When exactly does a Grad Plus loan originate?

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Chessiesmile
Posts: 13
Joined: Sun Jan 11, 2009 11:44 pm

When exactly does a Grad Plus loan originate?

Postby Chessiesmile » Fri Jul 13, 2012 10:55 am

Does anyone know? Seeing how we only have to sign one MPN which is good for ten years, with regard to loans for 2L and 3L years, do these loans originate as soon as soon as we're approved? The reason I'm asking is that the new rules for Grad Plus apply to loans originating on or after 7/1/12, and I borrowed mine right around that date (hopefully just before). Thanks in advance to anyone who might be able to help.

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MrSparkle
Posts: 154
Joined: Mon Jan 03, 2011 3:06 pm

Re: When exactly does a Grad Plus loan originate?

Postby MrSparkle » Thu Jul 19, 2012 3:24 am

Just call them, I'm sure they'd tell you.

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2014
Posts: 5834
Joined: Sat Jun 05, 2010 3:53 pm

Re: When exactly does a Grad Plus loan originate?

Postby 2014 » Thu Jul 19, 2012 1:06 pm

When it disburses I'm pretty sure. They can't charge you fees and interest on money that you haven't received.

And if you borrowed for the upcoming school year you won't qualify for the July 1st deal. I'm also pretty sure that applies only to terms that start on or before that date.




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