New Direct Loan rules

[Premed2500]

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I know this isn't the fin aid forum but I wanted to post it. I don't think many students know about this and it is important.


new changes effective July 1 2012.

http://www.finaid.wisc.edu/213.htm

http://chicagofinancialaid.northwest...n-changes.html

 

[GimpGenius]

Most, if not all, interview days have a financial aid session where they outline issues like this. I'm not sure how the loss of subsidized loans will affect everyone in the long run (unsubs are still available, but I haven't seen a numbers comparison between the old standards and the new ones). Unless they've changed things more than those sites suggest, medical students still don't have to pay on the loans until six months after graduation, and they should still be eligible for income-based repayment (IBR) during the first part of their residency.

Checking out Direct Loans should provide more guidance (including customer service if there's any confusion.

www.direct.ed.gov

 

[Premed2500]

No I am not confused. I just see people stating the wrong limits and some still think sub loans will be disbursed. Just wanted to inform people.

 

[GimpGenius]

That was more directed toward the general public; since you posted the information, I'm assuming you're on the ball. 😉

Thanks for putting the word out, though!

 

[Premed2500]

Oh sorry.

 

[cliquesh]

that really sucks