THE OFFICE OF STUDENT FINANCIAL AID
"Where students come first"
N E W S!
Click here for information on filing your 2013-2014 FAFSA and the IRS DATA RETRIEVAL __________________________________________
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Financial Aid Satisfactory Academic Progress Policy (SAP). Click here to read the financial aid policy for SAP. If you are required to submit a letter of appeal, click here to learn more about the process.
Want to monitor your progress? Click here to use calculators used at the University of Maine, to check you GPA and Pace.
To apply for a student loan, you must complete the Student Loan process. You must request your loan online. Click on "Check the Status of My Financial Aid on the top right of this screen, log in and click on "Appy On Line"! First time borrowers at Brookdale must also complete Direct Loan Counseling and a Master Promissory note.
What Are the Direct Loan Interest Rates for 2013-14?
These interest rates are effective for all Direct Loans with a first disbursement on or after July 1, 2013. The interest rates are calculated using a base 10-year Treasury Note Index of 1.81% plus an add-on amount for each loan program--2.05% for Direct Subsidized Loans and Direct Unsubsidized Loans for undergraduate students, 3.60% for Direct Unsubsidized Loans for graduate/professional students, and 4.60% for parent and graduate PLUS.
Under the new interest rate structure, all Direct Loans except Direct Consolidation Loans will be “variable-fixed,” meaning students would receive a new rate with each new loan, but then that rate would be fixed for the life of the loan. There are also interest rate caps at 8.25% for Direct Subsidized Loans and Direct Unsubsidized Loans for undergraduate students, 9.50% for Direct Unsubsidized Loans for graduate/professional students; and 10.50% for parent and graduate PLUS. For Direct Consolidation Loans, the interest rate remains the weighted average of the interest rates of the loans included in the consolidation, rounded up to the next higher one-eighth of one percent, without a cap.
The Financial Aid Office at Brookdale Community College proactively leads students and their families through the entire Financing an Education process. Emphasis is placed on the electronic process of applying for financial aid, giving students and families the links to the latest financial aid web sites and providing students with the ability to check their financial aid status on line.
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