HACC’s admissions application system is scheduled to be upgraded Oct. 4-9. During this time, future students will not be able to submit an admissions application. Please visit start.hacc.edu to learn more. Thank you for your patience.
Loans can be a crucial part of a student’s financial aid award. Unlike grants and scholarships, student loans need to be repaid with interest. Students should only borrow as much as they need to cover their educational expenses.
There are two types of loans: Federal Direct Loans and alternative loans.
Federal Direct Loans are issued by the U.S. Department of Education rather than a bank or other financial institution. They include Subsidized Loans, which do not accrue interest during your education, and Unsubsidized Loans, which begin accruing interest immediately. Federal Direct Loans are low-interest loans and can bridge the gap between how much you receive in grants and scholarships and the total cost of your education.
Alternative loans can help pay the remaining costs of college when all other types of financial aid (grants, loans and work programs) are not enough. Alternative loans are a last resort and should be utilized only after all other financial aid resources have been exhausted. HACC does not promote any specific lender recommendations. We encourage you to research interest rates, customer service, borrower benefits and repayment incentives for various lenders.
There are limits on how much a student can borrow under the Federal Direct Loan programs. Please see this webpage for details.