Loans are a form of self help aid and must be repaid.

Attention New Students

In order for your Federal student aid (Title IV aid which includes Parent PLUS loans) to pay for non-institutional charges, an authorization must be provided by you. A separate authorization is needed to allow Title IV aid to pay for prior-year non-institutional charges.

For more information, visit the Bursar Office. 

Provide authorization via FlashLine

  • Login to your FlashLine Account at www.kent.edu
  • Click on the Student tab in the left column
  • Under Finances, choose Financial Aid  
  • Click Title IV Federal Aid Authorization      

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 login to your FlashLine account.

  • Click on the Student tab in the left column
  • Under Finances, choose Financial Aid  
  • Click Financial Aid Awards        
  • Under Aid for Award Year, choose the appropriate Award Year from the drop-down menu and click Submit 
  • Under the Accept Award Offer tab, you have the option to reduce, decline, or accept your Direct Loan award.
  • Once you submit your option and would like to change, you must contact the Student Financial Aid Office.

Access the New and FlashLine Classic view guide

You must sign the Master Promissory Note (MPN)  and have it 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.

Access more information on the electronic signature process

You must complete Entrance Loan Counseling if you are a first time borrower.   Entrance Loan Counseling is found at www.studentloans.gov.  You will need your FSA ID to access the counseling requirement. You 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). Several repayment plans are available.


Loan Programs

Federal Direct Subsidized and Unsubsidized Loan Program

Loan Limits:

Annual Loan Limits - $5,500 for freshmen*, $6,500 for sophomores*, $7,500 for juniors/seniors* (*Includes $2,000 unsubsidized)

$20,500 for graduate level non-medical (graduate level eligible for unsubsidized only)

Who is Eligible:

U.S. Citizens or permanent residents; must be half-time (ugrad:6 credit hours grad:4 credit hours)

How to Apply:

Submit FAFSA in early January each and every year

Interest Rates:

  • Undergraduate Students:

    7/1/15-6/30/16
    Fixed Interest Rates
    4.29% Subsidized
    4.29% Unsubsidized

    7/1/14-6/30/15
    Fixed Interest Rates
    4.66% Subsidized
    4.66% Unsubsidized

  • Graduate Students

    7/1/15-6/30/16
    Fixed Interest Rates
    5.84% Unsubsidized

    7/1/14-6/30/15
    Fixed Interest Rates
    6.21% Unsubsidized

Visit www.studentloans.gov for rates on loans disbursed prior to 7/1/14


Federal Perkins Loan

update:

On December 18th President Obama signed the Perkins Loan Program Extension Act of 2015. The Act will now extend the authorization of the Perkins Loan Program for another two years, after the program expired at the end of September 2015. 

Important: Pursuant to the approval of the Perkins Loan Extension Act of 2015 all Perkins Loan borrowers will be required to complete a disclosure process before receiving a Perkins Loan disbursement. Also, new borrowers are required to be considered for subsidized and unsubsidized Direct Loan funds prior to a Perkins Loan. Your eligibility for the Perkins Loan program may change if your financial aid package changes.  The Perkins Loan disclosures and promissory note will not be available to complete until further guidance is received from the Department of Education.  Future availability of the Perkins Loan is subject to change based on congressional action, however the Federal Perkins Loan Extension Act prohibits any further extensions of the Perkins Loan Program. Schools may not make Perkins Loans to any undergraduate student on or after October 1, 2017. 

You must accept the Perkins Loan award at flashline.kent.edu.  Select Student Tools, and then select Financial Aid.  You have the option to accept or decline your award on FlashLine.  Once you submit your option, if you would like to make a change you must contact the Student Financial Aid office.

You must electronically sign the Master Promissory Note (MPN). You will be notified via e-mail by Heartland, ECSI, our student loan billing service, when your Master Promissory Note is available to be signed.  Upon receipt of that e-mail, you can access the MPN for your Perkins Loan by clicking on the link provided. Visit the Bursar's Office website for more information.

Loan Limits:

Varies. Average award $2,000

Who is Eligible:

U.S. Citizens or permanent residents; must be half-time (ugrad:6 credit hours). Based on financial need according to federal formula, class level, GPA, residency, enrollment status (subject to change)

How to Apply:

Submit FAFSA by Kent State's priority processing date of March 1

Interest Rates:

5% interest rate;  Repayment begins 9 months after student ceases half-time enrollment


Federal Nursing Loan

Loan Limits:

Varies. Average award $3,000

Who is Eligible:

Students admitted to undergraduate Nursing program at Kent, Ashtabula, East Liverpool, Stark and Tuscarawas campuses. Must be 6 credit hours. Based on financial need according to federal formula, class level; enrollment status

How to Apply:

Submit FAFSA in early January each and every year

Interest Rates:

5% interest rate; Repayment begins 9 months after student ceases half-time enrollment


Federal Direct Parent PLUS Loan (see more below)

Loan Limits:

Up to the cost of education less any aid received

Who is Eligible:

Parents of dependent students. Must be half-time (ugrad:6 credit hours)

How to Apply:

Submit FAFSA in early January each and submit electronic PLUS request on StudentLoans.gov.  Applications for summer 2015 PLUS are available April 1, 2015.  Applications for fall/spring 2015-2016 and/or fall 2015 are available May 1, 2015.  Applications for spring 2016 are available in December 2015.  Visit www.studentloans.gov to apply and for rates on loans disbursed prior to 7/1/14.

Interest Rates:

7/1/15-6/30/16 Fixed interest rate of 6.84%

7/1/14-6/30/15 Fixed interest rate of 7.21%


Federal Direct PLUS for Graduate Students (see more below)

Loan Limits:

Cost of attendance minus other aid

Who is Eligible:

Graduate students, must be half-time (4 credit hours)

How to Apply:

Submit FAFSA in early January and submit electronic Graduate PLUS request on StudentLoans.gov

Interest Rates:

7/1/15-6/30/16 Fixed interest rate of 5.84%

7/1/14-6/30/15 Fixed interest rate of 7.21%

Visit www.studentloans.gov to apply and for rates on loans disbursed prior to 7/1/14

Entrance Loan Counseling

Entrance Loan Counseling for Federal Direct Loan borrowers

Entrance Loan Counseling is required for first-time borrowers (undergraduate and graduate) of a Federal Direct Loan. Entrance Loan Counseling provides information to help you make the right choices. The Department of Education has developed a quick and easy interactive counseling session that provides useful tips and tools to help you develop a budget for managing your educational expenses and help you to understand your loan responsibilities.

Find out more about Entrance Loan Counseling.

Note: If you satisfied the entrance counseling in a previous year, you do not need to complete entrance counseling again.

Entrance Loan Counseling for Graduate PLUS Borrowers

This information applies to Graduate students who have borrowed from the Graduate PLUS Loan Program.

The Graduate PLUS is a loan designed for graduate students who have reached their annual maximum eligibility for the Federal Direct Subsidized and Unsubsidized Loans. Entrance Loan Counseling is required for all Graduate PLUS loan borrowers. Entrance counseling will help you understand your rights and responsibilities as a student loan borrower. Graduate PLUS borrowers must complete Entrance Loan Counseling designed especially for graduate PLUS borrowers. 

Find out more about Entrance Loan Counseling.

Loan Proration Policy (Federal Direct Loans)

View Kent State's loan proration policy.

Federal regulations require that the annual maximum loan amount an undergraduate student may borrow must be prorated in certain situations:

  • When the student is enrolled in a program that is shorter than a full academic year. This regulation would apply to certain certificate programs that are shorter than a full academic year. The maximum loan amount would be determined by the number of weeks in the program.
  • When the student is enrolled in a program that is one academic year or more in length, but the remaining period of study is shorter than a full academic year. This regulation would apply to all students that will graduate in Summer or Fall semester. The maximum loan amount would be determined by the number of credit hours enrolled for the final semester.

Direct Loan Helpful Hints

  • Complete the FAFSA as soon as you can after January 1.
  • Watch for and review your Student Aid Report (you will get either a paper copy or email notification from the Department of Education).  The Department of Education will send you the FAFSA results via email or paper copy.  It is called the Student Aid Report.  You will want to review it to ensure your information is correct.
  • Follow directions on the award letter if you choose to adjust or cancel the loan
  • Accept/Decline your loan award(s) through FlashLine
  • Complete Entrance Loan Counseling
  • Sign the Electronic Master Promissory Note (eMPN) online. 
  • Learn more about electronically signing your Direct Loan MPN
  • Authorize Title IV aid to allow Bursar Office to credit your student account

Know Your Responsibilities as a Borrower of a Federal Direct Loan

  • Contact the servicer of your Direct Loan if you transfer from Kent State, drop below half time status, or there is a change in your name, permanent address, telephone, or email information. A servicer is a company that the Department of Education hires to handle the repayment process of your loans. To find you serivcer, visit www.NSLDS.ed.gov and log in using your FSA ID.
  • Maintain copies (either electronic or paper) of all documents related to your Direct Loan.
  • Borrow only what you need. Begin a budget and stick to it. 
  • Calculate your costs.
  • REPAY YOUR LOANS.

Federal Direct Parent PLUS Loan

Parents of dependent students are eligible to borrow funds under the Federal Direct PLUS Loan program.

The parent borrower may be the biological parent, adoptive parent, or the step-parent whose information is on the current year FAFSA. At Kent State University, all dependent students will receive an estimated Parent PLUS award amount listed on the Financial Aid Award Notification. 

  • 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 listed on the FAFSA during the year of the loan.
  • Parents who are interested in borrowing the Federal Direct Parent PLUS must complete the electronic PLUS request and PLUS Master Promissory Note (MPN) at studentloans.gov. The Department of Education FSA ID is required to sign in and request the PLUS.
  • Applications for fall/spring 2015-2016 and/or fall 2015 are available May 1, 2015.  Applications for spring 2016 are available in December 2015.  
  • Visit www.studentloans.gov to apply and for rates on loans disbursed prior to 7/1/14
  • Repayment for the PLUS generally begins 30 to 60 days after the funds are credited to the student account. Parents who desire the in-school deferment must contact the Direct Loan Servicer at 1-800-848-0979.

Additional Unsubsidized Based on Parent PLUS Denial

Parents who have been denied the Parent PLUS Loan based on credit may request their dependent students receive the Federal Direct Unsubsidized Loan. 

  • This request must be made on the electronic PLUS site
  • Eligible students can receive up to $4,000 unsubsidized for freshmen and sophomore years and up to $5,000 for junior and senior years. 
  • Students whose parents have been denied PLUS who have indicated they would like the student to receive additional unsubsidized loan offer in the event of a PLUS loan denial will be able to review FlashLine for additional eligibility based on a denied PLUS loan. 
  • The student will have to review the loan offer and accept or decline the loan via FlashLine.

Federal Direct PLUS Loan for Graduate Students

Graduate PLUS is a federal student loan designed for Graduate students who have reached their annual maximum for the Federal Direct Subsidized and Unsubsidized Loans.

To be eligible to receive a Grad PLUS loan the borrower must:

  • File the current year Free Application for Federal Student Aid (FAFSA)
  • Exhaust all eligibility for Federal Direct Subsidized and Unsubsidized loans ($20,500/yr or $138,500 lifetime limit)
  • Complete the Graduate PLUS electronic request at StudentLoans.gov
  • Pass a credit evaluation performed by the Department of Education
  • Have a signed MPN on file with the Department of Education.
  • Complete Entrance Loan Counseling for Graduate PLUS borrowers at StudentLoans.gov.
  • Be registered at least half-time (4 credit hours) during the loan period
  • Not be in default or have an overpayment on any Federal Title IV financial aid program

Alternative Loans

Financing a college education is a concern for many families. Most financial aid packages will include student loans; however, federal 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.  

Learn more about Alternative Loans