| Type | Amount | Who is Eligible | How to Apply | How Award is Determined |
| Federal Academic Competitiveness Grant | Maximum $750 for first year; Maximum of $1300 for second year |
U.S. Citizens demonstrating financial need; degree-seeking undergraduates; full-time enrollment; Pell Grant recipient; completed rigorous secondary school program of study. | Submit FAFSA in early January each and every year. |
Eligibility and award amount is determined by the Student Financial Aid Office upon confirmation of completion of rigorous secondary school program, verification of high school graduation date after January 1, 2005, and minimum cumulative GPA of 3.0 for second year eligibility. Award amount is based on the student's class level and financial need. |
| Federal Pell Grant | $200-4,731 | U.S. Citizens or permanent residents demonstrating financial need; undergraduates. | Submit FAFSA in early January each and every year | Based on need according to federal formula |
| National SMART Grant | Maximum of $4000 |
Must be junior or senior status; U.S. Citizens demonstrating financial need; degree-seeking undergraduates; full-time enrollment; Pell Grant recipient; pursuing major and specific coursework required in mathematics, science (including physical, life, and computer sciences), technology, engineering, or a critical foreign language. | Submit FAFSA in early January each and every year. |
Eligibility and award amount is determined by the Student Financial Aid Office upon confirmation of pursuit of degree in eligible major program of study, grade level status as junior or senior, and minimum cumulative KSU GPA of 3.0. Award amount is based on the student's financial need. |
| Federal Supplemental Educational Opportunity Grant (SEOG) | $600-2,000 | U.S. Citizens or permanent residents demonstrating financial need; undergraduates; at least 1/2 time enrollment | Submit FAFSA in early January each and every year | Must have zero EFC (according to federal formula); award amount is determined by the student's enrollment status, class level, and residency status. Limited funding is available. |
| Ohio Instructional Grant | $294-2,190 | Ohio residents, full-time undergraduates | Submit FAFSA in early January each and every year | Based on family income. For more information visit http://regents.ohio.gov/sgs |
| Ohio College Opportunity Grant (OCOG) | $78-$2,496 | Based on financial need as determined by Federal Expected Family contribution; Ohio resident; Undergraduates who have not yet earned a baccalaureate degree; Incoming student 2006-2007or after | Submit FAFSA in early January each and every year; FAFSA must be received by October 1st deadline date. | Part-time students eligible for the OCOG will have amount adjusted based on actual enrollment; restricted to tuition. For more information visit: http://regents.ohio.gov/sgs |
| Pennsylvania State Grant | $100-600 | Pennsylvania residents attending an Ohio university, minimum 6 credit hours, undergraduates | Submit FAFSA in early January (and no later that May 1st), each and every year | Based on need/family income. For more information visit www.pheaa.org |
| Vermont Incentive Grant | $500-9,100 | Vermont residents attending an Kent State University, full-time, undergraduates | Submit FAFSA in early January, a Vermont Grant application (available Online at http://services.vsac.org) | Based on financial need. For more information visit http://services.vsac.org |
Federal Direct Loan Update
Effective July 1, 2008, undergraduate students will be eligible to borrow up to an additional $2,000 from the Federal Direct Loan Unsubsidized Program. These additional loan amounts were not included in the financial aid awards for the 2008-2009 award year. Amounts for graduate students remain unchanged. For more information on the Federal Direct Loan limits, view the chart below. If you desire to borrow Additional Unsubsidized Loan funds, click here to complete the Federal Direct Loan Request Form. You may view your awards on the Web at flashline.kent.edu.
Federal Direct Loans
All Kent State University students who complete the FAFSA will be awarded the Federal Direct Loan based on the grade level. The Subsidized Direct Loan is awarded to students who demonstrate financial need. The Unsubsidized Direct Loan is awarded to students who do not demonstrate financial need. Interest will accrue on unsubsidized loans and will capitalize unless you choose to pay the interest while in school.
In order for the loan funds to apply to your student account, you must go online to accept the Direct Loan award at flashline.kent.edu. Select Student Tools, then select Financial Aid. You have the option to accept, decline or reduce your award on flashline. Once you submit your option and would like to change, you must contact Student Financial Aid Office.
The Master Promissory Note (MPN) must be signed and on file with Direct Loans in order for you to receive the loan funds. If you have a valid MPN on file with Direct Loans, you are not required to sign again. Click here for more information on the electronic signature process.
Students must be enrolled at least half time (6 credit hours undergraduate; and 4 credit hours graduate) and meet all other compliance requirements in order for the loan funds to be credited to the student account. If the funds cause a credit on the student account, the Bursar’s Office will issue a refund.
Repayment of the loan begins six months after you have graduated or ceased to be enrolled at least half time (6 credit hours undergraduate; and 4 credit hours graduate). Four repayment plans are available.
Direct Loan Helpful HintsKnow Your Responsibilities as a Borrower of a Direct Loan
Loan Comparison Chart
| Type | Amount | Who is Eligible | How to Apply | How Award is Determined |
| Federal Direct Subsidized Loan | $3,500 for freshmen, $4,500 for sophomores, $5,500 for juniors and seniors, $8,500 for graduate students |
U.S. Citizens or permanent residents; must be half-time (ugrad:6 credit hours grad:4 credit hours) |
Submit FAFSA in early January each and every year | Fixed interest rate for undergraduate students is 6.0% on loans first disbursed after July 1, 2008; Based on financial need according to federal formula. Repayment begins 6 months after student ceases half-time enrollment |
| Federal Direct Unsubsidized Loan | Loan limits are the same as amounts listed for subsidized loans. In addition, dependent students can borrow an additional $2,000. Independent students can borrow an additional $6,000 or $7,000 per grade level. | U.S. Citizens or permanent residents. Students who are not eligible for the maximum subsidized loan; Independent students. Must be half-time (ugrad:6 credit hours grad:4 credit hours) |
Submit FAFSA in early January each and every year | Fixed interest rate of 6.8% on loans first disbursed after July 1, 2006; Repayment begins 6 months after student ceases half-time enrollment |
| Federal Perkins Loan* | Varies. Average award $2,000 |
U.S. Citizens or permanent residents; must be half-time (ugrad:6 credit hours) |
Submit FAFSA by Kent State's priority processing date of March 1 | 5% interest rate; |
| Federal Nursing Loan* | Varies. Average award $3,000 | Students admitted to Nursing program, undergraduates. Must be half-time (ugrad:6 credit hours) |
Submit FAFSA in early January each and every year | 5% interest rate; Based on financial need according to federal formula, class level; enrollment status. Repayment begins 9 months after student ceases half-time enrollment |
| Federal Direct Parent PLUS Loan (see more below) |
Up to the cost of education less any aid received | Parents of dependent students. Must be half-time (ugrad:6 credit hours) |
Submit FAFSA in early January each and every year | Fixed interest rate of 7.9% on loans first disbursed after July 1, 2006; enrollment status; class level. |
| Federal Direct PLUS for Graduate Students (see more below) |
Cost of attendance minus other aid | Graduate students, must be half-time (4 credit hours) |
Submit FAFSA in early January each and every year | Fixed interest rate of 7.9% on loans first disbursed
after
July 1, 2006; enrollment status; class level. Repayment begins 60 days after disbursement of loan |
| Key Bank Alternative Loan | Cost of attendance minus other aid | U.S.citizen, permanent resident, credit worthy or co-signer required | www.keybank.com/kent 1-800-KEY-LEND |
Minimum half-time (6 credit hours) required. |
| Key Bank EdAchiever Loan | Cost of attendance minus other aid | U.S.citizen, permanent resident, credit worthy or co-signer required | www.keybank.com/kent 1-800-KEY-LEND |
Minimum One credit hour required |
| Citibank CitiAssist Loan | Cost of attendance minus other aid | U.S.citizen, permanent resident, credit worthy or co-signer required | www.citiassist.com 1-800-745-5473 |
Minimum One credit hour required |
* To be considered for these programs, you must answer "yes" to question
#27 on the FAFSA.
Federal Direct PLUS Loan for Parents
Parents of dependent students are eligible to borrow funds under the Federal Direct PLUS Loan for Parents program. At Kent State University, this loan is automatically estimated for eligible dependent students that answered “yes” to question #27 on the Free Application for Federal Student Aid (FAFSA).
The PLUS loan requires a credit worthy parent borrower and allows the parent to borrow the cost of attendance minus financial aid. The eligible parent borrower must be the student’s mother, father, or the step parent whose information is submitted on the FAFSA during the year of the loan. To apply for the PLUS, complete the PLUS Pre Application form on the back of the Financial Aid Award Letter or download a copy by clicking here and mail or fax to the Student Financial Aid Office.
The PLUS Master Promissory Note (MPN) will be mailed to the parent borrower from the Student Financial Aid Office. If the parent desires to sign the electronic PLUS MPN, the parent will need their FAFSA PIN. Click here for more information.
Repayment generally begins 30 to 60 days after the funds are fully credited to the student account. There is no grace period for the parent borrowers. Interest begins to accumulate at the time of the first disbursement and is currently fixed at 7.9 percent.
Additional Unsubsidized Based on Parent PLUS Denial
Parents who have been denied the Parent Loan for Undergraduate Students (PLUS) based on credit may request their dependent students receive the Federal Direct Unsubsidized Loan. This request must be made on the PLUS Pre Application. Eligible students can receive up to $4,000 unsubsidized for freshmen and sophomore years and up to $5,000 for junior and senior years.
Federal Direct PLUS Loan for Graduate Students
Graduate PLUS - Federal Direct PLUS for Graduate Students is a loan from the Department of Education which provides additional funds for educational expenses not met by other types of aid.
To apply for the Graduate PLUS, download a copy by clicking here and mail or fax to the Student Financial Aid Office.
To be eligible to receive a Grad PLUS loan the borrower must:
Alternative Loans
Financing a college education is a concern for many families. Most financial aid packages will include student loans; however, federally subsidized and unsubsidized loans may not cover the total cost of college expenses. Consequently, families are faced with the challenge of meeting the cost of their expenses.
Alternative loans are private loans that provide students with additional funding for unmet college expenses. Students are encouraged to file the Free Application for Federal Student Aid (FAFSA) to exhaust all eligibility for federal funds before applying for alternative loans. Alternative loans are not federally guaranteed and require a good credit rating and/or credit worthy co-signer. The annual amount cannot exceed the cost of attendance minus other financial aid.
We believe that borrowing an alternative loan is a decision that should be made with careful consideration. That is why Kent State has entered a partnership agreement with Citibank and Key Bank for easy on-line applications processing for alternative loans. Kent State students who apply via Citibank and Key Bank will benefit from competitive rates, electronic funds transfer, no penalties for canceling or reducing loans, and an array of repayment options. Most important, these lenders have no origination fees and no penalties for canceling or reducing loan amounts.
Alternative loans processed via Citibank and Key Bank will be electronically transmitted to the lending institution and the Electronic Funds Transfer (EFT) will be transmitted to the Bursar’s Office. If the funds cause a credit on the student account, the Bursar’s Office will send a refund check or electronic deposit. Click here to review the Bursar’s refund policy.
Students applying at Key Bank must be enrolled at least half-time (6 credit hours for undergraduate or 4 hours for graduate students) for the Key Alternative Loan and at least one credit hour for the KeyBank EdAchiever Loan. Students applying at Citibank must be enrolled at least one credit hour for the CitiAssist Loan. The process for applying for alternative loans with Citibank or Key Bank is fast and easy. Applicants can apply on line for real-time credit decisions. For more information on Citibank CitiAssist Loan, Key Bank Key Alternative Loan or KeyBank EdAchiever Loan, visit the web sites listed below.
|
Alternative Loan Lenders |
|
| Citibank CitiAssist Loan 1-800-745-5473 www.citiassist.com |
Key Bank Alternative Loan 1-800-KEY-LEND www.key.com/kent |
| Type | Amount | Who is Eligible | How to Apply | How Award is Determined |
| Federal Work Study (FWS)* | Average for
freshmen $2,000, Continuing students $3,000 |
U.S. Citizens or permanent residents demonstrating financial need | Submit FAFSA in early January each and every year | Part-time, on- or off-campus |
| Graduate Assistantships | Varies | Students who are eligible for FWS. If not, students may have one funded through the individual department | Contact college department | Part-time, on- or off-campus |
| University funded positions | Varies | All undergraduate and graduate students | Apply directly to campus departments | Part-time, on- or off-campus |
* To be considered for these programs, you must answer "yes" to question
#28 on the FAFSA.
Federal Work Study
The Student Financial Aid Office awards FWS to students that qualify.
The student will be allowed to work in a FWS position on or off-campus. Once
the student has been awarded FWS he/she can search the Career
Services Center Website for a particular position. The student will need
to apply and interview for the position.
Note: FWS dollars awarded are amounts that can be earned in a given semester and are not applied to your student bill.