PDA

View Full Version : ELIMINATION OF FFELP etc...



A.Bush
04-02-2010, 01:16 PM
HERE WE GO WITH ANOTHER ISSUE!!

SO the US government has passed new legislation that will eliminate the Family Federal Education Loan Program...

So any students that have Stafford loans and parent plus loans through banks will need to re-apply through the Federal Direct Loan program which is directly handled by the federal government.

All student studying in foreign institutions would need to wait for the government to assign financial institutions approved by the dept of education that will supply these schools with money...

So effective July 1, 2010 any second disbursements we would have for loans will be cancelled and we need to reapply for that second part, not knowing when the heck we are going to receive that money and causing yet another headache!!! :doh:

I will talk to financial aid on monday to see what they are doing, Wachovia for example told me that if UNIBE schedules the second disbursement before September 1, 2010 then the money will go out...if not the second disbursement will be cancelled...

I'll keep in touch everyone with updates....

Unfrozen Caveman Lawyer
04-23-2010, 08:45 PM
Any updates? Please do keep us posted as this has the potential to affect a lot of us...

Thanks!

A.Bush
04-28-2010, 04:21 PM
Hey there everyone!!

Good news, UNIBE surprisingly has managed the situation pretty nicely, everyone will be getting their first and second disbursements no problem :D.


However I remind everyone that for next year january-may 2011 everyone will be required to apply through the direct loan program from the govn't UNIBE is pretty prepared and i am very impressed!


Hope this was a slight relief to some, remember to do your FAFSA, its due once more.

Much peace, love, and light to all

A.Bush







Copyright © 2003-2018 ValueMD, LLC. All rights reserved.