Subsidized/Unsubsidized Loans

If you are awarded a Stafford Subsidized or Unsubsidized Loan, listed below are Federal Policy requirements that you will need to be aware of. Please review the following:

• Loan amounts are limited per academic year.  It is possible to max out your eligibility in one semester for the current academic school year and have no remaining eligibility or a reduced amount for your next semester.
• If at any time before your loan funds are disbursed you wish to cancel or reduce the amount of your loan(s), you must contact the Financial Aid Office in writing at studentloans@delta.edu. If no request is received to cancel or reduce your loan, this is your affirmative confirmation to accept your loan(s).
• Loan funds received will be credited to your account. Any remaining balance of loan funds will be mailed to your address on file with the College, no earlier than 30 days from the beginning of the semester. 
• You must be registered in a minimum of six credit hours.
• Loans will be recalculated for eligibility, if you register for fewer credit hours than indicated on your loan application.
• Amount appearing is the gross amount. Stafford Loans require a 1.051 percent origination fee that students must pay at the time of disbursement. The net disbursement is 98.95 percent of the gross amount.
• You are responsible to ensure the net amount of your loan is enough to cover tuition and fees. If there is a balance it must be paid by payment deadline.
• If you drop below six credits and have received your loan funds, your loan(s) will go into repayment after six months. Deferment can continue if you are enrolled in a minimum of 6 credits during subsequent semesters.
• If you completely withdraw during a semester and you have not completed 60 percent of the semester or have never attended one of registered courses, the Financial Aid Office will proceed with a Title IV refund calculation. The amount of aid is determined on a prorated basis.  If you have received more aid than you have earned, excess aid is returned back to the programs.
• You must meet all Delta College Financial Aid Satisfactory Standards of Academic Progress (SAP) policies. This is checked each semester before funds are released to your account.
• Delta College will not authorize late disbursements after the end of the loan period.
• You can access information regarding your Federal student loans at www.nslds.ed.gov/nslds_SA/ you will need your federal pin number to access this site.

• Once loan funds are disbursed you will receive an e-mail indicating the amount of the net disbursement to your student account.