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Federal Family Educational Loan Program
As a student borrower:
I am responsible for informing UAM and my lender of any changes in name, telephone number, social
security number or enrollment status.
I understand that when I graduate, withdraw, or drop below
half-time from UAM, I must complete an exit interview.
I must repay the loan (plus accrued interest) even if I do not graduate, or if I become dissatisfied
with the education I received.
If I am a first time borrower, I must complete an entrance
interview
before
my loan funds are disbursed.
If I am a first time borrower and a first time student, the first disbursement of my loan will be
delayed for thirty days from the first day of school.
All loans must be delivered in two
disbursements with the second disbursement arriving after
one-half of the loan period has passed.
Example:
Loan Period
(Fall Only) - 1st Disbursement-August/2nd Disbursement-October
(Spring Only) - 1st Disbursement-January/2nd Disbursement-March
Loan Period
(Fall & Spring) - 1st Disbursement-August/2nd
Disbursement-January
(Summer) - Two disbursements depending on length of enrollment
Disbursement dates printed on the Notice of Guarantee are estimated dates only.
If my chosen lender participates in electronic funds transfer, my loan proceeds will be credited to
my UAM student account. There will be no check to endorse.
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Return of Title IV -
Students who receive Title IV aid and do not complete at least
60% of the semester for which they are enrolled may be required
to return a portion of the Federal funds received. Title IV aid
includes, but is not limited to, Federal Pell Grants, Federal
Supplemental Educational Opportunity Grants (SEOG), Academic
Competitiveness Grants (ACG), National Science & Mathematics
Access to Retain Talent (SMART) Grants, Perkins Loans, and
Stafford Loans. In most cases, the withdrawal date for students
who officially withdraw will be the actual date of withdrawal as
determined by the Registrar’s Office. Students who cease
attending without officially withdrawing are considered
“unofficial withdrawals.” The midpoint of the semester (or in
some cases, the last date of attendance) will be used in
determining the amount of aid to be returned for unofficial
withdrawals.
Withdrawing from the
University, either officially or unofficially, may require that
you return a substantial amount of the Title IV funds that you
received. If you should have to withdraw at any point, contact
the Financial Aid Office.
PLEASE NOTE:
Receipt of additional
financial assistance such as scholarships, grants-in-aid, or
vocational rehabilitation grants may change eligibility for
awards that have already been processed. Federal Stafford
Loans, Federal Supplemental Educational Opportunity Grants (SEOG),
Academic Competitiveness Grants (ACG), National Science &
Mathematics Access to Retain Talent (SMART) Grants, and/or
Federal Perkins Loans may be decreased or canceled if the
student receives additional assistance. IT IS YOUR
RESPONSIBILITY TO KEEP THE FINANCIAL AID OFFICE INFORMED OF ALL
ASSISTANCE YOU WILL BE RECEIVING.
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