Loans

Loans are financial aid funds that must be paid back, usually with interest. There are federal student loans, federal parent loans, and private loans. The good news is that interest rates for federal student loans and parent loans are currently at historic lows.
 

FEDERAL FAMILY EDUCATION LOAN PROGRAM 

• FEDERAL STAFFORD LOAN (Subsidized and Unsubsidized) - Loan Process
• FEDERAL PARENT LOAN OF UNDERGRADUATE STUDENTS (PLUS)

First time borrowers at Delta College are required to complete Loan Entrance Counseling before a loan check can be released.  Once Delta College receives your loan approval notice, you may delay payment of tuition and fees until your loan check can be released. You cannot charge books and supplies against a student loan. You must be enrolled and in attendance of 6 or more credits to receive a loan. Loan programs are self-help financial aid programs and MUST BE REPAID.

When your lender sends your check to Delta College, you will receive notice from the Financial Aid Office. The first disbursement will not be released until approximately 8 weeks after classes have started. Second disbursements of two-semester loans will be released approximately 8 weeks after the second semester begins. Second disbursements of one-semester loans will be released after the second half of the loan period has started.

Click Federal Stafford Loans above for more information.
 

MICHIGAN ALTERNATIVE STUDENT LOAN (MI-LOAN) PROGRAM is available to creditworthy students and their families as an alternative source of education loan funds. (Program has been temporarily suspended by the State of Michigan)