Loans
Student loans are a major source of financial aid for many students. All loans, including student loans, represent debts that must be repaid; however, most student loans do not go into repayment until after you leave school or graduate. In addition to delayed repayment, most student loans have relatively low interest rates, several repayment options from which to choose, circumstances under which you can postpone repayment, and other favorable terms and conditions. Student loans can be thought of as an investment in your future as long as you are prepared to meet your repayment responsibilities. Failure to repay your student loans will have serious adverse consequences.
It is true that most students would prefer not to borrow; but student loans represent the largest source of financial aid assistance available to students today. Building a budget is one of the most important aspects of student loan borrowing. When borrowing, it is important to carefully plan your budget so that you only borrow what you need, keep track of the total amount borrowed each year, and have some idea as to how you will pay your loans back when the time comes. The Loan Estimator and Repayment Calculator are two electronic tools that can help you with this task. These are available on our Financial Aid Calculator Page. In addition, the Career Services Office can provide you with information concerning entry level salaries in most fields.
At California University, the federal government funds nearly 95% of all loans processed. Over 50% of all financial aid awarded at California University comes from the Federal Stafford Loan Programs.
Please Note:
When applying for a Federal Stafford, Federal PLUS, and/or Alternative Loan, our office suggest that your requested loan amount be based on what you will need to cover expenses (university and non-university charges) for the entire academic year, not just one semester. This will eliminate delays and provide you with an accurate billing statement from the Bursar Office each semester.