Student Borrowers

DO YOU KNOW HOW MUCH YOU HAVE BORROWED DURING YOUR TIME HERE AT LONGWOOD???????????  

If not, then would you like to find out????????????????????????????

Log into your myLongwood portal and click on *Financial Aid, * View/Accept Financial Aid, and *Loan Application History

As a student loan borrower at Longwood University, the Office of Financial Aid is interested in your financial security. The costs of an education are certainly on the minds of students and parents in these harsh economic times.  We want to be sure that you are aware of the loan indebtedness you currently have, in order to assess your total financial situation as you prepare for your next few Longwood years OR as you leave Longwood for the working world.

The information provided about the Stafford (student) loans and any Private/Alternative loans you have accumulated to date is current and listed by loan type, year and amounts. We hope this will be a useful tool in examining your own personal finances and will enable you to envision your future borrowing ability.  

You may also want to review some helpful information regarding money management such as budget creation, loan repayment, credit cards, managing debt, identity theft, and more.  Longwood has a website with this valuable information for your convenience located at http://capitalone.practicalmoneyskills.com/index.php.

 

 

New financial aid policy regarding release of student information

The staff in the Office of Financial Aid is committed to our students’ right to have their identity protected. For this purpose, we will now ask students for a picture ID, the last four digits of their Social Security Number, and their date of birth before discussing or releasing any personal financial aid information to them. We will expect anyone else who has questions regarding a student’s personal financial aid information, and is listed on the student’s release of information form, to be able to provide this same information.

 

Financial Aid Services Survey

The Office of Financial Aid strives to provide our Longwood students and their families with good information and great customer service. We ask that you please take a few minutes to complete our Office of Financial Aid Services Survey at the following link. Thank you in advance for your time. https://www2.longwood.edu/inq5/cgi-bin/qwebcorporate.cgi?idx=HJ89YU

 

New Federal Resources for Student Loan Repayment

There are major changes to the student loan interest rates and repayment terms. The Department of Education has expanded its Student Aid on the Web site for students to include the following:

A chart of FFEL and Direct Loan Interest Rates Effective July 1, 2009

An Income Based Repayment page that includes the IBR eligibility requirements, the benefits of IBR, an IBR payment calculator, and some examples of how a borrower's monthly student loan payment amount can be reduced under IBR.

 

Veterans Education Benefits Programs

There have been, and continue to be, many changes to the Veterans Education Benefits Programs. The best source of information is from the U.S. Department of Veterans Affairs http://www.gibill.va.gov/

 

Two-Year College Transfer Grant

Must have received an Associate degree at a Virginia 2-year public institution of higher education, have enrolled in a Virginia 4-year public or private higher education institution by the fall following completion of Associate degree program, EFC not greater than $8,000, at least a 3.0 GPA in Associate degree program and maintain a 3.0 in 4-year school. Students may receive $1000.00-$2000.00, depending on their major. The grant is limited to three years or 70 credit hours.

 

You can still file the FAFSA   

If you need financial assistance for the 2009-10 academic year, you need to file a 2009-10 FAFSA by March 1, 2009. You may complete and file the FAFSA electronically at www.fafsa.ed.gov.