Victory University 2012-2013 Academic Catalog

answers to some questions on the Free Application for Federal Student Aid (FAFSA) by
transferring data from their federal income tax returns.
Applicants must have a valid Social Security Number and FAFSA PIN to use the IRS
Data Retrieval Tool. The applicant will need to authenticate himself or herself to the
IRS in order to use the IRS Data Retrieval Tool. Students and parents must use the tool
separately for their respective income tax returns.
Exit Interviews
Effective July 1, 2012, the Victory Office of Student Financial Aid will require all
Federal Direct Loan recipients complete an exit interview at graduation, withdrawal,
of if enrollment drops below half-time. The exit counseling session may be completed
online via http://www.studentloans.gov or access it directly at
http://www.nslds.ed.gov/nslds_SA/.
U.S. DEPARTMENT OF EDUCATION’S TREATMENT OF TITLE IV FUNDS
Title IV (TIV) Financial Aid includes:
• Federal Pell Grant
• Federal SEOG Grant
• Federal Direct Loans
• TEACH Grants
• TSAC Grants
DIRECT AND PLUS LOAN FACTS
Direct Loan
• A low cost loan with favorable repayment options
• No payments are required while the student is in school at least half-time
• Standard repayment term is up to 10 years
• Repayment begins six months after the student graduates, leaves school, or falls below
half-time status
• The student must repay this loan
Parent PLUS Loan Facts
• For parents of dependent undergraduate students. Approval is based on creditworthiness,
not income or financial need.
• Borrow up to the cost of education less financial aid
• No aggregate borrowing limit
• Repayment term is up to 10 years
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