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<p class="MsoNormal">Some of you may recall my emails in the past addressing issues that ‘rumor has it’ or ‘they’ said. And since we are entering a new 17-18 year and I have heard some interesting things I am starting again the “Rumor Has It Series”. This came
up very recently. <o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:10.0pt">Rumor has it that there is a ‘waiver’ form a parent can complete so their student can receive additional student loans. The parent waives the parent loan requirement. <o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:10.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal">This is certainly not true. <o:p></o:p></p>
<p class="MsoNormal">There is no ‘waiver’ form for the parent to complete and have their student receive additional student loans.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">What is true:<o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo1"><![if !supportLists]><span style="mso-list:Ignore">1.<span style="font:7.0pt "Times New Roman"">
</span></span><![endif]>The parent must 1<sup>st</sup> accept <u>and</u> apply for the Parent PLUS loan. This is required by federal program.
<o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo1"><![if !supportLists]><span style="mso-list:Ignore">2.<span style="font:7.0pt "Times New Roman"">
</span></span><![endif]><b>IF</b> the parent borrower is denied the Parent PLUS loan
<b>AND</b> <o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo1"><![if !supportLists]><span style="mso-list:Ignore">3.<span style="font:7.0pt "Times New Roman"">
</span></span><![endif]><b>IF</b> the parent borrower does not pursue an appeal <b>
NOR</b> a cosigner/endorser <b>THEN</b><o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo1"><![if !supportLists]><span style="mso-list:Ignore">4.<span style="font:7.0pt "Times New Roman"">
</span></span><![endif]>Our office manually updates the student’s financial aid record indicating the Parent PLUS is Denied
<o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo1"><![if !supportLists]><span style="mso-list:Ignore">5.<span style="font:7.0pt "Times New Roman"">
</span></span><![endif]>The student’s unsubsidized loan can then be increased. <o:p>
</o:p></p>
<p class="MsoListParagraph" style="margin-left:1.0in;text-indent:-.25in;mso-list:l0 level2 lfo1">
<![if !supportLists]><span style="mso-list:Ignore">a.<span style="font:7.0pt "Times New Roman"">
</span></span><![endif]>The increase will be for no more than $4,000 for the academic year or no more than the cost of education
<u>whichever is less</u>. <o:p></o:p></p>
<p class="MsoNormal"><br>
There you have it. Have a nice day!<span style="font-size:9.0pt"><o:p></o:p></span></p>
<p class="MsoNormal">A friendly reminder from the Office of Financial Aid & Scholarships
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Maria del C. Perez-Ramos, Director
<br>
</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Financial Aid and Scholarships<br>
</span><a href="mailto:Maria.ramos@tamuc.edu" target="_blank"><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:blue">Maria.ramos@tamuc.edu</span></a><u><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:blue"><br>
</span></u><span style="font-size:10.5pt"><br>
</span><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">Mail: P.O. Box 3011 | Commerce, TX 75429<br>
Ship: 2600 South Neal Street | Commerce, TX 75428<br>
Tel: </span><a href="tel:903.886.5091" target="_blank"><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:blue">903.886.5091</span></a><span style="font-size:9.0pt;font-family:"Arial","sans-serif""> | Fax: </span><a href="tel:903.886.5098" target="_blank"><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:blue">903.886.5098</span></a><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">
| </span><a href="http://www.tamuc.edu" target="_blank"><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:blue">www.tamuc.edu</span></a><u><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:blue"> <</span></u><a href="http://www.tamuc.edu/" target="_blank"><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:blue">http://www.tamuc.edu/</span></a><u><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:blue">>
<br>
</span></u><a href="http://www.tamuc.edu/financialaid" target="_blank"><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:blue">http://www.tamuc.edu/financialaid</span></a><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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