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May 2006 EOP Newsletter
- From The Director
- Preparing for end of semester
- Financial Aid Report
- Career Corner
- Peer tutoring
- Student Spotlight
- Shout outs
- EOP family celebrating success!
Financial Aid Report
Hey graduating seniors, your financial aid chores aren’t done yet!
Congratulations on finishing up this phase of your education. There are two very important financial matters that you will want to check on before leaving Brockport.
- Make sure you complete an exit interview with the financial aid office if you have taken out any federal student loans while attending SUNY Brockport. This is a federal requirement of all students separating from the college.
- Please make sure that you have a zero balance with the Bursar’s Office. You want to graduate with a clean slate. As you know, you are obligated to pay back any outstanding student loans you may have. Once you leave school your one time six-month grace period starts for Federal Stafford loans and your nine-month grace period for Federal Perkins and Nursing loans. For your federal loans you have an option called consolidation. Basically, you can combine all of your federal loans into one loan. Your interest rate would become a fixed rate, based on the amounts and current interest rates of the loan selected for consolidation. To complete the consolidation application go to www.loanconsolidation.ed.gov or call 1-800-848-0979. There are no processing fees or penalties for prepayment. You will want to consolidate your loans before May 12 th in order to keep your six-month grace period and also to receive the lowest possible interest rate. If you have questions, consult with the Direct Loan Service or the financial aid office.
If you fail to repay your loans in a timely manner your account will become delinquent. If you continue to be delinquent you may go into default on your loans. You want to make sure not to default on your student loans. If you default you will be ineligible for further student loans and it will have severe repercussions on your personal credit history. Always work with your loan servicer if you get into financial trouble.
