New Job Opportunities Web Page
This fall will bring a new and interactive employment search experience
Students looking for part time work can find help wanted ads here. New job listings are being added continually throughout the school year. Occasionally postings will appear requesting full time employees, so spouses of students and faculty looking for work can utilize this site. The old Job Opportunities web page is still visible, but will be disabled in the near future. You can find our new Job Opportunities web page here http://blogs.mlc-wels.edu/studentjobs
New in 2013-14! Net Partner
Net Partner puts you in charge of your information
By going to MLC’s portal and the secure Net Partner site, you will be able to access your financial aid from anywhere in the world using only an internet browser. No longer will you need to remember to take home, or to whichever part of the world you are going during summer vacation, the award letter and important information that were included. Here are some of the things you can do:
- Learn of required documents needed to verify your FAFSA. When documents needed are determined, we send an email advising you to log in to Net Partner.
- Print forms that need to be completed so you can return them as an attachment by email, fax, or via the postal service.
- View the financial aid you are awarded. Again, we notify you by email that your aid is processed.
- Accept loans by printing the Loan Request Form and completing the process outlined on the form.
- Net Partner does not include your Student Billing Account information
Only students who have submitted a FAFSA can have an electronic account. Net Partner will be available about March 1.
To access the Net Partner site, click here or select the Net Partner link on the left hand side of this page, or go to the MLC Portal under Tools
Changes to Federal Loan Interest Rates
Congress has just passed, and President Obama has signed the Bipartisan Student Loan Certainty Act of 2013. The new law amends the Direct Loan interest rate section of the Higher Education Act of 1965. The new law provides new formulas for the determination of interest rates for all Direct Loan types (Subsidized, Unsubsidized, PLUS loans and Direct Consolidation Loans) for which the first disbursement is made on or after July 1, 2013.
Direct Subsidized 3.86%
Direct Unsubsidized 3/86%
Direct PLUS 6.41%
The following link will take you to the announcement to the financial aid community with details of the new law. Federal Direct Subsidized Update on Direct Loan Interest Rates effective 7/1/2013
Impact of Sequestration on the Federal Student Aid Programs
On August 2, 2011, Congress passed the Budget Control Act of 2011, which put into place automatic federal budget cuts, known as a “sequester,” to take effect if Congress failed to enact legislation to reduce the Federal deficit by March 1, 2013. Because Congress did not act, these budget cuts are now in effect. Below is a summary of the impact of these budget cuts on certain federal student aid programs:
Pell Grant Program
The law specifically exempts the Pell Grant Program from the effects of the sequester. Therefore, the maximum Pell Grant award for the current 2012-13 Award Year remains at $5,550 and the maximum Pell Grant award for the upcoming 2013-2014 Award Year remains at $5,645.
Direct Loan Program
While this law does not otherwise change the amount or terms or conditions of Direct Loans, it does raise the loan fee paid by borrowers for Direct Loans first disbursed after March 1, 2013.
For a Direct Subsidized or Direct Unsubsidized Loan, the loan fee will increase from 1.0 percent of the principal amount of a loan to 1.051 percent. For example, the fee on a loan for $5,500 will be increased by $2.80 from $55.00 to $57.80.
For Direct PLUS Loans for both parent and graduate student borrowers, the loan fee will increase from 4.0 percent to 4.204 percent. For example, the fee on a $10,000 Direct PLUS Loan will increase by $20.40 from $400.00 to $420.40.
The Department of Education will be notifying borrowers individually of these fee increases and providing them with additional information within the next few days.
Iraq and Afghanistan Service Grants
The Iraq and Afghanistan Service Grant is provided to certain students whose parent or guardian was a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11. Award amounts for any Iraq and Afghanistan Service Grant that is first disbursed after March 1, 2013, must be reduced by 37.8 percent from the award amount for which a recipient would otherwise have been entitled. For example, the 2012-13 maximum award of $5,550 is reduced by $2,097.90, resulting in a maximum award amount of $3,452.10; and, the 2013-14
New Federal Directive Regarding the Federal Direct Subsidized Loan
Until recently, Direct subsidized loan interest has been paid by the federal government during the six month grace period, which is the period of time immediately after a student graduates, withdraws or ceases to be enrolled at least half time.
Now, however, if you received a subsidized loan for which the first disbursement was made on or after July 1, 2012, and before July 1, 2014, you will be responsible for the interest that accrues while your loan is in the grace period.
You do not have to make payments during the grace period (unless you choose to) but the interest will be added (capitalized) to the principal amount of your loan when the grace period ends. This provision does not eliminate the interest subsidy while the borrower is in school or during eligible periods of deferment.