Are you an Undergraduate level student?
If you are, then you are eligible for an
additional $2000 in the Federal Stafford Unsubsidized Loan Program.
On May 7th, 2008,
President Bush signed the Ensuring Continued Access To Student Loans Act
(H.R. 5715) into law. This law provides additional Unsubsidized
Stafford loans in the amount of $2000 for all undergraduate students and
increases the aggregate loan limits to $31,500.00 for Undergraduate
Dependent students and $57,500.00 for Undergraduate Independent
students. (In neither case can the subsidized portion be more than
$23,000.00, and normal packaging rules will apply which could limit the
total amount of the loan award.)
Due to timing of this change, we
have began the processing of these extra funds for all students who
already have a loan in place for the upcoming year. By the end of July,
we should have all student awards updated and they will be available for
viewing on the BeeLine. If you do not wish to borrow the additional
Unsubsidized Federal Stafford Loan, please notify our office for
cancelation. As normal, you will have 14
days to cancel once the loan funds have disbursed on August 13th.
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