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FINANCIAL AID INFORMATION continued ... student failed to maintain satisfactory academic progress. Please refer to the satisfactory progress description found in the academic policies of this catalog. Students dismissed from school for other than failure to maintain satisfactory academic progress will not be eligible to receive any subsequent scheduled awards and will be required to complete the school process for re -admission. An exit interview will be required with the Financial Aid Director upon dismissal. Exit interviews are required of all loan recipients who have graduated, dropped or been dismissed. During the exit interview loan recipients will be given a repayment schedule and disclosure form, which summarizes the total amount borrowed, the total amount of interest and the interest rate as outlined on the borrower's interim or in -school promissory note. The repayment schedule will also fix the first date, in addition to the number of monthly payments, required to pay the loan plus interest. During the exit interview, the Financial Aid Director will also review the borrower's rights and responsibilities and provide a copy for future reference. The borrower must sign all documents if the borrower does not wish to invalidate any conditions allowed for the repayment of the loan. All loan recipients will receive payment books through the mail prior to the first payment due date of the loan. All loan recipients are required to notify the Financial Aid Director or business office regarding any change of address to ensure all communications regarding the repayment of the loan are received on a timely basis and for the protection of the borrower's rights, since the school has specific United States Department of Education reporting requirements on individual loans made with Federal funds or guarantees of interest payments on an individual basis. Federal Family Education Loan Programs: If you need to borrow to help pay for college, there are Federal Stafford loans (unsubsidized and subsidized) for students, and Federal PLUS loans for parents. The amount you can borrow varies by the type of loan and your enrollment status. 1. Subsidized: are need -based. The federal government does not charge interest while you're in school. Six months after graduating, leaving school or dropping below half-time status, you must begin repaying your loan. 2. Unsubsidized: are for qualified students, regardless of income. While you don't have to show financial need, you do have to meet all the other requirements for the subsidized Stafford loan. Interest payments also begin immediately but may be deferred. Payments on the principal start six months after you are no longer enrolled at least half time. 3. Federal PLUS (Parent) Loan: are for parents with a good credit history to help pay for their dependent's college costs. Interest begins to accrue when the first funds are released. Repayment begins within 60 days after the last disbursement for the school year. To apply, your parents must complete the PLUS loan application Promissory Note. Loans: Students obtaining a loan to pay for an education program will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund. If the student has received federal student financial aid funds, the student is entitled to a refund of the money's not paid from federal student financial aid program funds. Published January 1, 2020Y Effective through December 31, 2020 All Rights lleserved, 0 Visit us -at www.lintschoo-Ledij 30