The unsubsidized loan is NOT based on financial need. The student is responsible for paying the interest, which begins accruing as soon as the loan is disbursed. There is a 6 month grace period after graduation or dropping below half-time before repayment is required. The unsubsidized loan DOES accrue interest while the student is in school. Students can make interest payments or let the interest capitalize.
Deadline: Apply during the current academic year
First time borrowers at KUMC must complete the online entrance counseling at www.studentloans.gov
|July 1, 2006 - June 30, 2013||6.8%||6.8%|
|July 1, 2013 - June 30, 2014||3.86%||5.41%|
|July 1, 2014 - June 30, 2015||4.66%||6.21%|
|July 1, 2015 - June 30, 2016||4.29%||5.84%|
Loan Origination Fees:
Beginning October 1st, 2014, Federal Direct Lending will deduct a 1.073% origination fee on any new Federal Direct Subsidized and Unsubsidized Loans. For loans first disbursed after October 1, 2015 a 1.068% origination fee will be deducted by Federal Direct Lending.
Does the unsubsidized loan have to be repaid? Yes. Repayment begins 6 months after graduation or dropping below half-time.
Need based: No
Enrollment: Must be enrolled at least half-time. For specific information on undergraduate and graduate enrollment please read KUMC's Enrollment Information.
Please contact our office at 913-588-5170 for more information or email us at firstname.lastname@example.org.