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include the units for the original grade. If a student repeats a class for which they received a grade of “C-” or better, SAP will be monitored normally as if the class was not a repeat. However, a student who repeats a class for which they received a passing grade (“D-” or better) may only receive federal finan-cial aid for one repeat of that class.

CHANGES OF MAJOR

FEDERAL PERKINS LOAN REPAYMENT

A change of major within a program (for example, a student in a two-year AA program changes major from Fashion Design to Product Development) will often result in an increase in the length of time required for completion of the program. In those situations, FIDM will recalculate the unit completion requirements for the new length of time. The student will be held to that new unit completion requirement, as well as the existing Pace and GPA requirements.

TRANSFER OF CREDIT FROM PREVIOUS INSTITUTIONS

FEDERAL DIRECT LOAN EXIT COUNSELING INFORMATION Federal Loan exit counseling will:

• (i) Inform the student borrower of the average

  anticipated monthly repayment amount based on

  the student borrower’s indebtedness or on the

  For purposes of the measurement of pace, cred-it 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. For purposes of the measurement of unit completion, credit accepted in transfer from previous colleges is counted as successfully completed 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 https://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 https://finaid. org/calculators/loanpayments/. The actual loan pay-ment 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 educa-tional loan payments represent no more than 10% to 15% of their income.

  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.

  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 —

  (A) The effects of consolidation on total interest

  to be paid, fees to be paid, and length of repay-

  ment;

  (B) The effects of consolidation on a borrower’s

  underlying loan benefits, including grace periods,

  loan forgiveness, cancellation, and deferment

  opportunities;

  (C) The options of the borrower to prepay the loan

  and to change repayment plans; and

  (D) That borrower benefit programs may vary

  among different lenders;