Loans - The Basics

The North Idaho College Financial Aid Office is committed to assisting students in paying for their education while assuming as little debt as possible. Because students must repay loans, our office will determine a student's maximum eligibility for the loan that offers the best interest rate. In almost every case, this will be the Subsidized Loan. If students would like to be considered for an Unsubsidized Loan after their initial award has been determined they must complete additional tasks to qualify which can be found in their award letter email.


Maximum Subsidized Loan Amounts

Subsidized: Per federal regulations, the Financial Aid Office awards the maximum subsidized loan at the time of the initial award package.  However, if you have been awarded at a freshman level and during the academic year you progress to a sophomore status, you may be eligible to receive additional funds.  You must request this by filling out a Request for Change form and submit it to the Financial Aid Office.

Freshman (25 or less completed credits): $3,500

Sophomore (26 or more completed credits): $4,500 

Maximum Unsubsidized Loan Amounts

Unsubsidized: The Financial Aid Office does not award the unsubsidized loan with the student’s initial award package.  If you would like to request an unsubsidized loan or an increase to your existing unsubsidized loan, please refer to your original notification of award email.  

Dependent: $2,000

Independent: $6,000

Direct Loan Interest Rates

Click the link for more information on student loan interest rates.

Parent PLUS Loan

For more information regarding PLUS Loans please click the following link.

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