Chicago-Kent home page Student portal Faculty portal Staff portal About The Record Current Record headlines Publication deadlines The Record archives

Office of Financial Aid

Office of Financial Aid home page

Week of January 18, 2016

Spring 2016 Disbursement Schedule & Step-by-Step Process

All loans funds for eligible students with completed financial aid files for the spring 2016 semester will be posted directly to the student’s account on the scheduled disbursement date: January 9, 2016.

Funds will be disbursed electronically to the student's tuition account. This is not the date you will receive a direct deposit refund for living expenses. For refund estimation times please contact the Student Account's Office at 312-567-3794 or email sa@iit.edu.

On the scheduled disbursement date, we must verify that you are eligible to receive the funds. This process can take 1-3 business days.

  1. The funds are then released and credited to your student account.
  2. If a credit balance exists from an excess in financial aid funds, the Student Account's Office will process your refund. If you have direct deposit set upyour refund will be deposited into your personal bank account, if not, it will be mailed (not held for pick up) by the Student Account's Office. The university encourages all students to sign up for direct deposit on the myIIT portal.

If you have any questions regarding the status of your refund check or charges on your account, please contact the Student Account's Office at 312-567-3794 or email sa@iit.edu.

If you have any questions regarding the financial aid funds that have been credited to your account, please contact the Office of Financial Aid at 312-906-5180 or email finaid@kentlaw.iit.edu stop by suite 230.

Spring 2016 Continuing Student Scholarships

Guaranteed renewable partial & Merit based scholarships will be posted accordingly on the scheduled disbursement date 1/9/16.

Full scholarships are initially based on your enrollment in the minimum number of credits required for the program (12 credits for day division and 6 credits for part-time/evening), and are adjusted to reflect actual semester enrollment as of the first day of class and again after the add/drop period. If you scholarship does not reflect you actual enrollment, please know that it will be adjusted by our office.

If you have any questions on your eligibility please contact the Admissions Office.

3L Students: Not eligible for courses over 87 credits

In order to receive federal financial aid at Chicago-Kent College of Law you must meet certain enrollment criteria. Students that do not meet these criteria are not eligible for federal financial aid. The enrollment criteria are as follows:

  • Be enrolled at least-half time in courses that count toward the 87 credits required for graduation.  Any credits taken above the 87 credits required for graduation are not eligible for federal financial aid.
  • According to the Registrar’s Office, at least half time enrollment is considered to be: 6 credits for fall and spring semester and 3 credits for the summer term. For more information about registration, see the Registrar’s Office.
  • If you plan to take between 6 and 11 credits, it is best to send your fall and spring enrollment intentions to our office via email. This will prevent delays of your disbursements and refunds. Once we receive your enrollment intentions, we will customize your cost of attendance budget to reflect your projected enrollment. It is best to let us know your enrollment intentions at least 3 weeks before classes start to ensure your financial aid is not delayed.

We understand that you may be close to graduation and not need as many credits as in past semesters. However, you must still demonstrate at least half time enrollment to maintain your federal financial aid eligibility. If you do not meet the enrollment criteria your options are make to payment arrangements with the Student Accounting Office or to apply for a private educational loan (tuition only).

Scholarship Eligibility

If you are taking less than the minimum credits required for your program and are in your last semester, your scholarship eligibility will be reviewed by the Admissions Office before it can be applied to your student account. Please contact the Office of Admissions for further confirmation.

1L Your Way: Please email your enrollment intentions to our office

If you are a 1L student and will be choosing the 1L Your Way course sequence option, it may effect your financial aid award. We just want to make you aware of this now so that you can budget your finances accordingly. Once you determine your spring schedule please notify our office by emailing us at finaid@kentlaw.iit.edu with your total anticipated enrollment credits for the spring semester.

Your financial aid may need to be adjusted as a result, and/or may not disburse to your student account until your enrollment options are confirmed.

Loan exit counseling: all 3L students

Congratulations on your upcoming graduation! All students that have applied to graduate, and have borrowed Federal Loans at the IIT Downtown Campus are required to complete Federal Student Loan Exit Counseling.

Students that have already attended the exit counseling group session or one-on-one appointment are to follow the instructions in their exit packets and complete step 2 of the exit requirement online. Students graduating in December that were not able to attend, please follow the instructions below. Students that are graduating in the spring and did not attend the group session are permitted to complete the requirement during the spring semester, after the in person loan exit counseling program to be held March 2016. More information to come.

1. Go to https://studentloans.gov to complete the Online Federal Loan Exit Counseling.
2. Click “Log In” to begin the process using your FSA ID.
• If you have not logged into a federal student aid website after May 10, 2015 you will need to create an FSA ID.
3. Select “Complete Exit Counseling” and Illinois Institute of Technology, Downtown Campus (001691-01) as your school.

The website will take you through the process one section at a time with questions to answer after each section. Once the online session is complete, electronic confirmation will be sent to our office fulfilling your Federal Loan Exit Counseling requirement. Please allow sometime for the requirement to show as cleared in your myIIT portal.

Enrolled less than half time in the spring semester? Please notify our office of your enrollment intentions and find out how it impacts your aid.

Students must be enrolled in at least 6 credit hours in order to be eligible for federal student aid. Your award will need to be revised if this impacts you. Students may choose to apply for a private loans if they are not enrolled at least half time. Please contact our office as soon as possible to determine how this may effect you. 

Bar study loan information

Bar Examination loans are intended to assist students in paying for bar preparation courses and meeting other financial needs while studying for the Bar Exam.

Students may submit the application for the Bar Exam Loan funds during their last year before graduation. The terms, conditions, and credit criteria for Bar Examination Loans are similar to those for alternative loan programs. Unfortunately, students with negative credit ratings are generally not eligible for Bar Exam loans.

To apply for a Bar Examination Loan, review the Bar Loan Information, on our website. Once you are approved, the lender will contact our office to certify your loan. The funds will be disbursed directly to you from the lender.

See our website or stop in the office for more information.

Don't Forget to Accept Your Awards

If you still have not accepted or declined your loans, please do so as soon as possible.  You must use your myIIT account to accept/decline your loans. If you do not accept your loans, we cannot process them. That is why we urge you to accept them now to avoid delays with disbursement. If you do not wish to wish to receive any of the funds, you may decline the loan(s) using the myIIT portal.

Please select one of the options below on the myIIT portal at: https://my.iit.edu/cp/home/displaylogin.

Accept: If you wish to receive any portion of the loans still listed as offered, you must accept the funds. Also, please be aware that you may be required to complete a Master Promissory Note and Loan Entrance Counseling with Direct Loans at studentloans.gov before the funds can be disbursed. Please refer to your 'Requirements' section on the myIIT portal, and see our website for more information about loan requirements.

Decline: If you do not wish to receive any of the funds still listed as offered please decline the loan(s) using your myIIT portal.

FAFSA Reminder

In order to qualify for financial aid you must complete a new Free Application For Federal Student Aid (FAFSA) each academic year. Is available for completion online after January 1st of each calendar year.

You can complete your FAFSA online at http://www.fafsa.ed.gov.  You will need need to log in using your FSA ID. If you do not have one you will be instructed to set one up on the website. Please remember to include our school code, E00773, when completing your FAFSA and keep in mind that the school name will be listed as Chicago-Kent College of Law. If you do not list our school code we will not be able to receive your FAFSA.

If you need help completing the FAFSA, the Department of Education provides several helpful resources with complete instructions, videos, and contact numbers. Additionally, if you have any questions please feel free to call the Office of Financial Aid at (312) 906-5180, or send an email to finaid@kentlaw.iit.edu.

Information for 2L Students

Q: It looks like my 2015-2016 financial aid package is a lot smaller than the financial aid package that I received as a first year law student, is this correct?

A: Yes, for most students this is correct and here are the reasons why:

  • A one-time lap top allowance is included in your first year Cost of Attendance (COA) budget. This line item is not included in the COA for continuing students.
  • As a first year JD student, your COA is based on a flat rate tuition charge. As a continuing student your initial COA is based on a per credit tuition charge. The tuition component of the COA is based on a minimum of 12 credits per term for full time and 6 credits for part time students.
  • Eligible continuing students are awarded Federal Work Study (FWS). It is a need based employment program that requires students to earn their award amount through work. FWS reduces the amount a student can borrow in federal student loans. If you do not plan on participating in the program and need additional funds you may email to request the amount be converted into additional loan funds.
  • If your current cost of attendance does not meet your financial requirements please send your fall and spring enrollment intentions, and if you are authorizing a FWS conversion, via email to the Office of Financial Aid. In your email, please specify the following in your email authorization request:
  1. Exact dollar amount that you need
  2. Number of credits that you intend to take in both semesters
  3. If you are declining FWS

Please note, the Office of Financial Aid cautions students against borrowing up to the Cost of Attendance limit.

Planning to Study Abroad?

In order to determine if your study abroad program/course is eligible to receive financial aid please stop by the Office of Financial Aid. If you've been granted permission to study abroad through Chicago-Kent College of Law and are borrowing educational student loans to meet your educational costs, please contact the Office of International Law and Policy and you will be provided an electronic application to complete via Google Docs. The financial aid process for the study abroad program can take 4 to 6 weeks.

If credit is approved by home school (Chicago-Kent), the student may be considered enrolled at the home school for financial aid purposes. You must still follow the same eligibility criteria as if you were taking classes at Chicago-Kent. You must complete a FAFSA, be enrolled at least half time, be degree seeking, and the credits must count toward the required credits required for graduation. Student registered in credits over the graduation requirement (87 credits) may not be eligible for federal financial aid for those credits. See the headline, "Information for 3L Students". Please be aware that your Cost of Attendance during your study abroad term will be based on the living expenses and tuition charges of the program, not the standard Chicago-Kent budget. Additonal fees may be charged by the program.

The Office of Financial Aid does not determine the Cost of Attendance for study abroad programs. For this reason, it is very crucial for each student to thoroughly research the programs charges and costs of living prior to their departure. It is the students responsibility to budget themselves until their financial aid is processed.

Planning to Visit Another Law School?

If you have been granted permission to study at another law school for credit toward your Chicago-Kent law degree and are borrowing educational loans to meet your educational costs, you must notify the Financial Aid Office as soon as possible. You must complete the Financial Aid Request Form to Visit Another Law School, if you wish to use federal student loans.

We will ask the host school's Financial Aid Office to complete a Consortium Agreement with cost of attendance amounts, and their Registar's Office to provide enrollment verification with dates of attendance, and credit hours.

Once we receive all the required documentation from the visiting school, we will finalize your financial aid award, and you can accept the loans you wish to borrow on the myIIT portal. The funds will be scheduled to disburse to your student account according to your enrollment period at the visiting school. If you are expecting a refund, the Student Accounting Office will process it. It is the student's responsibility to pay tuition at the visiting school. Please be sure that you have set up direct deposit of your refund.

The Office of Financial Aid does not determine the Cost of Attendance for host schools. For this reason, it is very crucial for each student to thoroughly research the host school's charges and costs of living prior to their departure. It is the students responsibility to budget themselves until their financial aid is processed.

NASFAA Financial Literacy Report

The Opportunities to Improve the Financial Capability and Financial Well-being of Postsecondary Students report describes current efforts to enhance financial education among students to help them make informed decisions about choosing where and how to finance postsecondary education, and to aid students in making sound financial decisions when enrolled and beyond. Key topics include:

  • Policies and resources to help students make decisions on college choice and financing;
  • Tools for navigating the college search and decision-making process;
  • Tools for navigating postsecondary education financing and repayment;
  • Financial decisions facing currently enrolled students and recent graduates;
  • Institutional efforts to improve the financial capability of enrolled students;
  • Recommendations and next steps for higher education institutions

Free Credit Report

Did you know that you are now able to receive a free credit report once every 12 months? We encourage students to review their credit reports annually to check for inaccuracies and identify any suspicious activity.

To receive your free credit report, please visit the following link: http://www.annualcreditreport.com. This central site allows you to request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.

Please be aware that other sites may advertise free credit reports, but this is the only site that is sponsored by the federal government and the three nationwide credit reporting agencies. Other sites may charge fees.

Financial Aid Contact Information

The Office of Financial Aid is dedicated to assisting students in financing their education and making financially informed and responsible decisions. Please feel free to contact our office at any time during the office hours listed below.

Normal 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

Email: finaid@kentlaw.iit.edu


 

CALENDARS

.: Main Chicago-Kent event
   calendar

.: Academic calendar

.: CLE calendar

.: Alumnae/i event calendar

.: Admissions calendar

Chicago-Kent home page Student portal Faculty portal Staff portal About The Record Current Record headlines Publication deadlines The Record archives