Direct Subsidized Loan and the 150% Rule
Last updated on OCTOBER 05, 2016
Applies to:PeopleSoft Enterprise CS Financial Aid - Version 9 and later
Information in this document applies to any platform.
Will functionality be delivered to support the new 150% rule for the DL Subsidized loan program? Here is a more detailed description of the change:
Public Law 112-141 also includes a new limit on eligibility for Direct Subsidized Loans fornew borrowers on or after July 1, 2013. A new borrower on or after July 1, 2013 will not be eligible for new Direct Subsidized Loans if the period during which the borrower has received such loans exceeds 150 percent of the published length of the borrower’s educational program. The law also provides that a borrower reaching the 150 percent limit becomes ineligible for interest subsidy benefits on all Direct Subsidized loans first disbursed to that borrower on or after July 1, 2013. We will provide further information on this provision of the law at a later date.
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