2014 Summer Term Direct Loans Delayed

May 7, 2014

**Important Note**

If you are planning on receiving any Federal Direct Loans (Subsidized or Unsubsidized) through the FAFSA application process you need to be aware that the first disbursement for summer term only will be delayed until July 3, 2014.

If you are planning on charging books against any remaining balance on your account (after tuition & required fees have been deducted) please see the Financial Aid Office and request a book voucher.

As a reminder, the Federal Budget Control Act of 2011 (sequester law) placed limits on the amount of time that students can receive Direct Subsidized* Loans (up to 150% of the published length of your program) and placed annual increases on the loan origination fee. These changes at the Federal level have resulted in programming changes to computer systems which have delayed the ability of colleges to originate and ultimately disperse loan funds to students when the term begins prior to July 1, 2014.

*The eligibility time limit does not apply to Direct Unsubsidized Loans.