Fall/Spring Financial Aid Checklist

Complete your FASFA NOW!

  • In addition to federal loans, private loans are another option. For more information on private loans use FASTChoice.

  • If you did not borrow up to your federal loan eligibility for the current ‘17/’18 academic year, you still have time to do so. On Flashline you can review if your Kent State student account is paid in full, as the loan money would be refunded to you and can help with your expenses for the NYC Studio.

Review your options for funding your semester in the Big Apple

  • Save as much money as you can from working. Set up a budget and stick to it.

  • Search for Kent State scholarships on the Student Financial Aid website.

  • Register on several of the external search engine sites for national database searches.

  • Federal Direct Loan eligibility: If you are a junior, $3750 would be for your NYC Studio semester. Independent students (based on the FAFSA results) would be eligible for another $2500 in Unsubsidized Direct Loan. **You must accept, reduce or decline (via Flashline) your Direct Loans.

  • Any other financial aid you are awarded.

Parent PLUS loan or Alternative/Private loan

  • The federally regulated Direct Parent PLUS loan is a loan a parent or step-parent borrows. The parent must pass a credit review and will enter repayment 60 days after the funds are fully disbursed, unless the deferment option is chosen. Direct Loans now offers a deferment for the Parent PLUS loan until after you either graduate or drop below half time. The borrower should receive information about that process. IF your parent does not pass the credit check, it allows you to borrow additional money in the Unsubsidized Direct Loan program OR your parent has the option to obtain an endorser or provide documentation to Direct Loans showing their credit issue(s) have been resolved. The Direct Parent PLUS loan interest rate can vary, for the current rate please visit the Student Financial Aid website. Independent students are not eligible to have a Parent PLUS loan.

  • The Alternative/Private loan is a loan the student borrows from a bank or lending institution. Lenders have their own rules for their loans. Some allow repayment after graduation, some have endorser release clauses. The loans are not federally regulated and the interest rate can vary or you may find a lender that caps the interest rate. Most students require a credit worthy co-signer, but it does not have to be a parent. The processing time has increased from previous years and may take up to 4 -6 weeks to process.

  • While you may apply for loans at any time, we suggest you complete the Housing Addendum and wait until your cost of attendance has been increased so there is room in your budget. Your account will be updated and you will be notified once your cost of attendance has been increased.

  • Information about both loans may be found on the Student Financial Aid website.

Prior to arriving in New York City

  • Plan on having 2-3 weeks of expenses with you as it does take time for the Bursar’s Office to process a refund (if you are expecting one).

  • If you have not already done so, set up direct deposit with the Bursar’s Office to expedite your refund. Go to FlashLine, Student Tools, Direct Deposit of Student Account Refunds and provide routing information.

  • If you are in NYC in January 2016, mark your calendar to complete the 16-17 FAFSA.
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