2. SOM Financial Aid Office Located at MMEC Room 4-306 Open from 8:00 am to 5:00 pm Ms. Bonnie Fore Financial Aid Counselor bhfore@vcu.edu Mr. Harris King Program Assistant hking1@vcu.edu

3. Financial Aid Application: FAFSA 2015-2016 www.fafsa.ed.govwww.fafsa.ed.gov – VCU School Code 003735 After your financial aid is awarded: Graduate Plus Loan Application (if you need additional funds) First time borrowers must fill out the Entrance Interview Counseling and MPN online (separate MPN’s for Unsubsidized Stafford and Graduate Plus Loan) Follow the instructions on the Financial Aid Checklist

4. Electronically sign the Master Promissory Note https://www.StudentLoans.gov https://www.StudentLoans.gov Complete the Federal Direct Loan Entrance Counseling https://studentloans.gov/myDirectLoan/index.action https://studentloans.gov/myDirectLoan/index.action Complete and submit an Authorization to use Federal Title IV Funds Complete a Federal Graduate Plus Loan request – if you need additional funds Sign up for Direct Deposit Electronic Consent to participate in electronic transactions (no form needed, completed online through eservices) All forms can be found at the Main Financial Aid website http://finaid.vcu.edu/resources/forms.html http://finaid.vcu.edu/resources/forms.html

5. Your EID is generally your email address. Your V# is your assigned identification number, please memorize it. VCU eservices allows you to view your student information online.

8. Maximum amount of Federal Direct Unsubsidized Stafford Loan for Fall/Spring $ 20,500 Maximum amount of Federal Graduate Plus Loan Graduate Students: $ 12,538 (in state), $ 24,386 (out of state) CERT Students: $ 32,186 (in state), $ 32,811 (out of state)

9. Scholarships/Stipends Federal Student Loans – Federal Direct Unsubsidized Stafford Loan – Federal Direct Graduate Plus Loan Private Student Loans Federal Government is your Lender on the Federal Student Loans.

10. Interest 1415 (7/1/14- 7/1/15) Interest 1516 (7/1/15- 7/1/16) Origination Fee 1415 (10/1/14- 10/1/15) Origination Fee 1516 (10/1/15- 10/1/16) Direct Unsubsidized Loan 6.21%5.84%1.073%1.068% Direct Graduate Plus Loan 7.21%6.84%4.292%4.272%

11. Direct Unsubsidized Loan $ 20,500 per academic year. No credit check. Fixed interest rate 5.84%. In school deferred. 6 months grace period. Direct Graduate Plus Loan Difference between COA and other aid. Requires credit check. Fixed interest rate 6.84%. In school deferred. 6 month post enrollment options.

12. The interest rates on the Stafford and the Graduate Plus Loan change every year July 1 st. The rate is determined by the Congress. Interest will capitalize at repayment. – Capitalization is the addition of unpaid interest to the principal balance of a loan. When the interest is not paid as it accrues during periods of in-school status, the grace period, deferment, or forbearance, your lender may capitalize the interest. There is no prepayment penalty on your federal loans.

13. A loan servicer is a company that handles the billing and other services on your federal student loans. You do not select your loan servicer. It is assigned by the U.S Department of Education. FedLoan Servicing (PHEAA), Great Lakes, Nelnet, Navient, etc.

14. National Student Loan Data System Federal Loan History: Stafford, Grad PLUS, Consolidation, Perkins Loans www.NSLDS.ed.gov Direct Loans will be indicated Information on Servicers

15. Debt levels and the COA have been increasing There will most likely be more policy changes throughout your education Challenge is to graduate with the least amount of debt and reduce the impact of debt Be aware of your loan portfolio and keep track of your loans

16. In School deferment: SOM will verify your enrollment through the National Clearinghouse process however, make sure all your loan payments are current until you confirm that you have in school deferment again. Loan portfolio: FFELP vs. Direct Loans, Perkins, Private, etc.

17. Deferment Forbearance IBR – Income Based Repayment Plan PAYE – Pay as you Earn

18. SOM Financial Aid Office MMEC 4th Floor, Room 4-306 8:00 am to 5:00 pm

19. GOOD LUCK!