The amount you may borrow for a single academic year will vary due to the following

• the loan amount you request;

• Your years in school, based on the requirements of your chosen program of study at Cabrillo;

• Whether you are considered a DEPENDENT or an INDEPENDENT student for federal financial aid purposes;

• The length of time you will be in attendance, also known as your enrollment period, at Cabrillo during the academic year;

• Your cost of attendance;

• Your Student Aid Index (SAI);

• Other financial aid you will receive during the academic year;

• Your remaining eligibility under the annual or aggregate loan limits.

It is your responsibility to know what your total student loan debt is!

Complete an Annual Student Loan Acknowledgment for Federal Student Loans

We recommend you complete an Annual Student Loan Acknowledgment each year you accept a new federal student loan. Our goal is to help you understand your loans and how they affect your financial future.

If this is your first time accepting a federal student loan, you are acknowledging that you understand your responsibility to repay your loan.

If you have existing federal student loans, you are acknowledging that you understand how much you owe and how much more you are eligible to borrow.

You’ll also see other federal student aid information, including the interest rates and repayment options to make managing your student loans easier.

This can be complete through the Federal Student Aid Website, here

This is not a requirement for you to request a loan.

Loan fees are charged to originate a student loan and are calculated as a percentage of the total loan amount. The loan fees are deducted proportionately from each loan disbursement. The loan fee is subtracted directly from the loan before it is disbursed to you. This means you will receive a smaller loan than the total amount that you actually borrowed, but you will still be responsible for repaying the entire amount that you borrowed. You can learn more about loan fees at https://studentaid.gov/help-center/answers/article/what-are-loan-fees.

Aggregate limits are the maximum total outstanding loan debt. These aggregate limits include both Direct and Subsidized Loans and any subsidized and unsubsidized Federal Stafford Loans received through the Federal Family Education Loan (FFEL) Program. 

Dependent Students

$31,000 (maximum $23,000 subsidized) 

Independent Students

$57,500 (maximum $23,000 subsidized)

The recommended maximum aggregate loan debt for your entire time at Cabrillo College is $17,000. Plan accordingly. 

Students attending Cabrillo College for one term ONLY are subject to prorated loan amounts. This calculation is the number of units enrolled in divided by 24 and multiplied by grade level loan amounts.

The maximum amount you can borrow each year in Direct and unsubsidized Loans depends on your grade level and on whether you are a dependent or independent student.

The maximum amount you can borrow each year in Direct and unsubsidized Loans depends on your grade level and on whether you are a dependent or independent student.

Student must have a one of the following SAP statuses, in order to be considered for a loan.

• Satisfactory

• Warning

• Probation

For more information on the SAP policy and appeal process click here

For information about finding your SAP status please look at the document here

BACHELOR'S/MASTER STUDENTS:

If you are interested in a student loan, you must:

• Be enrolled in an eligible program

• Complete a MaxTime SAP appeal through MyVerify. You will need to explain why you need additional time at Cabrillo. Be sure to attach a copy of your comprehensive education plan. Loan funding will be restricted to the units on your Comprehensive Educational Plan.

You can request a SAP appeal by contacting your Financial Aid Advisor, they are assigned by the first letter of your last name.

Bachelor students taking preparatory courses necessary for their enrollment in an eligible program at another institution are only eligible for loans for a period of up to one year.

• Submit a FAFSA for the current school year and select Cabrillo College as a school of interest.

• If chosen for verification, you must submit all requested documents through MyVerify.

• After the review of your FAFSA application and verification document, you will receive a "Final Review Done" email.

All loan students are required to create and follow a Comprehensive Educational Plan developed and archived by a Cabrillo College Academic Counselor.

Your Educational Plan should extend until your date of program completion, graduation, or transfer. Be clear with your counselor about what you need. If you have attended other colleges, arrange to have official transcripts sent to Cabrillo Admissions and Records. Official transcripts from previously attended colleges need to be on file before you schedule an appointment with a counselor.

Submit a Student Correspondence form located in eForms to notify Financial Aid that your Educational Plan has been archived by your Academic Counselor.

Units from late starting or short-term classes will not be counted until you start attending the class.

Note: Remedial classes are not degree applicable and the Financial Aid Repeat policy will affect which courses are counted.

Financial Aid Repeat Policy

Federal regulation limits the number of times a student may get paid financial aid for courses being repeated. The regulation states that undergraduate students may only receive federal financial aid funding for one repeat of a previously passed course. If a student fails the second attempt no more financial aid will be given to repeat the course a third time.

Note: All repeated courses do affect SAP calculations. A repeated course, along with the original attempts, must be counted as attempted units whether or not you have been paid for them.

Financial Aid is required to monitor repeat classes for all periods of enrollment.

Please note that there is a separate State Repeat Policy for Admissions.

Cabrillo College requires that students complete Entrance Counseling EVERY school year that a Direct Loan is requested. We will consider Entrance Counseling completed between May 1, 2024-April 18, 2025 for the 2024-2025 school year.

The Entrance Counseling can be completed online through the Federal Student Aid website located here

• Click on "Log In" and utilize your FSA ID to log in.

• Hover over the "Loans and Grants" tab at the top and select "Loan Entrance Counseling".

You should receive a confirmation email from Cabrillo College within a week of completing your Entrance Counseling.

Entrance Counseling completions will be downloaded on Tuesdays and Thursdays until the loan deadline in Spring.

Cabrillo College requires that students complete a MPN EVERY school year that a Direct Loan is requested. We will consider MPN's completed between May 1, 2024-April 18, 2025 for the 2024-2025 school year.

The MPN can be complete online through the Federal Student Aid website located here

• Click on "Log In" and utilize your FSA ID to log in.

• Hover over the "Loans and Grants" tab at the top and select "Master Promissory Note (MPN)"

You should receive a confirmation email from Cabrillo College within a week of completing your MPN.

MPNs completions will be downloaded on Tuesdays and Thursdays until the loan deadline in Spring.

Note:

Follow the directions carefully. You will need two references (people we can contact in case you are unreachable) to complete the MPN. Your FSA ID acts as your electronic signature and your promise to repay the loan. After you complete your MPN and submit it to ED, you will be able to print a copy for your records.

Students are required to complete the Direct Loan Request Form accessed through your Etrieve/eforms library.

• You will NOT be able to submit the Direct Loan Request form until steps 1 through 6 are completed.

• Allow 4-6 weeks after you submit your loan forms to receive your loan funds.

Note: Only one request is accepted per school year. If you are attending Fall and Spring you must request the full year loan amount. You will NOT be able to request additional funds in the Spring. Plan ahead. If your grade level changes mid year and you have already received a loan for the school year, you may be eligible to request additional subsidized loan funds. To do so, submit a Student Correspondence request.

Computer Cost Printout - OPTIONAL

• Student must submit an itemized estimate from vendor or receipt at the same time you submit your Loan request. This results in a budget adjustment in case you are not eligible for the full loan amount you requested.

• Any additional personal computer budget adjustments at Cabrillo College will be made on a case-by-case basis.

• Submit printout by email to financial.aid@cabrillo.edu. Make sure you indicate that it is for your student loan budget adjustment.

Academic Progress Report - ONLY IF REQUESTED

• If your SAP status is in Warning or Probation status, a progress report may be requested. This form will be used to determine eligibility for loan funds.

• This form will only be available and accepted after the 4th week of the term.

• Loan funds are disbursed in two disbursements for both full year and one term loans.

-Full year loans are disbursed, once during the Fall term and again the second during the Spring term.

-One term loans second disbursements will be after you have completed half of the term.

• Subsidized and Unsubsidized funds may come together in one disbursement.

• Any outstanding charges owed to the college will be deducted from your loan.

• By law, a loan fee will be subtracted from each loan you receive. This fee will be subtracted proportionally from each disbursement of your loan. The loan fee will be on your loan disclosure statement emailed to you by the Department of Education.

• To view Disclosure statement https://studentaid.gov/

-Log in

-Click on you name on the top right

-Select Documents

-Once you are in MY DOCUMENTS tab at the bottom of the page, you will see Disclosure Statements.

• If you want to decrease or cancel your loan, please notify the Financial Aid Office by completing a Student Correspondence on eforms or by sending an email to financial.aid@cabrillo.edu

• Keep your address current. You can verify/update your address on MyCabrillo Self-service.

• If you do not maintain Satisfactory Academic Progress or if you drop below 6 degree applicable units, you will not be eligible to receive your disbursement and your loan will be canceled.

• If your SAP status is Probation or Warning, you may be required to submit a Progress Report from all your Instructors to determine eligibility for loan funds. For more information about your SAP status view our SAP page.

• You must be enrolled in and attending 6 degree applicable units towards your major or the loan will be canceled. Classes enrolled in but are repeats per the Financial Aid Repeat policy will not be counted.

-Remedial units are not degree applicable and cannot be counted (i.e. ESL, 200 level courses).

-Units from late starting or short-term classes will not be counted unless you are currently attending the class.

Loans are not disbursed until after the 5th week of the term and take 4-6 weeks after the loan request

• Complete online through Student Aid website located here

• Click on Log In and utilize your FSA ID to log in.

• Individualized instructions are included with each step, so read carefully before moving on to the next step

• You will need two references to complete the Exit Counseling

• We will receive notice of the completed Exit Counseling electronically from the US Department of Education

Loan Exit Counseling is REQUIRED:

• If you drop below half-time enrollment (6.0 units)

• Within 30 days PRIOR to graduating or leaving Cabrillo

30 Days Periods for Exit or Graduation

Fall 2024: 11/15/24-12/14/24

Spring 2025: 05/01/25-05/31/25