Miami University realizes that managing
the cost of education is a challenge for most families.
In addition to grants, scholarships, and federal work-study
funds that may be awarded to students, several loan
options are available.
Most students who file the Free Application for Federal
Student Aid (FAFSA) will be awarded a Federal Direct
Student Loan. A Federal Direct PLUS Loan is also available
to parents of dependent students. Private loans are
another option for students.
The dollar amount of these loans may be based on federal
limits, year in school, dependency status, cost of attendance,
and other financial aid received.
On May 7th, 2008, President
Bush signed into law the Ensuring Continued
Access to Student Loans Act of 2008.
Parents have the option
to defer payments on their Federal Direct PLUS
loan first disbursed on or after July 1, 2008
until six months after the dependent student
ceases to be enrolled at least half-time, see
Federal
Direct PLUS loans.
In addition, some student
borrowers may be eligible for an additional
$2,000 of unsubsidized loan eligibility. The
amendments made by this bill will be effective
for loans first disbursed on or after July 1,
2008, see New
Loan Eligibility.
Need to complete
your Federal Direct Student Loan Master Promissory Note?
Need to complete
your Federal Direct Loan Entrance or Exit Counseling
requirement?
