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Financial Aid Office

Subsidized/Unsubsidized Loans

If you are awarded a Stafford Subsidized or Unsubsidized Loan, listed below are Federal Policy requirements that you will need to be aware of. Please review the following:


  • Loan funds are disbursed in two separate installments per semester.  First disbursement will be applied 30 days after the start of the semester.  The second disbursement will be applied after the mid-point of the semester.  Any remaining balance of loan funds, after tuition, fee, book and supply charges are paid, will be mailed to your address on file with the College.
  • If at any time before your loan funds are disbursed you wish to cancel or reduce the amount of your loan(s), you must complete the Loan Modification/Cancellation Request in your MyDelta account.  If no request is received to cancel or reduce your loan, this is your affirmative confirmation that you accept your loan(s).
  • You must be registered and in attendance of a minimum of six credit hours.
  • Loans will be adjusted based on the actual credits you enroll for and attend.
  • The loan award amount shown on your award letter is the gross amount. Students with Direct Stafford Loans are charged an origination fee.
  • You are responsible to ensure the net amount of your loan is enough to cover tuition and fees.  If there is a balance owed, it must be paid in full by payment deadline.
  • If you drop below six credits and have received your loan funds, your loan(s) will go into repayment after six months. In-school deferment can continue if you re-enroll in a minimum of six credits during subsequent semesters.
  • If you completely withdraw during a semester and you have not completed more than 60% of the semester or your instructor reports you never attended your class(es), the Financial Aid Office will proceed with a Title IV refund calculation. The amount of aid is determined on a prorated basis.  If you have received more aid than you have earned, excess aid is returned back to the programs and you will be responsible for immediate repayment of these funds.
  • You must meet all Delta College Financial Aid Satisfactory Standards of Academic Progress (SAP) policies.
  • Delta College will not authorize late disbursements after the end of the loan period.
  • You can access information regarding your Federal student loans at NSLDS.  You will need your federal pin number to access this site.
  • Loan amounts are limited per academic year.  It is possible to reach your maximum eligibility in one semester for the current academic school year and have no remaining eligibility or a reduced amount available for your next semester.
  • Once loan funds are disbursed you will receive an email indicating the amount of the net disbursement to your student account.

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