Important Loan Announcement - Summer 2010
Recently, the Health Care and Reconciliation Act of 2010 was signed into law. One provision of the act terminated the Federal Family Education Loan Program (FFELP) which offered loans to students/parents through private lenders, i.e. College Invest, Sallie Mae, Wells Fargo; CMC participated in this program for a number of years. Therefore, starting with the 2010-11 year CMC will be making loans to student/parents in the Federal Direct Stafford loan program.
CMC will continue to make FFELP loans for Summer 2010 however; according to the Act, no FFELP loans will be disbursed after June 30, 2010. It is important that if you and/or your parents are seeking loan money for the summer semester 2010 that you have completed all processes, including verification completing the master promissory note, and entrance interview by June 18, 2010. Students applying after that date will not be eligible for loan disbursement. If you have questions contact the financial aid specialist at your campus or Central Services Financial Aid at 800 621-8559