As part of the law that extended the 3.4 percent interest rate for Direct Subsidized Loans until July 1, 2013, a new borrower on or after July 1, 2013 becomes ineligible to receive additional Direct Subsidized Loans if the period during which the borrower has received such loans exceeds 150 percent of the published length of the borrower’s educational program. NASFAA has compiled a list of frequently asked questions and answers to help provide further clarification on this rule.
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