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Frequently asked questions
Ford Federal Direct Loan
- What's the difference between subsidized and unsubsidized
Ford Federal Direct Loans?
- A subsidized loan is awarded on the basis of financial need. You
will not be charged any interest while you are enrolled at least half-time
or during eligible grace and deferment periods. An unsubsidized loan
is not awarded on the basis of need. You will be charged interest
from the time the loan is disbursed until it is paid in full.
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At my previous college I had a federal FFEL Stafford Loan
from a bank to finance my education. Why isn't it listed as a financial
aid possibility at your school?
- The University of Missouri participates in the Federal Ford Direct Loan program.
Under this program, the funds for your loan are lent to you directly
by the federal government. The program was authorized by Congress
in 1993 to save money, reduce the likelihood of multiple lenders and
to speed up the process.
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Why do I have to have an entrance interview before my Federal
Ford Direct Loan will pay through the accounting system?
- This is a federal requirement for first-time borrowers to ensures that borrowers
are aware of their responsibilities and rights. For example, it is
the borrower's responsibility to notify the Federal Direct Loan Office
of any changes of address or name. You also need to learn about the
different payment options and various deferment rights. The ultimate
goal of these entrance interviews is to prevent defaults. You are
also required to attend a mandatory exit interview when you graduate
or leave our school.
Financial Aid Contact Information
Write:
Cheri Marks
Coordinator, Financial Aid
School of Medicine
MA215 Medical Sciences Building
Columbia, MO 65212
Call
(573) 882-2921
E-mail
marksc@health.missourui.edu
Fax
(573) 884-2988
Office hours
8 a.m. to 5 p.m.
Monday to Friday
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