Student Financial Aid

Welcome!

The Department of Student Financial Aid is located on the third floor of the Student Center, Room 3007.  We are open from 8:00 am to 5:00 pm Monday through Friday.  Financial Aid information can be found on this website or by contacting our office directly.  Please see the Contact Us section for details.

Important Announcements:

• Temporary Elimination of Subsidized Subsidy
  Direct Subsidized loans will no longer be eligible for an interest subsidy during the six-month grace period. A new provision temporarily eliminates the interest subsidy provided during the six-month grace period for subsidized loans for which the first disbursement is made on or after July 1, 2012, and before July 1, 2014. This provision does not eliminate the interest subsidy while the borrower is in school or during eligible periods of deferment.

• Elimination of Federal Direct Subsidized Loan and Upfront Interest Rebates
  There are two important changes beginning in the 2012-2013 school year regarding your Federal Direct Loans. The recent bill passed in Congress to raise the debt ceiling affected some of the terms on Federal Direct Student Loan policies for 2012-13.

We recommend that students monitor their federal student loan borrowing history at www.nslds.ed.gov.

• Filing a Private Loan Complaint through Consumer Financial Protection Bureau (CFPB) Students are now able to file a complaint through CFPB if they are experiencing problems with their private loans. For more information about how to file a complaint visit our Alternative/ Private Loan page.

• Free Tax Help Available Nationwide - Free tax preparation sites are available nationwide through IRS tax assistance programs. These programs offer help to people who earn $50,000 and less and those 60 and older. Click here to read more.

• 1098-T Questions? Please visit: http://www2.kumc.edu/finance/student_fin_acct

• The Kansas Board of Regents State of Kansas Student Aid Application for the 2012-2013 academic year is now available. The electronic application will be available in early January 2012. F or information and instructions contact www.kansasregents.org. If you have questions about the application please call 785-296-3518 or email loldhamburns@ksbor.org.

• 2012-2013 FAFSA
  Please complete the FAFSA (Free Application for Federal Student Aid) if you are interested in receiving aid for Summer 2012, Fall 2012 or Spring 2013. Priority deadline is February 14th, 2012. You may complete the FAFSA before filing your taxes, and then make any needed corrections after filing. To fill out the FAFSA online click here. View this tutorial: Seven Easy Steps to the FAFSA if you are having trouble.

• Special Direct Consolidation Loan
  A new, temporary, Special Direct Consolidation Loan will be available beginning on January 17, 2012 until June 30, 2012.  Borrowers will be eligible for this Special Direct Consolidation Loan with a reduced interest rate, if they have at least one commercially-held Stafford Loan in grace, deferment (does not include in-school deferment), or repayment, as well as one Direct loan or ED-held Stafford loan.  A commercially held Stafford loan is one that is owned by a lender rather than the federal government.

  Borrowers will be contacted by the Department of Education if they are eligible.  Please read all correspondence you receive from the Department of Education to see if you are eligible for this loan.

  The interest rate for the commercially-held FFEL loans will be calculated by using a weighted average less a 0.25 percentage point reduction and borrowers will be eligible for another 0.25 percentage point reduction if the loan payment is set up for automatic payment.  This interest rate is below the interest rate for the traditional Direct Consolidation Loans.  Private loans, Perkins loans, HRSA's Title VII health professions student loans, and loans in default will not be eligible for this Special Direct Consolidation Loan program.

  To take advantage of the Special Direct Consolidation Loan program and the interest rate reductions, eligible borrowers must act by June 30, 2012.  For more information on the Special Direct Consolidation Loan, view the Department of Education's website at the following link:

  http://studentaid.ed.gov/PORTALSWebApp/students/english/specialconsolidation.jsp