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Office of Financial Aid

Office of Financial Aid home page
Week of January 17, 2005

Federal Loan Consolidation

In the coming months, we expect that students will be hearing a lot about federal loan consolidation. In fact, many of you have probably been contacted by consolidation lenders urging you to consolidate before interest rates are raised.
Please be aware that the interest rate on Federal Stafford Loans, which is variable, can only be changed by the federal government once a year on July 1. Therefore, we urge you not to rush into loan consolidation before knowing all of the facts. Do not be deceived by some lenders who will try to convince that you must consolidate right now.
That being said, we do expect the interest rate that will be set on July 1 to be higher than the current in-school rate of 2.77%. We encourage students who are graduating this spring to attend one of the loan exit counseling sessions listed below. A great deal of time in the session will be spent on the topic of loan consolidation.
Some students who are not graduating may be eligible for an in-school consolidation. If you are unsure whether you are eligible, please contact our office at or You are also welcome to attend the loan exit counseling sessions even if you are not graduating in Winter 2004 or Spring 2005.

Loan Exit Counseling for Winter & Spring Graduates

If you borrowed Federal Stafford Loans and you plan to graduate in Winter or Spring 2005, you are required to complete Loan Exit Counseling. The counseling session will provide you with information regarding loan repayment and federal loan consolidation. The Office of Financial Aid be hosting the following Loan Exit Counseling sessions:

Tuesday, April 5th

12:00 to 2:00pm
5:30 to 7:00pm

Wednesday, April 6th

2:45 to 5:00pm
6:00 to 7:30pm
Please RSVP to the Office of Financial Aid at

2005-2006 FAFSA Priority Deadline

In order to qualify for federal financial aid for 2005-2006, you must complete a Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA for 2005-2006. In order to complete the 2005-2006 FAFSA you will need to provide 2004 income and tax information, so we recommend that you complete your 2004 tax returns before filing your FAFSA.
You can complete your FAFSA or Renewal FAFSA online at

Priority Deadline: April 15, 2005*

*Please keep in mind that the Perkins loan is awarded on a first-come first-serve basis, so we encourage students to file before March 1, 2005 in order to be elgible for the Perkins loan.


Refund checks are generated by the Bursar's Office and are available to be picked up at their office (Room 290) approximately 5-7 business days after a credit has resulted in a student's account. At this point in the term, most financial aid funds have been credited to students' accounts.
The Bursar's Office will send the student an email when a refund check is available.

2004-2005 Disbursement Schedule for Law School

Spring Disbursement: January 10, 2005

2004-2005 Disbursement Schedule for Stuart School

Winter Disbursement: January 3, 2005
Spring Disbursement: March 28, 2005

Office Hours - Suite #230

Monday-Thursday ~ 8:30 a.m. to 6:00 p.m.

Friday ~ 8:30 a.m. to 4:30 p.m

Phone: (312) 906-5180 - Fax: (312) 906-5274





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