Posts Tagged ‘students’

h1

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. 

 

Advertisements
h1

Students feeling the pain of sequester cuts from fee hikes on there federal loans

March 15, 2013

The effects of the sequester have spread to the hallowed halls of education.

Both graduate students and the parents of undergrads have been slowly receiving letters from the federal Department of Education. The letters say the fees on their Direct PLUS loans from the government are being raised as a direct result of the automatic budget cuts that kicked in this month because Congress and the White House couldn’t come to a fiscal agreement.

“On August 2, 2011, Congress passed the Budget Control Act of 2011, which put into place automatic federal budget cuts, known as the ‘sequester.’ While this law does not otherwise change the amount or terms or conditions of your Direct Loan, it does raise loan fees on Direct PLUS Loans first disbursed after March 1, 2013 states the letter we received. 

“Specifically, the fee on your loan will increase from 4.0 percent of your loan amount to 4.204 percent. For example, the fee on a $10,000 PLUS loan will increase by $20.40 from $400.00 to $420.40,” the letter continues.

While the increase is slight, many families will still have to tighten belts on already strained budgets. If you or someone you know needs help consolidating and lowering there student loan debt payments than contact Nation Wide Consumer Debt Relief. We specialize in student loan consolidation. Call 877-282-7587 or go to http://www.nwcdr.com/student-loan-consolidation/