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The proprietor off an effective consolidated financing have to notify brand new borrower you to definitely the mortgage could have been paid in full

(2) Up on acknowledgment of proceeds away from an immediate Consolidation Loan, brand new proprietor out-of a good consolidated financing have to punctually pertain the fresh new proceeds to totally discharge the fresh new borrower’s obligation to your consolidated mortgage.

(3) The principal equilibrium out of an immediate Consolidation Loan is equal to the sum total wide variety paid down for the holders of one’s consolidated loans.

(4) In case your matter reduced by Secretary to your manager off a good consolidated mortgage is higher than the amount had a need to discharge financing, this new manager of one’s consolidated loan must promptly reimburse the excess total the brand new Assistant as credited from the a great balance of your Lead Integration Financing.

(5) Should your matter reduced because of the Assistant towards proprietor of the latest consolidated mortgage was insufficient to produce a loan, the brand new owner need alert new Assistant on paper of your left number due for the financing.

Per Merito Student Loan via Banca Intesa SanPaolo

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• Students transferring to JCU must submit all transcripts for a Transfer Credit Evaluation in order for their federal loan eligibility to be calculated.

US Federal Aid recipients who complete coursework online or in the US risk losing federal loan eligibility upon returning to JCU. This affects students who spend a term(s) at a US university or study abroad with a program hosted by a US institution or study abroad organization. This also affects students via distance programs, including online and remote learning formats.

Students are required to make satisfactory academic progress in order to continuing receiving Federal Student loans. The JCU Financial Aid Office monitors Satisfactory Academic Progress at the end of each semester. Students must meet the following minimum requirements:

• Minimum cumulative Grade Point Average (GPA)
• Hours attempted versus successfully completed
• Maximum time to complete a program

Students who do not meet these requirements may have their Federal Student Aid withdrawn. Download the complete John Cabot University SAP Policy.

Once you have graduated, withdrawn, taken a leave or absence or are no longer enrolled at least half time, you will enter a 6-month grace period on your Federal Direct Subsidized and Unsubsidized Loans, during which time you are not required to make loan payments.

You must begin repayment at the end of your grace period.