Are you a new federal Direct Loan borrower since July 2013? You are subject to a new federal regulation that limits your loan subsidy to 150 percent of your degree program. If you are in a four-year program, for example, and have attended for six years, you will no longer received subsidized loans and will be responsible for interest on your loans.
The Office of Federal Student Aid has launched a new one-stop website, studentloans.gov/repay, to help borrowers navigate student loan repayment options and select their best option in five steps or less. The initiative is part of the federal government's push to enroll as many student borrowers as possible in income-driven repayment plans for their student loans.
The application period for federal Direct PLUS Loans is now open for U-M graduate students and parents of dependent undergraduates seeking PLUS Loan funding for the 2016-17 academic year. To apply, visit studentloans.gov.
April 30, 2016 is the priority deadline to apply for 2016-17 financial aid at U-M. We must receive your Free Application for Federal Student Aid (FAFSA) by this date to consider you for all financial aid programs. Entering students also complete the CSS Financial Aid PROFILE to be considered for grant aid.