LOAN COUNSELING CHECKLIST

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "2015-2016 LOAN COUNSELING CHECKLIST"

Transcription

1 LOAN COUNSELING CHECKLIST You must abide by the requirements set forth in your Master Promissory Note. The interest rate for subsidized and unsubsidized loans is 4.29% with a 1.073% processing fee. You must remain in at least 6 credit hours to be eligible for your student loan. When you fall below 6 credit hours or withdraw from school you will have a 6 month grace period before repayment. You must repay your loan, including all accrued or capitalized interest, as well as fees that you have incurred. There are many repayment plans to choose from and one should be right for you. If you are having difficulties making your payments the first thing you should do is contact your loan servicer. To find out who services your loan go to and click on financial review. You will need your FSA ID to log-in. You understand that you are legally obligated to pay back your loan if: o You do not graduate or complete your education. o You cannot find employment. o You are not satisfied with the education or other services you received from your school. o Your loan is sold to another company. If you do not repay your loans, you will be in default, and the following actions may be taken against you: o The entire amount of your loan, including accrued interest and late fees, will become immediately due and payable. o Your default will be reported to all national credit bureaus. o You will no longer qualify for deferment or forbearance options. o Legal action can be taken against you. You could then be responsible for all attorney fees and court costs. o Your wages can be withheld (garnished) to pay the loan balance. o Your federal and state tax refunds can be withheld to pay the loan balance. o If your profession requires a license to practice, you can be denied renewal of your professional license until you have made satisfactory arrangements to repay your loan. You understand that you must complete exit counseling before you graduate from school or drop below half-time status. The process allows you to fully understand your rights, responsibilities, and repayment options before you begin making payments on your loan. Exit counseling is completed at Before you withdraw from classes, let someone in financial aid know. You have to complete at least 67% of ALL classes attempted and maintain a 2.0 CGPA. If you fall below 67% completion or your CGPA is below 2.0 you will be placed on a Financial Aid Warning semester. On a warning semester you are still eligible for your financial aid. If you are on a warning semester and you drop classes or fall below the 2.0CGPA, the next semester you will be placed on Financial Aid Suspension. On Financial Aid Suspension you are not eligible for any Title IV funding unless you complete the appeal process and your appeal is approved. At ECC our student loans are in two disbursements. o If you drop below 6 hours before the first disbursement your loan will be cancelled. o If you drop below 6 hours before the second disbursement, we will cancel your second disbursement and you will not be eligible for the complete award amount for the semester. o If you apply for a Fall/Spring loan and drop below 6 hours in the fall your spring loan will be cancelled. To receive a student loan in the spring semester, after it has been cancelled, you will need to reapply. Check Dates: Fall 2015 Spring 2016 Summer /18/15 2/19/16 7/1/16 10/16/15 3/18/16 Bookstore Charges: 7/29/15-9/4/15 TBD TBD Remember: tuition, fees & bookstore charges will be paid BEFORE you receive a refund. First check includes all funding on your account and ½ of the loan amount minus the processing fee. Second check includes the second ½ of the loan amount minus the processing fee. Average loan debt for Fall 2014 ECC Graduates: $13,149 Updated: 3/26/15

2 EXIT COUNSELING CHECKLIST You have been shown average anticipated monthly payment amounts for student loans and have been provided with information regarding debt management strategies. Multiple payment plans may be available to you. o Standard Repayment Plan: It s the fastest and most convenient repayment plan. You will have the same payment every month for 10 years. Minimum payment is $ o Graduated Repayment Plan: This plan allows for lower payments to start, which gradually increase over time. o Extended Fixed Repayment Plan: If you have more than $30,000 in outstanding FDLP (Federal Direct Loan Program) or FFEL (Federal Family Education Loan Program) Loans, this plan allows you to extend the repayment term up to 25 years for those programs for which your balance exceeds $30,000. o Extended Graduated Repayment Plan: If you have more than $30,000 in outstanding FDLP (Federal Direct Loan Program) or FFEL (Federal Family Education Loan Program) Loans, this plan allows you to extend the repayment term up to 25 years for those programs for which your balance exceeds $30,000. o Pay As You Earn Repayment Plan: Pay As You Earn is an income-driven repayment option that considers income and family size and offers lower monthly payments to those who are eligible. Under this plan, we calculate your reduced monthly payments by using your adjusted gross income and family size. If you're married and file a joint federal income tax return, we will include your spouse's income as well as their eligible student loan debt, if applicable. This plan differs from other income-driven repayment plans in that loan forgiveness is granted after 20 years of qualifying payments instead of 25 and is calculated based on 10% of your income. Only direct loans are eligible. o Income-Based Repayment Plan (IBR): Under this plan, your monthly payments are based on your adjusted gross income and family size. If you're married and file a joint federal income tax return, your spouse's adjusted gross income, and eligible student loan debt, if applicable, is also taken into consideration. o Income-Contingent Repayment Plan (ICR): ICR calculates your monthly payments based on your adjusted gross income (and your spouse's income, if you're married), family size, and the total amount of your eligible loan debt. Only direct loans are eligible. You will be able to access a payment schedule for your student loans that includes information about your servicer and details of your loan including the loan balance, interest rates, fees, and amount and number of payments. You may repay all or part of your loan without penalty. You should contact your servicer immediately if you are having problems making your payments. You may apply for deferment (postponement) of your loan payment, and you understand that you may or may not qualify for deferment options. Contact your servicer for details on various options. You may request forbearance from your lender or servicer if you are not able to make payments but do not qualify for deferment. Your servicer will determine if you will receive the forbearance. You may obtain a full or partial forgiveness or discharge of your loan depending on your specific circumstances. It is your responsibility to inform your servicer within 10 days if you: o Change your address, phone number, name or Social Security Number o Change your expected employer o Withdraw from school or drop below half-time status o Change your anticipated graduation date o Re-enroll in school or transfer to another school You will be notified in writing if your loan is transferred, and you understand that upon transfer, you must correspond directly with the new servicer. You can access your complete loan history from the National Student Loan Data System (NSLDS) at You will need your FSA ID to log in. You can contact the Federal Student Aid Ombudsman s office at if you have problems with your loan that cannot be resolved through regular channels. You may be eligible to consolidate your loans if you have more than one servicer. You need to complete the exit counseling requirement online at and contact ECC at when it is completed. Average loan debt for Fall 2014 ECC Graduates: $13,149 Updated: 3/26/15

3 LOAN CHECKLIST Student ID _ Returning ECC Student Loan Borrower IF YOU FAIL TO COMPLETE ALL REQUIRED INFORMATION ON THIS CHECKLIST, YOUR LOAN REQUEST WILL BE REJECTED. Returning Student Loan Borrowers Must: Complete the Free Application for Federal Student Aid (FAFSA) This application will be used for the Fall 2015, Spring 2016 and Summer 2016 terms. Have all requested documentation submitted to the financial aid office (ex: verification forms, high school transcripts, college transcripts, etc.). Register for a minimum of 6 credit hours for the terms the loan is requested. You must be registered as a degree seeking student in order to receive any type of financial aid. Complete and sign the Student Loan Data Sheet and return it to the Financial Aid Office. Make sure the data sheet is entirely complete to ensure timely processing of your application. Create an account on the USA Funds Life Skills (Life Skills) website. For instructions, see the Life Skills Student Guide. Complete Lesson 103: What Do I Need to Know About Repaying My Student Loans? on the Life Skills website. Please provide your transcript as proof of completion. Go back to the Main Menu then click on My Transcript (left side) then Print (right side). It is very important that you read and understand the information you receive concerning your student loans. Keep everything in an easily accessible place for future reference. Mail all student loan documents to: East Central College Student Loan Officer 1964 Prairie Dell Road Union, MO Fax all student loan documents to: You can also turn in the completed forms at the Union, Sullivan or Rolla Campus. If you have any questions, please call or

4 Student ID _ Federal Direct Student Loan Data Sheet Returning ECC Student Loan Borrower Applications will be processed in the order they are received, contingent upon completion of all other application requirements. Personal Information: Student s Full Legal Name: Address: _ City, State, Zip: SSN: Phone #: () _ Date of Birth (mm/dd/yyyy) An will be sent to your school address once your loan has been processed. Look for information about your servicer and some helpful hints. Loan Period: When possible, it is to your benefit to apply for the full year (fall & spring). Summer is always a separate application. _ Fall & Spring _ Fall Only _ Spring Only _ Summer Estimated credit hours enrolled for each semester: _ Fall _ Spring _ Summer You must be in at least 6 credit hours every semester to receive your student loan. Federal Regulations require that your summer loan award does not exceed your total annual eligibility. If you borrow your maximum annual eligibility for fall & spring semester, you will not be eligible for a summer loan. Requested Loan Amount: Please indicate your requested loan amount below. We recommend that you always borrow conservatively. We will always process subsidized loans first; if you do not qualify for a subsidized loan, we will automatically process an unsubsidized loan. Sophomore students have completed more than 30 credit hours. LOAN LIMITS FRESHMAN <30 Credit Hrs Completed SOPHOMORE >30 Credit Hrs Completed Fall & Spring Maximum Dependent: $5,500 Dependent: $6,500 Independent: $9,500 Independent: $10,500 Fall Only/Spring Only Maximum Dependent: $2,750 Dependent: $3,250 Summer amounts vary on eligibility Independent: $4,750 Independent: $5,250 Requested Loan Amount: $ The Financial Aid Office will use the information you provided on the FAFSA and other aid you are receiving to determine your eligibility. Your requested amount may be more than what you qualify for. If that happens we will give you the maximum eligibility. Certifications and Signature: I have a bachelor s degree and I know I can only receive UNSUB loans: _ Yes _ No I have completed my Life Skills lesson and turned in my transcript: _ Yes _ No I certify that I have read and understand the Loan Counseling Checklist and I have completed all requirements indicated on the Loan Checklist and on this Student Loan Data Sheet. I understand the processing this loan may take as long as business days. I also understand that this loan request will be rejected if I have not completed all of the requirements. Student Signature of Legal Name: Date: _ Average loan debt for Fall 2014 ECC Graduates: $13,149

5 USA Funds Life Skills Student Guide East Central College, Returning ECC Loan Borrowers Through your school, you now have access to USA Funds Life Skills, a free online learning program that offers you advice for managing your time and money wisely while on campus and after graduation. This Student Guide provides basic information about the tool and outlines the steps necessary to access and complete the lesson(s) that your school has assigned to you. Log in. New users are required to complete a simple, one-time registration process. Once you complete the initial registration process, only your username and password are required for future visits. 1. Open your browser and go to o Helpful hint: Save this address as a favorite to simplify access for future visits. 2. Click Request a new account in the Login box to create your account. 3. Complete all of the information on the Request Account page. Some fields require the school defined information listed below. o Enter your school address as your username. o Enter the student ID number assigned to you by your institution as your school-assigned student ID. o Enter as your School Code. Note: This code must be entered exactly as shown here. o Enter as your Student Access Code. Note: This code must be entered exactly as shown here. 4. Click Create Account in the lower right corner to create your account. o Note: If you forget your password on future visits, click Forgot your password? in the Login box to receive an containing your password to the address you provided when you created your account. Get started. To access and complete the lessons, follow these steps: 1. Select My Catalog from the left navigation menu or select the My Catalog tab at the top of the page. 2. Click on the name of a lesson and click Enroll on the right side of the screen. o Lessons can be completed in any order. If you are unable to complete a lesson in one visit, you can return to it at any time and continue where you left off. Click the name of the lesson under My Learning on your Home page to return to the in-progress lesson. 3. Click on the name of the lesson again under OLT Lessons to begin the lesson. o Note: Your computer settings must be set to allow pop-ups to access the lesson. The lessons also contain sound so you may want to use headphones. 4. Click Next to advance through the lesson. 5. Complete the Lesson Challenge quiz at the end of the lesson. You must achieve 70 percent or higher to pass the lesson. Once achieved, your score will be recorded on your transcript as well as your school s weekly report. (See next section for transcript information.) o Scroll to the bottom of the Lesson Challenge results and click Print to print your quiz results. 6. Click Ok to close your quiz results and click Close Window to exit the lesson. 7. Click USA Funds Life Skills Survey under Course Activities to complete a brief survey about the lesson. 8. Click the Home tab to return to the Home page. 9. Repeat the previous steps until you have completed all of the lessons assigned to you. You can review the lessons and retake the Lesson Challenges to improve your score at any time by navigating to the lesson through the course catalog. Find your assigned lesson on the back of this page.

6 Your school has assigned the following lesson(s) to you: 103 What Do I Need to Know About Repaying My Student Loans? See your results. A printable transcript of your lesson activity is available at any time. 1. Click My Transcripts in the left navigation menu. o Your transcript will provide details about any lesson in which you have enrolled, including completion status, registration date, completion date and final assessment score. 2. You have the option to print or export your transcript. o Click Print in the upper right corner to print your transcript. o Click Export in the upper right corner, choose an export format and click Export to create an electronic version of your transcript. Complete multiple assignments. If you are assigned multiple lessons from different staff (for example, one group of lessons from the financial aid office and another group of lessons from a professor), you will need to enter additional access codes to your account. This is required for your lesson completion results to be accurately reported to those who assigned the USA Funds Life Skills lessons to you. 1. Click My Account in the left navigation menu. 2. Enter the additional code(s) in the available Student Access Code fields. o Note: If you override an existing code with a new code, your completion results no longer will be reported to the person who provided the existing code. 3. Click Update. Get help. For assistance, use the Contact Us link or call USA Funds Customer Support, Monday through Friday, between 8 a.m. and 8 p.m. Eastern time at (800) After these hours, support is available at (866) Revised 1/2012

Student Loan Guide And Loan Request Form 2014-2015

Student Loan Guide And Loan Request Form 2014-2015 THE LOS ANGELES COMMUNITY COLLEGE DISTRICT Student Loan Guide And Loan Request Form 2014-2015 2014-2015 Student Loan Guide and Request Form Page 1 LACCD and West Los Angeles College Loan Philosophy As

More information

Financial Aid Student Loan Guide 2013-2014

Financial Aid Student Loan Guide 2013-2014 THE LOS ANGELES COMMUNITY COLLEGE DISTRICT Financial Aid Student Loan Guide 2013-2014 City East Los Angeles Harbor Mission Pierce Southwest Trade-Tech Valley West Los Angeles 2013-2014 Student Loan Request

More information

Federal Direct Stafford Loan Request Form for 2015-16

Federal Direct Stafford Loan Request Form for 2015-16 Federal Direct Stafford Loan Request Form for 2015-16 Name: G#: Address: City: State: ZIP: Phone: Email: Stafford Loan Requirements and Acknowledgements We strongly recommend that you borrow loans conservatively

More information

Office of Student Financial Aid Direct Stafford Loan Processing Information

Office of Student Financial Aid Direct Stafford Loan Processing Information Montgomery College endless possibilities Office of Student Financial Aid Direct Stafford Loan Processing Information Attention all first-time borrowers at Montgomery College. In order for your loan proceeds

More information

STUDENT LOAN REPAYMENT

STUDENT LOAN REPAYMENT STUDENT LOAN REPAYMENT Chase College of Law Financial Aid Presentation April 14 th, 2011 TOPICS TO BE COVERED General Repayment Information Loan consolidation Repayment Plans Public service loan forgiveness

More information

NAVIGATING LOAN REPAYMENT

NAVIGATING LOAN REPAYMENT NAVIGATING LOAN REPAYMENT Navigating Loan Repayment Agenda Federal Loan Exit Counseling Basics of Student Loan Repayment Federal Repayment Plans Other Repayment Considerations Helpful Links Question and

More information

ENTRANCE COUNSELING GUIDE

ENTRANCE COUNSELING GUIDE ENTRANCE COUNSELING GUIDE For Direct Loan Borrowers Contents Direct Loan Types 1 Borrow Wisely 2 Borrow Direct Subsidized Loans and Direct Unsubsidized Loans First 2 You Must Repay Your Loans 3 Use of

More information

Student Guide. Default Prevention & Management Plan

Student Guide. Default Prevention & Management Plan Student Guide Default Prevention & Management Plan WHAT EVERY STUDENT BORROWER NEEDS TO KNOW. Before you borrow please read this. It does not matter if you have already borrowed on a student loan or if

More information

2016-2017 DIRECT LOAN APPLICATION PACKET STEPS TO COMPLETE FOR A DIRECT STUDENT LOAN

2016-2017 DIRECT LOAN APPLICATION PACKET STEPS TO COMPLETE FOR A DIRECT STUDENT LOAN 21193 Malta Rd, Malta IL 60150-9699 815-825-2086, ext. 2240 TTY: 815-825-9106 Fax: 815-825-2968 finaid@kishwaukeecollege.edu 2016-2017 DIRECT LOAN APPLICATION PACKET The purpose of the Direct Loan Application

More information

A Guide to Completing Federal Direct Stafford Loan Entrance Counseling. Logging into the website with the FSA ID and password

A Guide to Completing Federal Direct Stafford Loan Entrance Counseling. Logging into the website with the FSA ID and password A Guide to Completing Federal Direct Stafford Loan Entrance Counseling Updated: May 2016 All students taking out Direct Subsidized Loans and/or Direct Unsubsidized Loans, who have not previously received

More information

STUDENT LOAN DEBT MANAGEMENT

STUDENT LOAN DEBT MANAGEMENT STUDENT LOAN DEBT MANAGEMENT For Social Work & Public Health Professionals Looking Ahead Your investment in your education at the Brown School at Washington University is an asset which will serve you

More information

2015-2016 DIRECT LOAN APPLICATION PACKET

2015-2016 DIRECT LOAN APPLICATION PACKET 21193 Malta Rd, Malta IL 60150-9699 815-825-2086, ext. 2240 TTY: 815-825-9106 Fax: 815-825-2968finaid@kishwaukeecollege.edu 2015-2016 DIRECT LOAN APPLICATION PACKET The purpose of the Direct Loan Application

More information

Repaying Your Student Loan. Florida Coastal School of Law

Repaying Your Student Loan. Florida Coastal School of Law Repaying Your Student Loan Florida Coastal School of Law Workshop Objectives At the end of the workshop you will understand: What options are available during repayment What education-related tax incentives

More information

EXIT COUNSELING GUIDE FOR BORROWERS OF DIRECT LOANS AND FEDERAL FAMILY EDUCATION PROGRAM LOANS

EXIT COUNSELING GUIDE FOR BORROWERS OF DIRECT LOANS AND FEDERAL FAMILY EDUCATION PROGRAM LOANS EXIT COUNSELING GUIDE FOR BORROWERS OF DIRECT LOANS AND FEDERAL FAMILY EDUCATION PROGRAM LOANS U.S. Department of Education Arne Duncan Secretary Federal Student Aid James W. Runcie Chief Operating Officer

More information

EXIT INTERVIEW FACT SHEET

EXIT INTERVIEW FACT SHEET EXIT INTERVIEW FACT SHEET All students who have borrowed a Federal Direct/FFEL student loan are required by law to complete an Exit interview at this point of graduation or if they leave school, or drop

More information

Direct loan Information. Federal Direct Student Loans A simple and flexible way to finance your education. Welcome!

Direct loan Information. Federal Direct Student Loans A simple and flexible way to finance your education. Welcome! Direct loan Information Federal Direct Student Loans A simple and flexible way to finance your education. Welcome! Beginning Spring Semester 2012, Ogeechee Technical College will be participating in the

More information

Student Loans FINANCIAL AID OFFICE KNOW WHO YOU OWE AND YOU GOING???

Student Loans FINANCIAL AID OFFICE KNOW WHO YOU OWE AND YOU GOING??? Student Loans FINANCIAL AID OFFICE KNOW WHO YOU OWE AND HOW MUCH and WHERE ARE YOU GOING??? Note You MUST READ this complete presentation to be able to answer the relative questions on the Federal Direct

More information

Federal Stafford Loan Counseling Checklist

Federal Stafford Loan Counseling Checklist Student s Name (Please Print) Social Security Number You are receiving a Federal Stafford loan to help you cover the costs of your education. You must repay this loan. Before you receive your Stafford

More information

ENTRANCE COUNSELING GUIDE

ENTRANCE COUNSELING GUIDE ENTRANCE COUNSELING GUIDE For Direct Loan Borrowers ENTRANCE COUNSELING GUIDE For Direct Loan Borrowers CONTENTS TYPES OF DIRECT LOANS Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans,

More information

Student Loan Exit Counseling Workshop. Presented by: Student Financial Aid Services Student Union Building (SUB) University of Idaho Fall 2012

Student Loan Exit Counseling Workshop. Presented by: Student Financial Aid Services Student Union Building (SUB) University of Idaho Fall 2012 Student Loan Exit Counseling Workshop Presented by: Student Financial Aid Services Student Union Building (SUB) University of Idaho Fall 2012 What We Will Cover Graduate Loan Changes Loan Terminology Loan

More information

The Role of Student Loans in Financial Aid. Loans 101: Understanding the Basics. Objectives. The role of loans in financial aid

The Role of Student Loans in Financial Aid. Loans 101: Understanding the Basics. Objectives. The role of loans in financial aid Loans 101: Understanding the Basics Objectives 1 2 3 4 The role of loans in financial aid Overview of the Title IV Loan Program Repayment options Counseling resources The Role of Student Loans in Financial

More information

Grace Period and Repayment Guide for Stafford and Direct Loans

Grace Period and Repayment Guide for Stafford and Direct Loans Grace Period and Repayment Guide for Stafford and Direct Loans Communication is key! This guide session covers loans from the following programs: Federal Family Education Loan Program (FFELP) Federal Stafford

More information

ENTRANCE COUNSELING GUIDE

ENTRANCE COUNSELING GUIDE ENTRANCE COUNSELING GUIDE For Direct Loan SM Borrowers ENTRANCE COUNSELING GUIDE For Direct Loan SM Borrowers CONTENTS TYPES OF DIRECT LOANS...1 Direct Subsidized Loans, Direct Unsubsidized Loans, Direct

More information

Answers To Your College Loan Questions

Answers To Your College Loan Questions Answers To Your College Loan Questions 23625 Commerce Park, Suite 200 Beachwood, OH 44122 866-207-5545 2015-2016 Beachwood, OH 44122 866-207-5545 Contents Federal Direct Student and Parent Loan Interest

More information

2015/2016 THINGS YOU NEED TO KNOW ODP Graduate. The following information should help you as you review your 2015/2016 Financial Aid Offer

2015/2016 THINGS YOU NEED TO KNOW ODP Graduate. The following information should help you as you review your 2015/2016 Financial Aid Offer 2015/2016 THINGS YOU NEED TO KNOW ODP Graduate Financial Aid Online Degree Programs 2130 Fulton Street San Francisco, CA 94117 Tel: 415.422.4531 Fax: 415.422.4534 onlinefinaid@usfca.edu The following information

More information

Student loan terms to know

Student loan terms to know Definition of words related to federal student loans and the Nelnet payment process. Accrue The act of interest accumulating on the borrower s principle balance. Aggregate Loan Limit The maximum total

More information

Entrance Counseling Guide for Direct Loan Borrowers

Entrance Counseling Guide for Direct Loan Borrowers You are borrowing Direct Subsidized Loans and/or Direct Unsubsidized Loans to help you finance your education. Repaying these loans is a serious responsibility. This guide explains some of the most important

More information

Managing Your Student Loans 101. Basic Understanding of the Repayment Process

Managing Your Student Loans 101. Basic Understanding of the Repayment Process Managing Your Student Loans 101 Basic Understanding of the Repayment Process Katherine Coates Office of Federal Student Aid Kansas City, MO Adam Essex Office of Federal Student Aid Washington D.C. Kevin

More information

Student Loans A comprehensive look at student aid and the various repayment options

Student Loans A comprehensive look at student aid and the various repayment options Student Loans A comprehensive look at student aid and the various repayment options How Much Does College Cost? According to the Bureau of Labor Statistics and the US Department of Labor, the average cost

More information

Office of Financial Aid (OFA) Frequently Asked Questions

Office of Financial Aid (OFA) Frequently Asked Questions Office of Financial Aid (OFA) Frequently Asked Questions Who should apply for Financial Aid? The USD OFA recommends that every eligible* student apply for financial aid. Even if you believe you won t qualify

More information

STUDENT LOANS: AFTER YOU BORROW

STUDENT LOANS: AFTER YOU BORROW STUDENT LOANS: AFTER YOU BORROW Student Loan Basics Nearly Everyone CAN Borrow, however: Loans have to be repaid! Borrow only what you need!! Interest What you are charged for using someone else s money

More information

2014 Exit Counseling / Student Loan Repayment Information. May 7, 2014 University of Maryland, Baltimore County

2014 Exit Counseling / Student Loan Repayment Information. May 7, 2014 University of Maryland, Baltimore County 2014 Exit Counseling / Student Loan Repayment Information May 7, 2014 University of Maryland, Baltimore County First. If you are graduating: Congratulations! Know your loans Know the type(s) of loan (Stafford

More information

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement Important Notice: This Borrower s Rights and Responsibilities Statement provides additional information about the terms and conditions of the loans you receive under the accompanying Master Promissory

More information

EXIT COUNSELING GUIDE FOR BORROWERS OF DIRECT LOANS AND FEDERAL FAMILY EDUCATION PROGRAM LOANS

EXIT COUNSELING GUIDE FOR BORROWERS OF DIRECT LOANS AND FEDERAL FAMILY EDUCATION PROGRAM LOANS EXIT COUNSELING GUIDE FOR BORROWERS OF DIRECT LOANS AND FEDERAL FAMILY EDUCATION PROGRAM LOANS U.S. Department of Education Arne Duncan Secretary Federal Student Aid James W. Runcie Chief Operating Officer

More information

ENTRANCE COUNSELING GUIDE

ENTRANCE COUNSELING GUIDE ENTRANCE COUNSELING GUIDE For Direct Loan Borrowers ENTRANCE COUNSELING GUIDE For Direct Loan Borrowers CONTENTS TYPES OF DIRECT LOANS Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans,

More information

Loan Exit. Agenda. Goals. O Interest Rates O Rights & Responsibilities

Loan Exit. Agenda. Goals. O Interest Rates O Rights & Responsibilities Loan Exit Loan Exit Agenda O Interest Rates O Rights & Responsibilities O Payment information O Consolidation O Benefits O Consequences O Last steps O Contacts Goals O Fulfill requirement O Translate terms

More information

STUDENT LOAN FORGIVENESS AND REPAYMENT: WHAT YOU NEED TO KNOW

STUDENT LOAN FORGIVENESS AND REPAYMENT: WHAT YOU NEED TO KNOW STUDENT LOAN FORGIVENESS AND REPAYMENT: WHAT YOU NEED TO KNOW From here to repayment IUPUI updates your enrollment status. Your grace period begins. Your student loan servicer sends you details about

More information

FAQ s on Direct Lending

FAQ s on Direct Lending FAQ s on Direct Lending Q1: Why is the University of Houston switching to direct loans? A: On Thursday March 30, 2010 President Obama signed the Health Care and Education Reconciliation Act of 2010 (H.R.

More information

The Direct Loan is not a Grant; it must be Repaid

The Direct Loan is not a Grant; it must be Repaid WILLIAM D. FORD FEDERAL DIRECT LOANS Academic Year 2013-2014 The Direct Loan is not a Grant; it must be Repaid Direct Loan Interest Rates for Subsidized Loans & Unsubsidized Loans Interest rate: 2013 14

More information

Student Loans FINANCIAL AID OFFICE KNOW WHO YOU OWE AND YOU GOING???

Student Loans FINANCIAL AID OFFICE KNOW WHO YOU OWE AND YOU GOING??? Student Loans FINANCIAL AID OFFICE KNOW WHO YOU OWE AND HOW MUCH and WHERE ARE YOU GOING??? Note You MUST READ this complete presentation to be able to answer the related questions on the Federal Direct

More information

Financial Aid Information

Financial Aid Information Financial Aid Information Schools recognize that in many instances individuals and their families are not able to meet the entire cost of education. Therefore, the Financial Aid Office will assist students

More information

Student Loan Exit Counseling Workshop. Presented by: Student Financial Aid Services Student Union Building (SUB) University of Idaho Spring 2013

Student Loan Exit Counseling Workshop. Presented by: Student Financial Aid Services Student Union Building (SUB) University of Idaho Spring 2013 Student Loan Exit Counseling Workshop Presented by: Student Financial Aid Services Student Union Building (SUB) University of Idaho Spring 2013 What We Will Cover Recent loan changes Loan terminology Loan

More information

AMERICAN UNIVERSITY OF ANTIGUA COLLEGE OF MEDICINE APPROVED TO PARTICIPATE IN WILLIAM D FORD DIRECT LOAN PROGRAM APPROVAL DATE : 10/15/15

AMERICAN UNIVERSITY OF ANTIGUA COLLEGE OF MEDICINE APPROVED TO PARTICIPATE IN WILLIAM D FORD DIRECT LOAN PROGRAM APPROVAL DATE : 10/15/15 AMERICAN UNIVERSITY OF ANTIGUA COLLEGE OF MEDICINE APPROVED TO PARTICIPATE IN WILLIAM D FORD DIRECT LOAN PROGRAM APPROVAL DATE : 10/15/15 Disclaimer 2 This presentation highlights the basics of Title IV

More information

A Message to Students and Parents About Financing a Clarkson Education

A Message to Students and Parents About Financing a Clarkson Education A Message to Students and Parents About Financing a Clarkson Education We understand that financial aid can be confusing for parents and students. Inside this packet, you will find information to help

More information

COUNSELING GUIDE FOR DIRECT LOAN BORROWERS

COUNSELING GUIDE FOR DIRECT LOAN BORROWERS Entrance COUNSELING GUIDE FOR DIRECT LOAN BORROWERS U.S. Department of Education Arne Duncan Secretary Federal Student Aid James W. Runcie Chief Operating Officer December 2013 Revised: July 2014 Online

More information

Helping Students Repay their Loans: Repayment Plan Overview. Greg Carlo Senior Client Relationship Manager

Helping Students Repay their Loans: Repayment Plan Overview. Greg Carlo Senior Client Relationship Manager Helping Students Repay their Loans: Repayment Plan Overview Greg Carlo Senior Client Relationship Manager Agenda Information you can share with your students Understanding Loan Repayment Top 10 Things

More information

STUDENT LOANS. Financial Literacy Forum December 2013

STUDENT LOANS. Financial Literacy Forum December 2013 STUDENT LOANS Financial Literacy Forum December 2013 WHAT KINDS OF DIRECT LOANS ARE AVAILABLE? Subsidized Direct Subsidized Stafford Loans are available to undergraduate students with financial need. Interest

More information

Exit Counseling Guide for Direct Loan Borrowers

Exit Counseling Guide for Direct Loan Borrowers You borrowed Direct Subsidized Loans and/or Direct Unsubsidized Loans to help you finance your education. Repaying these loans is a serious responsibility. This guide explains some of the most important

More information

Financial Aid 101. Trine University Peoria, Arizona 2013-14

Financial Aid 101. Trine University Peoria, Arizona 2013-14 Financial Aid 101 Trine University Peoria, Arizona 2013-14 Agenda How to Apply Types of Aid Renewing Your Aid Loans NSLDS Access Contact Information What is Financial Aid Financial aid is funds provided

More information

Teacher Education Assistance for College and Higher Education Grant (TEACH)

Teacher Education Assistance for College and Higher Education Grant (TEACH) ARLINGTON BAPTIST COLLEGE Financial Aid Eligibility Requirements General requirements: Be a United States Citizen or permanent resident. Be accepted by ABC in a degree or certification program. Students

More information

U.S. Financing Information at

U.S. Financing Information at U.S. Financing Information at Contents Introduction 3 Glossary of Key Terms 4 Available US Loans 9 Eligibility and Assessment 10 Repayment: Options and Obligations 11 Refund and Return to Title IV Policy

More information

Direct Loan Exit Counseling

Direct Loan Exit Counseling Direct Loan Exit Counseling Understanding your student loan rights and responsibilities is critical to successful repayment! This guide will help you understand Federal Stafford Loans and Direct Loans.

More information

8/4/2015. Agenda. Student Loan Repayment and other exciting activities after GRADUATION! Types of Loans. Key Players. Stafford Loan Interest Rates

8/4/2015. Agenda. Student Loan Repayment and other exciting activities after GRADUATION! Types of Loans. Key Players. Stafford Loan Interest Rates Student Repayment and other exciting activities after GRADUATION! Agenda types & interest rate The grace period Repayment plans Forgiveness Avoiding delinquency & default Financial Planning 1 2 Key Players

More information

Federal Direct Exit Loan Counseling

Federal Direct Exit Loan Counseling Federal Direct Exit Loan Counseling Student Financial Services Fall 2012 What is Exit Counseling and Why are You Here? Exit counseling is a way for students to understand their rights and responsibilities.

More information

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement Important Notice: This Borrower s Rights and Responsibilities Statement provides additional information about the terms and conditions of the loans you receive under the accompanying Master Promissory

More information

Guidelines and Requirements in Applying for a Federal Direct Stafford Student Loan

Guidelines and Requirements in Applying for a Federal Direct Stafford Student Loan 2014-2015 Guidelines and Requirements in Applying for a Federal Direct Stafford Student Loan Entrance Counseling On Line: Go directly to www.studentloans.gov and use your PIN to sign in. If you need assistance

More information

Federal Supplemental Education Opportunity Grant Work Study Federal Work Study (may not be available at all school locations) Loans

Federal Supplemental Education Opportunity Grant Work Study Federal Work Study (may not be available at all school locations) Loans Financial Aid Information Schools recognize that in many instances individuals and their families are not able to meet the entire cost of education. Therefore, the Financial Aid Office will assist students

More information

Financial Aid Information

Financial Aid Information Financial Aid Information Schools recognize that in many instances individuals and their families are not able to meet the entire cost of education. Therefore, the Financial Aid Office will assist students

More information

Financial Aid Student Loan Guide 2015-2016

Financial Aid Student Loan Guide 2015-2016 Financial Aid Student Loan Guide 2015-2016 LA City College Loan Philosophy As low-cost public institutions with limited entrance requirements, we are concerned about our students and believe that it is

More information

Loans 101 2015-16. Maria Rebecchi Assistant Director of Financial Aid

Loans 101 2015-16. Maria Rebecchi Assistant Director of Financial Aid Loans 101 2015-16 Maria Rebecchi Assistant Director of Financial Aid Agenda Introductions A few considerations before you take out a loan Overview of student loans Types, amounts, eligibility, application,

More information

EXIT COUNSELING GUIDE FOR BORROWERS OF DIRECT LOANS AND FEDERAL FAMILY EDUCATION PROGRAM LOANS

EXIT COUNSELING GUIDE FOR BORROWERS OF DIRECT LOANS AND FEDERAL FAMILY EDUCATION PROGRAM LOANS EXIT COUNSELING GUIDE FOR BORROWERS OF DIRECT LOANS AND FEDERAL FAMILY EDUCATION PROGRAM LOANS U.S. Department of Education Arne Duncan Secretary Federal Student Aid James W. Runcie Chief Operating Officer

More information

MANAGING DEBT, DELINQUENCY AND DEFAULT

MANAGING DEBT, DELINQUENCY AND DEFAULT MANAGING DEBT, DELINQUENCY AND DEFAULT Emory University Candler School of Theology Presenter: David Haygood, Director of Business Development Date: Spring 2016 Topics Preventing Delinquency and Default

More information

fyi Federal loans: The smart way to borrow

fyi Federal loans: The smart way to borrow Federal loans: The smart way to borrow If you don t receive enough free money to pay for college and you aren t able to cover your costs with savings or other resources, consider federal student loans.

More information

A Guide to Sensible Borrowing & Loan Request Form

A Guide to Sensible Borrowing & Loan Request Form stafford loans STAFFORD LOANS 2010-2011 A Guide to Sensible Borrowing & Loan Request Form Pursue all other alternatives first Get the facts about each loan program What are Federal Direct Loans Budget

More information

2016-2017 FINANCIAL AID GUIDE For Graduate Students (As of 05/04/2016)

2016-2017 FINANCIAL AID GUIDE For Graduate Students (As of 05/04/2016) 2016-2017 FINANCIAL AID GUIDE For Graduate Students (As of 05/04/2016) HOW TO USE THIS GUIDE The purpose of this guide is to assist you with understanding important information about the financial aid

More information

The Ins and Outs of Student Loan Repayment: Understanding the options. The Ins and Outs of Student Loan Repayment

The Ins and Outs of Student Loan Repayment: Understanding the options. The Ins and Outs of Student Loan Repayment Industry Training : Understanding the options Thresa Tyus, Default Aversion Consultant Learning objectives You will learn to: Take inventory of your federal student loans Explore repayment plans available

More information

Federal Student Loan Debt Management Guide A Supplement to Entrance and Exit Counseling

Federal Student Loan Debt Management Guide A Supplement to Entrance and Exit Counseling Federal Student Loan Debt Management Guide A Supplement to Entrance and Exit Counseling This publication is a compilation of information* from various resources developed by the U.S. Department of Education.

More information

Checklist Analyze your client s circumstances Inventory the federal loans Inventory the private loans

Checklist Analyze your client s circumstances Inventory the federal loans Inventory the private loans 37 million Americans have student loans Comprehensive Student Loan Training Series August 2014 1 trillion dollars in outstanding student loan debt: $1,000,000,000,000 Private Student $150 billion is outstanding

More information

The choice is clear. FINANCIAL AID: LOWER THE COST OF HIGHER EDUCATION

The choice is clear. FINANCIAL AID: LOWER THE COST OF HIGHER EDUCATION The choice is clear. FINANCIAL AID: LOWER THE COST OF HIGHER EDUCATION HOW TO APPLY FOR FINANCIAL AID The Free Application for Federal Student Aid (FAFSA) serves as the application for all federal, state

More information

loan exit counseling

loan exit counseling loan exit counseling Today s Agenda Types of loans Managing your loans Loan Forgiveness/Cancellation Debt Management Resources know your loans Types of Loans Federal Stafford Loan Federal PLUS (Graduate

More information

How to Understand your Student Loans

How to Understand your Student Loans How to Understand your Student Loans How do my student loans work? (edited from Bill Pratt s Extra Credit: The 7 Things Every College Student Needs to Know about Credit, Debt, & Ca$h) 1. Borrow all federal

More information

Intermediate Counseling Module Plan for Success Script

Intermediate Counseling Module Plan for Success Script Intermediate Counseling Module Plan for Success Script Slide 1: Title slide Slide 2: Prepare for successful repayment Borrowing money to pay for your education can greatly impact your quality of life today

More information

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement Important Notice: This Borrower s Rights and Responsibilities Statement provides additional information about the terms and conditions of the loans you receive under the accompanying Master Promissory

More information

u s s t u e n t loans

u s s t u e n t loans f e d e r a l d i rect u s s t u e n t loans the answers to some common questions regarding federal direct us student loans. Why a Loan? Your education is an investment into every aspect of who you are.

More information

loan exit counseling

loan exit counseling loan exit counseling Agenda Types of loans Managing your loans Loan Forgiveness/Cancellation Debt Management Strategies and Financial Resources Types of Loans Federal Loans Direct Subsidized Direct Unsubsidized

More information

Your Student Loan Record

Your Student Loan Record Your Student Loan Record STUDENT LOAN RECORD There are lots of people ready to help with information about your student loans, if you need it Ombudsman: 1-877-557-2575 or www.ombudsman.ed.gov National

More information

EXIT GUIDE. Borrowers. For Direct Loan SM COUNSELING

EXIT GUIDE. Borrowers. For Direct Loan SM COUNSELING EXIT For Direct Loan SM COUNSELING GUIDE Borrowers EXIT COUNSELING GUIDE For Direct Loan SM Borrowers CONTENTS CONTACTS FOR YOUR DIRECT LOANS SM... 1 Money management 2 Repaying your loan 4 Repayment plans

More information

FINANCIAL AID CONSUMER INFORMATION GUIDE 2015-2016 Award Year Revised 09/01/2015

FINANCIAL AID CONSUMER INFORMATION GUIDE 2015-2016 Award Year Revised 09/01/2015 FINANCIAL AID CONSUMER INFORMATION GUIDE 2015-2016 Award Year Revised 09/01/2015 You are responsible for reading this award guide. This information is essential to read and understand the terms and conditions

More information

FINANCIAL AID. Experience the Mercy Difference.

FINANCIAL AID. Experience the Mercy Difference. FINANCIAL AID Experience the Mercy Difference. FINANCING YOUR EDUCATION at Mercy College Congratulations on exploring the many educational options at Mercy College of Ohio! Mercy College is committed to

More information

STUDENT RIGHTS & RESPONSIBLITIES

STUDENT RIGHTS & RESPONSIBLITIES STUDENT RIGHTS & RESPONSIBLITIES Students seeking Direct Loans must first complete the Free Application for Federal Student Aid (FAFSA), which can be submitted online at www.fafsa.ed.gov. There are two

More information

Student Business Center. Nicole Neal Financial Aid Director nneal@shawnee.edu

Student Business Center. Nicole Neal Financial Aid Director nneal@shawnee.edu Student Business Center Nicole Neal Financial Aid Director nneal@shawnee.edu Student Business Center Bursar s Office, Financial Aid, and Registrar s Office Located on the second floor of the University

More information

loan exit counseling

loan exit counseling loan exit counseling Today s Agenda Types of loans Managing your loans Loan Forgiveness/Cancellation Debt Management Strategies and Financial Resources know your loans Types of Loans Federal Direct Loans

More information

Teach For America Financial Aid Guidebook Kansas City 2015-2016

Teach For America Financial Aid Guidebook Kansas City 2015-2016 Teach For America Financial Aid Guidebook Kansas City 2015-2016 TFA Member Checklist: Check your UMSL email regularly Have Student Loan or Education Award Questions? Contact the Financial Aid Office (314)

More information

You are NOT required to take out Federal Direct Student Loans at Stark State College!

You are NOT required to take out Federal Direct Student Loans at Stark State College! You are NOT required to take out Federal Direct Student Loans at Stark State College! Loan requests processed at Stark State College are carefully considered to assure low default rates among loan borrowers.

More information

2015-2016 Application for Financial Aid New York Medical College School of Basic Medical Sciences

2015-2016 Application for Financial Aid New York Medical College School of Basic Medical Sciences 2015-2016 Application for Financial Aid New York Medical College School of Basic Medical Sciences New York Medical College, Office of Student Financial Planning, Room 125 C 40 Sunshine Cottage Road, Administration

More information

Georgia College Perkins Loan Program

Georgia College Perkins Loan Program Georgia College Perkins Loan Program General Information The Federal Perkins Loan is a federally funded loan intended to assist needy students in financing the costs of post secondary education. It is

More information

Summer Financial Aid Information and Application

Summer Financial Aid Information and Application Summer Financial Aid Information and Application Read through the following information to help answer questions regarding your application for summer financial aid. What steps do I need to complete in

More information

Student Loans and Debt Management Spring 2015

Student Loans and Debt Management Spring 2015 Student Loans and Debt Management Spring 2015 Exit Interview MSU CHM and COM Diane Batten batten@msu.edu Judi Marks marksjud@msu.edu Christy Cotton cottonc4@msu.edu Disclaimer: All information and estimates

More information

Federal Direct Loan Terms and Conditions

Federal Direct Loan Terms and Conditions Federal Direct Loan Terms and Conditions GOVERNING LAW The terms of this Master Promissory Note (MPN) will be interpreted in accordance with the Higher Education Act of 1965, as amended (the HEA) (20 U.S.C.

More information

Loan Exit. Agenda. Goals. O Interest Rates O Rights & Responsibilities

Loan Exit. Agenda. Goals. O Interest Rates O Rights & Responsibilities Loan Exit Loan Exit Agenda O Interest Rates O Rights & Responsibilities O Payment information O Consolidation O Benefits O Consequences O Last steps O Contacts Goals O Fulfill requirement O Translate terms

More information

Student Financial Resources and Scholarships (SFRS) 2014-15 Student Loan Automatic Packaging Q & A

Student Financial Resources and Scholarships (SFRS) 2014-15 Student Loan Automatic Packaging Q & A Student Financial Resources and Scholarships (SFRS) 2014-15 Student Loan Automatic Packaging Q & A What is Student Loan Automatic Packaging? Student Loan Automatic Packaging is the process of predetermining

More information

William D. Ford Federal Direct Loan Program Direct PLUS Loan Borrower s Rights and Responsibilities Statement

William D. Ford Federal Direct Loan Program Direct PLUS Loan Borrower s Rights and Responsibilities Statement Important Notice: This Borrower s Rights and Responsibilities Statement provides additional information about the terms and conditions of the loans you receive under the accompanying Federal Direct PLUS

More information

Financial Aid Information. Welcome!

Financial Aid Information. Welcome! Financial Aid Information Welcome! Types of Financial Aid HOPE Scholarship Grant TITLE IV AID PELL Grant FSEOG Federal Work Study Federal Student Loans SCHOLARSHIPS HOPE HOPE (Helping Outstanding Pupils

More information

Federal Loan Repayment Options

Federal Loan Repayment Options Federal Loan Repayment Options The Standardized Repayment Plan- allows you to pay off your federal student loans in the shortest amount of time. This repayment Plan saves you money over time because your

More information

Your Financial Aid Package and Guide

Your Financial Aid Package and Guide Your Financial Aid Package and Guide 3 SAINT MICHAEL S COLLEGE smcvt.edu What You Need to Know The Office of Student Financial Services at Saint Michael s College has created this guide to explain the

More information

Federal Direct Unsubsidized Loan Application Procedures

Federal Direct Unsubsidized Loan Application Procedures Federal Loan Programs Students who are matriculated into a degree program at Meadville Lombard are eligible to apply for Federal Financial Aid while they are enrolled at least half time for their degree

More information

FINANCIAL AID TO LOWER THE COST OF HIGHER EDUCATION

FINANCIAL AID TO LOWER THE COST OF HIGHER EDUCATION CONTACT US FIN ANCIAL INF O C A N H E R E FO R S Phone: 281-283-2480 Fax: 281-283-2502 E-mail: uhcl_fao@uhcl.edu Web: www.uhcl.edu/finaid University of Houston-Clear Lake Office of Student Financial Aid

More information

EXIT COUNSELING GUIDE

EXIT COUNSELING GUIDE EXIT COUNSELING GUIDE For Federal Student Loan Borrowers Contents Intro 1 Exit Counseling Federal Student Loan Programs Getting Started 1 Types of Federal Student Loans Loan Terminology Repaying Your

More information

MCGEORGE SCHOOL OF LAW. Exit Counseling

MCGEORGE SCHOOL OF LAW. Exit Counseling MCGEORGE SCHOOL OF LAW Exit Counseling MANDATORY EXIT REQUIREMENT Complete on line exit counseling www.studentloans.gov Need FAFSA PIN number, references, addresses and phone numbers Request PIN at www.pin.ed.gov

More information