SPRING LOAN DISBURSEMENTS...
For Law Students are scheduled for January 13, 2003
For Stuart School Students are scheduled for March 3,
Update: Federal Regulation Change ~
As of September 30, 2002, Federal Regulations have required
Financial Aid Administrators to process any Federal Loans
for students that are for one term only in two
separate disbursements within that term. Please make a
note of the following disbursement schedules if you have
or will be applying for federal aid for one term only:
STUART SCHOOL OF BUSINESS:
1st disbursement - 11/18/02
2nd disbursement - 01/06/03
1st disbursement - 03/03/03
2nd disbursement - 04/07/03
1st disbursement - 01/13/03
2nd disbursement - 03/24/03
Financial Aid Deadlines:
In order to process financial financial aid for the specified
terms, students must have all the required documentation
completed and submitted to the Financial Aid Office by
the following dates:
Fall- December 16, 2002
Spring- May 15, 2003
Fall- November 11, 2002
Winter- February 14, 2003
Spring- May 9, 2003
Attention Graduates! It's that time again...time for
all graduating students who have applied for Federal Stafford
Loans to complete a mandatory Exit Interview. If
you were unable to attend last week's Exit Interview Sessions,
you may stop by the Financial Aid Office to pick up your
Borrower Loan Profile and complete an Exit Interview Form.
**Again, if you did not attend one of last week's
sessions, you still must complete an Exit Interview Form
or a hold will be placed on your account which will prevent
you from obtaining your diploma! You may complete an Exit
Interview online at www.kentlaw.edu/depts.finaid with
either lender listed.
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).
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).
If you are a student who is planning on
taking both Law and MBA Courses for the 2002-03 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 be disbursed.
Please be aware that if you are not
enrolled in law classes for a given term, then you are
not eligible to receive Chicago-Kent College of Law School
Scholarships (if awarded). Moreover, if you are not enrolled
in any MBA classes for a given term, then you will not
be eligible to receive a Stuart School of Business Scholarhips
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
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.
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.