Financial Aid Updates
Dear School of Nursing Students,
A few weeks ago, all nursing students were sent the first of frequent email communications regarding ongoing updates within the School of Nursing (SON). Earlier today, I forwarded a message from our Penn Librarian with updates for library services. As mentioned, the goal of these emails is to deliver you timely and transparent information.
Last week, many of you received important updates from Student Financial Services, but I wanted to share again some of that information below.
Waived late fees
SFS sent this important message:
Starting on July 1, 2020, interest rates for Federal Loans for undergraduate and graduate students will be reduced. To ensure that students are able to take advantage of these historically low rates, Student Registration and Financial Services is delaying disbursement of federal loans for the 2020-2021 academic year until after July 1.
Students who have already applied for federal loans do not have to take any additional action at this time. If your loan has already disbursed for the 2020-2021 academic year, you will likely notice a balance on your account for several days as we update your loan in the Penn Loan System. This may require us to cancel your existing loan and process a new loan for the existing amount on your behalf.
SRFS will not be assessing late fee penalties as a result of delayed disbursement. If you have questions about your federal loans, please contact the SFS loan team at email@example.com.
Many of you have shared with us that managing finances is among the top challenges you currently face. For that reason, we wanted to reshare the SFS message with you. For questions or more information about this you can find a full contact list for SFS online here. In addition, Financial Wellness @ Penn is a campus resource that provides information on financial literacy and financial health. More information can be found here.
Please know that the staff of the Office of Academic Affairs are available throughout the summer via virtual appointments or email. You can find a full listing of departmental contacts online here.
Christina M. Costanzo, EdD
Assistant Dean for Admissions & Academic Affairs
University of Pennsylvania, School of Nursing