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Student Loans
Kaskaskia College participates in the Federal Direct Loan program. Federal Direct Loans
are either Subsidized or Unsubsidized.
To participate in the loan programs, the student must meet Satisfactory Academic
Progress requirements. Loans are not processed retroactively for prior completed
semesters.
To qualify for a subsidized loan, the student must demonstrate financial need;
unsubsidized loans are open to all students. While the student is in school, payment of
principal is deferred on both types of loans. Interest on subsidized loans is paid with
federal funds, whereas the student is responsible for accrued interest on unsubsidized
loans. The amount and type of loan that a student may borrow at Kaskaskia College will
vary depending on the student’s financial need and other sources of aid being received.
Loan maximums for students attending Kaskaskia College:
The maximum amount you can borrow each year in Direct Subsidized and Unsubsidized Loans depends on your grade level
and on whether you are a dependent student or an independent student. The following table shows the maximum amount
of money you may borrow each academic year in Direct Subsidized and Unsubsidized Loans as well as the total (aggregate)
amount you may borrow:
| Direct Stafford Loan Limits (Subsidized and Unsubsidized) |
| Undergraduate Students: |
| |
Dependent |
Independent |
| 1st-Year |
$5,500 ($3,500) |
$9,500 ($3,500) |
| 2nd-Year |
$6,500 ($4,500) |
$10,500 ($4,500) |
| Aggregate |
$31,000 ($23,000) |
$57,500 ($23,000 |
Loan Policy
Kaskaskia College (1) will issue loan checks no earlier than 30 days into the semester;
second disbursement, no earlier than 30 days into the second semester.
Requirements
The Direct Loan process consists of three steps. All steps must be completed before
your loan can be fully processed.
1. Online Entrance Loan Counseling is the first in completing your Direct Loan. This
process will take approximately 30-45 minutes. At the homepage, click on
“Entrance & Exit Counseling”. Next, click on “Entrance Counseling”. Choose a
Stafford Loan then click on “Tutorial and Quiz (New Session)”. Review the
content and take the quiz. Enter your personal information and select the school
you want to receive the confirmation. Print the list of Rights and Responsibilities
for your personal records.
Click here to complete Online Student Loan Counseling
2. Completing the Electronic Master Promissory Note is the next step in the Direct
Loan process. Your social security number, driver’s license number, and FAFSA
PIN will all be needed while filling out the Promissory Note. If you do not
remember your PIN number, you can request a duplicate on the PIN Website at
www.pin.ed.gov.
You will also need the names, addresses, and telephone
numbers for two references residing at different addresses.
Click here to complete the Electronic Master Promissory Note
3. The Financial Aid Office needs to ensure that all required steps are in order to process your student loan successfully.
Your student loan cannot be processed until you complete the FAFSA application. After completing the FAFSA you will also need
to complete the Online Entrance Counseling and the Online Master Promissory Note. Please note you must be enrolled in a minimum
of 6 credit hours to obtain a loan. Kaskaskia College has subscribed to a Default Prevention Management Plan for student and
school success. The Default Prevention Management Plan requires a student to obtain a GPA of 2.0 or higher after completing
their last semester of attendance at Kaskaskia College. Students who fail to meet any of the above requirements will not be
eligible for the Federal Direct Stafford Loan Program.
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