Tools:

Student Loan Programs & Debt Management

Before you make the decision to borrow money for your education, take time to learn more about loan borrowing and debt management, so you can borrow wisely. Useful tools for budgeting, loan calculators and more, allow you to save money, time and frustration.

The Yavapai College Financial Aid Office has adopted and abides by the Arizona Student Loan Code of Conduct and the
NASFAA Ethical Principles and Code of Conduct.

Loan Calculator

How much can you afford to borrow? Will your annual salary support your loan balance after you are out of school? Get some insight by using this loan calculator.

Student Budgeting

Are you spending within your means? Is your income and expense balanced? Just for fun, you might want to challenge yourself and try sticking to a budget. See where you stand with this budgeting tool.

Now that you have spent some time preparing to borrow, let’s talk about the different federal student loan programs for Yavapai College Students.

Student Loan Definitions

Standard Repayment
  • Fixed monthly payment amounts are paid over a specific period of time
  • Your monthly payment must be at least $50 per month
  • Repayment period cannot exceed 10 years
Graduated Repayment
  • Payments are smaller at the beginning of the repayment period and gradually increase over time
  • The repayment period is generally 10 years
  • Payment must cover at least the interest due
Extended Repayment

This option is only available to borrowers whose loans were taken out on or after October, 1998, with a FFEL loan balance greater than $30,000 You can select either a standard or graduated extended repayment plan The repayment term cannot exceed 25 years

 
Income-Sensitive Repayment
  • Payments are adjusted annually based on your monthly gross income
  • The payment amount must cover at least the interest due
  • The repayment term cannot exceed 10 years
Loan Consolidation

A consolidation loan allows you to combine any or all of your outstanding federal student loans into a single new loan. When you sign a consolidation loan application, you are agreeing to new terms and conditions. Be sure loan consolidation is right for you by contacting the lender of your loan.

Rehabilitating Your Loan

Loan rehabilitation is your best option for restoring good credit. You must make 12 consecutive, voluntary, on-time monthly payments. The payments you make must be reasonable and affordable, but typically must at least cover accruing interest and collection costs. Once your loan is rehabilitated and purchased by a new lender, your default will be deleted from your credit report and you will regain all the benefits you had on the loan prior to your default.

Financial Aid News & Updates


Recent Changes to SAP

The Satisfactory Academic Progress (SAP) policy for financial aid recipients will change at the end of the Spring 2012 semester. This change is due to new federal regulations. Click the graphic to learn more.

Financial Aid Status

Wondering about the status of your financial aid? Log into myYC and click on "My Financial Aid" to see up-to-date information.

Online Payment Plan

Yavapai College offers an online interest-free monthly payment plan. There is a $25.00 non-refundable set up fee required per semester. Log into myYC and click on "My Bills & Payments" to enroll.

Contact Us

  • Verde Financial Aid
  • Verde Fire Training Center
    1350 W. Mingus Ave, Cottonwood
  • Mon - Thurs, 8am - 5pm
  • Telephone (928) 634-6502
  • Fax (928) 634-6594