Students at John Cabot University may be eligible for student loans from the US Federal government. John Cabot University is authorized by the US Department of Education to participate in the Title IV Program.
All citizens and permanent residents of the United States who are enrolled as degree-seeking students at John Cabot University may be eligible to participate in the Stafford Loan Program. Parents may borrow through the Parent Loan for Undergraduate Students (PLUS) loan program and independent students may borrow through the Stafford Loan Programs.
Current US government legislation prohibits US citizens enrolled in colleges or universities outside the United States from receiving Pell Grants, SEOG, Perkins Loans, or Federal Work Study funds, even though they may be eligible for such assistance. Students eligible for such programs are invited to apply for the JCU Assistance Grant.
Application for Federal Student Aid (FAFSA)
If you are applying for a Title IV loan such as Stafford or PLUS, you need to complete the Free Application for Federal Student Aid (FAFSA) before any financial aid or student loans can be awarded. All students and their families seeking federal aid must complete the FAFSA and a Renewal FAFSA for each year of study.
Students applying for Fall 2012, the priority deadline to fill out your FAFSA is April 1st, 2012.
You may begin to fill out your FAFSA for the academic year 2012-2013 on January 1, 2012. The application process ends on June 1, 2012 so you must submit your FAFSA before this date.
After completing the FAFSA online, each student will receive an electronic Student Aid Report (SAR), which may be downloaded.
Please forward this SAR report to the JCU Financial Aid Office either via email to financialaid@johncabot.edu or via fax to 011 39 065 897 429. JCU does not automatically receive your SAR.
Important: The John Cabot University School Code is: G33293. JCU will not be able to automatically access your SAR if you do not list JCU on the FAFSA as a prospective school.
You may make corrections to your FAFSA after completion to include John Cabot University.
Certification of loan eligibility by the John Cabot University Financial Aid Office does not guarantee that the parent will actually be approved to obtain the loan.
John Cabot University originates the following Federal Loans:
Federal Stafford Loans
Subsidized: For students who qualify for subsidized Stafford loans, the government pays the interest on the loan(s) until the student enters repayment after graduation or withdrawal.
Unsubsidized: Students who receive an unsubsidized Stafford Loan are responsible for the interest that accrues during school, grace and deferment periods. If not paid while the student is in school, interest is capitalized (added to the loan balance) at the end of the borrower’s grace period. The interest on this loan is minimal when compared to private loans.
Stafford Loan Limits
| Dependent |
Annual loan limit (Sub $ Unsub combined) |
| Freshman |
$5,500 |
| Sophomore |
$6,500 |
| Junior or senior |
$7,500 |
| Independent |
Annual loan limit (Sub $ Unsub combined) |
| Freshman |
$9,500 |
| Sophomore |
$10,500 |
| Junior or senior |
$12,500 |
| Undergraduate dependent lifetime limit |
$31,000 |
| Undergraduate independent lifetime limit |
$57,000 |
Federal Parent PLUS Loan
Parent Loan for Undergraduate Students (PLUS) is a United States Federal loan available to parents of dependent undergraduate students to help finance their son’s or daughter’s education. Parents may borrow up to the Cost of Attendance, minus the amount of any other financial aid received. A credit check is required for the PLUS loan. Repayment for the PLUS loans begins soon after funds are disbursed.
Click here for the Parent PLUS Loan Authorization Form.
Eligibility:
Your eligibility to participate in a Federal Loan program will be automatically calculated only if you have included your Social Security Number in your application and completed a FAFSA by April 1st 2011.
The financial aid package, which will detail your loan eligibility and your institutional aid. The package will be sent to you in the first week of April.
If you have not completed your FAFSA by then, you must request a financial aid package. Packages will be issued on a rolling basis after the first week in April.
Understanding Your Financial Aid Package
Direct Lending
John Cabot University participates in the Direct Lending Program through the U.S. Department of Education. This program enables you to apply for a Stafford or PLUS loan. Click here to download the complete instructions and form packet.
Abbreviated, general instructions:
1. Complete an eMPN
2. Return the PDF of the eMPN to financialaid@johncabot.edu.
3. Complete and return a Direct Lending form.
Federal Aid Timeline Fall 2011
June 1st – Completed FAFSAs due
June 15th – Direct Loan application and paperwork due priority disbursement date
July 15th – Tuition in-full payment deadline*
August 1st – Deadline for Direct Lending applications expecting a first disbursement of September 5th
September 5th – First disbursement of Direct Loans for Fall 2011
September 15th – Deadline for Direct Loans disbursement date September 30th
September 30th – Second disbursement for Direct Loans Fall 2011
October 15th – Midterm disbursement for Direct lending (students with fall only federal loans)
*Tuition balance due not covered by Federal loans, private loans, or institutional aid.
Satisfactory Academic Progress (SAP) Policy For U.S. Federal Financial Aid
For the Undergraduate Student
To remain enrolled and receive Federal Financial Aid, all students must make satisfactory academic progress, as measured by cumulative grade point average and the ratio of credits earned vs. attempted (completion rate).
SAP assumes that the student registers for course loads within the minima/maxima during each regular academic year. Another way to express this is that students must complete their original programs within 180 credit hours. A change of program – different major, additional minor, etc. – obviously extends this limit.
John Cabot University’s Financial Aid Office reviews the Standards of Academic Progress for students receiving Federal Title IV Aid. Each student’s SAP is reviewed every semester using three components:
• Grade Point Average (GPA)
• Hours attempted versus successfully completed
• The maximum time to complete a program
Students must meet the minimum requirements in each of the three components to maintain satisfactory academic progress. Students who do not meet these standards will be withdrawn from Title IV aid.
Deadlines for Financial Aid Applications
Returning students: Loan applications must be submitted by May 15th for the Fall 2011 term and November 15th for the Spring 2012 term.
Please contact the Financial Aid Office for further information.