Archives: loan
Attention Incoming Spring Students- It’s FAFSA Time!
If you are a transfer student or a new student who was not able to start school this fall, you are still eligible for spring term financial aid! To begin, you might qualify for our academic scholarships. Feel free to use our Scholarship Calculator for an idea on how much you might qualify for.
As always though, your eligibilty is tied to your FAFSA. So, if you will be joining us this spring, then please complete your FAFSA as soon as possible. Remember, your receipt of any form of financial aid is conditional upon completion of your FAFSA, save of course for ineligible international students.
Shortly, we will begin sending award letters to accepted spring students. If you are in need of scholarships, grants or loans to pay for college and would like to be aware of your eligibility, then please complete your FAFSA today!
A Plus for the PLUS
We wanted to put this reminder out there as there seems to be a pervailing belief that PLUS repayment is required to begin 60 days after the loan is fully disbursed. This rule is outdated and no longer stands true!
Good news for parents choosing to finance any portion of their children’s tuition with a PLUS-PLUS borrowers whose funds were first disbursed on or after July 1, 2008, have the option of delaying repayment until six months after the student leaves school or becomes enrolled less than half-time (less than 6 credits per semester for day program students).
So just as with student loans, payment may be deferred on a PLUS while the student is in school. Note that as the borrower of the PLUS, you must make this request for deferrment with your lender, as most lenders will not volunteer such information.
Federal PLUS Auction Cancelled
For those parents who may have been waiting to hear which two lenders would be eligible to service your Federal Parental Loan for Undergraduate Students (PLUS), wait no longer.
The Department of Education has cancelled the auction that was intended to determine two specific lenders for each state that would be authorized to service the PLUS. With this auction cancelled, it means that borrowers may apply for the PLUS through any eligible lender.
Federal Aid First
Hello All,
If you feel that loans will need to be part of the equation to help you pay for college, then you’re not alone. Most college students, whether attending state or private schools, will need to borrow money at some point during their college career.
The Department of Education recognizes this fact, and has created a simple yet comprehensive guide designed to hammer home one important point when taking out loans to pay for school- use federal aid first. Check it out to learn the benefits of federal loans and how they differ from private loans.
For even more federal financial aid information, visit www.federalstudentaid.ed.gov.