These are the two online processes that must be complete in order to borrow a federal direct loan.
What is Entrance Counseling and Master Promissory Note?
This type of federal loan does NOT accrue interest while you are in school.
What is a subsidized loan?
This is what you will get if you pay your tuition bill late.
What is a late fee (of $50/month)?
This is the maximum loan amount first-year (dependent) students can borrow in a Federal Direct loan.
What is 5500?
This is the website where you can get a free copy of your credit REPORT from one of the 3 credit bureaus.
What is annualcreditreport.com?
This is the GPA requirement to maintain satisfactory academic progress.
What is 2.00?
This is the maximum loan limit amount that a dependent student can borrow for ALL federal direct loans as an undergraduate (also called the AGGREGATE LIMIT)?
What is $31,000?
To receive the full Mass Grant, these are how many credits you will need to enroll in.
What is 12 credits?
For each Federal Direct Loan, a percentage rate of interest is charged, along with this.
What is an origination fee?
Making your payments on-time makes up this percentage of your credit score.
What is 35%?
To maintain satisfactory academic progress, you must maintain this progression rate.
What is 66%? That is, you must satisfactorily complete 66% of the courses attempted or else risk losing financial aid.