Welcome to the Office of Student Financial Services website! The staff of Student Financial Services is committed to assisting you and your family in developing a financial strategy for this extraordinary investment in your future - your college education!
Fall 2013 Updates:
- Direct Loan Interest Rates: The federal student loan interest rates have changed for the 2013-14 academic year. The 2013-14 fixed interest rates for the loans are as follows, retroactive to July 1st, 2013:
- Stafford Loans (both Subsidized and Unsubsidized) for Undergraduate students: 3.86%
- Stafford Loans for Graduate and Professional students: 5.41%
- PLUS Loans: 6.41%
Note: The interest rates for federal student loans are determined by federal law. If there are future changes to federal law that affect federal student loan interest rates, we will update this page to reflect those changes. You may also find this information online at: http://studentaid.ed.gov/types/loans/interest-rates.
- Stafford Loan Origination Fees: As of March 1st, 2013, the federal sequester has gone into effect. The sequester is a series of across-the-board cuts made to multiple programs, including federal financial aid. The loan fee for Direct Subsidized Loans and Direct Unsubsidized Loans has increased to 1.051 percent for loans first disbursed on or after July 1st, 2013 and before September 30th, 2013. This loan fee increases to 1.072 percent for loans first disbursed on or after October 1st, 2013 and before September 30th, 2014. The loan fee for Direct PLUS Loans (for both parent borrowers and graduate borrowers) has increased to 4.204 percent for loans first disbursed on or after July 1st 2013 and before September 30th, 2013. This PLUS Loan fee increases to 4.288 percent for loans first disbursed on or after October 1st, 2013 and before September 30th, 2014.
- eBills: The Fall 2013 eBill will be generated and released to students by July 24th. Notification will be sent to the Purchase College email account when the eBill is ready to view. The billing due date is August 14, 2013.
- Insurance Waiver & Meal Plan Changes: Students will not be able to make changes to their meal plan or waive health insurance online until the eBill has been released. After that point, the student has until September 20, 2013 to successfully waive the health insurance or change the meal plan.