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 Keep up-to-date on all the latest news and events by checking back here. We will include both Kent State University information as well as outside information that may be of interest to you.

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SFA News was last updated on: 2/11/2014

This page is designed to give you the most up to date information and news available for Kent State Student Financial Aid.  For a list of recent FAQ's, click here.

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SFA News Items

2013 Federal Tax Benefits for Education Guide   2/11/2014

There's great news for parents and students: the federal government provides a number of tax incentives that can help defray the cost of higher education. These incentives come in a couple of forms: Tax Credits, which directly reduce the amount of tax you are liable for; and Tax Deductions, which reduce the amount of income on which you pay taxes. The National Association of Financial Aid Administrators (NASFAA) provides an annual guide to federal tax benefits for higher education which gives you an overview of all the options that may be available to you.
Click here to go to a Website for more information

Tax Information for Students and Tax Benefits for Education   1/27/2014

Did you recently receive a 1098 T form in the mail or on your FlashLine account from the Bursar's Office or a 1098 E from Direct Loans and you are not sure how to interpret it? If you need help understanding tax treatment of financial aid or tax benefits for education the links below from the IRS will provide useful information. Tax information for students from the IRS
Tax information for parents from the IRS
Tax Benefits for Education Information Center

Direct Loan Origination Fee Changes   11/26/2013

As of October 1, 2013 the sequester increases the origination fees charged to Direct Loan borrowers. The new loan fee percentages will apply only with regard to loans where the first disbursement is made on or after December 1, 2013. The new loan fees are 1.072 percent for Direct Subsidized Loans and Direct Unsubsidized Loans and 4.288 percent for Direct PLUS Loans (both parent and graduate student PLUS Loans).

On November 25, 2013, any loan that is not disbursed will be cancelled and subject to the new loan origination fee. Students must meet minimum enrollment and eligibility requirements to receive a Direct Loan disbursement. For more information on Federal Direct Loans, visit http://www.kent.edu/financialaid/types/loan.cfm and scroll down to review Direct Loan requirements. If you no longer want to accept this loan, please contact the Student Financial Aid Office at (330) 672-2972 or finaid@kent.edu to cancel the loan.

Impact of Sequestration on Federal Aid Programs   10/15/2013

On August 2, 2011, Congress passed the Budget Control Act of 2011, which put into place automatic federal budget cuts, known as a "sequester," to take effect if Congress failed to enact legislation to reduce the federal deficit by March 1, 2013. Because Congress did not act, these budget cuts are now in effect. Below is link to a summary of the impact of these budget cuts on certain federal student aid programs. Direct Loan fees, TEACH Grant amounts and Iraq and Afghanistan Service Grants were impacted. Refer to the link below for more information.
Click here to go to a Website for more information

Interest Rate for new Direct Loans   8/12/2013

On Friday, August 9th, Congress passed and the President signed the Bipartisan Student Loan Certainty Act of 2013, which ties federal student loan interest rates to financial markets. Under this Act, interest rates will be determined each June for new loans being made for the upcoming award year, which runs from July 1 to the following June 30. Each loan will have a fixed interest rate for the life of the loan. Click on the link provided below for more information and interest rate details.
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New Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013   6/13/2013

In June of last year Congress passed legislation to extend the 3.4 percent interest rate on subsidized Stafford student loans for one year. The bill temporarily delayed the rate from doubling to 6.8 percent on July 1, 2012. To pay for part of the $6 billion cost of temporarily extending the 3.4 percent rate, lawmakers agreed to permanently limit eligibility for subsidized loans to 150 percent of the length of the student�s academic program. This new time limit on subsidized loan eligibility affects only fist -time borrowers of Direct Loans after July 1, 2013. First-time borrower are defined as students who have no outstanding balance of principal or interest on a Direct Loan or FFEL loan on July 1, 2013 OR a student who has never borrowed a Direct Loan prior to July 1, 2013.
Click here to go to a Website for more information

Important Federal Pell Grant Update   2/7/2012

The Consolidated Appropriations Act of 2012 reduced a student's duration of eligibility to receive Federal Pell Grant from 18 semesters (or its equivalent) to 12 semesters (or its equivalent). This provision applies to all Federal Pell Grant eligible students and is effective beginning with the 2012-13 award year. The calculation of the duration of a student's eligibility will include all years of the student's receipt of Federal Pell Grant funding. This new federal regulation will affect all Federal Pell Grant recipients and is not limited to the students who received their first Federal Pell Grant on or after the 2008-2009 award year.
Click here to go to a Website for more information

Federal Direct Loans - Graduate students 2012-2013   12/14/2011

Effective for loan periods after July 1, 2012, graduate and professional students will not be eligible for subsidized Federal Direct Loans. Graduate and professional students will continue to be eligible for subsidized loans for the summer 2012 loan period.

Be Wary of Scholarship & Financial Aid Scams   8/2/2006

Don�t let yourself become a victim of a scholarship scam. Be suspicious of any agency or organization indicating that you have been selected for an award or recognition and all you need to do is pay a membership fee to possibly win a scholarship. Remember: you should not have to pay more than a postage stamp to apply for or receive a scholarship. Another indication that a scholarship may be a fraud is that there is minimal or no contact information on the organization. Below are some links for more information about scholarship and financial aid scams and how to spot one.
http://www.finaid.org/scholarships/scams.phtml
http://www.fastweb.com/fastweb/resources/articles/index/104586?id=