老司机视频

IMPORTANT: The Health Care and Education Reconciliation Act聽signed by President Obama on March 30th, 2010聽will bring major changes to Federal Student Aid. The program and procedures described below remain聽valid at this time聽but will be replaced by the Direct Loan program in the coming months. More information will be posted on this page very soon.

老司机视频 is a participating institution in the US Government Federal Loan Program for its Master and PhD programs. This includes the Stafford loans and the Graduate PLUS loans. This page describes the Graduate PLUS loans, often referred to as GradPlus loans.

Only US citizens or, under certain conditions, US residents can apply. GradPlus loans are a complement to the Stafford loan, they aim at covering the difference between the total cost of attendance and all awarded aid, including Stafford.

What are the terms?

GradPlus loans are not need-based. They are open to all students who qualify for the unsubsidized Stafford loan. Students can borrow any amount up to cost of attendance minus all other aid, there is no aggregate limit.

The loan has a federal credit check process. The review looks for bad credit only. The student does not need to meet other financial standards nor have a co-signer as with private loans.

The interest rate is fixed at 8.5% throughout the life of the loan, including in-school or deferment periods. An origination fee of 3%, mandated by the US Department of Education, is deducted from the total loan amount.

There is no automatic grace period: repayment is due to commence within 60 days after the loan is fully disbursed or, upon request, 6 months after the student's enrollment drops below half-time.

How to apply?

The procedure is the same as for Stafford loans :

1. Complete a Free Application for Federal Student Aid (FAFSA)

When you apply for a GradPlus loan, this step is already behind you since it was done for the Stafford loan.

2. Choose your lender

The lender can be the same as for the Stafford loan or a different one.

3. Apply online with ASA

The link is the same as for Stafford loans: .

4.Entrance counseling

No entrance counseling is required if you have done the Stafford loan counseling after March 1st, 2009 since the counseling session offered takes care of both Stafford and GradPlus loans.

If however you had done the Stafford Entrance counseling before March 2009 and are now applying for a GradPlus loan, a specific GradPlus counselling is mandatory, please follow this link: .

5. Inform 老司机视频's financial aid office

The financial aid office will certify your loan online and keep you informed.

How are the funds disbursed ?

GradPlus funds are sent to 老司机视频 in two equal instalments via a 鈥楳aster Check', a few days before each semester. They will be posted to your student's account for an approximate Euro-value, which will be corrected to the exact amount as soon as the check is actually cleared. This can take a few weeks.

If this amount and the other funds possibly received on your account exceed your tuition, 老司机视频 will disburse this excess to you immediately. However no disbursement will be made to new students before the start of classes.

Exit counseling

In their last semester or in the last semester they are enrolled at least half-time, students have to complete an Exit Loan Counseling. This is combined with the Stafford loan exit counselling.

See also:

Return of Title IV funds