Cazenovia College participates in the William D. Ford Direct Loan Program. This means that a student will borrow his or her Stafford loan funds directly from the Department of Education.
A free application for Federal Student Aid (FAFSA) must be filed in order for a student to receive loan funds from the Federal Direct Loan Program. Eligible students will receive a Financial Aid Award letter indicating loan amounts and instructions on how to apply.
An undergraduate student may borrow up to $5,500 as a freshman, $6,500 as a sophomore, and $7,500 as a junior and senior.
There are two types of Federal Direct Stafford Loans for undergraduate students. If the student has a need-based Federal Direct Subsidized Stafford Loan, the Federal government pays the loan interest while the student is in college or in deferment. If the student has a non-need based Federal Direct Unsubsidized Stafford Loan, the student is responsible for paying the interest while in college. Award amounts will be indicated on the student's financial aid award letter.
A student may borrow at a relatively low interest rate with the option of no repayment while enrolled at least half-time, and for six months after program completion or departure. Current interest rates can be found here.
To apply for a Federal Direct Stafford and Unsubsidized Stafford loan, please complete the Master Promissory Note and required Entrance Counseling at https://studentloans.gov.
If you need assistance or have any questions, please call our office at 315.655.7888 or 1.800.654.3210. You may also email us at email@example.com.