FINANCIAL AID NEWS
for
SPHTM Students
*New - Student Loan Changes Ahead (posted 11/02/09)
The U.S. House of Representatives passed The Student Aid and Fiscal Responsibility Act of 2009 ("SAFRA") on September 17, 2009. The legislation makes several significant changes to current federal financial aid programs, is now being considered by the Senate, and may or may not ultimately become law.
For many years Tulane has participated with lenders (banking institutions) in the Federal Family Loan Program ("FFELP") in large part due to borrower benefits offered, as opposed to the parallel “Direct” Program through which certain federal student loans are disbursed directly from the federal government without the participation of a banking institution. Recently, banking institution lenders have scaled back borrower benefits. If SAFRA is passed by Congress and signed into law by the President, FFELP would be discontinued on July 1, 2010: all federal loans would be under the Direct Program, and federal student loan borrowers would be required to complete Master Promissory Notes with the Department of Education for their Direct Program federal loans.
Tulane is preparing to participate in the Federal Direct Student Loan Program beginning with the summer 2010 semester.
Our office will advise students via our website, email, and letter regarding the necessary steps to ensure future loan funding.
· Questions & Answers on the Transition to 100 Percent Direct Lending (from the Department of Education's website)
· Direct Loan versus the FFEL Program (from FinAid.org website)
Refund Disbursement Via Direct Deposit
Direct Deposit is the fastest way to receive your financial aid living expense refund. In order to receive a Direct Deposit refund, you must go to the Accounts Receivable web site and input your bank account information into NetPay. If you have questions about this Accounts Receivable process, please call Accounts Receivable at 504-865-5368.
When you are notified that you have a credit balance in Accounts Receivable, you need to go to Accounts Receivable's web site and request a refund on their NetPay system.
View My Financial Aid Online
Students may view their financial aid information online here. Internet Explorer Version 6.0 or higher must be used to view this link.
INCOMING AND CONTINUING STUDENTS
2010-2011 Application Deadlines
The 2010-2011 financial aid process cannot begin until January 2010. You can complete your FAFSA now, and 2010-11 Addendum will be on the web site in February. Final revisions to the Addendum are currently being made.
Incoming and Continuing students, you are encouraged to have your 2010-11 FAFSA and your 2010-11 School of Public Financial Aid Addendum completed by MARCH 15, 2010.
Entrance Interview
Entrance Interview
Per federal regulations, all first time Federal Direct Subsidized/Unsubsidized Loan borrowers and all first time Federal Direct Graduate PLUS loan borrowers must complete an Entrance Interview which acknowledges the borrower's rights and responsibities under the the Federal Direct Loan program. The entrance interview requirement must be completed on line at the Department of Education web site.
Additional Entrance Interview information provided to the School of Public Health and Tropical Medicine's Class of 2011 is available in a powerpoint presentation; to see the presentation, click here.
A Comprehensive Guide to Graduate Financial Aid
(2008-09 edition)
Students interested in greater details of the financial aid process are encouraged to review this guide.
TULANE EMERGENCY WEB SITE:
http://emergency.tulane.edu/
|
