US Direct Loans

TYPES OF AID

William D. Ford Federal Direct Loan Program

William D. Ford Federal Direct Loan Program loan program allows students to borrow low-cost educational loans from the federal government. To be eligible for a Direct Loan, students must be enrolled at least half-time. Repayment of these loans begins 6 months after students leave school or fall below half-time enrollment. There are two types of William D. Ford Federal Direct Loan Program loans: subsidized and unsubsidized. For more detailed information about Federal Direct Loans, visit the U.S. Department of Education.

 

Subsidized (Undergraduates Only)

Federal Subsidized Direct Loans are need-based loans. They are subsidized, which means the federal government generally pays the interest on the loan while the student is enrolled greater than half-time, but terms do vary based upon the date the loan was borrowed.

Effective July 1, 2013, first-time (students with no outstanding federal loan balance as of July 1, 2013) Direct Loan borrowers are limited in the amount of time they can receive Direct Subsidized Loans. Borrowers may receive Direct Subsidized Loans for no more than 150% of the length of the student’s current academic program („maximum eligibility period”).

Unsubsidized

Federal Unsubsidized Direct Loans are not need-based. Interest begins accruing from the date of the first disbursement. You can choose to pay the interest quarterly while in school, or you can allow it to accumulate and be capitalized when repayment begins.

 

Interest Rates

There are a variety of interest rates for Federal Direct Loans depending on the date of disbursement, subsidized/unsubsidized, undergraduate/graduate and fixed/variable rates. The rates can range from around 3%-8%. See complete interest rate information here.

 

Origination Fees

There is approximately a 1% origination fee for Direct Loans.

 

Master Promissory Note (MPN)

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan. You are required to sign your MPN each year.

complete the MPN online here

 

Direct Loan Entrance Counseling

Direct Loan Entrance Counseling is REQUIRED for first-time Federal Direct Loan (except Parent PLUS) borrowers. This counseling session and quiz helps students understand their loan responsibilities. Entrance counseling must be completed prior to any Direct Loan (except Parent PLUS) funds being disbursed to your student account. In order to ensure funds are disbursed by the start of school, this should be completed two weeks prior to the start of the semester in which you plan on borrowing your first Federal Direct Loan at the Jagiellonian.

 

Direct Loan Exit Counseling

When you leave school, you will be required to complete Direct Loan Exit Counseling which will give you additional information regarding loan repayment.

Federal Direct Graduate PLUS Loan

Graduate students are eligible to borrow under the Federal Direct Graduate PLUS Loan program. The maximum amount that can be borrowed is the Cost of Attendance minus any other financial aid. The Federal Direct Graduate PLUS Loan is an unsubsidized loan, meaning the borrower will be charged interest from the time the loan is disbursed until it is paid in full. Repayment begins six months after falling below half-time enrollment. The interest rate is fixed at 7.21%. There are origination fees of roughly 4%.

Master Promissory Note (MPN)

Borrowers of Federal Direct Graduate PLUS loans must sign a Master Promissory Note (MPN) agreeing to pay back the loan to the federal government, with interest, according to the terms of the program. This MPN is separate from the Federal Direct Stafford loan MPN. You must complete the MPN online here.

Credit Approval

The graduate/professional student borrower must not have an adverse credit history (a credit check will be done by Direct Loans). If the student does not pass the credit check, they may still receive a loan if someone (such as a relative or friend who is able to pass the credit check) agrees to endorse the loan. The endorser promises to repay the loan if the student fails to do so. In order to endorse the loan, the endorser must complete all requirements. The student may also still receive a loan if he or she can demonstrate extenuating circumstances.

Direct Loan Entrance Counseling

Direct Loan Entrance Counseling is REQUIRED for first-time Federal Direct Loan (except Parent PLUS) borrowers.

Direct Loan Exit Counseling

When you leave school, you will be required to complete Direct Loan Exit Counseling which will give you additional information regarding loan repayment.

Veterans

 If you are a veteran, you may be eligible for educational benefits through numerous GI Bill programs. Veterans’ education benefits are not considered in determining eligibility for federal financial aid (they even took it off the FAFSA form). Once you’ve decided to use your GI Bill benefits it’s important to choose the proper type of benefit, since you may be eligible for several types of VA education and training benefits. VA’s decision-making tools will help you get the most from your benefits.

 

How do I apply for my GI Bill benefits?

  • The initial step in applying for GI Bill benefits is to submit an application for benefits online on the GI Bill Web Site.
  • Contact the VA if you have questions about the benefits available and/or your eligibility.
  • When you receive your Certificate of Eligibility from the VA, submit a copy to the FAA, who is also a Certifying Official. The Certifying Official will create a file for you and will submit an enrollment certification to the VA for each enrolled semester.

 

Policies and Procedures

R2T4 policy

Administrative Capability, SAP, Conflicting Data

General Requirements, Updating Information

Consumer Information

The Higher Education Act (HEA) of 1965, as amended, requires institutions participating in the Title IV financial aid programs to disclose specified information to all current and prospective students and employees. This site is being developed to provide these disclosures in one coherent location.

If you need assistance or paper copies of the consumer information, contact the FAA, indicating the subject of your request.  The FAA will contact the appropriate office to gather the required information and will respond in a timely fashion.

Federal Student Financial Aid Penalties for Drug Law Violations

Facilities and Services Available to Students with Disabilities

Consumer Disclosures

The Higher Education Act of 1965, as amended by the Higher Education Opportunity Act of 2008, requires institutions offering US Direct Loans to disclose the consumer information set forth below.

Please contact Ms. Magda Stępniak Telephone: (48 12) 422-80-42 ext. 18; mstepniak@cm-uj.krakow.pl  if you have any questions or concerns regarding this information.

Consumer Information

Description

Student Financial Aid Information For information regarding US government aid, please refer to Information US Direct Loans
Students with Disabilities For information about JU MC services offered to students with disabilities, please refer to JU MC Educational Support Catalog link „Catalogue of Educational Support Available at the Jagiellonian University for Undergraduate and Doctoral Students with Disabilities,” Information on Accessible Transport in Kraków, and Section 5, article 31 JU MC Student Rules.
Cost of Attendance For information regarding the cost of tuition, fees, mandatory health insurance and student housing, please refer to: 2016/17 Academic Year Fees, Dormitory Fees, Non-EU Student Health Insurance. For payment information, please refer to Timing/Method of Payment International Student Guide.
Refund Policy and Procedure For information about the University’s refund procedure, please refer to the Refund Policy.
Return of the Title IV Financial Aid For information about JU MC’c Return of Title IV Financial Aid, please refer to R2T4 Policy.
Academic Programs For information on academic programs offered at JU MC, please refer to the Course Materials, Information by Course and Curriculum Overview (MD program for University/ College Students and MD program for High School Graduates)
Transfer of Credits and Withdrawals For information on credits transfers and withdrawals, please refer to Dean’s Leave. See also Section 6, articles 27, 29, 30, 32, and 33 of the Rules of Studies.
Copyright Infringement Policies and Sanctions

For the University’s policies related to academic integrity, please refer to „Jagiellonian University Medical College („JUMC”) Policies and Sanctions regarding Copyright Infringement,„Information Technology Resources Policy for Library Users;”Acceptable Use of Information Technology Resources Policy.”

See also the Federal Student Aid Handbook for a summary of civil and criminal penalties for US copyright violations. Federal Student Aid Handbook, Copyright Penalties.

Notice of Federal Student Financial Aid Penalties for Drug Law Violations For penalties under the US Higher Education Act associated with drug-related offences, please refer to: Financial Aid Penalties for Drug Law Violations.
Health Care/ Vaccinations Requirements

For information on treatment of health conditions, please refer to: Access to Health Care in Poland

For JU MC’s required immunizations policy, please refer to: Immunization Form.

Textbook Information

For information regarding the JU MC Libraries, please refer to: Medical Library

For information on required textbooks, please refer to: Booklists

For information on other course materials, please refer to: Course Materials and Program Information. Professors will also provide information regarding textbooks and other necessary materials.

Security Report – Missing Person Students in Difficulty For information about what to do in the case of a missing student, please consult the Student Safety and Security Services website. Notify the Head of the Dean’s Office immediately if you are aware of a missing student (Vice-Head of Dean’s Office, Magdalena Stępniak, email: mstepniak@cm-uj.krakow.pl, tel. (48 12) 422-80-42 ext 18.
Privacy of Student For information to a student’s privacy rights, please refer to: „JU MC’s Student Privacy & FERPA Overview”
Fire Safety Report Please refer to: Student Residence Fire Safety Procedures and Policies, Emergency Communications System, Emergency Measures and Fire Prevention Office provides information on Fire Prevention. Other related information can be found here. JU MC Annual Fire Safety Report dated September 30, 2016, is available here.
Student Loan Information Published by the U.S. Department of Education For information from the U.S. Department of Education regarding US sponsored loan availability, including the rights and responsibilities of students and schools under its Title IV loan programs, please refer to Title IV loan programs. To calculate US loan costs and repayments, please refer to US Student Loan Information.
National Student Loan Data System (NSLDS) The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s central database for student aid. NSLDS provides comprehensive information relating to Title IV loans; from aid approval through the completion of loan repayment. JU MC reports student registration on NSLDS several times each academic year. Access is through the National Student Loan Data Service located at Access NSLDS.
Entrance Counseling for Student Loan Borrowers Entrance counseling must be completed before a student receives a US Direct Loan. For information regarding entrance counseling, please refer to JU MC website. Entrance counseling may be completed at: Entrance Counseling.
Exit Counseling for Student Loan Borrowers Exit Counseling must be completed when a student graduates, leaves school or drops below half-time enrollment. For information regarding exit counseling, please refer to JU MC website. Exit counseling may be completed at: Exit Counseling.
US Alternative Loans Students in need of additional funding may consider alternative (non-government) loans. For more information regarding alternative loans, please refer to „JU MC Private Loans.
Code of Conduct for Education Loans The US code of conduct stipulates the following: In order to prohibit a conflict of interest when it comes to private education loans, employees with responsibility for US loans are prohibited from the following: Making revenue-sharing arrangements with any lender; Receiving gifts from a lender, a guarantor, or a loan servicer; Entering into arrangements providing financial benefit from any lender of affiliate of a lender; Directing borrowers to particular lenders or refusing or delaying loan certifications; Offering funds for private loans; All agents with responsibility for US loans are reminded at least annually of the code.