… meet eligibility standards to work within the LACCD. Check with your college's Financial Aid Office. … Student Loans (Aid that you must pay back) … A caution about student loans – It takes time for a loan application to be processed by the school, … and demonstrate financial need according to the federal formula in order to be eligible for subsidized direct loans. Under this program: The federal government will pay the interest on behalf of qualified borrowers for as long as the borrower is … your award will be held in reserve for up to three years until you transfer to a bachelor’s degree program. Cal Grant B Provides subsistence payments for new recipients in the amount of $1,648 for a full-time, full year award. Payments are …