The Board's policy statement would lift that requirement and extend state assistance to needy students who enroll for at least six credits per term. The Board 's policy statement also endorses continued state support of merit-based award programs. Making the program even more attractive is a low 3.5 percent origination fee, which reflects a 30 percent reduction achieved through program efficiencies. Iacovelli said the agency has taken steps to make the program more convenient for borrowers and schools to utilize.
Borrowers also find that the program's repayment options and loan terms are flexible.
Students may borrow up to the full cost of attendance after other sources of financial aid have been fully utilized. Attached to this issue of The Authority is a schedule of dates and locations for these regional financial aid workshops. High school counselors may use this information when discussing college financial aid and options for financing higher education with their college-bound students. The three-day event offered sessions on the web site's features and services for students, families and schools, and also served as a professional development opportunity for staff members from the participating guaranty agencies. Discussions ranged from business and customer service strategies to electronic standards and programming design.