TRANSFER OF CREDIT FROM PREVIOUS INSTITUTIONS

For purposes of the measurement of pace, credit accepted in transfer from previous colleges is counted as both units attempted and units completed. The student's GPA at FIDM is not affected by transfer units.

REESTABLISHING AID ELIGIBILITY

As described above, a student may retain their aid eligibility by meeting the terms of their academic plan. A student who has been disqualified for reasons of SAP may also regain aid eligibility if they meet the minimum standards of SAP for their program at the next period of monitoring.

Student Loan Information

If a student obtains a loan to pay for an educational program, the student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund.

Students should carefully review the promissory note for any loan which is accepted. The promissory note will give the borrower the legal requirements of the loan and deferment/cancellation provisions. Terms and conditions of federal loan programs may be found at the U.S. Department of Education's website studentaid.gov/understand-aid/types loans/subsidized-unsubsidized.

FEDERAL DIRECT STUDENT LOAN REPAYMENT

Questions regarding repayment of a Federal Direct Student Loan may be directed to financialaid@fidm. com. Loan repayment can be estimated by using the online Loan Repayment Calculator at finaid. org/calculators/loanpayments/. The actual loan payment amount is determined by the student's servicer based on the amount that the student borrows. The minimum payment for the Direct Loan program is $50 per month. Interest on unsubsidized loans not paid while in school will be added to the principle balance. It is recommended that the student's educational loan payments represent no more than 10% to 15% of their income.

FEDERAL PERKINS LOAN REPAYMENT

Questions regarding the repayment of a Federal Perkins Loan may be directed to the Perkins Loan Assistant Director, in the Perkins Loan Department at the Los Angeles campus at x4211.

A loan is not a gift — it must be repaid with interest.

FEDERAL DIRECT LOAN EXIT COUNSELING INFORMATION

Federal Loan exit counseling will:

1. Inform the student borrower of the average anticipated monthly repayment amount based on the student borrower's indebtedness or on the average indebtedness of student borrowers who have obtained Direct Subsidized Loans and Direct

Unsubsidized Loans, student borrowers who have obtained only Direct PLUS Loans, or student borrowers who have obtained Direct Subsidized, Direct Unsubsidized, and Direct PLUS Loans, depending on the types of loans the student borrower has obtained, for attendance at the same school or in the same program of study at the same school;

• (ii) Review for the student borrower of available repayment plan options, including the standard repayment, extended repayment, graduated repayment, income-contingent repayment plans, and income-based repayment plans, including a description of the different features of each plan and sample information showing the average anticipated monthly payments, and the difference in interest paid and total payments under each plan;
• (iii) Explain to the borrower the options to prepay each loan, to pay each loan on a shorter schedule, and to change repayment plans;
• (iv) Provide information on the effects of loan consolidation including, at a minimum —
  1. The effects of consolidation on total interest to be paid, fees to be paid, and length of repayment;
  2. The effects of consolidation on a borrower’s underlying loan benefits, including grace periods, loan forgiveness, cancellation, and deferment opportunities;
  3. The options of the borrower to prepay the loan and to change repayment plans; and
  4. That borrower benefit programs may vary among different lenders;
• (v) Include debt management strategies that are designed to facilitate repayment;
• (vi) Explain to the student borrower how to contact the party servicing the student borrower’s Direct Loans;
• (vii) Meet the requirements described in 34 CFR 685.304 (a)(6)(i), (a)(6)(ii), and (a)(6)(iv);
• (viii) Describe the likely consequences of default, including adverse credit reports, delinquent debt collection procedures under federal law, and litigation;
• (ix) Provide—
  1. A general description of the terms and conditions under which a borrower may obtain full or partial forgiveness or discharge of principal and interest, defer repayment of principal or interest, or be granted forbearance on a Title IV loan; and
  2. A copy, either in print or by electronic means,