Once you and your family have considered [institutional and] federal loan options, you can use the KHEAA Student Loan Marketplace to instantly and accurately compare rates and terms from multiple private loan lenders side-by-side. This will help you make an informed decision about the most appropriate loan for you.
The Marketplace displays products from local and national lenders, complete with detailed listings of APRs, interest rates, total cost, monthly payments, borrower benefits, fees and repayment options.
Federal Funding First
You may qualify for Federal education loans.
For additional information, contact your financial aid office or the U. S. Department of Education at: www.federalstudentaid.ed.gov
|Student Aid Program||Types of Aid||
Annual Award Limits
|Federal Pell Grant||Grant||Need based financial aid for undergraduate students. Does not have to be repaid.||
|Federal Supplemental Education Opportunity Grant (FSEOG)||Grant||Available to Pell Grant eligible undergraduate students depending on funding availability. Does not have to be repaid.||
|Federal Work Study||Money earned while attending college||For undergraduate students; jobs on or off campus depending on funding availability.||
|Federal Perkins Loan||Loan||Low interest Loan (5%)Depends on availability||
|Federal Direct Loan||Loan||Loan available for undergraduate and graduate students; must be enrolled at least half time to be eligible; must demonstrate financial need to qualify for Subsidized direct loan, which is determined by your FAFSA.||Subsidized Direct Loan
*$3,500 – $5,500
*Depending on your year in school.Unsubsidized Direct Loan
*$5,500 – $20,500
*Depending on your year in school.
|Federal PLUS Loan||Loan||Available to parents of Dependent undergraduate students (PLUS) and to graduate & professional students (Grad PLUS) enrolled at least half time||Maximum loan amount is the cost of attendance minus any other financial aid.|
You must complete a Free Application for Federal Student Aid (FAFSA) to be eligible. The FAFSA is a form that is filled out annually by current and prospective undergraduate and graduate students to determine their eligibility for federal student aid.
The FAFSA consists of questions regarding your finances, as well as those of your family; these are entered into a formula that determines the Expected Family Contribution (EFC). A number of factors are used in determining the EFC including family size, income, number in college, and assets (not including retirement and 401K). This information is required because of the expectation that parents will contribute to their child’s education.
Upon completion of the FAFSA, you will be sent a Student Aid Report (SAR). You should review the SAR carefully for any necessary corrections. An electronic version of the SAR is sent to the schools you select on the FAFSA. The information is also sent to state agencies that award state need-based aid. Schools may award aid on a first-come, first served basis, and is strongly recommended that you fill out the FAFSA as early as possible after January 1st each year for consideration for maximum financial assistance.
To begin, get a Federal Student Aid PIN to apply, sign and make corrections to your FAFSA. Apply for your PIN at the Department of Education’s website. Remember, the first F in FAFSA stands for FREE, and as such both the FAFSA site and the FAFSA itself do not cost you anything to complete—don’t let any websites tell you otherwise.
LENDER SELECTION CRITERIA
Many lenders have elected to provide accurate rates and terms for students to compare in the KHEAA Student Loan Marketplace. However, you may apply for a loan from any lender to fund your education, regardless of whether or not they are in the Marketplace. We will not deny or otherwise impede your choice of lender or cause unnecessary delay in loan certification for any borrower.
Each lender available to you in the KHEAA Student Loan Marketplace meets the following criteria:
Remains in good regulatory standing
Commits to presenting upfront, accurate pricing information to students
Only offers school-certified loans
Provides as online application process for students seeking a loan
Our School has adopted a Code of Conduct with respect to student loans which applies to all employees in the financial aid office and anyone else at our school who has any responsibilities with respect to student loans or the selection of preferred lenders for student loans. To view our Code of Conduct, visit the financial aid website.