| |
AMOUNT
|
REQUIREMENTS/DESCRIPTION
|
Perkins
Student Loans
Master Promissory Note (PDF)
|
$500
- $4,000 per year
|
Interest
accrual and repayment begin 9 months after leaving KWU.
Cancellation available on Perkins Loan for those who
teach handicapped or teach in low-income schools; also
for law enforcement professions, and in other limited
circumstances. Based on financial need. 5% interest
rate.
|
| Direct
Stafford Loans |
Varies: maximum of $3,500 - freshmen; $4,500 - sophomores; $5,500-juniors/seniors.
|
Fixed interest rate of 6.8% (6% after July 1, 2008); interest accrual and repayment begin 6 months after leaving KWU. Origination fee of 1% (.5% after July 1, 2008). Based on financial need. Loans made in two disbursements. Available for half and full-time students. First time borrowers must complete an entrance interview online at http://www.dl.ed.gov The master promissory note should be completed at http://www.lo-online.ed.gov |
Direct
Unsubsidized Stafford Loans
|
Varies.
|
Similar to Direct Stafford Loans, except not need-based and fixed interest rate of 6.8%; interest accrual begins immediately and may be paid periodically or capitalized. Combined eligibility limits for the Stafford and Unsubsidized loans for independent students are: freshmen - $7,500, sophomores - $8,500, juniors and seniors - $10,500; dependent students are: freshmen - $3,500, sophomores - $4,500, juniors and seniors - $5,500. First time borrowers must complete an entrance interview online at http://www.dl.ed.gov The master promissory note should be completed at http://www.lo-online.ed.gov |
| Direct
PLUS Loans (Parent Loans) |
Varies. Cost of attendance at KWU less other assistance |
Repayment begins within 60 days of issuance; fixed interest rate of 7.9%. Origination fee of 2.5%. Parents with good credit rating; non-need-based. Student must be at least half-time. The master promissory note (if one has not already been completed for this dependent at Kansas Wesleyan University) should be completed at http://www.lo-online.ed.gov
The parent must also complete an authorization form at http://www.kwu.edu/enrollment/files/Parentloanauthorization.pdf |
