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Federal
Perkins Loan
The University participates in the Perkins Loan program. Eligibility is based
on need. The loan ceiling for undergraduates is $15,000; annual loan limits are
$3,000 for undergraduates. No interest accrues on these loans before graduation
or withdrawal from University. Interest thereafter is paid at the rate of five
percent per year. The loan can qualify for cancellation under certain conditions
as long as the borrower is not in default. Contact the Financial Aid Office for
the list of cancellation conditions.
Federal Stafford Loans
There are two kinds of federal Stafford loans. The subsidized loan is based on
need; the federal government “subsidizes” the interest on this loan
while the student is in University. The unsubsidized is not need-based; it is
available to students regardless of personal or family income, but the student
pays the interest on it while he/she is in school. Students are under full obligation
to repay either loan six months after graduation or when they drop below the
required course load.
PLUS Loans
A Federal PLUS loan is a variable interest rate installment loan to help parents
or legal guardians pay for their dependent students’ post-secondary education.
Sallie Mae Online Loan
Counseling
Students who borrow under the Federal Family Education Loan Program or the Federal
Direct Loan Program for the first time are required to complete counseling before
their loan proceeds can be released. You may complete your counseling requirements
by clicking on the graphic below. If you have any questions as you complete the
counseling requirements you may contact the financial aid office at 1-800-752-7043
x 4, 913-758-6118, or by clicking on the "Email a Question" button
on the counseling pages. Continue your counseling session by visiting
Stafford
Loan Guide entrance counseling or
Student
Loan Transition Guide exit counseling.
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