Hop out 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.
There are multiple repayment possibilities. The total amount and you will duration of your payments depends upon how far their lent and you can and this installment plan online payday loans California you select. To have information on the many fees preparations, visit .
Locate a complete reputation of your own federal mortgage borrowing and discover the loan servicer (in case the loan(s) was assigned to a great servicer), log on to this new Federal Student loan Data Program (NSLDS) within nslds
Once your loan is during repayment, it might be assigned to financing servicer. You might be notified who’s repair the loan(s) one which just enter into installment. ed.gov utilizing your FSA ID.
About Lead Loan system, the latest U.S. Service away from Training is the bank for the student loan. The fresh Head And additionally loan system exists so you’re able to mothers away from a beneficial built undergraduate beginner who is entitled to school funding. Unlike this new Head Fund for students, regardless if, parents obtaining a primary And Financing need meet particular borrowing from the bank criteria.
- Your pupil need certainly to over a free of charge Application to possess Government Scholar Services (FAFSA) during the that have Ivy Technical Area School noted as one of the school choice (college code: 009917). For those who or the beginner are required to fill out another records, people might also want to become reviewed because of the Educational funding Place of work ahead of your loan qualification is going to be computed.
- Sign on to presenting the FSA ID. Less than “Get Assistance” lick for the link to “Get a parent Plus Financing” and you may stick to the measures. Note: A credit check would be performed.
- In the event your borrowing is eligible, try to complete a king Promissory Mention (MPN). Definitely finish the MPN to the “Moms and dad Plus” mortgage alternative.
- Your information will be sent to Ivy Tech Community College, where the School funding Work environment 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 Workplace 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 from the bank 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 the loan record
Upload and 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.