MiraCosta Financial Aid Office does not participate in certifying alternative/private education bank loans or Parent Plus loans.
Federal Direct Loans
Federal Direct Loans are low-interest loans for students to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education, though most of the contact will be with your loan servicer.
Federal Direct Subsidized Loans
Federal Subsidized loans are loans for which the U.S. Department of Education pays the interest for your loans while you are still enrolled in school. Eligibility for this type of student loan is based on financial need.
Interest is covered by the Department of Education while:
- You are in school at least half-time,
- for the first six months after you leave school (referred to as a grace period*), and
- during a period of deferment (a postponement of loan payments).
*Note: If you received a Direct Subsidized Loan that is first disbursed between July 1, 2012, and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your principal balance.
Maximum Subsidized Federal Direct Loan Amounts:
- Freshmen (0-29 college units) = $3,500 per academic year
- Sophomores (30 college units or more) = $4,500 per academic year,
- Juniors/seniors (60+ college units or more) = $5,500 per academic year.
Students receiving loan funds for one semester at MiraCosta in order to complete their educational program may receive prorated amounts.
Federal Direct Unsubsidized Loans
Federal Unsubsidized loans do accrue interest while you are in school and are added to the principal loan amount when you go into repayment. These loans are not based on financial need.
MiraCosta’s Financial Aid Office strongly encourages you to explore all options before requesting an unsubsidized loan.
Maximum Unsubsidized Federal Direct Loan Amounts:
- Dependent student = $2,000
- Independent student = $6,000
- Independent student in bachelor’s degree program = $7,000
Helpful information about repayment:
- You will not be required to make principal payments while you are in school at least half-time through the six-month grace period after leaving school
- After you have dropped below half-time or graduated, you will begin to make regular monthly payments on both the principal (the amount you borrowed) and the interest (the amount charged to you for borrowing the money).
- Depending upon the total amount you borrowed, it may take up to ten years to repay your loan(s).
Apply for a Direct Loan at MiraCosta College
- Complete a Free Application for Federal Student Aid (FAFSA)
- Complete all required financial aid items on your SURF Tasks list
- Complete the Direct Loan Request Form by clicking the link below:
Please complete the ENTIRE loan form and steps in order to avoid delays in the processing of your loan request.
How your loans are disbursed:
Federal Direct Loan funds are disbursed in equal payments throughout the entire loan period. Loan disbursements will be delivered according to your chosen direct deposit option using BankMobile.
Please review our disbursement page for loan disbursement dates: Disbursement Dates
A Few More Words of Advice...Borrow only what is absolutely necessary. You may be paying back this loan for a long time. Take the time now to ask questions and make the right decision, that decision can save you money.
Changes to Federal Student Loans
Federal regulations are changing how schools calculate student loan eligibility beginning with the 2026–2027 academic year.
What Is Changing?
Previously, students who enrolled in a minimum of 6 units qualified for the maximum loan amounts, based on their eligibility.
Starting with the 2026–2027 academic year, only students enrolled in 12 or more units will be eligible to receive the maximum loan amounts. Federal student loan amounts will be adjusted based on the units a student is enrolled in.
The exact loan amount will depend on your enrollment level and other financial aid eligibility requirements.
Why Is This Change Happening?
The U.S. Department of Education has updated federal student loan regulations. Schools are now required to adjust loan eligibility based on a student's enrollment level.
What Does This Mean for Me?
If you plan to borrow federal student loans:
- Your loan amount may be lower if you enroll in fewer than 12 units.
- Changes to your enrollment after your loan is awarded may affect your eligibility.
Please note: Students are not required to be enrolled 12 units to request Federal Student Loans. The minimum unit requirement is still 6 units to be eligible to request loans.
Examples
- Example 1: If you enroll in 9 units for the Fall semester and 12 units for the Spring semester, your annual loan eligibility may be lower than a student who is enrolled full-time in both semesters.
- Example 2: If you enroll in 12 units for the Fall semester but later reduce your enrollment below 12 units, your loan eligibility may need to be adjusted.
- Example 3: If you begin the year in fewer than 12 units and later increase your enrollment to 12 or more units, your loan eligibility may be reviewed and adjusted based on your updated enrollment.
Because loan eligibility may change when enrollment changes, students are encouraged to carefully consider their enrollment plans before requesting a federal student loan.
The Financial Aid Office will review each student's eligibility individually and will notify students of their loan eligibility through their financial aid offer.
