Sauk Valley Community College

an institution of higher education that provides quality learning opportunities to meet the diverse needs of its students and community

Student Loans

Student Loans

Sometimes grants, scholarships and other financial assistance is just not enough. Student loans provide the opportunity to have additional funds available to the student while in school. You must be in good standing with the Standard of Academic Progress to be eligible for a loan at SVCC. If you are in denial or probation you are not eiligible for a loan unless an appeal has been submitted and approved. Click below to find out more information about student loans.

Types of Direct Loans Offered at SVCC

The following are made through the Federal Direct Loan Program, which is administered by the U.S. Department of Education:

▶ Direct Subsidized Loans

Are for students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, during the grace period and during deferment periods.

▶ Direct Unsubsidized Loans

Are not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.

▶ Direct PLUS Loans

Are unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.

Alternative/Private Loans are loans that are processed with a lender of your choosing. Once you have selected a lender please notify the Office of Financial Assistance of your pending loan.

 

Loan Process - Information on loans, the process and regulations

Loan Process Flowchart - Flowchart showing how loans are processed

Student Loan Code of Conduct - Code of Conduct regarding student loans, SVCC and lenders

Direct Loans (for students) - Apply for your Direct Loan here

        Should I Pay Interest Now or Later? - Before you sign your MPN read this!

Direct PLUS Loans (for parents) - Parents apply for your Direct PLUS Loan here

Alternative Loans - Information on Alternative/Private loans and policy