William D. Ford Federal Head Moms and dad And additionally Loan (Lead In addition to Financing)

William D. Ford Federal Head Moms and dad And additionally Loan (Lead In addition to Financing)

Get-off Guidance: Once you graduate, stop attending or are no longer enrolled in at least 6 credit hours, you will be required to complete Exit Counseling, even if you plan to transfer to another school or return to Ivy Tech Community College in a future semester. Exit Counseling explains your responsibilities for repayment of your Direct Loan and provides information on how to manage your student loans. To complete Exit Counseling, visit and click on the “Complete Exit Counseling” link.

Repayment: Since this is a loan, you must repay the funds you borrowed along with any interest or fees that may have accrued.

You’ll find multiple payment possibilities. The quantity and you will period of your instalments depends on how far the lent and you will and therefore payment package you select. To own information about the many installment arrangements, go to .

Locate an entire reputation of the federal loan borrowing and you may discover your loan servicer (if for example the mortgage(s) were assigned to an excellent servicer), log on to brand new National Student loan Data Program (NSLDS) during the nslds

As soon as your mortgage is in payment, it could be assigned to financing servicer. You will be informed who is servicing the loan(s) one which just go into installment. ed.gov utilizing your FSA ID.

From the Direct Loan program, the newest U.S. Department from Studies ‘s the bank to suit your student loan. The new Lead Along with loan system is obtainable to help you moms and dads from a good based student college student who’s qualified to receive school funding. Unlike this new Head Fund for students, although, moms and dads making an application for a primary Along with Loan need certainly to see specific borrowing from the bank conditions.

  1. The scholar need over a totally free Application for Federal Beginner Services (FAFSA) at the having Ivy Tech People School noted as among the college or university alternatives (college or university code: 009917). For many who or perhaps the college student have to fill in any other records, those individuals must also getting analyzed because of the Financial aid Work environment prior to the loan qualifications might be computed.
  2. Sign up to having your own FSA ID. Under “Make an application for Support” eat toward link to “Submit an application for a father In addition to Financing” and you will follow the measures. Note: A credit assessment would be did.
  3. Whether your credit is approved, you will need to complete a king Promissory Mention (MPN). Make sure you complete the MPN towards “Father or mother Also” loan option.
  4. Your information will be sent to Ivy Tech Community College, where the Educational funding Workplace will determine the maximum amount you can borrow. The Financial Aid Office will process your loan for the amount requested or the amount available, whichever is greater. Please note: if you selected the loan period for the entire academic year, your loan amount will be split in to half for fall semester and half for spring semester.

If your credit is not approved during the credit check process, you still have options if you wish to receive the Direct PLUS Loan. You will be notified of these options after the credit check is complete or you can contact your student’s university Financial aid Place of work for information. If you are not able to obtain a Direct Parent PLUS Loan, your student may be eligible for additional Direct Unsubsidized Loan funds. The student should contact his/her campus Financial Aid Office for more information.

Borrowing Restrictions: The amount a parent can borrow is based on the student’s enrollment, grade level and other financial aid received. Based on these factors payday loans CA, the Financial Aid Office will determine the maximum amount you can borrow.

You have got multiple servicers based on your loan record

Publish and you will Refunds: All federal student aid, including Direct PLUS Loans, must first be sent to Ivy Tech Community College to pay any outstanding tuition, fees or other applicable charges. If there are excess funds from the Direct PLUS Loan after all applicable charges have been paid, a refund will be generated. Visit for more information on the posting and refunding process.

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