There is a new provision that limits a first-time borrower’s eligibility for Direct Subsidized Loans to a period not to exceed 150 percent of the length of the borrower’s educational program (“the 150% limit”).
The 150 Percent Direct Subsidized Loan Limit provision uses a calculation that includes the borrower’s “Maximum Eligibility Period”.
*A borrower’s Maximum Eligibility Period is a period of time that is equal to 150% of the published length of the student’s academic program.
Example
Program Length | Maximum Subsidized Loan Eligibility Period |
|
2-Year Associates | X 1.5 | 3.00 Years (Based on Full-Time Enrollment) |
1-Year Certificate | X 1.5 | 1.50 Years (Based on Full-Time Enrollment) |
1-Semester Certificate Program | X 1.5 | 1 Semester (Based on Full-Time Enrollment) |
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