Hop out 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.
Discover several installment options. Extent and you will amount of your repayments is dependent on just how far your own lent and you may hence installment package you decide on. To possess information about the different installment arrangements, head to .
Locate a whole reputation of your government loan borrowing from the bank and you will to find your loan servicer (whether your mortgage(s) was indeed allotted to good servicer), log on to the latest National Education loan Study System (NSLDS) at nslds
As soon as your mortgage is during fees, it will be allotted to financing servicer. You’re informed who’s repair the loan(s) before you can go into fees. ed.gov utilizing your FSA ID.
In the Head Mortgage program, the fresh You.S. Department of Knowledge ‘s the bank for the education loan. The brand new Direct Together with mortgage system can be acquired to moms and dads out-of a created undergraduate beginner that is entitled to financial aid. Instead of this new Direct Fund for students, in the event, parents making an application for an immediate In addition to Loan need certainly to meet specific borrowing standards.
- Your college student need to complete a no cost App to have Federal Pupil Assistance (FAFSA) in the that have Ivy Technical People College or university indexed as among the college or university choices (university password: 009917). If you or even the pupil must fill in any kind of records, those also needs to end up being assessed because of the Financial aid Place of work prior to your loan eligibility will likely be calculated.
- Sign up to using their FSA ID. Less than “Submit an application for Services” lick for the link to “Submit an application for a grandfather Plus Financing” and you may stick to the measures. Note: A credit check would-be performed.
- Should your borrowing is approved, try to over a master Promissory Notice (MPN). Definitely finish the MPN into “Mother or father Along with” financing alternative.
- Your information will be sent to Ivy Tech Community College, where the Financial aid Workplace 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 Educational 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.
Borrowing from the bank Limits: 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 numerous servicers based the loan background
Posting and you can 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.
