Full Terms for Loan Change Requests
- All requests must be rounded to the nearest dollar amount.
- CI reserves the right to certify less than the requested amount if the requested amount exceeds the student's eligibility.
- Per federal regulations, a student must receive their maximum Subsidized Loan prior to increasing an Unsubsidized Loan.
- For Subsidized, Unsubsidized, and Parent PLUS Loans change requests, enter the gross amount of the loan you would like to receive:
o Gross amount = Net amount (funds disbursed to your Student Account) + Origination fee - CI automatically splits the total loan amount as 50% Fall 50% Spring when the student is enrolled in both semesters.
- To be eligible for federal loans, a student must be enrolled at least half-time in a program that leads to a degree or certificate.
- The student must be enrolled at least half-time in the summer semester and have remaining eligibility leftover from their annual loan limit before they will be offered any loans for the summer.
- Please note that the borrower has the right to cancel a portion of or the entirety of their loan within 14 days of either the first day of class or the disbursement of the funds to the student’s account, whichever is later. After which time it is the borrower’s responsibility to return any unwanted funds to the lender.
- Please allow up to 30 days for your request to be processed.
Direct Loan Grade Level Annual Limits
| Student Grade Level | Units Completed | Subsidized or Unsubsidized | Additional Unsubsidized | |
| Dependent * | Independent | |||
| Freshmen | 0-29 | $3,500 | $2,000 | $6,000 |
| Sophomore | 30-59 | $4,500 | $2,000 | $6,000 |
| Junior | 60-89 | $5,500 | $2,000 | $7,000 |
| Senior | 90+ | $5,500 | $2,000 | $7,000 |
| Teaching Credential | $5,500 | n/a | $7,000 | |
| Graduate (Masters) | $20,500 | n/a | n/a | |
* If Parent PLUS loan credit decision is denied, see Independent limits
Direct Loan Requirements
Students who wish to borrow Federal Education Loans must complete some additional steps. The borrower will need to login to StudentAid.gov with their FSA ID to complete the requirements.
| Loan Requirement | Student borrower | PLUS borrower |
| Entrance Counseling to understand the obligation to repay the loan | Required | |
| Master Promissory Note (MPN) a promise to repay the loan | Required | Required |
Timeline
All application steps must be completed at least 10 business days prior to the end of a term the student wishes to receive aid for. This includes:
- Filing a FAFSA
- Submitting any additional documents requested
- Accepting the loan offer(s) on myCI Student Center
- Completing loan requirements (see above)
All loans require processing time before the funds will be ready to disburse. Students may receive loan funds for a term only if they are currently enrolled in that term and loan funds disburse prior to end of that term. If completion of required steps occurs after the 10 business days prior to the end of the term, the Financial Aid & Scholarships office cannot guarantee that loan(s) will be processed before the end of the eligible timeframe.