Entrance and Exit Interviews
Students receiving financial aid (Direct Loans) while enrolled as an adult on either a full or part-time basis must participate in an entrance session and complete and sign all necessary documents before receiving disbursement(s). The student must also complete an exit session prior to graduation or termination of enrollment. The website for these sessions is:
http://www.studentloans.gov
Direct Subsidized Student Loan - Must be repaid. Loan limits vary according to enrollment status. The interest will not accrue during in-school period.
•Maximum - $3500 if enrolled full time or $1750 if enrolled part time for the academic year
****Amounts may vary and are subject to change
Direct Unsubsidized Student Loan - Must be repaid. These loans are for independent students only. Loan limits vary according to enrollment status. Interest will accrue during in-school period.
•Maximum - $6000 if enrolled full time or $3000 if enrolled part time for the academic year
****Amounts may vary and are subject to change
Both the Stafford subsidized and unsubsidized loan begins repayment 6 months after graduation or withdrawal from a program. Interest rates currently have a fixed 6.0% cap. Applications are available in the Financial Aid Office.
If a student requests in Stafford loans, more than $3000 over tuition and fee costs for the program, additional documentation is required to justify borrowing this amount.
FTC is allowed to request further paperwork according to the regulation as stated in the Unified Student Loan Common Manual under section 6.15.E. To comply with this regulation you must write a letter to explain your situation and what the extra money will be used for. Verification of all income, receipts for mortgage/rent, utilities, automobile loans, and other major household expenditures may be required.
Missouri Parent Loans for Dependent Students (PLUS) - Parents of dependent undergraduate students may obtain guaranteed loans. MPLUS loans may not exceed the student's cost of attendance minus any financial assistance the student has been or will be awarded during the period of enrollment. Repayment begins 60 days after the second disbursement. Interest rates for a new borrower are variable with an 8.5% cap. Applicants should contact the Financial Aid Office.
Home
