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Graduate Students & Subsidized Stafford Loans

President Obama signed the Budget Control Act of 2011 into law on August 2, 2011 eliminating the in-school loan interest subsidy for graduate and professional students for periods of enrollment beginning on or after July 1, 2012.

Students will be able to borrow an additional amount in unsubsidized loans equal to the amount they otherwise would have received in subsidized loans.

The legislative language clarifies that the subsidy elimination does not apply to students taking preparatory coursework and those in programs leading to teacher certification where the credential is awarded by the state instead of the institution.

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