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Office of Financial Aid

March 15, 2021

Exit Counseling Requirements

All students who are set to graduate in the Spring 2021 semester, who have submitted an Application for Graduation and have borrowed Federal Loans at Chicago-Kent College of Law are required to complete Federal Student Loan Exit Counseling. If you have not borrowed federal student loans you do not need to complete this requirement.

The Federal Student Loan Exit Counseling requirement has two parts:

  • Attend a live, national Webinar
  • Complete an Online Exit Counseling session at studentaid.gov

Please email the Office of Financial Aid at finaid@kentlaw.iit.edu if you would like the information to enroll in a Webinar.

2021-2022 FAFSA Available October 1, 2020

Fall 2021, Spring 2022, and Summer 2022

In order to qualify for financial aid each upcoming academic year you must complete a Free Application for Federal Student Aid (FAFSA) each calendar year. The FAFSA is available to complete after October 1st of each year.

You can complete your FAFSA online athttps://www.fafsa.ed.gov.In order to apply you will need your FSA ID. Please remember to include our school code, E00773, when completing your FAFSA and keep in mind thatthe school name will be listed as Chicago-Kent College of Law.

The Department of Education has created a series ofYouTube videoscalled FAFSA: Apply for Aid for an easy to understand step-by-step guide to the FAFSA process. The links to each video are below:

2020-2021 FAFSA Still Available

Fall 2020, Spring 2021, and Summer 2021

You may still complete your 2020-2021 FAFSA online at https://www.fafsa.ed.gov. Please review the information provided in the paragraph above under the 2021-2022 FAFSA Available October 1, 2020 headline.

Securing Your Sensitive Documents

Encrypting or password protecting your files is a method of securing your information to ensure that only individuals with authorization are able to view and/or edit files. The Office of Financial Aid at Chicago-Kent now requires students to password protect any document emailed to our office that contains sensitive information. Examples of sensitive material may include a social security number, income tax information, or personal information found in a formal appeal. Please visit the Financial Aid Website for instructions on how to secure Word documents in Microsoft Word and PDF files in Adobe Acrobat.

Changes to Origination Fees

Origination Fees on Federal Direct Student Loans have changed as of October 1, 2020 and are effective through October 1, 2021.

Federal Direct Unsubsidized Loan Origination Fee: 1.057%
Federal Direct Graduate PLUS Loan Origination Fee: 4.228%

2020-2021 Financial Aid Awarding

Students will receive an award notification email for the 2020-2021 academic year if the 2020-2021 FAFSA has been received. It can take up to 2-3 weeks for your FAFSA to be processed by our office.

If you have been offered federal financial aid for the 2020-2021 academic year, you must accept the award(s) via your myIIT portal in order to receive your funds. You may accept all or a portion of the award(s) offered. If you do not wish to receive any of the offered awards, please decline the loan(s) via the myIIT portal.

Spring Full-Tuition and Honors Scholars: Now that the Add/Drop period has ended, adjustments to Full-Tuition and Honors Scholarships are now complete. We have revised your Spring 2021 scholarship based on the number of credit hours in which you are registered.

MPN and Entrance Requirements - First-time borrowers must complete an online loan agreement known as a Master Promissory Note (MPN) with Federal Student Aid at studentloans.gov. The MPN should be completed for each corresponding loan that you accept for the first time on your myIIT portal. In addition, first-time borrowers of federal student loans at Chicago-Kent College of Law are required to complete Loan Entrance Counseling online with Federal Student Aid at studentloans.gov. This is a one-time requirement for Chicago-Kent borrowers of federal financial aid.

Missing Requirements - You must have all missing requirements completed in order to receive your federal financial aid disbursements.

Disbursements and Refunds Your funds will be disbursed to your student account approximately 10 days before the start of classes as long as your financial aid file is complete and there are no outstanding requirements needed in order to process your federal student loans. The total amounts that you have accepted for the 2020-2021 academic year will be disbursed equally (in half) among the Fall and Spring semesters.  Once all financial aid awards have been applied to your student account, your tuition and fees will be deducted and if you have a credit balance, the Student Accounting Office will process a refund for you.  Please allow approximately 10 business days for your refund to be processed by Student Accounting.

Note to 3Ls: Financial Aid Eligibility for Credits Earned

As a friendly reminder, students are eligible for federal financial aid for credit hours earned in classes that are applicable to their degree. Students are not eligible for federal financial aid for earned credits exceeding the 87 selected as part of the JD program.

Financial Aid Contact Information

The Office of Financial Aid is currently working remotely. However, if you have questions, or if you would like to speak with a Financial Aid Counselor, feel free to contact our office at any time during the office hours listed below.

Suite #230 Office Hours: Monday Friday: 8:30am to 5:00pm

Phone: (312) 906-5180 - Fax: (312) 906-5274

Email: finaid@kentlaw.iit.edu

Please visit our website Office of Financial Aid Home Page for detailed information regarding the financial aid process.

 

 

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