How much scholarship money is SMC awarding this year?
Approximately $14 billion went to the Office of Postsecondary Education as HEERF. SMC’s scholarship total is projected to rise from $880,000 for 2020-2021 to almost $1.2 million for 2021-2022.
Is Sallie Mae Smart Option loan A federal loan?
Is Sallie Mae a federal loan? No. The Sallie Mae Smart Option Student Loan for undergraduates is a private loan. You won’t receive federal loan protections, such as income-driven repayment or student loan forgiveness.
Is Stafford Loan a federal loan?
Stafford loans are a type of federal student loan that are either subsidized – the government pays the interest while you’re in school – or unsubsidized – you pay all the interest. Subsidized and unsubsidized Stafford loans require the completion of the Free Application for Federal Student Aid (FAFSA) .
What is Master Promissory Note?
The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). The school will tell you which loans, if any, you are eligible to receive.
Does SMC offer financial aid?
Welcome to Financial Aid & Scholarships. SMC will award over $75 million in financial aid and scholarships to help you achieve your goals. We offer a variety of financial aid and scholarships to help you reach your goals.
Is Sallie Mae owned by the government?
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking….Sallie Mae.
| Trade name | Sallie Mae |
|---|---|
| Type | Public company Corporation formerly Government-sponsored enterprise |
| Traded as | Nasdaq: SLM S&P 400 Component |
Can AES loans be forgiven?
Can AES student loans be forgiven? The private student loans AES services are not eligible for loan forgiveness. But the federal student loans it servicers can be forgiven under different programs offered by the Department of Education.
How long does it take for MPN to process?
The Master Promissory Note and the Direct Loan Entrance Counseling must be complete before UNM will disburse any loan funds to you. Once you complete the MPN and Counseling online, UNM will receive confirmation electronically within 3-5 days.
Do I need to complete a master promissory note every year?
Question: Will I need to complete a Master Promissory Note (MPN) every year? Answer: In most cases, for Subsidized and Unsubsidized Loans, once you’ve submitted the MPN and it’s been accepted, you won’t have to fill out a new MPN for future loans you receive.