Student Loan Information

Direct Loan Information

Online Direct Loan Orientation
Now Available! Sign in & go to Direct Loan Orientation. Once completed, we will be notified electronically within 3 days.

Direct Loan Servicer Account

Financial Aid Code of Conduct

Direct Loan Borrower Referral

   Loan Application- Available August 18, 2014 (first day of Fall classes)
Your file must be complete in order for us to accept the application at the front counter.  We send award notifications to your Palomar Student email account.
We cannot accept Loan Applications via email or fax.

 

**Important Notice**
Effective with the 2013-2014 school year, Palomar College has been approved by the U.S. Department of Education to participate in an experimental initiative to reduce student loan burden and risk of loan default. As a result, specific student categories will be unable to receive unsubsidized loans at Palomar College.
 
Based on this initiative, the following categories of students will not be eligible to borrow unsubsidized loans:
STUDENTS WHO HAVE COMPLETED 24 UNITS OR LESS TOWARDS THEIR PALOMAR COLLEGE MAJOR
  • Units completed are those units which are required college units towards the declared Palomar College major

STUDENTS WITH TOTAL LOAN AGGREGATE DEBT OF $12,500 OR MORE

  • Students who have borrowed subsidized and unsubsidized loans with a combined total of $12,500 or more
  • Total loan debt includes loans from ALL schools

STUDENTS APPPROVED THROUGH THE FINANCIAL AID APPEAL PROCESS

  • Students who have an “unsatisfactory” status (disqualified) for any reason and who are approved through the Financial Aid appeal process for the 2013-2014 aid year

Students who meet one of the above criteria will not be eligible for an unsubsidized student loan at Palomar College for the 2013-2014 school year. This decision is final and cannot be appealed to the U.S. Department of Education.

The Financial Aid Office does not participate in certifying alternative education bank loans.

Palomar College believes that it is the responsibility of the Financial Aid Office to provide students complete information regarding their financial assistance options to help minimize the cost of attending college.

While we neither promote nor advocate student loans, we do provide information on the process and the rights & responsibilities that accompany obtaining both subsidized and unsubsidized student loans to interested students. It is our hope that the information on this site will help you make an informed decision about borrowing student loans.

The following are key points about Direct Loans:

  • Students do not borrow from banks.  Direct Loans are loans made with federal capital and are owned by the federal government.

  • Direct Loans are never sold.  Borrowers make loan payments to the Department of Education for the life of their loans.

  • Students do not wait in lines to endorse bank checks because schools receive loan funds electronically from the federal government and disburses them to students directly.

  • Borrowers have flexible repayment options with a Direct Loan, including Income Contingent Repayment, and they can change options when they need to without a fee at any time during the life of the loan.

   Important Notes

Last modified on July 21, 2014

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