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Financial Aid News

June 5, 2016

Starting in 2016, the FAFSA will be released on October 1st of each year, as opposed to January 1st of each year. Click here to find out why that is important news.

April 3, 2015

The credit check expiration for applicants applying for a Direct PLUS loan has been extended from 90 days to 180 days. Click here to find out why that is important news.

March 29, 2015

Starting on March 29, 2015 the U.S. Department of Education (ED) will be making important changes to the Direct PLUS Loan Program that will impact borrower eligibility. Click here to learn more.

January 1, 2015

The FAFSA (Free Application for Federal Student Aid) is now available for the 2015-2016 award year. First time financial aid applicants (and their parents if dependent) will need to apply for a federal PIN number in order to sign the FAFSA. When filing the FAFSA before your taxes are filed use estimated income information and select the "Will File" option.

October 1, 2014

Origination fees on Federal Direct Loans increased on October 1, 2014, the first day of the U.S. Government’s 2015 fiscal year. Subsidized and unsubsidized loans received an origination fee increase from 1.072% to 1.073% while PLUS loans received an origination fee increase from 4.288% to 4.292%. For borrowers of PLUS loans this is the highest origination fee percentage in history. Subsidized and unsubsidized loan borrowers are still enjoying relatively low origination fees compared to origination fees between 2008 and 2010.

September 26, 2014

HR 5577 was introduced by Rep. Susan A. David, a democrat from California. This legislation proposes to amend the Higher Education Act of 1965 to eliminate origination fees on Federal Direct Loans. If the legislation eventually becomes law the effective date would not be until July 1, 2015.