University of Central Arkansas in Conway, AR
 
Welcome to the University of Central Arkansas' Loan Entrance Counseling. This is an opportunity to provide you, the student borrower, with important information regarding your rights and responsibilities as a borrower. UCA requires that first time borrowers complete a one time loan entrance counseling session prior to the disbursement of any funds. The UCA Financial Aid Office will be notified electronically once you have satisfied this requirement. In addition to the information contained in this document, you may contact the Financial Aid Office for contact information for questions regarding your loans. Contact information may also be obtained at: http://www.uca.edu/financialaid/facultystaff/
The average subsidized Stafford loan at UCA for the 08/09 academic year was $4,228. The average unsubsidized Stafford loan was $4,841. If you would like an estimate of what your monthly payments would be, you may use the Student Loan Repayment Calculator found at: http://www.slgfa.org/calculators/loan_repayment_calculator.aspx
You may also use chart below to get an idea of the monthly payment amounts needed to pay off a student loan. These charts illustrate the required $50 minimum monthly payment, an interest rate of 6.0 and the 10-year repayment period.
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Repayment Chart with 6.0% Interest Rate
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Loan Amount
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Minimum Monthly Payment
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Total Interest Paid
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Total Amount Paid
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$1,000
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$50
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$50
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$1,050
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$5,000
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$56
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$1,661
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$6,661
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$7,500
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$83
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$2,492
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$9,992
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$12,000
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$133
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$3,989
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$15,989
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$20,000
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$222
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$6,645
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$26,645
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$40,000
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$444
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$13,290
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$53,290
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Please complete all of the following steps to ensure timely receipt of Stafford loan funds.
- Log on to the UCA Self-Service page and electronically accept or decline your loans and select a lender;
- Complete your entrance counseling by clicking on the start button below;
- Complete Master Promissory Note (MPN) online through www.opennet.salliemae.com;
- Verify your enrollment hours. Students must be enrolled at least ½ time to receive Stafford, PLUS and Graduate PLUS loan funds. Please refer to the chart below for the definition of ½ time status.
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Credit Hours
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Undergraduate student enrolled in undergraduate level course credit hours. (1000 to 4000 level courses)
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Graduate student enrolled in graduate level course credit hours. (5000 to 6000 level courses)
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Full Time
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12
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9
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¾ Time
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9-11
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NA
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½ Time
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6-8
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5-8
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Less than ½
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1-5
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1-4
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Changes in your enrollment status may have serious consequences upon your financial aid eligibility. Please be sure and contact the Financial Aid Office if you anticipate changing your enrollment status.
If you decide to drop below ½ time or withdraw from UCA you are required to complete Exit Counseling. Exit Counseling may also be completed through Mapping Your Future. During Exit Counseling you will receive valuable information regarding repayment options, loan consolidation and what options you have available to you should you have difficulty repaying your loans.
Fund Disbursement
You will receive a Letter of Guarantee from the Guarantor of the loan, providing your loan amount and disbursement information. Loan funds will be disbursed in two equal disbursements, one for fall the other for spring if attending both semesters, beginning the 10th day of class each term. A summer loan will be disbursed in one single disbursement, just prior to the beginning of summer school. Once the University of Central Arkansas receives the disbursements, please allow 3 days for processing.
If you have any further questions or concerns, please contact the Financial Aid Office.
finaid@uca.edu
501-450-3140
Monday-Friday 8:00-4:30
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