Siena Heights University
unsubsidized loan DOES accrue interest while the student is in school. Students can make interest payments or
let the interest capitalize. The Financial Aid Office will notify students, who are eligible to borrow an Unsubsidized
Stafford Loan, of their maximum eligibility. Maximum loan amounts are based on grade level, dependency status
and financial need.
Federal Parent Loan for Undergraduate Students (PLUS)
The Federal PLUS program allows parents to borrow up to the cost of attendance minus estimated financial aid
for the academic year for each dependent student enrolled at least half time. The borrower has the option of
beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed or wait until six months
after the dependent student on whose behalf the parent borrowed ceases to be enrolled on at least a half-time
basis. The University determines maximum eligibility. The parent applicant will need to complete a Parent PLUS
application and PLUS direct loan master promissory note yearly at StudentLoans.gov.
Loan Entrance/Exit Interviews
First time Federal Direct Student Loan borrowers at Siena Heights must complete the online Loan Entrance
Counseling and Quiz before loan funds can be disbursed. Completion of the Loan Entrance Counseling and Quiz
is a federal requirement that discusses your rights and responsibilities as a Federal Direct Student Loan
borrower. Please complete the online entrance counseling at StudentLoans.gov. We encourage you to print the
confirmation page for your records. Once you have completed the online entrance counseling and quiz, we will
receive an automated confirmation.
If you withdraw from Siena Heights prior to the completion of your program it is important that you contact the
following offices: Financial Aid, Registrar, and your program advisor. This is to ensure that the school can provide
you with the appropriate exit counseling.
Exit Counseling occurs during a student’s expected year of graduation, at the time a student leaves school, or
drops below half time enrollment status. Each borrower is given a summary of his/her total loan debt and detailed
information regarding loan repayment. Exit Counseling can be completed by logging onto the StudentLoans.gov
website.
Student Loan Deferment Processing
Siena Heights University submits information on all attending students to the National Student Clearinghouse
(NSC). This information is submitted by Siena Heights to the NSC four (4) times for Fall and Winter sessions, and
three (3) times for Summer session. All lending agencies pull down this information from the NSC, as needed, to
service their lenders. Siena Heights does not supply this information directly to lending agencies. The lending
agencies use this information to determine whether or not a student should begin repayment of their loan.
Students may be informed by their lender that they are going into repayment of their loan(s) for any of the
following reasons:
1. They have used up their grace period.
2. They are no longer enrolled at an institution of higher education.
3. Their name missed the first submission of the session because they registered after the date of
the first submission by Siena Heights to the NSC.
If any of the above circumstances happens, the student should call their lender to either make arrangements for
payment, or to ask for a deferment form. Many lending agencies have this form on their web site. The student
should complete the information on the form that is required by the lender and forward it to the Registrar’s Office
for completion. The form must have a fax number, e-mail address, or mailing address to return the form to the
lender. The Registrar’s Office will send this deferment to the lender.
Undergraduate and Graduate Catalog 2016-2018
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