Debt Management Seminar
We will be holding a Debt Management Seminar on Tuesday,
October 22, 2002 from 12:00 noon to 1:00 p.m. in Room
170. This is an informational seminar that any student
may attend. Topics of discussion will include: loan repayment
options, managing student loans, and the importance of
maintaining good credit. The Financial Aid Office will
be closed from 12:00-1:00p.m. on Tuesday, October 22,
2002 for the Debt Management Seminar.
New Students: ENTRANCE INTERVIEWS
All new students who have applied for Federal Stafford
Loans MUST complete an Entrance Interview. You may complete
an entrance interview online at www.kentlaw.edu/depts/finaid.
You may complete the entrance interview with one of the
two lenders listed.
PERKINS LOAN RECIPIENTS
Perkins Loan promissory notes will be available beginning
the week of August 26 at the Office of Financial Aid.
Perkins Loan promissory notes must be completed each year
that a student is awarded a Perkins Loan. Please stop
by our office to pick up and complete your promissory
note. PLEASE NOTE: in order to ensure that you receive
your Perkins Loan, you must bring the address and phone
number of both of your parents (if available), the address
and phone number of two separate references, and the address
and phone number of your employer (if any).
Fall Loan Disbursements
LAW STUDENTS: Fall loan disbursements are scheduled for
BUSINESS STUDENTS: Fall loan disbursements are scheduled
for September 3.
NOTE: The Financial Aid Office will disburse all
loan funds equally among the terms you are enrolled in
as required by Federal Regulations unless a student is
graduating and will only be enrolled for one term!
Please keep in mind that we cannot guarantee the exact
date of disbursements.
Refund checks will be available approximately 5 business
days after the loan funds are credited to the student's
Please note that for the upcoming academic year, students
will receive Award Letters by both first-class mail and
e-mail. Students may access their Award Package at: https://webforsun.cns.iit.edu/ahomepg.htm
For the 2002/03 academic year, Federal Stafford loans
will be processed with the lender that you selected for
the current (2001/02) year and will be for the
amounts that are listed on each student's 2002/03
Award Letter. If you wish to select a different lender,
please notify the Financial Aid Office in writing (an
e-mail would suffice).
ALL STUDENTS -- Applying for Private Loans
PRIVATE LOAN PROCESSING FOR 2002-2003 (for
Summer and Fall-Spring): In order to receive a private
loan for Summer 2002 and/or Fall-Spring 2002-03, you must
apply for the loan directly with the lender of your choice.
You may apply for the loan(s) on-line by going to www.kentlaw.edu/depts/finaid
and clicking on "Applying for private loan 2002-03".
This will bring you to a lender chart where you may apply
directly with the lender of your choice when you click
on the hyperlink that will lead you to their website.
Or, you may pick up an application at our office or apply
over the phone (only with certain lenders). If you complete
a paper application, please turn it in to our office.
NOTE: If you apply online for a private loan, and
are approved for the loan after a credit history is completed,
please keep in mind that the lender will not begin the
certification process until they receive all the information
necessary in order to process the loan. In other words,
the lender will notify the Financial Aid Office only when
they receive your completed Application/Promissory Note.
Therefore, when calling the lender to check the status
of your loan, please confirm that the lender is not missing
any information or documentation in order to finish processing
Please keep the following in mind when
applying for a private loan: Summer 2002 is a separate
loan period from Fall-Spring 2002-03 and requires a separate
private loan application. Therefore, if you want private
loans for Summer and Fall-Spring, you need to apply
for two loans with your lender.
Also, before you apply, we suggest that you contact your
lender to find out the current terms fo their private
loan (such as interest rates, fees and repayment options),
because some lenders are still using the terms for 2001-02
and have not yet updated their systems with the new 2002-03
For the current (2001/02) academic year,
complete the 2001/2002 FAFSA. For the upcoming (2002/03)
academic year, complete the 2002/2003 FAFSA or
the 2002/2003 Renewal FAFSA.
Begin the federal financial aid application
process online using the Department of Education's FAFSA
on the Web. It's free, fast, easy and accurate!!
- Contact the Downtown Campus Office of Financial
Aid to find out about additional paperwork that may be
required to process your financial aid.
Illinois Institute of Technology- Downtown
Campus School Code: E00773
In order to complete your FAFSA online,
you must have a PIN number. In order to obtain a PIN number,
you may access the following website: www.eac.ed.gov
If you need help completing the Free
Application for Federal Student Aid (FAFSA), the Department
of Education provides this helpful site with complete
instructions, and phone numbers if you need more help:
Tax Benefits for Higher Education
Did you know that there are U.S. tax breaks if you plan
to go to college? Go to the following website to learn
about tax breaks for those either planning to go to college,
already in school, or for people who have graduated and
are paying back loans on their education: www.ed.gov/offices/OSFAP/
Exit interviews may be completed by visiting the following
Graduating students or students who have withrawn from
the school must complete Exit Counseling. Students who graduated
in December and have not received a Borrower Profile may
contact the Financial Aid Office.
You may obtain information about your outstanding federal
loans by visiting The National Student Loan Data System
(NSLDS). NSLDS is the U.S. Department of Education's central
database for student aid. NSLDS provides a centralized,
integrated view of Title IV loans that are tracked through
their entire cycle: www.nslds.ed.gov
Visiting Another Law School
If you are planning to visit another law school for any
term, and you would like to apply for financial aid, please
submit all of the required paperwork to ensure receiving
your disbursements in a timely manner. If you have
any questions regarding this process, please call the Office
of Financial Aid.
FINANCIAL AID FORMS FOR 2001-2002 ARE AVAILABLE
The following forms are available to download:
1. Chicago-Kent Study Abroad Financial Aid Request Form
2. Chicago-Kent Visiting Away at Another Law School Request
3. 2001-2002 Verification Worksheet
4. Student Worksheet A, B and C
5. Express Federal Loan Application
6. Express Alternative Loan Application
These forms can be downloaded from forms
If you are a student who is planning on taking
both Law and MBA Courses for the 2001-02 academic year,
please be advised that this may affect your financial aid.
Please call the Financial Aid Office at (312) 906-5180 and
schedule an appointment with a financial aid counselor so
we may give you a detailed breakdown of how your loans will
Private Loan Programs
Signature Loan Update:
Signature Loan from Bank One was originally one of our preferred
lenders listed on the 2001-02 Alternative Express Loan Application.
Please be advised that we have substituted Law Loans for
Signature Bank. The same terms still apply.
In addition, Saliie Mae is still the servicer for that particular
Promissory notes for Law Loans are available
in the Office of Financial Aid.
IIT Loan from IDAPP: If you chose
Illinois Institute of Technology as your private loan lender
for the 2001-02 academic year, you must also select Illinois
Institute of Technology as your preferred Federal Stafford
Loan lender, -OR- you must select a lender not on our preferred
lender list but who is an Illinois lender for your
Federal Stafford Loans. You can apply for this loan online
- If you want the school to initiate the process, you must
complete an Alternative Express Loan Application.
The Office of Financial Aid is open Monday
through Thursday, 8:30 AM to 6:00 PM and Friday, 8:30 AM
to 4:30 PM. We are located on the second floor in
Suite 230. Please feel free to stop in our office
during business hours or contact us at (312)906-5180 with
any concerns or questions you may have.