Loan Information
Students are encouraged to exhaust all other resources to help with educational expenses before considering an educational loan. There are three types of loans offered at Clearwater Christian College.
1. Financially speaking, as far as interest rates go, the best option is the Federal Stafford Loan. The Stafford loan is a low-interest loan that does not require payment until six months after a student graduates, drops below half time, or withdraws. Through completing the FAFSA, students qualify for either a subsidized (best option) or unsubsidized loan depending on need and other eligibility requirements. Both loans are automatically guaranteed and there are limits to the amount that can be borrowed each year. For freshmen, the maximum amount one can borrow through either option is $3,500, $4,500 for sophomores and $5,500 for juniors and seniors. Independent students and dependent students whose parents are unable to borrow the PLUS loan are eligible for an additional unsubsidized loan: up to $4,000 for freshman and sophomores. $5,000 for juniors and seniors. In addition to the above, all students are eligible for an additional $2,000 unsubsidized Stafford loan upon request.
2. The second best option for a loan is the PLUS Loan. This is a loan that is in the parent's name, but the money pays for the student's education. Parents may borrow up to the cost to attend minus any other aid received. Repayment starts two months after the second disbursement on the loan, but check with the lender for benefits. The maximum loan amount is dependent on outstanding need.
3. The third option is called an alternative loan or private student loan. Since this loan is in the student's name and goes through a credit check, a co-signer is encouraged. A student may borrow up to the cost to attend minus any other aid received. A payment is not required until the student graduates, drops below half-time, or withdraws, but it would be financially wise to pay at least the interest payments while in school. The maximum loan amount is dependent on outstanding need.
Concerned with the long-range impact of a student loan in the future? Check out the Loan Payment Calculator and estimate what your monthly loan payments might be.
|  | Michael, a Music Education major from Seminole, FL, is active in the CCC orchestra and brass ensemble. He receives a CCC Music Scholarship, the 100% Bright Futures, and several institutional scholarships in addition to federal awards. After graduation, he plans to teach band at a Christian high school and become involved in a youth and music ministry at a local church. more...
"The fact that my school is entirely paid for by financial aid is a huge reason why I believe God wanted me to transfer from USF to CCC. I asked God to provide money for me if He wanted me to transfer, and He provided all I needed."
| | Fall | Spring | Total | | Bright Futures Florida Academic | 1,890 | 1,890 | 3,780 | | FRAG | 1,265 | 1,264 | 2,529 | | Academic Scholarship | 1,375 | 1,375 | 2,750 | | Christian Worker Scholarship | 750 | 750 | 1,500 | | Music Scholarship | 1,500 | 1,500 | 3,000 | | John Calvin Scholarship | 500 | 500 | 1,000 | | Total Awards | 7,280 | 7,279 | 14,559 |
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