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Calendar
MAY 9
Last day to apply for a PLUS Loan for students enrolled Spring
MAY 12
Last day to work Spring work study
What's New for 2012-13
Federal Tax Returns Can No Longer Be Accepted
It is now a Federal requirement that tax information must be verified from an official IRS Tax Return Transcript. We strongly encourage students and their parents to utilize the IRS Data Retrieval process when completing their FAFSA to limit requests for the Tax Return Transcripts.
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New Undergraduate Federal Subsidized Loans
New subsidized Stafford loans made from July 1, 2012 to June 30, 2014 will not be eligible for subsidized interest benefits during the six-month grace period after a student graduates or falls below half-time enrollment. Interest will accrue during the grace period and will be capitalized if unpaid by the borrower.
Loss of Federal Subsidized Loans for Graduate Students
As a result of the Budget Control Act of 2011, SEC. 502, Federal Subsidized Loans cannot be awarded to graduate and professional students for loan periods beginning on or after July 1, 2012.
New Federal Loan Interest Rates and Fees
The fixed interest rate for all Federal Subsidized and Unsubsidized Loans disbursed between on or after July 1, 2012, is 6.8%. Federal PLUS loans will remain at a fixed rate of 7.9%. Beginning July 1, 2012 rebates will no longer be offered; therefore, borrowers will pay the full origination fee (1% for subsidized and unsubsidized loans, 4% for PLUS loans).