Log 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 will find multiple repayment choices. The total amount and amount of your repayments is dependent on just how much their lent and you may and therefore installment plan you decide on. To possess information about different installment arrangements, see .
To find a complete reputation for the federal loan credit and you may to track down the loan servicer (in case your mortgage(s) was in fact assigned to a beneficial servicer), get on brand new Federal Student loan Study System (NSLDS) on nslds
When your loan is during cost, it might be assigned to that loan servicer. You’re notified that is servicing the loan(s) before you can go into installment. ed.gov with your FSA ID.
Regarding Head Loan system, brand new You.S. Service from Degree is the financial to suit your student loan. The fresh Lead Plus financing system can be acquired so you can parents out of an effective dependent undergraduate college student who’s entitled to educational funding. Rather than the new Lead Fund for students, though, moms and dads trying to get a direct As well as Mortgage need certainly to satisfy particular credit requirements.
- Their beginner have to complete a totally free Software getting Federal Pupil Services (FAFSA) during the having Ivy Technology People College or university detailed as among the school alternatives (school code: 009917). For many who or the college student have to complete almost every other files, people might also want to getting examined by the School funding Work environment ahead of your loan qualifications will likely be determined.
- Sign on to presenting their FSA ID. Lower than “Apply for Services” lick towards the link to “Make an application for a father Including Loan” and stick to the tips. Note: A credit score assessment was performed.
- If your borrowing is eligible, make an effort to done a king Promissory Note (MPN). Make sure you complete the MPN towards “Father or mother And additionally” financing choice.
- Your information will be sent to Ivy Tech Community College, where the Financial https://guaranteedinstallmentloans.com/payday-loans-tx/ 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 university Educational funding Work environment 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 Limits: 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 have several servicers based on your loan history
Upload 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.
