Previously passed classes may only be repeated one time and continue to be included in determining enrollment status (full-time, half-time, etc). Students repeating previously passed classes may experience reduced eligibility for financial aid when those classes are excluded from calculating enrollment status. Repeated courses do affect satisfactory academic progress standards. A repeated course (along with the original attempt) is counted towards the maximum time frame and completion rate.
Direct Loan Program
150% Subsidized Loan Limit for First-time Borrowers on or after July 1, 2013:
If you are a first-time borrower on or after July 1, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. This time limit does not apply to Direct Unsubsidized Loans or Direct PLUS Loans. If this limit applies to you, you may not receive Direct Subsidized Loans for more than 150 percent of the published length of your program. This is called your “maximum eligibility period.” Your maximum eligibility period is based on the published length of your current program. You can usually find the published length of any program of study in your school’s catalog.
For example, if you are enrolled in a four-year bachelor’s degree program, the maximum period for which you can receive Direct Subsidized Loans is six years (150 percent of 4 years = 6 years). If you are enrolled in a two-year associate degree program, the maximum period for which you can receive Direct Subsidized Loans is three years (150 percent of 2 years = 3 years).
Because your maximum eligibility period is based on the length of your current program of study, your maximum eligibility period can change if you change to a program that has a different length. Also, if you receive Direct Subsidized Loans for one program and then change to another program, the Direct Subsidized Loans you received for the earlier program will generally count toward your new maximum eligibility period.
Certain types of enrollment may cause you to become responsible for the interest that accrues on your Direct Subsidized Loans when the U.S. Department of Education usually would have paid it. These enrollment patterns are described below.
Adjustments in Origination Fees for all Federal Loan Borrowers
For a Direct Subsidized or Direct Unsubsidized Loan, the loan origination fee for loans first disbursed on or after October 1, 2014 and before October 1, 2015 is 1.073% of the principal amount of the loan. For example, the loan origination fee on a principal loan amount of $5,500 would be $59.02. For loans that are first disbursed on or after October 1, 2015 and before October 1, 2016 will be 1.068%. In this case our example for a loan origination fee on a principal loan amount of $5,500 would be $58.74.
For Direct PLUS Loans for both parent and graduate student borrowers, the loan origination fee for loans first disbursed on or after October 1, 2014 and before October 1, 2015 is 4.292% of the principal amount of a loan. For example, the fee on a $10,000 Direct PLUS Loan would be $429.20. For loans that are first disbursed on or after October 1, 2015 and before October 1, 2016 will be 4.272%. In this case our example for a loan origination fee on a principal loan amount of $10,000 would be $427.20.
Fairmont State is pleased to provide this student aid calculator to assist you in estimating your costs to attend FSU. Results are based on 2018-2019 Estimated Cost of Attendance figures and student aid eligibility requirements which are subject to change. These results should assist you in determining an estimate of your out-of-pocket expense to attend Fairmont State.
July 29th-August 2nd
Monday-Thursday: 7:45 am - 4:30 pm
Friday: 7:45 am - 12:15 pm
August 5th-August 9th
Monday-Friday: 8:00 am - 4:00 pm
August 12th-August 30th
Monday-Friday: 8:00 am - 5:00 pm
September 2nd-End of Term
Monday-Thursday: 8:00 am - 4:30 pm
Friday: 8:00 am - 4:00 pm
Office of Financial Aid
Turley Student Services Center
Room 303 Phone: (800) 641-5678, Opt. 2
(304) 367-4141 Fax: (304) 367-4789 FinancialAid@FairmontState.edu
When filling out your FAFSA, use 003812 as the school code