School Funding

School Funding

Federal Direct Loans

Federal Direct Loans can be obtained to qualified students signed up for a degree that is eligible on at the least a half-time foundation (six credit hours per term).

Pupils enthusiastic about trying to get a Federal Direct Loan must:

To just accept or drop your loans that are offered

1) First-time borrowers just, finish the Authorization to utilize Title IV funds by:

  • Accepting the Authorization of Title IV funds in BannerWeb. To accomplish your Authorization electronically, here follow the instructions.
  • You may also complete your Authorization by signing the Award Acceptance form that was provided with your award letter and returning it to our office if you are a Prospective Undergraduate or a Prospective Law student. It could be gone back to us via e-mail at finaid@richmond.edu, by fax at (804)484-1650, or by mail.

2) Accept or drop all or a percentage of one’s Federal Direct Loans via BannerWeb. Guidelines for doing this are obtainable right here.

3) first-time borrowers just – complete entrance counseling and signal your Master Promissory Note electronically at studentloans.gov.

So that you can make sure your loans are prepared and placed on your account because of the very first day’s class, complete the above loan demands at least six days ahead of the very very first day’s classes. If some of the above needs are finished from then on date, help will likely be prepared nonetheless it may possibly not be available by the day that is first of.

There are 2 types of Federal Direct Loans:

Direct Subsidized Loans are created to pupils whom prove eligibility for need-based school funding. Continue reading “School Funding”