Administration Building, Room 212
2200 Bonforte Blvd.
Pueblo, CO 81001-4901
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 loans.
These 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
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
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!).
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.
The following definitions may help you in understanding common terms
associated with borrowing and student loans -
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.
Combining one’s loans by the process of selling and transferring
all loans to one holder.
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.
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
Agency: A state or private non-profit
agency that administers a student loan insurance program.
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%.
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.
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.
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: 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
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.
The process of bringing a loan out of default and removing the
default notification from the credit report.
Options: Loans are typically required to be
repaid within 10 years; however, you may contact your loan servicer
to inquire about other repayment options.
The entity designated to track and collects a loan on behalf of the
Other (non-federal Title IV) Loan Programs
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