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. This loan is automatically guaranteed, but there are limits to the amount that can be borrowed each year. The maximum loan amount is $3,500 for freshmen, $4,500 for sophomores and $5,500 for juniors and seniors. Dependent students whose parents are unable to borrow the PLUS loan are eligible for an additional unsubsidized loan. $6,000 for freshman and sophomores. $7,000 for juniors and seniors. Independent students (according to FAFSA) are eligible for both subsidized and unsubsidized.
Apply for a Stafford Loan
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.
Apply for a PLUS Loan
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.
Apply for an alternative loan
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.
|  | Drew is a career Army Cadet who plans to serve 20 years in the military and then get involved in medical missions. A senior general studies major from Chicago, Illionis, he chose Clearwater for the accreditation and for the ROTC Scholarship he receives. more...
"I am receiving full tuition paid by the Army in exchange for 8 years in the service. I am sworn to serve four active and four reserve years, but my desire is to serve 20 years and then do self-funded medical missions work."
Drew stays busy outside of his classes with his PT (ROTC personal training) and working as a security guard on campus. To keep his ROTC scholarship, Drew has to pass regular physical fitness tests and maintain a minimum 2.5 GPA.
| | Fall | Spring | Total | | Pell Grant | 1,280 | 1,280 | 2,560 | | FSEOG | 250 | 250 | 500 | | FSAG | 0 | 500 | 500 | | FRAG | 0 | 1,500 | 1,500 | | ROTC/CCC | 1,000 | 1,000 | 2,000 | | Multiple Family Discount | 250 | 250 | 500 | | ROTC | 6,440 | 6,290 | 12,730 | | Total | 9,220 | 11,070 | 20,290 |
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