Student Loans

A Direct Student loan is a long-term financial obligation which can limit your cash flow and your purchasing ability for many years into the future. We hope you will seriously evaluate whether taking on loan debt is truly necessary to make ends meet. We strongly recommend you look at your budget and expenses and evaluate where you can save money before taking on loan debt. If you decide a loan is a necessity to meet your educational expenses, borrow only what you need, this can help save your loan eligibility for when you transfer to a four year school to assist in covering the increased expenses.

Federal Student Loans can help you pay for educational expenses and help relieve stress on how to cover these educational expenses, but please remember always be informed and borrow responsibly. 

Here are some factors to think about when determining if you need to borrow and how much to borrow:

• Where do plan to attend college, living expenses are one of the most stressful and costly factors in attending college. Be sure to know or calculate a close and realistic amount of how much you will need for living expenses while you are in school.
• The cost to attend the college of your choice.  Enrollment cost can differ depending on where and what type of college you choose to attend.  The degree/ academic program you are working toward also factors in to the cost. Some programs cost more than others depending on the materials needed for the required courses. Examples: Nursing, Automotive, Cosmetology and Dental to name a few all have additional material expenses. (The more expensive the school the more expenses you will accrue and need to pay)
• Your expected graduation date.  Factoring in how long it will take you to finish can help determine how much you will need throughout your educational journey.  A good question to ask is "How long do I think it will take me to complete my goal" You answer can help you determine how much to budget for and what length of time you need to budget these expenses.
• The amount of grant and/or scholarship aid you are offered to help pay for these expenses. Always remember Grant Aid and Scholarships do not have to be paid back, only loans have to be repaid. 

These are just a few factors to consider please visit the link below for more information.

Federal Student Loans Basics for Students

We have provided informative and important information on this page that will help you make an informed decision about borrowing a student loan, how much to borrow and what type of loan to borrow. This information is to help you understand Evergreen Valley College's loan process and policies along with your options and responsibilities as a student borrower. If you have questions about any of the information on this page or if there is something that was not covered please contact the Loan processor in the Financial Aid Office.

• Students who decided to request a student loan must have completed the FAFSA process with EVC Financial Aid Office.
• Students must be enrolled at least half time at EVC (a minimum of six (6) units) during the loan period, in courses which apply to their declared major at the start of the disbursement.
• Enrollment in late-start courses may affect the timing of a student's loan disbursements. If less than six (6) units of a student's enrollment begins after the first week the semester starts, loan funds will not be disbursed until at least six (6) units begin. This does not affect student enrolled in Nursing or Automotive Program courses.
• Students must be working toward completion of an eligible Transfer, Certificate or Associate degree granting program. (English as a Second Language and Remedial Courses are not eligible classes for the loan program)
• Students must have completed six (6) degree applicable units prior to requesting a student loan. If a student does not have the required degree applicable units completed, then they must be enrolled in at least six (6) degree applicable units. English as a Second Language and Remedial Courses are not eligible classes for the loan program. (Please visit the Financial Aid office in person if you do not meet this requirement for other options)
• Students must have met Satisfactory Academic Progress (SAP) at the time a loan is requested and must continue to maintain SAP.  Students on warning status may be asked to submit an Ed Plan prior to loan disbursement.
• The Financial Aid Office may deny, on a case-by-case basis, a loan request for a student who has been in default, who has demonstrated or is demonstrating poor academic progress, and/or if a student already has a high cumulative student loan debt.
• A student is NOT eligible for a student loan or any other federal financial aid, if in DEFAULT of a prior student loan(s), or owes a repayment of Title IV financial aid to any school in the country.
• EVC students are only allowed to request to borrow up to 50% of the aggregate loan limits for their dependency status.
• If you are a first-time borrower after July 1, 2013, you may not receive Direct Subsidized Loans for more than 150 percent of the published length of your program. This is called your "maximum eligibility period." The maximum eligibility period for most EVC students is three years.  This means that you will only be able to borrow a subsidized loan for (3) years regardless of the amount that you borrow. This time limit does not apply to Direct Unsubsidized Loans
• Because your maximum eligibility period is based on the length of your current program of study, your maximum eligibility period can change if you change to a program that has a different length. Also, if you receive Direct Subsidized Loans for one program and then change to another program, the Direct Subsidized Loans you received for the earlier program will generally count toward your new maximum eligibility period.
• Borrowers who become ineligible for subsidized loans because of the 150 percent limit are ineligible for interest subsidy benefits on all subsidized loans first disbursed after July 1, 2013.  
• Students that have completed less than 30-degree applicable units are subject to the first- year loan limits.
• Students that have completed 30 or more-degree applicable units are subject to second-year loan limits. (This excludes student already accepted into the Nursing Program, if you are a student registered in the Nursing program you will automatically be considered for 2nd year loan limits)
• Students that have completed degree applicable units at a college other than Evergreen Valley College or San Jose City College must have an official transcript on file and request that the transcripts be evaluated.

If you have less than 30-degree applicable units with EVC/SJCC and want to be considered for 2nd year loan limits, an Evaluated transcript from your previous school(s) will need to be submitted with your loan request.

Note: Prior college units will only be counted if an EVC counselor has determined that the prior units apply to your current degree, certificate or academic program being pursued.

• Entrance loan counseling is required for all student loan borrowers.
• Exit interviews are required for all students when their enrollment level falls below 6 units.
• As required by federal regulations, Direct Loans for new EVC borrowers are disbursed at least 30 days after the start of the loan period.
• The loan period is the standard academic year which consists of the Fall and Spring semesters. In cases where the program of study or the remainder of the program is less than a year, the loan amounts are prorated according to federal regulations.
• Direct loans are disbursed in the same manner as federal grant aid, which means all student loans will be awarded equally between Fall/Spring semesters. All student loans, even one-semester loans, must be disbursed in at least two disbursements.
• Student will be asked to take a loan quiz based on these policies.
• Students have the right to cancel a loan at any time.
• Student loans are awarded to meet educational expenses only.

Great! Now that you read the loan policies and understand your responsibilities as a student borrower at Evergreen Valley College, you can start completing the steps to the loan request.

There are three (3) easy steps to submitting a Student Loan request, please read carefully and follow each step. If you do not complete a step this can cause a delay in reviewing your loan request and/or approval of your loan request. If you have any questions or you are having trouble completing a step, please contact our Financial Aid loan processor.

Steps to completing student loan request:

1. Complete the FAFSA and submit all other required documentation.
2. Complete Entrance Loan Counseling: https://studentaid.gov/entrance-counseling/
3. Sign the Master Promissory Note online: https://studentaid.gov/mpn/
4. After you have completed the Entrance Loan Counseling, complete the Master Promissory Note. (you may want to print a copy for your record
5. Email Josephine.Aguirre@evc.edu to request the Student Loan Application

The deadline to submit the 2023-2024 Loan Request is May 13th, 2024

If you do not meet all of the eligibility requirements and have not already submitted all required documents at the time you submit your loan request your request results will be delayed.

After all required documents have been received, notification of approval or denial is sent by e-mail within one week.

Deferment

A postponement of payment on a loan that is allowed under certain conditions and during which interest does not accrue on Direct Subsidized Loans, Subsidized Federal Stafford Loans, and Federal Perkins Loans. All other federal student loans that are deferred will continue to accrue interest. Any unpaid interest that accrued during the deferment period may be added to the principal balance (capitalized) of the loan(s).

First-time Borrower

A student who does not have an outstanding balance on a Direct Loan or FFEL Program as of July 1, 2013.

Grace Period

A period of time after borrowers graduate, leave school, or drop below half-time enrollment where they are not required to make payments on certain federal student loans. Some federal student loans will accrue interest during the grace period, and if the interest is unpaid, it will be added to the principal balance of the loan when the repayment period begins.

Subsidized Loan

Loans for students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, during the grace period, and during deferment periods.

Unsubsidized Loan

Loans for students not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.

Entrance Counseling

Entrance counseling explains the obligations you agree to meet as a condition of borrowing a Direct Loan.

Exit Counseling

Exit counseling provides important information that you need as you prepare to repay your federal student loan(s).

Forbearance

A period of time when your monthly loan payments are temporarily stopped or reduced. Interest will continue to be charged on your loans. Be aware that unpaid interest may be capitalized (added to your loan principal balance) at the end of your forbearance period.

Master Promissory Note (MPN)

An MPN is a legal document that contains the Borrower's Rights and Responsibilities and Terms and Conditions for repayment. Direct PLUS and Direct Subsidized / Unsubsidized loans have different MPN's.