Financial Aid – at San Francisco State University

Replacing Federal Work Study AwardA student may be able to replace the federal work study award with a Direct Loan, if a student is awarded federal work study and does not plan to use the award for employment. The student must have remaining eligibility for the loan increase or loan award. The loan awards cannot be more than the annual maximum based on the student’s class level. Interested students should speak with a financial aid counselor.

Source: Financial Aid – at San Francisco State University

ED Further Clarifies 2015 Budget Proposals (Combined Incomes, PSLF Caps, PAYE Terms) | Educated Risk

UPDATE: Hat Tip to @Cooper’s Comment. According to the 2015 Budget Proposal (page S-13) [PDF], borrowers that have loans disbursed prior to July 1, 2015 will have the old PAYE terms for new loans disbursed after July 1, 2015 as well. Here is the actual text:Students who borrowed their first loans prior to July 1, 2015, would continue to be able to select among the existing repayment plans (for plans for which they now qualify and for loans originated through their current course of study), in addition to the modified PAYE.

Source: ED Further Clarifies 2015 Budget Proposals (Combined Incomes, PSLF Caps, PAYE Terms) | Educated Risk