Student Loan Options and Financial Aid

Student Loan Options and Financial Aid

Student loan choices embrace: U.S. Federal Direct Student Loans, U.S. non-public student
loans, Italian non-public loans and worldwide authorities funded loans and grants.
For questions, please contact JCU Financial Aid Office. 

U.S. Federal Direct Student Loans

JCU participates within the U.S. Title IV Loan Program for Federal Direct Subsidized/Unsubsidized
Loans and Parent PLUS loans. If you’re a United States citizen, or a eligible non-citizen,
enrolled in an affiliate, undergraduate or graduate program at John Cabot University
it’s possible you’ll be eligible to borrow U.S. Federal Direct Loans. 

To apply for Federal Direct Loans (Subsidized, Unsubsidized and/or PLUS loans), you
should full and submit the Free Application for Federal Student Aid (FAFSA), and embrace JCU’s School Code, G33293, on the appliance. Once accomplished, a duplicate
of the Student Aid Report (SAR) is shipped on to the Office of Financial Aid, electronically.

New FAFSA utility should be submitted for every year of examine earlier than any Federal
Student Aid may be awarded. You might start to fill out your FAFSA for the upcoming
tutorial yr on October 1st.

  • October 1st: FAFSA utility opens on www.studentaid.gov
  • June 1st: FAFSA functions due
  • June thirtieth: Financial Aid Package paperwork & on-line loan procedures due 
  • Jul fifteenth: Full tuition cost deadline*
  • Mid Sept: Fall semester Direct Loan Disbursement (Week after Add/Drop)
  • Nov fifteenth: Financial Aid Package paperwork & on-line loan procedures due
  • Mid Jan: Spring semester Direct Loan Disbursement for (Week after Add/Drop)

*Only the steadiness not lined by Federal loans, non-public loans, or institutional assist
is due. Students receiving US Federal or non-public loans can be billed in USD regardless
of citizenship standing.

Federal Direct Subsidized Loan:

  • For undergraduate students who qualify for sponsored direct loans, the federal government
    pays the curiosity on the loan till the student enters reimbursement after commencement
    or withdrawal.

Federal Direct Unsubsidized Loan:

  • Undergraduate & graduate students who obtain an unsubsidized direct loan are accountable
    for the curiosity that accrues throughout faculty, and through grace and deferment intervals.
    If not paid whereas the student is in class, curiosity is capitalized (added to the
    loan steadiness) on the finish of the borrower’s grace interval. The curiosity on this loan
    is minimal when in comparison with non-public loans.

Federal Direct Parent PLUS Loan:

  • Parent PLUS Loans for Undergraduate Students (PLUS) can be found to oldsters of dependent
    undergraduate student to assist finance their student’s training. Parents might borrow
    as much as the official Cost of Attendance,minus the quantity of some other monetary assist
    obtained. A credit test is required for the PLUS loan. Parent PLUS loans have aggressive
    loan charges, rates of interest, and reimbursement choices.

Federal Direct Grad PLUS Loan:

  • Graduate students might borrow Federal Direct Grad PLUS Loans to assist pay the remaining
    price of attendance. This loan requires a credit test and curiosity accrues upon disbursement.
    Interest charges and authorities origination charges might differ from Direct Unsubsidized
    loans.

Please observe: Current US authorities laws prohibits US residents enrolled in faculties
or universities outdoors the United States from receiving Pell Grants, SEOG, Perkins
Loans, or Federal Work Study funds, though they could be eligible for such help.
Further, JCU shouldn’t be approved to manage Federal Student Aid to visiting students.
Visiting student might, nevertheless switch any current assist from their dwelling establishment
within the US to John Cabot University.

John Cabot University will decide a student’s Federal Direct Loan eligibility when
a FAFSA utility is submitted with JCU’s faculty code, G33293. Each eligible student
will obtain a Financial Aid Package from JCU containing the quantity of JCU institutional
assist obtained, and their Direct Subsidized/Unsubsidized and Parent PLUS loan eligibility.
Detailed directions for borrowing federal direct loans are additionally included.

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  • Students transferring to JCU should submit all transcripts for a Transfer Credit Evaluation so as for his or her federal loan eligibility to be calculated.

US Federal Aid recipients who full coursework on-line or within the US danger dropping
federal loan eligibility upon returning to JCU. This impacts students who spend a
time period(s) at a US college or examine overseas with a program hosted by a US establishment
or examine overseas group. This additionally impacts students through distance packages, together with
on-line and distant studying codecs.

Students are required to make passable tutorial progress with a purpose to persevering with
receiving Federal Student loans. The JCU Financial Aid Office displays Satisfactory
Academic Progress on the finish of every semester. Students should meet the next minimal
necessities:

  • Minimum cumulative Grade Point Average (GPA)
  • Hours tried versus efficiently accomplished
  • Maximum time to finish a program

Students who don’t meet these necessities might have their Federal Student Aid withdrawn.
Download the whole John Cabot University SAP Policy.

Once you’ve graduated, withdrawn, taken a depart or absence or are not enrolled
at the very least half time, you’ll enter a 6-month grace interval in your Federal Direct Subsidized
and Unsubsidized Loans, throughout which era you aren’t required to make loan funds.

You should start reimbursement on the finish of your grace interval. Your loan servicer will
give you a loan reimbursement schedule that states when your first cost is
due, the quantity and frequency of funds, and the quantity of every cost.

If you withdraw from the college previous to finishing greater than 60% of a time period, JCU
will decide the quantity of Title IV Federal Student Aid that you’ve got earned, and
what funds should be returned. The Title IV packages included are Direct Stafford Loans
and Direct PLUS Loans. Download the whole Return to Title IV Policy.

Before you graduate or withdraw, you’re required to finish the Exit Counseling.
You might full the Exit Counseling on-line.

Federal Direct Loan Annual & Lifetime Limits

Student Classification (variety of credit hours earned)

Dependent Students (besides students whose mother and father are unable to acquire PLUS Loans)

Independent Students (& dependent undergraduates whose mother and father are unable to acquire PLUS Loans)

1st Year (0-29 credit) Undergraduate Annual Loan Limit

$5,500 (Max. $3,500 Subsidized)

$9,500 (Max. $3,500 Subsidized)

2nd Year (30-59 credit) Undergraduate Annual Loan Limit

$6,500 (Max. $4,500 Subsidized)

$10,500 (Max. $4,500 Subsidized)

third Year & Beyond (60 or extra credit) Undergraduate Annual Loan Limit

$7,500 (Max. $5,500 Subsidized)

$12,500 (Max. $5,500 Subsidized)

Graduate or Professional Students Annual Loan Limit

Not Applicable (graduate & skilled students are impartial)

$20,500 (Unsubsidized solely)

Subsidized & Unsubsidized Aggregate Loan Limit 

$31,000 (Max. $23,000 Subsidized)

$57,500 – undergraduates (Max. $23,000 Sub.)        $138,500 – grad/prof. students
(Max. $65,500 Sub.)

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U.S. Private Student Loans

Private loans can be found to degree-seeking and examine overseas students who’re United
States residents and everlasting residents. JCU encourages students and households to first
take into account paying for college with financial savings, grants, scholarships, and federal student
loans. Students and households ought to estimate all anticipated month-to-month loan funds,
and the way a lot the student expects to earn sooner or later, earlier than contemplating a personal
student loan. Note, JCU doesn’t endorse Sallie Mae loans, although they could be used
at U.S. overseas faculties. Students are inspired to discover all non-public loans choices.

For mother and father or different creditworthy people who need to take duty for
financing their student’s undergraduate or graduate diploma at a degree-granting faculty.

The Sallie Mae Parent Loan may also help your student get the cash they want. Learn extra
concerning the Sallie Mae® Parent Loan.

Note, the Sallie Mae Parent Loan and the Smart Option Student Loan® are separate merchandise
with totally different options and out there rates of interest.

For graduate students to pay assist for bills when pursuing a grasp’s or doctoral
diploma.

When financial savings, scholarships, and federal assist aren’t sufficient to pay to your faculty
bills, you’ll find non-public graduate student loans designed to your discipline of examine.
The Sallie Mae Graduate School Loan may also be an alternative choice to the Federal Direct
Grad PLUS Loan, and in case you are extremely certified, it’s possible you’ll obtain a decrease curiosity
price.

Learn extra concerning the Sallie Mae® Graduate School Loan.

International Student Loans, Grants & Scholarships 

Student loans, grants & scholarships could also be out there to degree-seeking and examine
overseas students via their dwelling nation. 

Brazilian students might apply for the Leaders Study 2020 Scholarship to make use of in direction of
their research at JCU. For extra info, please go to the Líderes Estudar web site.

Canadian students might use Canadian federal and provincial student loans & grants whereas
finding out at John Cabot University. 

Please go to your provincial and territorial student assist workplace web site for additional
info:

Danish students might acquire help for research overseas via the Danish students’
Grants and Loans Scheme. 

For research in overseas international locations, students are supported for four-year programs or
for the final 4 years of longer ones. Support granted for research in Denmark can
be used to finance research overseas when they’re accepted as a part of a examine program
at a Danish establishment. 

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For extra info, please go to the The Danish students’ Grants and Loans Scheme web site. 

Estonian students might apply for loans to assist finance their research at JCU. For extra
info, please go to the under web sites:

Finnish students might obtain monetary assist for research in overseas international locations from the
Finnish authorities. For extra info, please go to the Finnish Financial Aid web site: Kela. 

Honduran students have the chance to use to the: “Honduras 20/20” Scholarships
Presidential Program (Programa Presidencial de Becas “Honduras 20/20”)

Beca 20-20 is a full scholarship (tuition & housing) awarded to Honduran students,
for 4 years of examine at JCU. 

For extra info, go to the Programa Presidencial de Becas “Honduras 20/20” web site and evaluate the necessities & directions.

Icelandic students might apply for grants & loans to assist finance their research and
analysis overseas via the Icelandic Student Loan Fund. 

For extra info, please go to the the Icelandic Student Loan Fund web site or the nationwide Island web site.

Students could also be eligible to borrow the Intesa SanPaolo Finanziamento “per Merito”
Atenei Non Convenzionati via Banca Intesa SanPaolo whereas finding out at John Cabot
University. Students should be at the very least 18 years of age and have Italian residency (Italian
citizenship shouldn’t be required).

For extra info, please go to the Intesa SanPaolo web site.

Kazakh students, enrolling in a Graduate program, have the chance to use for the
Bolashak International Scholarship. The scholarship is awarded to high-performing
students from Kazakhstan who examine abroad. 

For extra info, please go to the Bolashak Program web site. 

Latvian students might apply for loans to assist finance their research at JCU.

For extra info, please go to the Swedbank and SEB web sites. 

Dutch students might obtain monetary help for full-time college research outdoors
of the Netherlands. For extra info, please go to the Studiefinanciering buitenland web site. 

Norwegian students might obtain help for full-time training at college or college
school degree outdoors Norway and the Nordic area. Support may additionally be given for
higher secondary training in distinctive circumstances.

For extra info, please go to the The Norwegian Loan Fund web site.

Swedish students might apply for examine grants and loans when finding out overseas at post-secondary
degree via the Centrala studiestödsnämnden.

For extra info, please go to the the Swedish Board of Student Finance (CSN) web site.

TUITION & FEES

The Office of Financial Aid is devoted to serving to you discover ways to finance your
training at JCU. Learn extra about our estimated price of attendance, tuition & charges, and cost choices. 

Have questions? Email [email protected]!


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