Binghamton University Scholarships for full-time students returning for fall 2014/spring 2015:
Deadline: Tuesday, Feb. 18, 2014, 5 p.m.
The following rates are effective for all Federal Direct loans with a first disbursement on or after December 1, 2013 and before September 30, 2014:
TEACH Grant: All awards with a first disbursement on or after October 1, 2013 and before September 30, 2014 are subject to a 7.2% across-the-board reduction. For example, if the award is $4,000 based on the award schedule, the amount will be reduced by 7.2% or $288. The new award amount will be $3,712.
Iraq-Afghanistan Service Grant: All awards with a first disbursement on or after October 1, 2013 and before September 30, 2014 will be reduced by 7.2% from the original award amount the student would otherwise have been eligible for.
Due to the Moving Ahead for Progress in the 21st Century Act (enacted July 6, 2012), a new borrower on or after July 1,2013 cannot receive subsidized loans for more than 150% of the published length of the borrower's educational program. For example, if a student is enrolled in a 4 year program, they can receive 6 years of subsidized loans, if eligible. The law also states that a borrower who becomes ineligible for subsdized loans because of the 150% limit is ineligible for interest subsidy benefits on all subsidized loans first disbursed to that borrower on or after July 1, 2013.
Due to the Consolidated Appropriations Act, 2012, the following federal programs were impacted:
A student who completes the academic requirements for a program, is not eligible for further additional federal aid funds for the program.
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Last Updated: 12/10/13