Federal Student Loan Debt Cancellation Announcement
President Biden, Vice President Harris, and the U.S. Department of Education have announced a three-part plan to help working and middle-class federal student loan borrowers transition back to regular payment as pandemic-related support expires. Read more on Loan Forgiveness plan.
Federal Direct Loans
The deadline to submit a Summer Direct Loan application is July 1
The deadline to submit a Fall-only Direct Loan application is November 30 (if scheduled to graduate at end of semester, or will not re-enroll in Spring for at least 6 credits)
The deadline to submit a Fall-Spring Direct Loan is April 15
The William D. Ford Direct Loan is the primary loan program utilized by CSI students. To apply you must complete the loan application provided by CSI, be matriculated, carry at least six credits each term, and file the FAFSA each year. Direct Loans can be either subsidized or unsubsidized, and the variable interest rate is guaranteed to go no higher than 8.25%. Subsidized loans are based on financial need and no interest is charged as long as you maintain continuous half-time enrollment (six equated credits). Unsubsidized loans are not need-based and interest is charged to you from the time the loan is disbursed. Repayment of Direct Loans begins six months after you graduate, withdraw from school or drop to less than half-time status, and Exit Counseling is required. Additional information including current interest rates can be found at studentaid.gov.
Application process for First-time CSI borrowers:
- Sign a Master Promissory Note
- Complete Entrance Counseling and print out the results of entrance exam.
- Complete the CSI Direct Loan Application.
Direct (Parent) PLUS Loans allow parents with good credit ratings to borrow up to the cost of their child's education, minus any financial aid the student is receiving. These loans are not need-based, but students who have parents wishing to take a PLUS Loan must file the FAFSA. Direct PLUS Loan Applications are available directly from the Office of Student Financial Aid or on the Forms page under “Direct Loan Forms”.
Federal Perkins Loans
Exit interviews are required of all recipients who fall below six equated credits, graduate or leave school. Loans may not be given to students who have previously defaulted or owe a Title IV repayment.
- Call 1.888.549.3274 to obtain PIN to be used when doing the Exit Interview
- CSI's School Code is: F5
- Your Account Number is your social security number
- Use the Hyperlink below to enter BORROWER SITE
- Select "MY ACCOUNT"
- Provide CSI School Code (F5), Account # (your Social Security Number) and Password (your PIN)
- Complete Exit
- Enter Borrower Site Here