Attention Students with Federal Stafford Loans taking Module classes
UNC is committed to making every attempt to keep the cost of attendance manageable for all students. However, even with this commitment to reasonable educational costs, many UNC students must take out student loans to meet their educational expenses. UNC has several loan options available. These are all interest bearing loans, which must be repaid. An educational loan is an investment in your education; it is also a tremendous financial responsibility since a loan must be repaid to the lender with interest. It is always best to borrow only what you need to meet your educational expenses.
Students who take module classes and receive federal financial aid, have new federal regulations which . Module classes are defined as any course that does not span the entire length of the full-term. If you take 5 credits as a graduate student or 6 credits as an undergraduate student, the minimum to qualify for a Federal Stafford loan, and then decide to drop a module course you are jeopardizing your loan and possibly other financial aid. Students need to complete at least 60% of their individual term to retain a full loan. For example, a student with Stafford loans signs up for Module A for three credits and Module B for three credits, both for 18 days each. The student completes Module A and then drops Module B. Since their loan was based on both modules, the days in the period for this calculation is 36 days and they successfully completed 18 days; their completion rate is why not try this out 50%.Continue reading→
