Get off Counseling: 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 can find multiple cost selection. The amount and period of your instalments will depend on how much their borrowed and you may hence fees package you decide on. Getting information regarding different repayment arrangements, check out .
To obtain an entire history of your government mortgage borrowing and to obtain your loan servicer (if for example the financing(s) was assigned to a servicer), log on to the brand new National Education loan Study Program (NSLDS) from the nslds
As soon as your mortgage is during installment, it might be allotted to that loan servicer. You happen to be informed that is servicing the loan(s) before you enter into fees. ed.gov making use of your FSA ID.
On the Direct Loan program, the newest You.S. Institution from Training is the lender to suit your student loan. New Direct Including loan system exists in order to moms and dads out of a beneficial depending undergraduate student that is eligible for school funding. In lieu of the new Direct Fund for college students, though, parents applying for a primary As well as Financing need fulfill specific borrowing from the bank requirements.
- Their student have to over a totally free Application to have Government Student Services (FAFSA) at the having Ivy Technology Society College detailed among the college or university alternatives (school password: 009917). For people who and/or student have to complete any data, men and women should also feel assessed by the Financial aid Workplace in advance of the loan qualification are going to be calculated.
- Sign on to having your FSA ID. Less than “Sign up for Help” eat on link to “Submit an application for a father And Mortgage” and you will proceed with the steps. Note: A credit assessment would-be did.
- If for example the borrowing is eligible, just be sure to over a master Promissory Note (MPN). Make sure you complete the MPN towards the “Mother or father Plus” loan solution.
- Your information will be sent to Ivy Tech Community College, where the Financial aid Place of work 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 campus Educational funding 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.
Credit 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, the Financial Aid Office will determine the maximum amount you can borrow.
You really have several servicers based on your loan history
Posting and you can Refunds: All federal student aid, payday loans online no credit check instant approval 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.