Scholarships and Financial Aid

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FINANCIAL AID FOR SUMMER ATTENDANCE

If you plan to enroll in on-campus CMU courses this summer and wish to receive financial aid to assist with these expenses you must complete a CMU Summer Financial Aid Application or a Summer Study Abroad Application. Additional information regarding SUMMER can be found here.

NET PRICE CALCULATOR

Based on the information you provide, this calculator will estimate your total out of pocket expenses as well as provide you with resources to help finance your education. For the calculator - Click Here

Free Application for Federal Student Aid 2014-2015

It's time for new and returning students to complete the 2014-2015 Free Application for Federal Student Aid (FAFSA).    Parents and students may wish to review the Seven Easy Steps to Completing the FAFSA at  http://www.finaid.ucsb.edu/fafsasimplification/

DECEMBER 1, 2013

Beginning December 1st, loan origination fees will increase for federal loans due to sequestration. This change impacts new loans that are first disbursed after December 1st. The origination fee for Direct Subsidized and Unsubsidized loans will increase from 1.051% to 1.072%. The origination fee for PLUS Loans will increase from 4.204% to 4.288%.

ACTIVATING STUDENT LOANS

How to activate a Student Loan - A video tutorial may be found by clicking on the following link: http://podcast.cmich.edu:8171/2012-07-02/Loan+Activation+Vid.m4v 

Federal Subsidized Loan Borrowing Limit 

 As of July 1, 2013, a first-time federal subsidized student loan borrower is no longer eligible for the subsidized student loan program if he or she exceeds 150% of the published length necessary to graduate within an undergraduate degree program.

In addition, a borrower reaching the 150% limit becomes ineligible for the interest subsidy benefits on all federal subsidized loans disbursed to the borrower on or after July 1, 2013.

Congress wants to encourage students to obtain undergraduate degrees within a reasonable time frame. Students who change majors multiple times, drop classes excessively, or retake classes excessively are most likely to be affected by Public Law 121-141.

Congress no longer wants to provide interest rate deferments for students taking an exceptional amount of time to obtain an undergraduate degree. The interest rate expense is now passed to the student in such cases.  Additional information about Public Law 121-141 can be found http://ifap.ed.gov/eannouncements/attachments/051613DirectSubsidizedLoanLimit150PercentAnnounce1Attach.pdf


Office of Scholarships and Financial Aid

Toll Free     888-392-0007

Fax               989-774-3634

Email           cmuosfa@cmich.edu

 

 


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CENTRAL MICHIGAN UNIVERSITY

1200 S. Franklin St • Mount Pleasant, Mich. 48859
Phone: 989-774-4000

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