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Federal Loans

Federal Direct Subsidized and Unsubsidized Loan Program

All Kent State University students who complete the FAFSA will be awarded the Federal Direct Loan based on the grade level. The Subsidized Direct Loan is awarded to students who demonstrate financial need. The Unsubsidized Direct Loan is awarded to students who do not demonstrate financial need. Interest will accrue on unsubsidized loans and will capitalize unless you choose to pay the interest while in school.

Annual Loan Limits

Dependent Student Maximum
$5,500 for freshmen*
$6,500 for sophomores*
$7,500 for juniors/seniors*
*Includes $2,000 unsubsidized

Independent Student Maximum
$9,500 for freshmen*
$10,500 for sophomores*
$12,500 for juniors/seniors*  

Interest Rates
7/1/12-6/30/13: Fixed Interest Rates of 3.4% for Subsidized and 6.8% for Unsubsidized

Federal Perkins Loan

Limited funding.  Students must submit a FAFSA to be eligible.  Based on financial need according to federal formual, class level, GPA, residency, enrollment status;

Annual Loan Limits
Varies.  Average award $2,000

Interest Rates
5% interest rate; Repayment begins 9 months after student ceases half-time enrollment.

Federal Direct Parent Plus

Parents of dependent students are eligible to borrow funds under the Federal Direct PLUS Loan program.  The parent borrower may be the biological parent, adoptive parent, or the step-parent whose information is on the current year FAFSA. At Kent State University, all dependent students will receive an estimated Parent PLUS award amount listed on the Financial Aid Award Notification. 

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