- Additional Unsubsidized Federal Direct Stafford Loan Available
Recent legislation may enable you to borrow an additional $2,000.
- MEFA Announces Funding Secured for 08/09 Loans
The Massachusetts Educational Financing Authority (MEFA) announced on September 16, 2008 that they, “successfully raised $400 million in financing through the sale of bonds” and they will begin offering undergraduate and graduate loans immediately.
- Credit-Based Lenders that have Curtailed Operations
- Wachovia Discontinues All Private Loans; Undergraduate, Non-Degree, Graduate and Professional
Effective 10/1/08 Wachovia Bank will no longer offer any private loans for graduate and professional students. Previously, on 8/6/08, Wachovia announced that it would no longer be offering private undergraduate and non-degree loans but this most recent development means that Wachovia Bank will not be offering any private loans for higher education. Wachovia announced that they, “…will continue to process all graduate and professional private loan applications received by the close of business on 10/1/08…” and “…will continue to service applications in the decision process and, for approved applications, disbursing funds and servicing existing customers while in school and in repayment.” Boston University, having previously identified Wachovia Bank on our website for undergraduate, graduate, professional and non-degree students, has removed Wachovia from those sections of our website.
- Student’s Federal Direct Stafford Loan; How to get Funds Credited to your BU Student Account
After you have applied and been approved for a Federal Direct Stafford Loan, you must complete the master promissory note and the entrance counseling requirement. Both are completed online using your Federal PIN (personal identification number). If you completed your FAFSA online, you may have signed the FAFSA electronically using a Federal PIN. If you do not have or cannot recall your PIN, request a new (or duplicate) PIN from the Federal Student Aid PIN Web Site. Allow up to ten business days to receive your PIN.
- Parents’ Federal Direct PLUS Loan; How to get Funds Credited to the Student’s BU Account
After you have applied and been approved for a Federal Direct PLUS Loan, you must complete the master promissory note to ensure that the funds will be credited to your son or daughter’s student account. The master promissory note is completed online using your Federal PIN (personal identification number). If you completed your son/daughter’s FAFSA online, you may have signed the FAFSA electronically using a Federal PIN. If you do not have or cannot recall your PIN, request a new (or duplicate) PIN from the Federal Student Aid PIN Web Site. As the parent of the student, you will need to sign with your own parent PIN. You cannot use your son or daughter’s PIN. Allow up to ten business days to receive your PIN.
- National Student Loan Data System (NSLDS)
Access Information about Federal Financial Aid You Received.
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