TEDx Explores Harmonic Tectonics
TEDx Explores Harmonic Tectonics
NYIT Students Surpass the $1 Million Mark in Combined Earnings from Internships
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NYIT Engineering Professor Wins NIH Grant for Robotics Research
“The Year of Turkey 2014” - The Heritage of Turkish Art: Opening Reception
“The Year of Turkey 2014” - The Heritage of Turkish Art: Exhibition
Relay for Life Interest Meeting
Interdisciplinary Studies Career Panel
Prep session for upcoming Hackaton by Juniper Networks/Comcast SDN Software Workshop and Competition
For further information regarding the Federal Direct Loan Program visit the United States Department of Education online for information about the program themselves.
All students should attend an in person "Exit Counseling Session" during their final semester at NYIT. The purpose of this session is to make sure that students understand their rights and responsibilities as they enter repayment.
Do you have an accurate record of all your federal student loans? As you enter repayment, you should check your records on the National Student Loan Data System.
Another good general resource is Mapping your Future's Deferment Navigator.
The Federal Budget Control Act of 2011 has eliminated Subsidized Stafford Loans for graduate students.
For any period of enrollment beginning on or after July 1, 2012, graduate students will no longer be eligible to borrow Subsidized Stafford Loans. Graduate students may continue to borrow Unsubsidized Stafford Loans and Graduate PLUS Loans. The terms and conditions of Direct Subsidized Loans received by any student for loan periods beginning before July 1, 2012 are not affected by this change. This only affects NEW loans made on or after July 1, 2012.
If you have any questions regarding this new law, please contact the Financial Aid Office at 516.686.7680 or email@example.com.
As outlined in your entrance counseling, the subsidized loan has slightly better terms than the unsubsidized: historically, the US Department of Education has paid the interest for a subsidized loan while you're in school at least half-time and the interest rate has been lower than the rate for unsubsidized loans. If you are a first-time borrower or have paid off previous loans, MAP-21 affects you by limiting the time period during which you can receive Direct Subsidized loans to 150% of the standard, published length of the program in which you are enrolled. For a 4-year bachelor’s degree program, the maximum period you can receive subsidized loans is 6 years (150% of 4 years = 6 years). The period used will be reduced for less than full-time study.
Once you have received Direct Subsidized Loans for your maximum eligibility period, you may continue to receive Direct Unsubsidized loans and your subsidized loans may begin accruing interest, including any portion of a Direct Consolidation Loan that was used to pay off a Direct Subsidized Loan. Congress wants to encourage students to obtain a degree within a reasonable time frame. We recommend you contact your advisor to help ensure you're enrolling in classes required to complete your degree and avoid excess withdrawals or retaking of coursework. Resources like your campus tutoring center can help you meet your goals. View more information on Direct Subsidized Loan Limits (pdf), or contact the Financial Aid Department at 516.686.7680.