A loan is a form of financial aid which must be repaid. The terms for repayment are specified in the promissory note that the recipient signs prior to receipt of the first loan disbursement. Before signing the promissory note, students should thoroughly understand all their rights and responsibilities concerning any loan received.
There are many different types of loans that you should familiarize yourself with before deciding which type it right for you. Below is a brief description of each. To find out more, use the navigation links on the left hand side to find out more.
Plus Loans Federal Parent Loan for Undergraduate Students (PLUS)
A low-cost student loan offered to parents of an undergraduate student. With a PLUS Loan, the parent borrows money on the student's behalf. To be eligible for a PLUS Loan, a student must be enrolled at least half-time, and the parent has to pass a standard credit check. Parents may borrow up to the difference between education costs and financial aid received. Repayment begins two months after the loan proceeds are disbursed and must be repaid within ten years. The student is required to complete a FAFSA to determine other Federal Aid eligibility (including Subsidized and Unsubsidized loan) before the parent can apply for the PLUS loan.
Plus Loans for Graduate / Professional Students
Effective July 1, 2006, Graduate or professional students are now eligible to borrow under the PLUS Loan Program. PLUS loan applicants are required to complete a FAFSA on a yearly basis to determine other Federal Aid eligibility and must have applied for their annual loan maximum eligibility under the Stafford (Subsidized and Unsubsidized) loan program(s) before applying for the Graduate/Professional PLUS Loan.
Federal Subsidized Direct Loans
The Federal Subsidized Direct Loan is a long-term loan made by the Federal Government. The loans are guaranteed by the U.S. Department of Education or other guarantee agencies.
The federal government pays the interest on the loan while the borrower is in school. Six months after at least half-time enrollment ends, repayment of the loan begins.
Federal Unsubsidized Direct Loan Program
The terms and conditions of the loan are the same as the subsidized program, except the borrower must pay the interest while attending college. Students may borrow the difference between Expected Cost of Attendance and "reasonable available financial assistance" up to the maximum available loan limits.
Repayment of principal and interest begins six months after the borrower ceases to be at least a half-time student. Interest accruing during in-school, grace period and deferments may be paid or capitalized as agreed by the borrower. A loan fee of up to 4% will be deducted from the loan before it is disbursed.
From time to time, students find themselves in need of additional loan funds in order to meet their cost of attendance. In addition to the Federal Stafford Loan program(s), the Office of Financial Aid and Scholarships makes available loan information for various credit-based loans offered by lenders to students attending California State University San Bernardino. Students with remaining unmet need and who meet the lenders’ eligibility requirements may be eligible to borrow additional loan funds.
Terms and conditions vary between loan products and may vary when borrowing with a cosigner. Students and cosigners are encouraged to research each loan program carefully, taking into consideration all terms to the loan, before making a decision to borrow.
Assumption Program of Loans for Education (APLE)
The Assumption Program of Loans for Education is a competitive teacher incentive program designed to encourage students to become teachers and serve in either a critical teacher shortage area or in schools that meet specific criteria. Up to between $11,000 and $19,000 in outstanding educational loan balances can be paid by the California Student Aid Commission in return for four consecutive years of teaching in a teacher shortage area.
Graduate APLE Loan Assumption Program (GRAD APLE)
The California Student Aid Commission (CSAC) has assisted California in its commitment to the education of all its citizens through the implementation and management of numerous educational funding programs including the Assumption program of Loans for Education (APLE). Under the provisions of the APLE program, the Commission may assume up to $11,000 in outstanding educational loan balances in return for the participant's service as a public school teacher in California in either designated subject-shortage area (math, science, reading specialist, bilingual education or special education) or schools that service large populations of students from low-income families.
Federal Perkins Loans
The Federal Perkins Loan is a long-term loan. Undergraduates, credential students, and classified graduates maintaining at least half-time status and demonstrating exceptional financial aid need may apply for this loan. Students will be considered for the Federal Perkins Loan by submitting the Free Application and indicating a desire for a loan.
California State University, San Bernardino is the lender. The loan is made with funds provided by the federal government with a share contributed by the institution. You must repay this loan to California State University, San Bernardino. Please note: Absent Congressional action, the authority of schools to disburse Federal Perkins Loans will end on September 30, 2017.
The California Dream Loan is a subsidized loan program for undergraduate students with a valid California Dream Act application and a valid AB540 affidavit on file with their University.
The purpose of the California DREAM Loan Program is to ensure that students who meet AB-540 criteria and DREAM Loan eligibility requirements have access to additional forms of funding to help them afford a public higher education.
CSUSB Emergency Loan
Through the generosity of the Associated Students, Alumni Association and the Foundation at CSUSB, students may borrow up to 100% of tuition costs. The Bailey emergency loan, which is available for other non-tuition expenses, is available for up to $600.
Emergency loans are available throughout the school year. Repayment of the loan is due by the last lecture day of each quarter. Any student who has completed the registration process at CSUSB and has at least a 2.5 GPA may apply. You must apply online, Students Accounts-Emergency Loan site.
M. Jeanne Hogenson International Student Loan Program
The Associated Students of CSUSB established the International Student Loan Fund so that international students may borrow a maximum of $500 in short-term emergency loans. Any enrolled international student with an F-1 visa is eligible. A letter of recommendation must be obtained from the Director of International Student Services. Repayment arrangements are made through the CSUSB Office of Financial Aid and Scholarships where applications for the loans are available
Code of Conduct
The Higher Education Act of August 14, 2008, includes provisions that campuses participating in Title IV programs publishes a code of conduct which describes prohibited practices in loan programs. As a campus in the California State University system, Cal State San Bernardino adheres to the Student Loan – Code of Conduct as described within the CSU. See the CSU Code of Conduct for more information.