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Financial Aid Instructions
Important Information for 2012-13
GRADUATE FEDERAL DIRECT LOANS SUBSIDY ELIMINATED
EFFECTIVE FALL 2012
There has been an important change to the Federal Direct Loan program that
will affect graduate students. This change is a result of the Budget Control Act
of 2011 that was passed by Congress on August 2, 2011.
Beginning with the fall semester of 2012, graduate/doctoral students will only
be eligible to borrow Unsubsidized Federal Direct Loans. This means that
Subsidized Federal Direct Loans, which don't accrue interest while in a
deferment status, will only be available to graduate/doctoral students through
the summer 2012 semester.
Please note that this change will not affect the annual and aggregate borrowing
limits. The maximum amount a student can borrow is the lesser of $20,500 per
academic year or the annual cost of attendance. Keep in mind that you must be
enrolled at least half-time (5 credits) in order to receive a Federal Direct
Loan.
If you have any questions about this or other topics, please contact Off-Campus
Programs Financial Aid at 1-800-664-2681, option #2, or through e-mail at
ocpfa@cmich.edu.
Special Instructions
Use the
Financial Aid Manual to walk you through the process. If
you are a first time borrower, you will also need to complete the initial
counseling session.
Learn more about:
Use the
Financial Aid Checklist to ensure you have completed the necessary steps to
complete the process. Then download the necessary
Financial Aid Forms.
After reviewing this information, if you have specific questions regarding your
eligibility or other issues, please contact:
- your local program administrator
- the CMU off-campus Financial Aid Department, Central Michigan University, (800)
664-2681, option #2
- CMU Office of Scholarships and Financial Aid (OSFA), (888) 392-0007.