Although California College of the Arts may have determined that you and, if applicable, your parent(s) are eligible to borrow a Perkins, Direct Loans, or PLUS loan, you are under no obligation to accept any loan.

Declining a loan will neither jeopardize other financial aid offered to you nor will it prevent you or your parent(s) from borrowing later in the term or in the future.

An educational loan is a serious financial obligation and must be repaid.

Defaulting on any loan will seriously damage your credit rating. Complete information on educational loan repayment is available within the Financial Aid Office.

If you received Federal Direct Loans as a CCA student, there are specific requirements you must complete when you

• graduate from school;
• drop below half-time enrollment status;
• take a leave of absence;
• withdraw from school

Borrowers of subsidized or unsubsidized loans under the Direct Loan Program must complete Exit Loan Counseling as required by The United States Department of Education. To meet the exit counseling requirement, complete the online Exit Counseling session.

You will need your FSA ID to complete the online exit counseling session and to document you have completed the session. If you have forgotten your FSA User ID or password, you may request the information be re-sent to you by visiting https://studentaid.gov/ and selecting “LOG IN” in the upper right corner. It will take approximately 30 minutes to complete this exit counseling. Loan Exit Counseling is required even if you plan on enrolling in graduate work upon completion of your degree.

Complete Loan Exit Counseling as soon as possible after receiving loan exit notification from CCA Financial Aid. The Financial Aid Office will receive an electronic confirmation once you have completed the Exit Counseling.

Grace Period & Loan Repayment Assistance

CCA partners with Inceptia, a nonprofit organization, to provide you with additional loan counseling after attending CCA and assist students in loan repayment.

Counselors from Inceptia might contact you via phone or email on behalf of CCA.

If you have any questions, please reach out to the Financial Aid Office.

Identifying Your Federal Student Loan Servicer

The following are loan servicers for loans that the U.S Department of Education (ED) owns. To find out who your loan servicer is,

• visit your Federal Student Aid account dashboard and scroll down to the “My Loan Servicers” section, or
• call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243.

References

Repayment: What to Expect

Student Loan Repayment Options