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We've created a page on Facebook for the UVA School of Medicine Financial Aid Office. While email remains our official mode of communication for required and important information, you can "like" us on Facebook to get occasional updates and reminders about deadlines. We'll also post reminders about upcoming events, like the "Money Talks" seminars, and links to useful resources.
Congratulations to the Class of
2012!
The powerpoint presentation for the exit interview is available to view or download here. As always, if you have questions, please feel free to contact your counselor.
Attention Graduates and Residents:
The Obama Administration recently announced two changes to student loans: a special consolidation available to students who have both FFELP (bank-owned federal loans) and Direct Loans, and a lower Income-Based Repayment payment amount for specific borrowers. SOM Classes of 2010 and 2011 should have receieved an email with specific information about the special consolidation.
Many of you may qualify for this special consolidation deal. The special consolidation will allow borrowers with both commercially-owned student loans and Department-owned student loans to move the commercially-owned loans over to the Department and have just one federal loan servicer.
Note: You will NOT lose incentives that you have already "earned" on your loans. So, for graduates with Bank of America loans with the special interest rate reduction for auto-debit, you will KEEP the lower interest rate as long as you have already signed up for auto-debit and seen your interest rate reduced on your account.
For more information about these special consolidations, please go to http://studentaid.ed.gov/PORTALSWebApp/students/english/specialconsolidation.jsp
As always, if you have any questions, please feel free to contact your counselor.
Upcoming Changes to Federal Student Loans
Students: Congress recently passed several changes to the federal student loan programs. Beginning in 2012/13, the subsidized loan will no longer be available to graduate and professional students. In addition, the net fee deducted from federal unsubsidized loans will increase to 1% (from .5%), and the net fee deducted from Graduate PLUS loans will increase to 4% (from 2.5%). For returning students, these changes were detailed in an email to you in August. If you have any questions, please contact your counselor.
The University no longer mails paper bills. Students will receive an email from Student Accounts with instructions to log in to SIS and view their tuition bill through QuikPay@UVA.
*All Federal Stafford and Federal Direct Loans disbursed AFTER July 1, 2006 will have a fixed rate of 6.8%.
*Interest rates on Stafford/Direct Student Loans disbursed prior to July 1, 2006 and not included in a Federal Loan Consolidation remain variable, capped at 8.25% and will continue to change every July 1 throughout the life of the loan.
