans
      • Direct Grad PLUS Loan

      Go to StudentAid.gov to complete online exit loan counseling.

      Federal student loan debt relief

      The Biden administration has announced many new debt relief options.

      Loan Consolidation

      Loan consolidation allows you to refinance any or all eligible outstanding federal student loans and create a single new loan with one monthly payment. The new loan will have a fixed interest rate, new terms, and may have an extended repayment period of up to 30 years.

      For more detailed information, go to the Loan Consolidation web page.

      Links to More Information

      • Interest rates
      • Enrollment requirements
      • Origination fees
      • Maximum annual loan and aggregate amounts

      Financial Aid & Scholarships Office (FASO)

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