Under certain conditions, federal regulations allow students to defer loan repayment. Detailed information and repayment calculators. Planning for repayment is essential to your credit health. Generally, you'll have from 10 to 25 years to repay your loan, depending on which repayment plan you choose. When it comes time to start repaying your student loan(s), you can select a repayment plan that’s right for your financial situation. As a general rule, the following grade-level maximums apply. The Direct Loan amount shown on the student’s financial aid award is the Financial Aid Office’s estimate of the student’s eligibility. Borrower Eligibilityĭegree-seeking students who are enrolled at least half-time may receive Direct Loan funding as long as they meet all general eligibility requirements. If there are future changes to federal law that affect federal student loan interest rates, we will update this page to reflect those changes. Note: The interest rates for federal student loans are determined by federal law. Loan Typeįirst Disbursed Between 7/1/22 and 7/1/23 Interest RatesĬurrent interest rates on all Federal Direct Loans are fixed. Repayment of the principal begins 6 months after you cease half-time enrollment, and the average repayment term is 10 years. The amount you may receive for the academic year is based on your financial need and academic level and is determined by the Office of Financial Aid. This loan is not based upon your credit history or income. The Federal Direct Loan is a long-term, low-interest loan that is awarded by the Office of Financial Aid. ![]() ![]() Application must be completed in its entirety and sent to The Financial Aid Office.Preference shall be given to students who have demonstr ated experience in or a commitment to working with historically underrepresented racial minority groups who have exhibited commitment to diversity and inclusion by participating in community activities, social groups, student clubs, or organizations that support this focus.A 3.0 cumulative GPA must be maintained.The primary consideration in awarding the scholarships will be the candidates’ demonstrated financial need as determined by completion of the Free Application for Federal Student Aid (FAFSA), as well as the student’s academic achievement. ![]()
0 Comments
Leave a Reply. |