Posts Tagged ‘loans’

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Students with criminal convictions have limited eligibility for federal student aid. You need to make sure you understand your status, and don’t assume you can’t get aid.

April 18, 2013

Yes, your eligibility may be suspended if the offense occurred while you were receiving federal student aid (grants, loans, or work-study). When you complete the FAFSA, you will be asked whether you had a drug conviction for an offense that occurred while you were receiving federal student aid. If the answer is yes, you will be provided a worksheet to help you determine whether your conviction affects your eligibility for federal student aid.

If your eligibility for federal student aid has been suspended due to a drug conviction, you can regain eligibility early by successfully completing an approved drug rehabilitation program or by passing two unannounced drug tests administered by an approved drug rehabilitation program. If you regain eligibility during the award year, notify your financial aid office immediately so you can get any aid you’re eligible for.

If you are convicted of a drug-related offense after you submit the FAFSA, you might lose eligibility for federal student aid, and you might be liable for returning any financial aid you received during a period of ineligibility.

Other convictions that can limit eligibility are: 

If you have been convicted of a forcible or nonforcible sexual offense and you are subject to an involuntary civil commitment upon completion of a period of incarceration for that offense, you cannot receive a Federal Pell Grant. 

Make sure you understand your status, and don’t assume you can’t get aid. 

 

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Attention all Teachers!!!

March 13, 2013

ATTENTION ALL TEACHERS!!!!

There are two types of loan forgiveness programs for teachers: Teacher Loan forgiveness for Direct Subsidized Loans, Direct Unsubsidized Loans, Subsidized Federal Stafford Loans, and Unsubsidized Federal Stafford Loans Teacher Cancellation for Federal Perkins Loans


Teacher Loan Forgiveness

The Teacher Loan Forgiveness Program is intended to encourage individuals to enter and continue in the teaching profession. Under this program, if you teach full-time for five complete and consecutive academic years in certain elementary and secondary schools and educational service agencies that serve low-income families, and meet other qualifications, you may be eligible for forgiveness of up to a combined total of $17,500 on your Direct Subsidized, Direct Unsubsidized Loans, and Unsubsidized Federal Stafford Loans. If you have Plus Loans only, you are not eligible for this type of forgiveness.

What are the eligibility requirements?Contact Nation Wide Consumer Debt Relief for more info. Call 877-282-7587 or go to http://www.nwcdr.com/student-loan-consolidation/