student loan repayment manual table of contents - Tufts University

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Tufts University - Student Financial ServicesDowling Hall419 Boston Ave.Medford, MA 02155Phone: 617/627-4605FAX: 617/627-3987EMAIL: Studentloans@ase.tufts.edu22For Tufts Loan Deferment Forms: http://finaid.tufts.eduFor all deferment form requests, change of address information* and general billing questions, you shouldcontact:University Accounting Services LLC (UAS)P.O. Box 932Brookfield, WI 53008-09321-800-999-6227https://www.uaservice.com/All Tufts Loan, HPSL, LDS or Perkins Loan payments should be directed to:University Accounting Services, Inc.P.O. Box 5291Carol Stream, IL 60197-5291To change your address, phone number or name you may contact any of the addresses above. Notethat updating your contact information with the Student Affairs Office or the Alumni Relations OfficeWILL NOT update the Student Loan Office or University Accounting Services. YOU MUST CONTACTTHE LATTER SEPARATELY!!
23FFELP and William D. Ford Federal Direct Loan Program TermsThe following information pertains to the following loan programs:Federal Stafford Loan (Subsidized and Unsubsidized)Federal Grad PLUS LoanFederal Direct Loan (Subsidized and Unsubsidized)Federal Direct Grad PLUS LoanNote that there are slight differences between the FFELP Stafford/Grad PLUS and Federal DirectLoan/Grad PLUS Loan programs.Loan ProgramFFELP StaffordLoan/Direct Loan(Subsidized)Maximum AnnualLoan AmountMaximum AggregateLimitInterest Rate$8,500 $65,500 0% ( During in-school,grace, defermentperiods)6 monthsGrace Period6.8% Fixed (DuringRepayment)FFELP Stafford $40,500 minus annual $224,000** 6.8% Fixed (During inschool,Loan/Direct Loan Subsidized Amount*grace,(Unsubsidized)deferment andrepayment)FFELP Grad PLUS None None 8.5% Fixed (During inschool,grace,deferment andrepayment)Direct Grad PLUS None None 7.9% Fixed (During inschool,grace,deferment andrepayment)6 monthsNone but 6-month“post-enrollmentdeferment allowed”***None but 6-month“post-enrollmentdeferment allowed”**** Post-graduate students maximum annual limit is equal to $20,500 minus annual subsidized loan amount. First-time healthprofessions students’ annual Stafford/Direct Loan amount can be prorated to a maximum $47,167 based on the length of thestudent’s academic year. Proration does not apply to post-graduate students since they are not considered first-time healthprofessions students.** The maximum aggregate Stafford/Direct Loan limit for post-graduate students is $138,500 ($65,500 subsidized aggregatelimit). This aggregate limit excludes the amount the student was eligible to borrow as a first-time health professions studentduring their DMD program.***Applies to Grad PLUS/Direct Grad PLUS loans borrowed on or after 7/1/2008Repayment Schedule Options (For more specific information on repayment schedule options, refer topage 14.)FFELP and Federal Direct Loans offer the following repayment plan options:Standard (10 Years; fixed payments of principal and interest)Income-Sensitive (10 Years, payments based on income so they may fluctuate; only available onFFELP Loans)
Page 1: 2012STUDENT LOAN REPAYMENT MANUALTA
Page 4 and 5: STUDENT LOAN EXIT COUNSELING SESSIO
Page 6 and 7: Financial Aid Exit Counseling Forma
Page 8 and 9: 4) We realize that parts of the gro
Page 10 and 11: DEFINITIONS AND TERMINOLOGY10Oftent
Page 12 and 13: Loans may accrue and capitalize int
Page 14 and 15: seek an Economic Hardship Deferment
Page 16 and 17: considered taxable income during th
Page 18 and 19: Borrower Benefits/Interest Rate Red
Page 20 and 21: Student Loan Lending Relationships2
Page 24 and 25: Income-Contingent (25 years; paymen
Page 26 and 27: Federal Perkins Loan26Loan Amount:I
Page 28 and 29: University Loans (Tufts Loan Progra
Page 30 and 31: Federal Health Professions Loan Pro
Page 32 and 33: Private education loans can’t be
Page 34 and 35: Federal Consolidation Loan Interest
Page 36 and 37: 36half-time. The same is true for s
Page 38 and 39: Planning a Student Loan Repayment S
Page 40 and 41: Helpful Hints for Loan Deferment Pr
Page 42 and 43: Tufts University’s Loan Repayment
Page 60 and 61: LOAN FACTOR TABLE60The Interest Con

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