Subsidized Loans

Subsidized Loans are available to students who meet certain financial need criteria. If you qualify, the federal government will pay the interest on the loan while you are in school and during periods when you are authorized to defer your loan payments.

Unsubsidized Loans

Unsubsidized Loans are available to students regardless of financial need. You are responsible for the interest that accumulates on an unsubsidized loan while you attend school, during the grace period and during any periods when you are authorized to defer your loan payments. You have the option to pay the interest during school or pay it later. If you delay payment, the interest will be added to your principal balance. This addition of interest to your principal balance is known as capitalization.

Students who are interested in borrowing a student loan for fall and spring may submit a student loan request form to the Oxnard College Financial Aid Office.    

Loans will not be processed until you have completed online loan Entrance Counseling, and completed online MPN at studentaid.gov . Once the loan application is processed it will appear as an award on the financial aid awards package on the student portal and the student will receive an email at the my.vcccd.edu email address instructing the student to check awards on the financial aid tab of the portal.

Maximum annual award for PLUS is the student's Cost of Attendance minus any resources the student has been awarded.  Plus Eligibility is contingent on approved credit which is only valid for 90 days. Do not apply prior to July 1st.  The interest rate for Direct PLUS Loans is set on July 1st. Interest is charged on Direct PLUS Loans during all periods, beginning on the date of your loan's first disbursement.  There is an origination fee.

In addition to interest, you pay a loan origination fee that is a percentage of the principal amount of each Direct PLUS Loan that you receive. This fee helps reduce the cost of making these low-interest loans. We deduct the fee before you receive any loan money, so the loan amount you actually receive will be less than the amount you have to repay.

**Please notify FA office if you are applying for Plus Loan.**

Dependent students whose parents have applied for but were unable to get a PLUS Loan may be eligible to receive additional Direct Unsubsidized Loan funds. Students must provide a copy of the PLUS credit denial to the Financial Aid Office.

Federal law specifies annual loan limits on Federal Direct Loans based on your year in college and your dependency status. At Oxnard College, you must have completed 30 college level units toward your program of study to be considered a second year student.

Annual Interest Rates are set each July 1st.

• For all Direct Subsidized Loans and Direct Unsubsidized Loans for which the earliest disbursement date is on or after July 1.
• For all Direct Subsidized Loans and Direct Unsubsidized Loans for which the earliest disbursement date is on or after July 1.

Before your federal loan is disbursed, you have the right to cancel all or part of your loan by notifying the Financial Aid Office.

After disbursement, you may still cancel or reduce your loan through the following options:

1. Notify Oxnard College within the school's cancellation timeframe.
   Each term, Oxnard College sets specific deadlines to cancel or reduce loans after disbursement. To request a loan cancellation or reduction, please complete and submit our online form:
   👉 Loan Cancellation/Reduction Request Form
2. Return funds to your loan servicer within 120 days of disbursement.
   If you’ve already received loan funds, you can return all or part of the money within 120 days of the disbursement date. This will cancel that portion of the loan, and you won’t be charged interest or fees on the cancelled amount.
   To proceed, contact your loan servicer for repayment instructions. You can find your loan servicer by logging into your account at:
   🔗 StudentAid.gov (formerly StudentLoans.gov)

For more information about your rights and responsibilities as a borrower, visit:
🔗Federal Student Loan Information – StudentAid.gov

If you have questions or need assistance, please contact the Oxnard College Financial Aid Office.

• There are no changes to undergraduate student loan limits, and undergraduate student loans do not count toward the new lifetime graduate and professional limits.
• Starting July 1, 2026 for new borrowers, Parent PLUS loans will be capped at $20,000 per student per year, with a $65,000 lifetime limit per dependent student.
• Existing Parent PLUS borrowers who have borrowed for their students before July 1, 2026, can continue with the current limits (up to the cost of attendance, minus other financial aid) for three more years or until the student’s program ends.
• Changing majors does not affect Parent PLUS Loan eligibility. An undergraduate student who changes majors within the same degree or certificate is considered enrolled in the same program of study.

• The bill includes a provision to prorate undergraduate and graduate loan amounts based on enrollment.
• Half-time students (e.g., as defined by each program) would only be eligible for a portion of the annual loan limit.
• Students enrolled less than half-time (part-time) are not eligible for federal student loans.
• Loan proration applies to both borrowers under the pre-July 1, 2026, legacy provisions (limited exceptions) and new borrowers on or after July 1, 2026.
• Further guidance regarding loan proration will be forthcoming from the Department of Education.

1. Take Advantage of the Public Service Loan Forgiveness Waiver - Until Oct. 31, 2022, federal student loan borrowers can get credit for payments that previously didn't qualify for Public Service Loan Forgiveness(PSLF) or Temporary Expanded Public Service Loan Forgiveness (TEPSLF)
2. Prepare for Student Loan Payments to Restart- Now that the COVID-19 payment pause has ended, student loan payments have restarted
3. TEACH Grants: What’s New - Attention, current and future teachers! The U.S. Department of Education (ED) enhanced the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program. We’ll discuss what’s changing, but first, here’s a quick overview. The Program The TEACH Grant Program provides grants of up to $4,000 a year to students who are completing or plan
4. 6 Ways to Prepare for Student Loan Payments - Learn ways to prepare for your upcoming student loan payments, whether you're starting payments for the first time or coming back to repayment after a temporary payment pause.
5. Student Loan Forgiveness (and Other Ways the Government Can Help You Repay Your Loans) - Learn about the eligibility requirements for various federal student loan forgiveness and repayment programs. 

For more information, visit https://studentaid.gov/articles/ 

• For borrowers with all loans disbursed on or after July 1, 2026, the bill eliminates the income-driven repayment plans (IBR, PAYE, SAVE) and replaces them with a new Repayment Assistance Program (RAP).
• Students who borrowed loans before July 1, 2026, and borrow again after July 1, 2026, are limited to the new RAP or the standard plans. All loans must be paid under the same repayment plan.
• RAP borrowers will not be locked into a 30-year plan. They can switch to a standard plan, which ranges from 10 to 25 years.
• Borrowers with no new loans made on or after July 1, 2026, are eligible to enroll in the current Standard Income Based (IBR), Graduated, and Extended repayment plans, and could also opt in to the new RAP.
• Borrowers enrolled in ICR, PAYE, or SAVE plans must transition to a new repayment plan by July 1, 2028. If no selection is made by that date, they will be moved into RAP.

What is the difference between a graduate student and a professional student?

• The term “graduate student” is defined as a student enrolled in a program of study that is above the baccalaureate level and that awards a graduate credential (other than a professional degree) upon completion of the program.
• The term “professional student” is defined as a student enrolled in a program of study that awards a professional degree upon completion of the program. A professional student may not receive federal student aid as an undergraduate student for the same period of enrollment.

What is a professional degree?
The term “professional degree” is defined as a degree that signifies

• completion of the academic requirements for beginning practice in a given profession and
• a level of professional skill beyond that normally required for a bachelor's degree.

A professional degree is generally at the doctoral level and requires at least six academic years of postsecondary education to complete, including at least two years of post-baccalaureate coursework, as well as generally requiring professional licensure to begin practice in the intended field.

The degree must be in the same group as one of the following professional degrees:

• Pharmacy (Pharm.D.)
• Dentistry (D.D.S. or D.M.D.)
• Veterinary Medicine (D.V.M.)
• Chiropractic (DC or DCM)
• Law (L.L.B. or J.D.)
• Medicine (M.D.)
• Optometry (O.D.)
• Osteopathic Medicine (D.O.)
• Podiatry (D.P.M, D.P., or Pod.D.)
• Theology (M.Div. or M.H.L.)
• Clinical Psychology (Psy.D. or Ph.D.)

Federal regulations require that all student borrowers who graduate, withdraw, or drop below half time enrollment complete Loan Exit Counseling. Always notify your servicer of your current address, phone number and contact information in a timely manner. The Federal Student Aid website has the most current contact information for the Holder/Servicer of your loan(s).

Schedule one-on-one Entrance or Exit Loan Counseling with a Financial Aid Specialist