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JCT is undergoing approval by the US Department of Education to certify loans under the Willian D. Ford Load Program. Eligible students can obtain federally supported Subsidized & Unsubsidized Direct loans and Direct Plus loans. The federally supported loans are made by the US Department of Education rather than by a private bank or lender.
Information on Subsidized and Unsubsidized from the US Department of Education
Information on Direct Plus loans from the US Department of Education
The process of applying for Federal Aid is different for students at universities outside of the U.S. Unlike U.S. universities, JCT requires that all students who intend to take out U.S. Federal Student Aid loans notify JCT by emailing esp@jct.ac.il
Students are strongly advised to allow plenty of processing time for Federal Aid application - it can easily take up to six weeks at schools outside the U.S.
The annual deadline for submitting all required documentation for Semester 1 is 31 July. Any documentation submitted after this date may result in the first loan disbursement being delayed by up to a month.
Please note that Federal Aid regulations for universities outside the US differ from those in the US. JCT liaises with the US Department of Education to ensure that it follows all appropriate regulations for universities outside the US.
JCT recommends that students prioritize their loan options as follows:
Remember: the higher your interest rate, the more you will pay back.
Applying for Federal Aid at JCT may differ from other universities. You must already have secured an offer for a JCT program before making your application for financial aid, and your documents will not be processed until you have the required status (‘Accept’ or ‘Conditional Accept’). Upload all necessary documentation to the JCT Global Office before the deadline (usually 30 July). (Jerusalem College of Technology)
FAFSA Submission Summary (FSS):
To apply for a Direct or Direct PLUS loan, first complete the Free Application for Federal Student Aid (FAFSA) online.
Filing the FAFSA generates a FAFSA Submission Summary (FSS), which the school uses to determine your loan eligibility and amount.
You may need to create a FAFSA account, and if so you can use it again in future years.
After filing, the U.S. Department of Education processes your FSS. You must download and send the FSS PDF to the school so they can certify your loans.
Be sure to enter the University’s Federal School Code: on your FAFSA. (Jerusalem College of Technology)
Direct Loan Application:
Complete the Direct Loan Application/Master Promissory Note (MPN) online.
Keep all loan documents for your own records — you’ll need them once loan repayment begins. (Jerusalem College of Technology)
Direct Loan Amounts:
Loan amounts vary depending on your dependency status and year in college.
Dependent undergraduates can borrow up to $3,500–$5,500 (subsidised) plus $2,000 (unsubsidised) depending on year level.
Independent undergraduates have higher unsubsidised loan limits.
Graduate/Professional students can borrow up to $20,500 (unsubsidised). (Jerusalem College of Technology)
PLUS Loans:
You (or a parent, if dependent undergraduate) can apply for PLUS loans, which allow borrowing up to your Cost of Attendance (COA) minus any Direct Loan amount — subject to credit approval.
Graduate students can apply for the Grad PLUS on their own signature. (University of Limerick)
Parent PLUS Loans:
Parents of dependent undergraduates can apply for PLUS loans; if denied, the student may still receive unsubsidized Direct Loans. (Jerusalem College of Technology)
File FAFSA online and get your FSS.
Complete Direct / PLUS MPN(s) online.
Submit all documents to the JCT Financial Aid Administrator (FAA) in the JCT International Office.
Once the FAA has received the MPN(s) and your FSS, you will receive an Award Letter with eligible loan amounts and a Loan Amount Declaration to sign. When complete, the school can certify your loan. (Jerusalem College of Technology)
The US Federal Government requires that JCT provides the following information to students eligible for US Federal Loans. Please note that at this time some of this content may be restricted to current students.
If you require further information please contact the JCT Federal Aid Team at esp@jct.ac.il
If a student who is in receipt of US Federal Funding withdraws from the college, or takes unapproved leave of absence, during a loan period, the FAA will determine the amount of loan money to be returned to the Federal Student Aid Program.
Note: The return of Federal Loan Funds takes precedence over the college’s own tuition refund policy in the event of withdrawal. However, students should note that the return of loan funds does not cancel their liability to the JCT for any tuition fee balance outstanding on their account.
When a student withdraws, the college is required to calculate the amount of “unearned” funds to be returned. Unearned funds are calculated pro-rata, based on the number of days attended during the loan period, up to the date that notice of withdrawal is received by the college. The FAA will calculate the number of days attended as a percentage of the total number of days in the loan period. This determines the amount of “earned” funds, and any remaining “unearned” funds must be returned to the FSA program.
This calculation is applied to the total amount disbursed for the loan period. Therefore, a student who received a refund (for living expenses etc) from the college after tuition was deducted, will be required to repay the “unearned” portion.
Note: If a student completes more than 60% of the loan period, no return of FSA funds is required.
Return of Funds:
When a student withdraws, the college is required to return any “unearned” funds, up to the net amount disbursed from each source, in the following order:
• Unsubsidized Direct Loans
• Subsidized Direct Loans
• Direct PLUS Loans
Loan Repayment:
When a student withdraws, the college will inform the servicer of the date of separation, and the borrower “grace period” will commence. All loan funds received up to that date, including any funds given to the student for the loan period during which they withdrew, will be repayable at the end of the grace period, under the terms and conditions of the FAFSA Policies.