Peak Season for Financial Aid Processing Has Arrived
It is our service and pleasure to help you navigate the financial aid process. However, due to an increased volume in financial aid inquiries via telephone, there will be a delay in returning phone calls. For the fastest response, we ask that students and parents contact us via email, firstname.lastname@example.org. Please make sure to always include your student ID number when sending information to our office.
The 2019-2020 Academic Year Will Begin Soon!!
We are excited for the start of a new academic year and we hope that you are as well. Due to recent changes in our student financial policy requirements, the Talladega College Office of Financial Aid has increased its efforts to notify students and parents concerning their financial aid status and ways to help resolve pending issues and make the registration process for the 2019-2020 academic year a success. If you have received an email from our office concerning your financial aid, this indicates that we still have documents outstanding for your financial aid profile. We ask that you review the email and the requested information listed, then submit the requested information to our office prior to the stated deadline. Due to federal regulations set forth by the Department of Education, in conjunction with new policies implemented by Talladega College, all financial aid requirements will need to be cleared prior to the student completing their registration process.
Student/Parent Loans: What are they and do I need them?
The Department of Education offers students and parents federal loan options to help them cover the costs of educational expenses. Because these funds are being offered through the Department of Education, borrowers can benefit from lower interest rates and better repayment options. For students, the Direct Subsidized Loan (Subsidized Loan) and the Direct Unsubsidized Loan (Unsubsidized Loan) are loans offered to undergraduate students who meet the federal qualification for each loan. Loan amounts for each category vary based on factors such as dependency status, academic classification level, etc. These loans are listed on the qualifying student's award letter and must have a Master Promissory Note (MPN) and Loan Entrance Counseling (LEC) completed prior to the disbursement of these loans to the student's business account. Students are reminded that these are loans and must be repaid beginning 6 months after graduation, or 6 months after ceasing to attend school. The MPN and LEC can both be completed by visiting www.studentloans.gov.
The Parent Loan for Undergraduate Students (PLUS) is offered to the parents of Dependent, undergraduate students to help pay for educational expenses that are not covered by other financial resources and cannot be paid out of pocket. The maximum amount of PLUS funds that can be disbursed to a student's business account is listed on their financial aid Award Letter provided by our office. The parent must apply for the PLUS, be approved, and complete a PLUS Master Promissory Note (PLUS MPN) before the funds listed on the on the Award Letter can be disbursed to the student's account. The parent does have the option to adjust the amount of funds listed and can have the credit balance (after direct institutional charges have been deducted) go to them, or to the student. If the parent is denied for the PLUS, the student will then have an option to increase their Unsubsidized Loans. The parent can complete an application for the PLUS by visiting www.studentloans.gov.
We strongly advise all Dependent students and their parents to review the financial aid options listed on the Award Letter and compare them to the Direct Costs, along with other financial resources and out of pocket costs, to determine the needed for each of these types of loans.