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News

Direct Subsidized Loan Time Limitation

Time Limitation of Direct Subsidized Loan Eligibility for First-Time Borrowers

There is a limit on the maximum period of time (measured in academic years) that a student can receive Direct Subsidized Loans. In general, students may not receive Direct Subsidized Loans for more than 150% of the published length of their program. For more information regarding this 150% limitation on Direct Subsidized Loans please click here.

http://ifap.ed.gov/eannouncements/attachments/051613DirectSubsidizedLoanLimit150PercentAnnounce1Attach

 

Nursing Students

The Nursing Scholarship application is now available. This scholarship is not an award by the Office of Financial Aid, but must be applied for by the individual student by visiting the Health Resources and Services Administration website

 

Apply excess financial aid to your student account

Students may opt to apply student loan proceeds to any charges on the student's account.

Student Accounts Office Federal Financial Aid Release Statement (pdf)

 

Forwarding of Emails

You can now have general emails from the Office of Financial Aid forwarded to your parents' or some other email address.

 

Student Borrowers

Do you know how much you have borrowed during your time here at Longwood?

To find out, log into your myLongwood, click on Financial Aid, then View/Accept Financial Aid, and then Loan Application History.

The information provided about the Stafford (student) loans and any Private/Alternative loans you have accumulated to date is current and listed by loan type, year and amounts.

You may also want to review some helpful information regarding money management such as budget creation, loan repayment, credit cards, managing debt, identity theft, and more.

 

New Federal Resources for Student Loan Repayment

There are major changes to the student loan interest rates and repayment terms. The Department of Education has expanded its Student Aid on the web site for students to include the following:

*A chart of FFEL and Direct Loan Interest Rates click here

*An Income Based Repayment page that includes the IBR eligibility requirements, the benefits of IBR, an IBR payment calculator, and some examples of how a borrower's monthly student loan payment amount can be reduced under IBR.

 

Veterans Education Benefits Programs

There have been, and continue to be, many changes to the Veterans Education Benefits Programs. The best source of information is from the U.S. Department of Veterans Affairs

 

Virginia's Two-Year College Transfer Grant

Transfer students may qualify for the Virginia Two-year College Transfer Grant. Click here for more details and how to apply.