| Loan Maintenance and Additional Resources |
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| Interest Rates - Federal Stafford, Federal PLUS, Federal SLS, and Federal Consolidation Interest Rate Calculations. |
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Rehabilitation of a Defaulted Loan - Under the loan rehabilitation
program you and your loan holder agree on a reasonable and affordable payment plan for nine
(9) consecutive payments. Rehabilitating your loan will remove the default status.
For more information regarding rehabilitating your defaulted loans, please contact:
Regina.Mchardy@fldoe.org.
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Reinstatement of Eligibility
- If a borrower makes satisfactory payment arrangements on a defaulted
student loan(s) and makes six (6) (on-time, reasonable, and affordable
consecutive voluntary payments), the borrower may regain eligibility for
student financial aid funds. For more information regarding reinstatement
of eligibility, please contact:
Sharon.Kalicki@fldoe.org or utilize the
Reinstatement of Eligibility link. |
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| Repurchase - A lender may repurchase a borrower's loan(s), removing
the default status if a loan was inadvertently placed in default due to circumstances such
as: error in posting borrower payments to account, information obtained demonstrating borrower
should not be delinquent or in default status, student still in school, delay in processing
deferment, or other reasons determined by guarantor. For more information regarding
repurchase, please contact:
Amy.Carr@fldoe.org.
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Return of Title IV Funds
- is a federally mandated process by which a school calculates the amount of federal funds to be returned for a Title
IV aid recipient who withdraws or who ceases attendance during a payment period or period of enrollment. For
training, please contact our Training Unit at Barbara.Dombrowski@fldoe.org
or by completing the on-line training by accessing "The Return of Title IV Funds" links
Credit Hour or
Clock Hour.
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School Reporting
- A school's responsibilities for managing and reporting on the use of federal funds and for maintaining records.
For training, please contact our Training Unit at Barbara.Dombrowski@fldoe.org>
or by completing the on-line training by accessing the School Reporting link.
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Transcript Hold
- Florida Statute 1009.95, requirement of
all Florida Schools to abide to the following: No borrower who has been determined to be in default in making
legally required scholarship loan, student loan, or guaranteed loan repayments shall be furnished with his or her
academic transcripts or other student records until such time as the loan is paid in full or the default status has
been removed.
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