Student Education Loans – General
Q. May I transfer my loan to some other college?
A. No. Students must request a brand new loan through the school funding workplace during the school that is new. This new college’s school funding staff will recalculate the pupil’s loan eligibility, which might be paid down because of the quantity of loan funds currently gotten for attendance during the school that is prior.
Q. Exactly exactly How is Federal Direct Loan eligibility determined?
A. Subsidized Stafford
Economic need = price of attendance – anticipated household share – anticipated assistance that is financial
This figure can’t be significantly more than the Stafford grade level that is annual optimum.
Staying need that is financial price of attendance – anticipated monetary support (including any quantity of subsidized Stafford Loan)
Q. What are the results towards the interest that accrues on my loan while I am at school?
A. While you are in school on at least a half time basis and during authorized deferment periods if you are a subsidized Stafford Loan borrower, the U.S. Department of Education pays the interest that accrues on your loan.
If you’re an unsubsidized Stafford Loan debtor, interest that accrues on your own loan when you are in school could be capitalized – or added in to the major stability of your loan. (more…)