Changes to the William D. Ford Direct Loan (Direct Loan) Program

As a result of the Budget Control Act of 2011, the Direct Loan Program will make two changes as of July 1, 2012:

  • Professional or graduate students are no longer eligible to receive Federal Direct Subsidized Loans
  • All on-time incentives, reduction in the interest rate or origination fee, will be eliminated

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Federal Student Programs and Procedural Changes

As we approach a new academic, we will be facing changes in Federal Student Aid Programs Regulations and procedures in the Financial Aid Office. These changes will be effective on July 1, 2012 and will significantly affect your eligibility for federal student aid programs.

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Pell Grant Lifetime Eligibility

The amount of Federal Pell Grant funds a student may receive over his or her lifetime is limited by a new federal law to be the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding a student can receive each year is equal to 100%, the six-year equivalent is 600%.

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