guide to federal direct student loans, 2012-2013 - Sciences Po

You are not required to apply for a PLUS loan prior to the start of the academic year and maydo so after re-evaluating your financial need as the year progresses.More information about the PLUS Loan (including applying, terms and conditions) can befound at www.studentloans.gov). Please note that those wishing to borrow PLUS Loans mustcomplete Entrance Counseling (ELC) and Master Promissory Note (MPN) designedspecifically for the PLUS Loan.WHAT IS MY COST OF ATTENDANCE?Cost of attendance is calculated to include tuition and fees, transportation (air and local),housing (rent and utilities), food, health care expenses, academic-related expenses (books andother required text purchases), technological expenditures, and incidental costs.A cost of attendance figure is made available below in dollars using the Internal RevenueService’s (IRS) Annual Average exchange rate for 2011. This rate can be on the IRS website.Cost of attendance estimates for 2012-2013 are as follows:• Master of Public Administration (MPA): $56,559• All other Master programs: $41,885WHAT HAPPENS NEXT?• You will receive an FDLP award letter from Sciences Po listing tentative approved loanamounts.• Loan funds for each of the two semesters (Fall, Spring) are subject to an internationalprocessing delay before release to student accounts. More information about processing timescan be found under the heading “Important Loan Dates.”• No loan funds will be disbursed to your account until your enrollment indicates you areeligible. Students must have fully completed their administrative registration and be regularlyattending ALL classes. Their funds will be deposited directly in their personal bank account inearly October (Fall) and again in late February (Spring).• Loan funds must be first applied to tuition. Loans may not be used to pay debt accumulatedin a past academic year.• Loan funds are first received by Sciences Po in U.S. dollars from the U.S. Department ofEducation. They are then disbursed into the student’s French bank account in euros. Noexceptions are made. The conversion is calculated based on the day’s exchange rate. Studentsincur no charges for the currency conversion.WHAT ARE MY RESPONSIBILITIES?YOU MUST:• Have and maintain regular student status as well as a passing average each semester.• Attend ALL of your classes for the entire semester.• Regularly consult your Sciences Po email account, which is where ALL correspondencerelating to federal loans will be sent. Failure to meet important deadlines due to non-3