Loans

Financial Aid

Administration Building, Room 212

2200 Bonforte Blvd.

Pueblo, CO  81001-4901

Voice:  719-549-2753

Fax:  719-549-2088

Email:  financialaid@csupueblo.edu

 

The U.S. Department of Education administers and oversees several loan programs designed to offer low-interest funding to students and their parents who need to borrow money to cover the costs of education - including Federal Direct subsidized and unsubsidized loans, Federal Direct PLUS loans, and Perkins loansThese federal loans have fixed interest rates, consumer protections, and flexible repayment options not available with any other loan program. 

Financial Awareness Counseling Tool

The Financial Awareness Counseling Tool allows students to personalize five interactive modules about loans, budgeting, repayment, default, and financial planning.  To import your personal information you will need to log in with your FAFSA four-digit PIN.  Once logged into the site, select "Complete Counseling" and follow the prompts.  FACT is not required, but is encouraged to provide you with additional information regarding successful repayment of your federal student loans.  
 

Before You Borrow

It is also important to take starting salaries into account when determining how much student loan to utilize.  Take the time to research and utilize resources available to help make a reasonable assumption as to what potential earnings could be in a chosen field or profession.

SALT Logo

CSU-Pueblo has teamed with American Student Assistance to bring the SALT program to campus. SALT is free for our students and alumni and provides financial literacy modules, scholarship searches, internship and job searches, and discounts from partner companies. Once registered with SALT, you can also import your actual loan information from the National Student Loan Data System (see below) and review what your payments would be with the various repayment plans available. You can also estimate what your payment would be if you were to add additional loans, in case you are considering borrowing again. Finally, you have access to expert loan counselors if you have ever have questions about your student loans or repayment options (again, all for free!).
Sign up now at www.saltmoney.org/csupueblo.
 

National Student Loan Data System

Students can view their federal loan history at any time 24/7 through the National Student Loan Data System. You will need your PIN (the same used to sign your FAFSA and Master Promissory Note) to log into the system. For questions regarding NSLDS, please contact the Federal Student Aid Center at 1-800-4FED-AID.

 

Important Definitions

The following definitions may help you in understanding common terms associated with borrowing and student loans - 

  • Capitalization:  Adding interest that has accrued onto the principal balance. Subsequent interest then begins to accrue on the new principal. Capitalization occurs primarily with unsubsidized loans where the borrower has the option to pay on the interest while in school or have the interest capitalized when the loan goes into repayment.
  • Consolidation: Combining one’s loans by the process of selling and transferring all loans to one holder.
  • Default:  Status assigned to a loan when monthly payments are more that 270 days overdue. This status will significantly affect credit status and will make students ineligible for future Title IV funding.
  • Deferment:  Period of time (under specific conditions) to postpone repayment of student loans without cost or penalty.
  • Disbursement:  The release of loan funds to the school.
  • Entrance Counseling:  A requirement that must be completed prior to receive the first disbursement of a federal education loan.  Your rights, responsibilities, loan terms, and loan conditions will be reviewed.  This can be completed online.
  • Guarantee Agency:  A state or private non-profit agency that administers a student loan insurance program.
  • Guarantee Fee:  A fee charged for guaranteed student loans that is actually default insurance and is deducted from the loan amount.  This fee will not exceed 1%.
  • Forbearance:  Period of time when loan payments can temporarily cease due to hardship, but interest will continue to accrue. Most forbearances are granted at the discretion of the lender or service agency.
  • Grace Period:  Six to nine-month period from the date of graduation, withdrawal, or a drop below half-time status to the beginning of the repayment period.
  • Master Promissory Note:  A note that is good for 10 years at CSU –Pueblo from the time the note is signed. The amount of loan you borrow each year will be indicated on your award letter and each loan will require certification by our office.
  • Ombudsman Office:  An office created by the Department of Education to assist student loan borrowers to resolve loan disputes and problems. The Ombudsman Office may be contacted by:
  • Origination Fee:  This fee may be charged to borrowers by the lender. The lender is required to pay this fee to the federal government to help reduce the costs of the program. The percentage is determined by federal law.
  • Rehabilitation:  The process of bringing a loan out of default and removing the default notification from the credit report.
  • Repayment Options:  Loans are typically required to be repaid within 10 years; however, you may contact your loan servicer to inquire about other repayment options.
  • Servicer:  The entity designated to track and collects a loan on behalf of the lender.

Other (non-federal Title IV) Loan Programs

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