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.
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 |
*The numbers in parentheses represent the maximum
amount that may be subsideized.
The Direct Loan process consists of three steps.
All steps must be completed before your loan can be fully processed.
1.
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.
2.
Online Entrance Loan
Counseling is the first step 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
3.
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
First time borrowers at Kaskaskia College must also attend a First Time Loan
Seminar after steps 1, 2, and 3 have been completed.
Click here to find out dates, times and
locations of the First Time Loan Seminar
Continuing borrowers need to complete steps 1, 2 and 3 then complete the KC
Student Loan Request. Students will need to include how much they have borrowed
not only Kaskaskia College but all institutions as well. To access this
information you will need log into the National Student Loan Data System at:
www.nslds.ed.gov using the steps below:
1)
Go to: www.nslds.ed.gov
2)
Click on “Financial Aid Review”
3)
Click “Accept”
4)
Click “Accept” again
5)
Students will need the following to log in:
a.
Social Security Number
b.
First two letters of your last name
c.
Date of Birth
d.
PIN
6)
After logging in the student’s loan information will be displayed as well as
Pell Grant information if applicable.
Click here to complete the KC Student Request Form
Kaskaskia College subscribes 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. Direct Loans work with many loan
servicers. To find out who your lender is you an account with the National
Student Loan Data System at www.nslds.ed.gov
or go to the Direct Loan website at
www.myedaccount.com. To access the loan servicers that the Department of
Education is in cooperation with click the link below.
http://ifap.ed.gov/ifap/helpContactInformationDetailedList.jsp?lsc=2