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Student Loans


It is no longer necessary for students to request a student loan.  If eligible, you will be awarded a Federal Direct Loan as part of your financial aid package.  Loans are federally funded sources of assistance that must be repaid with interest.

Federal Direct Stafford Loans

Students may qualify for a “subsidized” Federal Direct Stafford Loan based on financial need.  Student may qualify for an “unsubsidized” Federal Direct Stafford Loan regardless on other criteria.  These loans are repaid six months after you graduate from college, leave school or drop below half-time status.

Students who are enrolled half-time (6 or more credits hours), meet standards of satisfactory progress and meet need requirements may be eligible for these loans.  The current interest rate for 2014-15 is 4.66% for loans disbursed July 1, 2014 to June 30, 2015 for both Subsidized and Unsubsidized loans. For loans disbursed July 1, 2015 to July 1, 2016, the interest rate is 4.29%.

To apply for a Federal Direct Student Loan:

Student loans are awarded to all eligible students.  If you wish to accept your loans, you will need to do this on your Online Student Center.  If you need to set up your account on your online students center, go to login request and complete your request.  If you are a first time borrower, you will need to complete an Entrance Counseling and Master Promissory Note.  In your award letter that was sent to you are student loan instructions to guide you through the process.

Federal Direct Parent Loan for Undergraduate Students (PLUS)

Federal Direct Parent Loan for Undergraduate Students (PLUS) are not need-based and accrue interest while the student is enrolled at least half-time (minimum 6 credits).  PLUS loans are borrowed by a parent to pay for the educational costs of his/her dependent student.

PLUS  Loans:

  • Begin repayment sixty days after the first disbursement of the loan.
  • Accrue interest while the student is enrolled half-time.
  • The current interest rate for PLUS Loans for 2014-15 is 7.21%. For PLUS Loans disbursed July 1, 2015 to July 1, 2016, the interest rate is 6.84%.
  • Are based on the parent’s credit.  The credit check is conducted by the U.S. Department of Education.
  • Parents whose credit has been denied may choose to get an Endorser (co-signer) or appeal their denial based on extenuating circumstances. Parents whose credit is approved by one of these measures will be required to complete PLUS counseling with the Department of Education. If you wish to get an Endorser or appeal the credit decision made, please contact Applicant Services at 1-800-557-7394 or go to and select PLUS loan process.

Students whose parent has been denied a PLUS loan based on credit may qualify for additional Federal Direct Unsubsidized Stafford Loans.

To apply for a PLUS Loan:

  • Student and parent must complete the FAFSA.
  • Parent and student must complete the Direct Parent PLUS Loan Request and Master Promissory Note at
    • This is an agreement between the parent and the federal government to repay the Federal Direct Loans received for their son/daughter(s) educational costs.
    • The parent will use the PIN/FSA ID they used to electronically sign the FAFSA.
    • GRCC will receive notification of your Direct Parent PLUS loan request status from the federal government and we will notify you regarding your next steps.

Private Education Loan Disclosures:

GRCC does not provide information to students regarding borrowing funds from private lenders or have preferred lender arrangements with any private financial institutions.  We will certify private loan application forms that are submitted to GRCC by students.  Students can use the Self Certification form for this purpose.