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Federal parent loan for undergraduate students fplus

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Federal Parent Loan for UndergraduateStudents (FPLUS)Description:The interest rates for loans disbursed on or after July 1 of each year,will be calculated based on the Treasury bill rates as of June 1 (plusan additional add on rate). Since interest rates are calculated everyyear, it is very likely you will have different interest rates onsubsequent loans as well as your prior federal loans.Once calculated, the interest rate for that loan will not change. Contactthe Financial Aid Department for the most current interest rates.The Federal Government will require a credit evaluation to determinethe parent’s eligibility for this loan. A parent may borrow up to thedifference between the student’s educational costs and otherfinancial aid the student receives for each academic year. Anorigination fee will be deducted from the amount borrowed.Repayment:Repayment begins within 60 days after the loan is fully disbursed.See your Student Financial Aid Officer to obtain a samplerepayment plan.How payments are made:The Federal Government will electronicallytransmittheloan fundsto the school by a process called Electronic Funds Transfer (EFT). Theloan proceeds will automatically be transferred to the student’saccount; this usually occurs prior to the beginning of eachterm.Seeyour Student Financial Aid Officer for more details.FSA Student Loan Ombudsman GroupContact Information:Online:‐center/answers/article/how‐to‐contact‐ombudsman‐groupPhone:877-557-2575Fax:202-275-0549Mailing address:U. S. Department of Education FSAOmbudsman Group830 First Street, N. E., Mail Stop 5144Washington, D.C. 20202-5144Federal Work-StudyDescription:Through the Federal Work-Study program, you have the opportunityto meet part of your expenses by working part time on or off campusincluding possibly working in a community service position,depending on availability. Workers earn at least minimum wage. Alimited number of jobs are available, with priority given to studentswith the greatest need, as determinedby the results of the FAFSA.Our Financial Aid Department has more details. The maximum astudent can earn through this program is the amount of unmet need(the difference between expenses and all resources). Wages fromthis program will be paid directly to you as you earn them. As withany job, several weeks may pass before you receive your firstpaycheck, so you will need to cover your own expenses initially.State Student Assistance ProgramsDescription: Some states offer educational grants and scholarshipprograms funded by individual state legislatures to help studentsobtain higher education. The eligibility criteria, amounts, and loanrepayment obligations vary according to state regulations. TheFinancial Aid Department can help you apply for the program in yourstate.
Veterans Education ActThe Veterans Education Act provides varying levels of assistance toeligible veterans, disabled veterans, and their dependents.If you are

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Term
Fall
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Tags
Debt, The American, Financial aid, Student financial aid, United States Department of Education, Our Financial Aid Department

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