Exit Guidance: Once you graduate, stop attending or are no longer enrolled in at least 6 credit hours, you will be required to complete Exit Counseling, even if you plan to transfer to another school or return to Ivy Tech Community College in a future semester. Exit Counseling explains your responsibilities for repayment of your Direct Loan and provides information on how to manage your student loans. To complete Exit Counseling, visit and click on the “Complete Exit Counseling” link.
Repayment: Since this is a loan, you must repay the funds you borrowed along with any interest or fees that may have accrued.
You’ll find numerous payment options. The quantity and you may period of your instalments will depend on exactly how far your borrowed and you will and that cost bundle you choose. To possess details about the many installment plans, head to .
To find a whole history of your federal loan borrowing from the bank and discover the loan servicer (in case your mortgage(s) was in fact assigned to a servicer), log on to this new National Education loan Analysis System (NSLDS) at nslds
When your loan is within cost, it could be assigned to financing servicer. You may be informed who is upkeep your loan(s) before you could enter cost. ed.gov making use of your FSA ID.
Regarding the Direct Financing system, this new U.S. Agency of Knowledge is the financial for the education loan. The newest Head Also mortgage system exists so you’re able to mothers regarding a situated undergraduate college student who is eligible for financial aid. Unlike the new Lead Money for students, even though, mothers obtaining a direct As well as Loan need to see certain borrowing standards.
- Their student need complete a free of charge Software to own Government Pupil Help (FAFSA) at which have Ivy Tech Area University listed as among the college or university options (school code: 009917). For folks who or even the student must complete all other data, those individuals should getting assessed because of the Financial aid Work environment just before your loan qualification can be determined.
- Sign up to using your own FSA ID. Significantly less than “Sign up for Support” eat into relationship to “Apply for a dad Plus Financing” and you may follow the measures. Note: A credit score assessment could be performed.
- In case your credit is approved, try to complete a master Promissory Notice (MPN). Definitely complete the MPN toward “Father or mother Including” loan solution.
- Your information will be sent to Ivy Tech Community College, where the Educational funding Work environment will determine the maximum amount you can borrow. The Financial Aid Office will process your loan for the amount requested or the amount available, whichever is greater. Please note: if you selected the loan period for the entire academic year, your loan amount will be split in to half for fall semester and half for spring semester.
If your credit is not approved during the credit check process, you still have options if you wish to receive the Direct PLUS Loan. You will be notified of these options after the credit check is complete or you can contact your student’s university School funding Office for information. If you are not able to obtain a Direct Parent PLUS Loan, your student may be eligible for additional Direct Unsubsidized Loan funds. The student should contact his/her campus Financial Aid Office for more information.
Credit Restrictions: The amount a parent can borrow is based on the student’s enrollment, grade level and other financial aid received. Based on these factors, the Financial Aid Office will determine the maximum amount you can borrow.
You have got several servicers based on your loan background
Post and you can https://tennesseetitleloans.net/ Refunds: All federal student aid, including Direct PLUS Loans, must first be sent to Ivy Tech Community College to pay any outstanding tuition, fees or other applicable charges. If there are excess funds from the Direct PLUS Loan after all applicable charges have been paid, a refund will be generated. Visit for more information on the posting and refunding process.