Federal Loan Consolidation
In the coming months, we expect that students will
be hearing a lot about federal loan consolidation. In
fact, many of you have probably been contacted by consolidation
lenders urging you to consolidate before interest rates
are raised.
Please be aware that the interest rate on Federal
Stafford Loans, which is variable, can only be changed
by the federal government once a year on July 1. Therefore,
we urge you not to rush into loan consolidation before
knowing all of the facts. Do not be deceived by some
lenders who will try to convince that you must consolidate
right now.
That being said, we do expect the interest rate that
will be set on July 1 to be higher than the current
in-school rate of 2.77%. We encourage students who are
graduating this spring to attend one of the loan exit
counseling sessions listed below. A great deal of time
in the session will be spent on the topic of loan consolidation.
Some students who are not graduating may be eligible
for an in-school consolidation. If you are unsure whether
you are eligible, please contact our office at finaid@kentlaw.edu
or finaid@stuart.iit.edu. You are also welcome to attend
the loan exit counseling sessions even if you are not
graduating in Winter 2004 or Spring 2005.
Loan Exit Counseling for Winter & Spring
Graduates
If you borrowed Federal Stafford Loans
and you plan to graduate in Winter or Spring 2005, you
are required to complete Loan Exit Counseling. The counseling
session will provide you with information regarding loan
repayment and federal loan consolidation. The Office of
Financial Aid be hosting the following Loan Exit Counseling
sessions:
Tuesday, April 5th
12:00 to 2:00pm
5:30 to 7:00pm
Wednesday, April 6th
2:45 to 5:00pm
6:00 to 7:30pm
Please RSVP to the Office of Financial
Aid at finaid@kentlaw.edu.
2005-2006 FAFSA Priority Deadline
In order to qualify for federal financial
aid for 2005-2006, you must complete a Free Application
for Federal Student Aid (FAFSA) or Renewal FAFSA for 2005-2006.
In order to complete the 2005-2006 FAFSA you will need
to provide 2004 income and tax information, so we recommend
that you complete your 2004 tax returns before filing
your FAFSA.
You can complete your FAFSA or Renewal
FAFSA online at www.fafsa.ed.gov
Priority Deadline: April 15, 2005*
*Please keep in mind that the Perkins loan
is awarded on a first-come first-serve basis, so we encourage
students to file before March 1, 2005 in order to be elgible
for the Perkins loan.
REFUND CHECKS
Refund checks are generated by the Bursar's Office
and are available to be picked up at their office
(Room 290) approximately 5-7 business days after a
credit has resulted in a student's account. At this
point in the term, most financial aid funds have been
credited to students' accounts.
The Bursar's Office will send the student an
email when a refund check is available.
2004-2005 Disbursement Schedule
for Law School
Spring Disbursement: January 10, 2005
2004-2005 Disbursement Schedule
for Stuart School
Winter Disbursement: January 3, 2005
Spring Disbursement: March 28, 2005
Office Hours - Suite #230
Monday-Thursday ~ 8:30 a.m. to 6:00 p.m.
Friday ~ 8:30 a.m. to 4:30 p.m
Phone: (312) 906-5180 -
Fax: (312) 906-5274
|