Federal Loans

Federal Direct Loans

The deadline to submit a Summer Direct Loan application is July 1
The  deadline to submit a Fall-only Direct Loan application is November 30 (if scheduled to graduate at end of semester, or will not re-enroll  in Spring for at least 6 credits)
The deadline to submit a Fall-Spring Direct Loan is April 15

The William D. Ford Direct Loan is the primary loan program utilized by CSI students. To apply you must complete the loan application provided by CSI, be matriculated, carry at least six credits each term, and file the FAFSA each year.   Direct Loans can be either subsidized or unsubsidized, and the variable interest rate is guaranteed to go no higher than 8.25%. Subsidized loans are based on financial need and no interest is charged as long as you maintain continuous half-time enrollment (six equated credits). Unsubsidized loans are not need-based and interest is charged to you from the time the loan is disbursed. Repayment of Direct Loans begins six months after you graduate, withdraw from school or drop to less than half-time status, and Exit Counseling is required. Additional information including current interest rates can be found at studentaid.gov.

Application process for First-time CSI borrowers:

• Sign a Master Promissory Note
• Complete Entrance Counseling and print out the results of entrance exam.
• Complete the CSI Direct Loan Application.  

Direct (Parent) PLUS Loans allow parents with good credit ratings to borrow up to the cost of their child's education, minus any financial aid the student is receiving.  These loans are not need-based, but students who have parents wishing to take a PLUS Loan must file the FAFSA. Direct PLUS Loan Applications are available directly from the Office of Student Financial Aid or on the Forms page under “Direct Loan Forms”.

Alternative or Private Loans

Alternative or Private loans are offered through private lenders and are meant to provide additional educational funding only after a student and families have exhausted all other sources of funding such as federal and state aid. These loans are not guaranteed by the federal government and may carry high interest rates and origination fees. All Private lenders will review the borrower's credit history and some may require a co-signer. The Office of Financial Aid does not endorse or recommend any particular alternative loan program or any particular private lender. Students can use any lenders or view and compare private loan options that works best for you. Learn more about private loans here. 

Cohort Default Rate

A cohort default rate is the percentage of a school's student borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1st to September 30th, and default or meet other specified conditions prior to the end of the second following fiscal year. Please refer to the Cohort Default Rate Guide for a more in-depth description of cohort default rates and how the rates are calculated.

CSI Student Loan Cohort Default Rate:

FY 2019 Cohort Default Rate is 2.7%
FY2020 Cohort Default Rate is 0%
FY2021 Cohort Default Rate is 0%

FY 2020 National Cohort Default Rate average is 0%. Average National Student Loan Cohort Default rate can be found here.

* Official Cohort Default Rates
* OPEID:002698

Federal Perkins Loans

Exit interviews are required of all recipients who fall below six equated credits, graduate or leave school. Loans may not be given to students who have previously defaulted or owe a Title IV repayment.