Issue link: https://www.e-digitaleditions.com/i/856285
20 Student Services 2017-2018 Non-Work Study Employment Some departments on campus may have institutional funds to hire student employees. Positions for these work opportunities may be posted in Career Services. William D. Ford Federal Direct Loan Program (Direct Loan) Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education rather than a bank or other financial institution. With the Direct Loan, eligible students borrow directly from the federal government and have a single contact—their loan servicer—for everything related to the repayment of their loans. Additionally, the student will have online access to their Direct Loan account information at WWW.NSLDS.ED.GOV/NSLDS_SA/. Awarding is subject to student eligibility, including program of study and existing debt level, as well as subject to terms of a default management plan. All student borrowers are required to attend an entrance counseling session as well as an exit interview to ensure full understanding of rights and responsibilities associated with a student loan. The student must still be enrolled in their program and eligible for the loan at the time of disbursement (for Credit programs the student must be enrolled in 6 or more viable credit hours, classes graded with a grade of F, Y, Z, W are no longer viable). An exit interview must also be completed when a student is withdrawn or graduates from a program. The interest rate on Direct Loans are variable, but will never exceed 8.25%. Accepting all loans offered may negatively affect eligibility for need-based scholarships and federal work study opportunities. Loans always require repayment, students are encouraged to take a loan only after exploring all other funding possibilities. Accepting all loans offered may negatively affect eligibility for need-based scholarships and federal work study opportunities. Subsidized Loan - Eligible students who meet the federal definition of "need" may receive Subsidized loans, whereby the federal government pays interest on the loan until the student enters repayment. No interest is charged as long as the student is enrolled at least half-time and during deferment periods. Unsubsidized Loan - Students who are otherwise eligible for loan, but who do not qualify for the Subsidized loan, may receive Unsubsidized loans. Interest immediately begins accruing on the Unsubsidized loan and the student will be responsible for the interest from the moment the loan is disbursed until it is paid in full. Effective July 1, 2013 (for all students who receive loans for the first time), the Federal Direct Subsidized Loan has a maximum period of time that they will be eligible for the interest subsidy. This period of time cannot exceed 150% of the published length of the student's program or three years, whichever is less. Additionally, this timeframe is cumulative and will carry over when students change their programs of study. If students continue enrollment after receiving subsidized loans for their maximum eligibility period, they will lose eligibility for additional subsidized loans. Furthermore, their prior subsidized loans will begin accruing interest like the Federal Direct Unsubsidized loan. Withdrawal of Financial Aid Students - Financial Aid Refund/Repayment Information (Return of Title IV) In accordance with federal regulations (34CFR 668.22), a student may be required to repay federal financial aid funds if they completely withdraw or are withdrawn, or fail to earn a passing grade from all classes during a term. A Student Owed Repayment (funds due back to the federal government) if not repaid is considered an Overpayment and will affect a student's ability to receive Financial Aid in the future at any school. Students are affected by this policy if completely withdrawn from all credits or their program (Clock) before completing 60% of the semester/payment period, or if a withdrawal from a class (or classes) reduces the length of time they will attend during the semester/payment period, and they have received federal financial aid (referred to as Title IV funds) for that same period. Aid must be recalculated and adjusted. Any adjustments to the student's award can be found at my.maricopa.edu under the student's account. Calculation examples are available from the school's Office of Student Financial Assistance. Students are referred to the Maricopa Community Colleges' withdrawal policy concerning the