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California State University, Long Beach

All staff members of the Office of Financial Aid at California State University, Long Beach adhere to The California State University Student Lending – Code of Conduct, which restricts activity that may lead to conflicts of interest in the area of student lending.

Federal Education Loans

CSU Long Beach participates in two types of federal student loan programs: the Federal Direct Loan program (which consists of Stafford and PLUS Loans), and the Federal Perkins Loan program.

Education loans are a form of financial aid that must be repaid with interest. As the most prevalent type of financial assistance, many students (and parents), turn to some form of loan aid as a way of closing the gap between educational expenses and available resources.

We highly recommend that you file a (FAFSA), - regardless of income - as most students / families are eligible for some form of federal education loan assistance.  To be eligible to receive funding from the federal loan programs, you must meet the general eligibility requirements for the Federal Financial Aid programs.

Federal Perkins Loan Program

The Federal Perkins Loan is a low-interest (5%) fixed-rate loan offered to students who demonstrate exceptional financial need. Students must be enrolled at least half-time at Census to be eligible for disbursement of funds.

All Perkins loans at CSU Long Beach are managed by CSULB Student Financial Services and Educational Computer Systems, Inc (ECSI). Students awarded a Perkins Loan must complete and submit a Perkins Master Promissory Note; ECSI will email those students awarded a Perkins Loan with instructions on how to complete the required steps.

For further information on the Federal Perkins Loan, refer to Federal Student Aid’s Perkins Loan information page, as well as the CSULB Student Financial Services website.

Federal Direct Stafford Loan Program

The Federal Direct Stafford Loan is a low-interest loan available to college students who are enrolled at least half-time in an eligible program. Interest rates are adjusted by Congress annually, with a new rate taking effect each July 1st. Although the interest rate for new loans may change each July 1, the rate received will be fixed for the life of the loan.  Current as well as previous Direct Loan interest rates are available on Federal Student Aid’s Stafford Loan Interest Rate page .

In addition to the interest rate, Direct Loans charges an origination fee on all Stafford loans, which is deducted from your loan funds at the time of disbursement. For the current origination fee, refer to Federal Student Aid’s Stafford Loan Fee page.

The Stafford Loan does not require credit approval; eligibility is determined by filing the FAFSA. The loan(s) you receive will either be Subsidized, Unsubsidized, or a combination of both.

Stafford Loan - Annual & Lifetime Borrowing Limits

There are limits on the amount in subsidized and unsubsidized loans that you may be eligible to receive each academic year (annual loan limits) and the total amounts you may borrow for undergraduate and graduate study (aggregate loan limits). For details on loan limits, please refer to Federal Student Aid’s Stafford Loan Information page .

Please note the following regarding annual loan limits at CSULB:

  • For periods of study shorter than an academic year, the amounts you can borrow may be less than the annual limit. In addition, loan amounts may be less if you receive other financial aid that is used to cover a portion of your educational costs.
  • For dependent students whose parents are unable to obtain a Federal Parent PLUS Loan, the amount the student can borrow under the Stafford Loan program is the same as for an independent student.
  • Graduating Senior Proration for Undergraduates: If you are a graduating senior and only attending one semester (i.e., graduating at the end of the Fall semester), CSULB is required to prorate your loan based your actual enrolled units. The proration is based on the annual loan limit, multiplied by the number of units needed for graduation divided by 24.

Subsidized Stafford Loan

Eligible Students:

  • Undergraduates (includes 2nd Bachelor’s Degree students)
  • Credential Students

For the Federal Direct Subsidized Stafford Loan you must have financial need – as determined by your FAFSA application. The federal government will pay the interest until you enter your grace period - the time you are no longer enrolled on at least a half-time basis. Repayment on the principal amount of the loan begins six months after you cease to be enrolled at least half-time (including leaves of absence).

NOTE: Effective July 1, 2013, eligibility for the interest subsidy has a 150% time limitation for “new borrowers” of Subsidized Stafford Loans. A “new borrower” is defined as:

  • a person who has never borrowed a Stafford loan OR
  • a person with a $0 existing balance as of July 1, 2013.

A student who is eligible for a Subsidized Loan will reach his/her subsidized limit at 150% of a program’s length of study.  Due to the potential impact reaching the 150% limit may have on any outstanding Subsidized Loans, students are encouraged to complete undergraduate study on a timely basis.For more details, review the information on Federal Student Aid’s Subsidized & Unsubsidized Loan information page, as well as their Time Limitation on Direct Subsidized Loan information sheet.

Unsubsidized Stafford Loan

Eligible Students:

  • Undergraduates (includes 2nd Bachelor’s Degree students)
  • Credential Students
  • Graduate students (Masters, PhD)
For the Federal Direct Unsubsidized Stafford Loan, the government does not pay the interest while a student is in school as it does for the subsidized loan. Interest accrues and must be paid or capitalized during periods of enrollment in school and/or deferment.

Federal Direct PLUS Loan

The Federal Direct PLUS Loan is a government-insured, credit-based loan made to either the parent of a dependent undergraduate student OR to a graduate/doctoral student.  The PLUS Loan is not based on income or financial need; approval is based on the credit-worthiness of the borrower.  In the event of a credit-denial, Federal Student Aid’s PLUS Loan Information page details the options available for obtaining a PLUS Loan. The amount requested can be up to the student’s cost of attendance – less any other financial aid (grants, scholarships, student loans). 

The interest rate for the PLUS Loan is adjusted by Congress annually, with a new rate taking effect each July 1st.  Although the interest rate for new loans may change each July 1, the rate received will be fixed for the life of the loan.  The current Direct PLUS Loan interest rate is available on Federal Student Aid’s PLUS Loan Information page.

In addition to the interest rate, Direct Loans charges an origination fee on the PLUS loan which is deducted from your loan funds at the time of disbursement.  For the current origination fee, refer to Federal Student Aid’s PLUS Loan Information page.

The PLUS Loan enters repayment once the loan has been fully disbursed, which is typically after the Spring Semester disbursement.  Various options are available to postpone payment; refer to Federal Student Aid’s Direct PLUS Loan Information page for additional details.

To apply for a PLUS Loan at CSU Long Beach, the student must complete a FAFSA and the appropriate PLUS Loan Request Form must be submitted to CSULB’s Office of Financial Aid.

Parent PLUS Loans:

The Federal Parent PLUS Loan is available to parents (including adoptive or stepparents) of dependent undergraduate students. In addition to the parent borrower passing a basic credit check, the student must meet the general eligibility requirements for federal student aid. Any amount borrowed in excess of university charges through the Parent PLUS Loan will be issued as a refund to the parent.

Graduate PLUS Loans:

The Federal Graduate PLUS Loan is only available to graduate students (master’s and doctoral students).  The Graduate PLUS loan is meant to supplement the funding from the Stafford Loan program, and should only be requested if you have exhausted your Stafford Loan eligibility for the year – and still have remaining expenses/room in your Cost of Attendance budget.