FEDERAL FAMILY EDUCATION LOAN PROGRAM

FFELP

 

This program consists of both subsidized and unsubsidized FFLEP loans and PLUS loans for parents of dependent students. FFLEP loans are long-term loans made by banks, savings & loans institutions, and credit unions to help meet educational costs.

 

All loans are made in two disbursements to the student’s account during the academic year; one in Autumn and one in Spring. If a student is attending one semester only, the disbursements will be disbursed in two equal payments; one at the first of the semester and one mid-term.

 

First time borrowers and/or borrowers attending their first semester at UMH will be required to:

 

1. complete an Entrance Loan Counseling session;

 

2. and will receive their first loan disbursement 30 days after the first day of classes.

 

A one time completion of a Master Promissory Note (MPN) is required to obtain loan disbursement by students and/or parents.

 

All recipients who have obtained a FFLEP loan must complete a Loan Exit Counseling Session on campus within 30 day of graduation and/or withdrawal from the school.

 

For more information contact:

 

Trudi Paaso, Financial Aid Specialist

1-406-444-7043

paasot@umh.umt.edu