Making KU affordable

Federal loans

Eligibility

Information provided on the FAFSA determines eligibility for the Federal Health Professions Student Loan (HPSL), Federal Loan for Disadvantaged Students (LDS), Federal Direct Loans (Subsidized and/or Unsubsidized), Federal Parent Loan for Undergraduate Students (PLUS), and Federal Graduate PLUS Loan.

To be considered for federal loans, you must meet the following eligibility requirements as well as federal aid eligibility criteria (individual programs may have additional requirements):

  • File the FAFSA
  • Be enrolled as a degree-seeking student (financial aid is typically not available for nondegree-seeking students)
  • Be enrolled in at least 6 credit hours as an undergraduate, pharmacy, or law student. (Graduate students may be eligible at less than 6 hours: see Graduate Studies policy).

To continue to receive a loan or be eligible for an in-school loan deferment, you must be enrolled in at least 6 hours each fall and spring semester. If you drop below 6 hours, your grace period and repayment schedule will begin.

Review the current Financial Aid Guide for details on award amounts and information regarding circumstances that may cause your aid to be adjusted or cancelled. If you withdraw from classes, you may be required to repay some or all of your aid. Review the Withdrawing and/or Dropping classes (PDF) publication for details.

All available loans:

Federal Graduate PLUS Loan
Deadline: not listed
Award: Cost of attendance minus any other financial aid received
Description:

Graduate PLUS loans are unsubsidized federal loans available to graduate/professional/law students with good credit who need loans in addition to their federal Stafford loans.

Application instructions:
  1. File the FAFSA. Deadlines for a particular semester may apply. Contact FAS for details.
  2. List the University of Kansas school code (#001948) on the FAFSA.
  3. Follow the steps outlined on the Application Process Checklist.
  4. Complete the Direct PLUS Loan Application for Graduate/Professional StudentsMore information and how to apply.
Federal Parent Loan for Undergraduate Students (PLUS)
Deadline: not listed
Award: Cost of attendance minus any other financial aid received
Description:

Federal PLUS loans allow parents with good credit to borrow funds to pay educational expenses for their child’s undergraduate education. Each child must be a degree-seeking, dependent, undergraduate student enrolled in at least six credit hours. The maximum amount a parent may borrow is the student’s Cost of Attendance, as determined by the University of Kansas, minus any other financial aid received by the student. PLUS loans at KU are processed through the Direct Loan Servicing Center (DLSC), a division of the U.S. Department of Education. Find information about interest rates and origination fees at studentaid.ed.gov/sa/types/loans/plus.

Application instructions:
  1. File the FAFSA. Deadlines for a particular semester may apply.
  2. List the University of Kansas school code (#001948) on the FAFSA.
  3. The student should accept the Parent PLUS Loan offered to them as part of their aid package in Enroll & Pay.
  4. Parents who want to request a PLUS loan must submit a request online at studentloans.gov. Under the Parent Borrowers tab, select "Apply for a PLUS Loan" and then log in using your FSA ID (the same information used to sign to the FAFSA).
  5. Parents should also complete the Loan Agreement for a PLUS Loan (MPN) at studentloans.gov under the Parent Borrowers tab.
  6. Parents who would like direct deposit of excess PLUS loan funds may complete the "Direct Deposit Authorization for Parent PLUS Loan Proceeds" form.
  7. Follow the steps outlined on the Application Process Checklist.

Frequently Asked Questions:

How is eligibility for a plus loan determined?

The Direct Loan Servicing Center (DLSC) conducts a credit check on each PLUS loan application. Generally, the parent borrower will be approved for a PLUS loan as long as the parent does not have an adverse credit history and is not in default on a federal student loan.

What options are available for those parents whose plus applications are denied for credit reasons?

If a parent is denied a PLUS loan, the parent has the option to apply with an endorser who would also be subject to a credit check. The parent may also appeal the credit decision. A third option is that the student is eligible to request additional unsubsidized federal loans of up to $4,000 or $5,000, depending on the student’s academic level, or up to the student’s Cost of Attendance.

How much can be requested?

The maximum amount a parent may request to borrow for a PLUS loan is equal to the amount of the student's Cost of Attendance minus any other aid the student has received. Please review anticipated expenses, determine the amount you want to borrow, and indicate the specific amount on the PLUS Loan Request.

Other than accrued interest, are there any fees associated with the loan?

Yes, there is a loan origination fee. The origination fee is a percentage of the amount of the loan and is deducted from the loan disbursement.

How will the loan be disbursed?

Approved loan funds will be applied directly to the student’s university account once the credit approval and electronic MPN acknowledgement are received. If the loan creates a credit balance and a Direct Deposit Authorization is on file, then funds will be electronically transferred to the parent’s authorized bank account. Otherwise, a refund check will be mailed to the address provided on the PLUS Loan Request form. A parent may complete and submit a form to FAS to have excess PLUS loan funds released to the student.

Why has the plus loan not applied to the student’s account?

There are several reasons why a PLUS loan may not disburse. The first step is to have the student check his/her ‘To Do List’ in Enroll & Pay at sa.ku.edu (Student Center > To Do List). If there are items on the ‘To Do List,’ the student will be able to determine what needs to be completed. The second step is to have the student confirm his/her enrollment status in Enroll & Pay at sa.ku.edu (Student Center > Accept/Decline Awards > applicable Aid Year). Go to Page 2 and make certain that all of the questions are answered correctly. If there are no items on the student’s ‘To Do List’ and all of the questions on Page 2 of the Award Package page were answered correctly, then the student should contact FAS for assistance.

When does repayment begin for plus loans?

You will automatically be assigned to the Standard Repayment Plan for each PLUS loan, beginning 60 days after the final disbursement. Parents have the option to apply to have PLUS loan payments deferred while the student is in school. To inquire about the request process for the deferment of your PLUS loan repayment, please visit studentloans.gov

What types of repayment plans are available?

There are three repayment options offered through the Direct Loan Program:

  • The Standard Repayment Plan requires monthly payments of at least $50 (payment amount varies depending on the amount borrowed) over a fixed period of time (maximum of 10 years). The Standard Repayment plan generally results in lower total interest paid since it has a shorter repayment period and a higher monthly payment requirement.
  • The Extended Repayment Plan requires monthly payments of at least $50 over a period of 12-30 years, depending on the amount borrowed.
  • The Graduated Repayment Plan enables a borrower to begin with low payments and increase monthly payments every two years over a period of 12-30 years, depending on the amount borrowed.

To estimate payments, you may access the Direct Loan Calculators and Interest Rates page at direct.ed.gov/calc.html.

For questions regarding the repayment of Federal Direct Loans, please visit studentloans.gov. Direct Loan borrowers will receive correspondence from the DLSC regarding quarterly interest accrual and repayment options.

Federal Health Professions Student Loan (HPSL) and Federal Loan for Disadvantaged Students (LDS)
Deadline: not listed
Award: Varies
Description:

HPSL and LDS are fixed-rate, low-interest, need-based federal loan programs only available to students in the PharmD program on the KU Lawrence campus.

Application instructions:
  1. File the FAFSA by March 1. This is a limited funded program, so students with completed financial aid files by March 1 will be given priority consideration.
  2. Include parent information on the FAFSA, regardless of your dependency status.
  3. List the University of Kansas school code (#001948) on the FAFSA.
  4. Follow the steps outlined on the Application Process Checklist.
The University of Kansas Endowment Association Loan Program
Deadline: not listed
Award: Please review the KUEA Loan Information Sheet for information about award amounts.
Description:

KU Endowment is an independent, nonprofit corporation serving as the official fund-raising and fund-management organization for the University of Kansas. Through the years, many KU alumni and friends have made gifts to KU Endowment for the purpose of providing low-interest loans to deserving students. The KUEA Loan program is a low-interest loan available to undergraduate and graduate/professional/law students.

Application instructions:

Apply online 

Federal Direct Loans (Subsidized and/or Unsubsidized)
Deadline: not listed
Award: Varies
Description:

Federal Direct Subsidized and Unsubsidized loans are educational loan programs that must be repaid, with interest, even if you do not complete your academic program.

Application instructions:
  1. File the FAFSA. Deadlines for a particular semester may apply. Contact FAS for details.
  2. List the University of Kansas school code (#001948) on the FAFSA.
  3. Follow the steps outlined on the Application Process Checklist.
Private/Alternative Loan Programs
Deadline: not listed
Award: Varies by lender
Description:

Private loans are funds from private lenders that help cover educational costs. You may want to consider a private loan if federal financial aid is not enough to cover your Cost of Attendance (COA).

Application instructions:

Many lenders offer private loans. While KU does not endorse any specific private lender, the Private/Alternative Loans Information Sheet includes lenders most frequently selected by KU students in the past year. We encourage you to research various lenders and select the one that best fits your needs. Do not complete a loan application until you have selected your lender. If the loan you select does not meet KU's school certification requirement or if you have already reached your maximum eligibility for financial aid, you will be notified.


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