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Financial Aid
Important Financial Aid Announcement
Federal Student Loan Processing Update for 2010/2011
A new federal law requires all colleges and universities in the United States to switch from the Federal Stafford Loan Program (FFELP) to the Federal Direct Loan Program. Therefore, effective with the summer, 2010 session at Niagara University, funding for federal student loans will be obtained directly through the US Department of Education via the Federal Direct Loan program instead of a private lending institution.
Your loans will continue to be low-cost, fixed-rate and can be repaid over a period of 10 years after the student, either graduates or leaves the college. The only difference will be that instead of a private lender, you will now be borrowing directly from the Department of Education. In addition, you will be able to complete your new Entrance Interview and Master Promissory Note directly on their website.
Next Steps
- Make sure that you have applied for your federal pin number at: www.pin.ed.gov
- Complete the Free Application for Federal Student Aid (FAFSA) at: www.fafsa.ed.gov
- Complete a required Entrance Interview at: www.StudentLoans.gov
- Complete a required Master Promissory Note at: www.StudentLoans.gov
We understand that this will be a transition, but please know that the implementation of Direct Lending will provide stabilized access for all of our students and parents. Please complete these steps before July 1, 2010, so that you may continue to benefit from the Federal Student Loan Program.
Niagara University believes it offers an education which provides students with the opportunity to grow intellectually, socially, and morally. While the costs at independent colleges are higher than at state-supported schools, Niagara has attempted to control costs as much as possible while still offering a stimulating academic and social environment. Niagara has made every effort to assist students to attend by offering many types of financial aid programs. Feel free to contact us if you have any questions.
