The 2017-18 Free Application for Federal Student Aid is now available, and we encourage both prospective and continuing students to complete it and apply for federal financial aid as soon as possible. An executive action from President Obama makes the FAFSA available earlier for students applying for financial aid in Fall Term 2017. Students will also use information from 2015 tax returns.
This newsletter edition kicks off the 2016-17 academic year, featuring information about when you will receive your aid, how to sign up for the Michigan App, working on campus, and other key items to help you navigate your financial aid. Read more in the full newsletter.
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.