It is the student’s responsibility to accept or decline all or a portion of the loan, via LOLA.
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This bill makes major changes in several federal student aid programs AND mandates that, effective July 1, 2010, all federal student loans (Direct, PLUS, and Grad PLUS) will be originated through the Federal Direct Loan Program.
You must meet all other eligibility requirements Students are automatically packaged for student loans.
Disbursing loan funds: Before disbursing loan funds, BPCC must first make sure that the student is eligible to receive them.
First-time freshmen borrowers must complete an Entrance Counseling Session.
Senate passed The Health Care and Education Affordability Reconciliation Act of 2010 ("HCEARA"-H. student borrowers will need to complete a Master Promissory Note (MPN), with the Department of Education (even if you have completed an MPN in the past with a private lender).
The Department responds electronically with an accepted or rejected record, based upon the student’s completion of other required documents (Master Promissory Note and Entrance Counseling).
A first-time borrower is required to participate in an Entrance Counseling Session that is available electronically.
An award notification will be sent via email instructing the student to view the awards via LOLA.
All students are offered the maximum loan eligibility.