Summer Disbursement Dates:
will be disbursed in two disbursents for the summer
term - on 5/17/03 and on 6/25/03.
Private Loans will
be disbursed in one disbursement for the summer term -
Stuart School and Center for Law and Financial Markets:
Federal Loans will
be disbursed on 5/19/03 and on 6/26/03
Private Loans will
be disbursed once on 5/19/03
Master of Public Administration:
Federal Loans will
be disbursed on 6/2/03 and on 6/30/03
Please keep in mind that once the funds are credited
to students' accounts, it will take at least 5 to 7 business
days for any refund check will be processed (if student
has a credit balance).
**If you were not able to attend one of the
Exit Interview 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.
Graduating Students may pick up their Borrower Profiles
in the Financial Aid Office at the Downtown Campus.
For the 2003/04 academic year, Federal Stafford loans
will be processed with the lender that you selected for
the current (2002/03) year and will be for the
amounts that are listed on each student's 2003/04
Award Letter. If you wish to select a different lender,
please notify the Financial Aid Office in writing (an
e-mail would suffice), as you will need to complete a
new Master Promissory Note.
ALL STUDENTS -- Applying for Private Loans
PRIVATE LOAN PROCESSING FOR 2003-2004(for Summer
and Fall-Spring): In order to receive a private loan
for Summer 2003 and/or Fall-Spring 2003-04, 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.
You will see "Private Loan Comparison Chart"
in the "FORMS" box. 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.
Please keep the following in mind when applying for a
private loan: Summer 2003 is a separate loan period
from Fall-Spring 2003-04 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.
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
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 2002-03
and have not yet updated their systems with the new 2003-04
For the current (2002/03) academic year,
complete the 2002/2003 FAFSA. For the upcoming (2003/04)
academic year, complete the 2003/2004 FAFSA or
the 2003/2004 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:
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 this if you are eligible for Federal Stafford
Loans for the summer.
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
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
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
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.