Leave 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 https://paydayloanslouisiana.org/ 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.
There are numerous cost choices. Extent and you can length of your instalments varies according to just how much your own borrowed and you may and this payment package you choose. Having details about the many fees agreements, go to .
To acquire a whole reputation of your government financing credit and to obtain the loan servicer (if your loan(s) have been assigned to a good servicer), log in to the fresh new Federal Student loan Research Program (NSLDS) at nslds
When your financing is within repayment, it could be assigned to financing servicer. You might be informed who’s servicing the loan(s) one which just enter into installment. ed.gov using your FSA ID.
On Head Financing program, new U.S. Department from Knowledge ‘s the bank for the education loan. New Head And additionally mortgage system exists so you’re able to mothers out-of a great based student pupil who is qualified to receive educational funding. In place of the fresh new Head Money for students, although, mothers applying for a direct And additionally Loan need to meet specific borrowing from the bank criteria.
- Their scholar need certainly to over a free App to possess Government College student Aid (FAFSA) within that have Ivy Technology Community College or university listed as among the school selection (school code: 009917). For those who and/or pupil must fill in all other data, people should getting reviewed from the School funding Office in advance of your loan qualifications shall be determined.
- Sign on to presenting their FSA ID. Significantly less than “Sign up for Support” lick for the relationship to “Get a daddy In addition to Mortgage” and you can stick to the measures. Note: A credit score assessment could well be did.
- In case your borrowing from the bank is approved, try to over a master Promissory Note (MPN). Make sure you complete the MPN toward “Mother And additionally” financing alternative.
- Your information will be sent to Ivy Tech Community College, where the Educational funding Office 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 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.
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 may have multiple servicers based the loan background
Send 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.