Living and Learning 118|Page www.kutztown.edu/thekey Financial Aid Financial Aid Services is located in Stratton Administration Center 209. The telephone number is 610-683-4077. Financial aid is available to afford the student access and choice when considering post-secondary education. A basic principle of financial aid is the primary responsibility for educational costs must be assumed by the family, including the student. The family’s resources - both student’s and parents’ - are federally computed to calculate an index for determining eligibility for the financial aid programs. Aid from federal, state, private and institutional sources are used to assist in covering educational expenses to the extent that funds are available. Financial Aid Services’ major functions includes processing aid application information for the purpose of delivering federal and state aid to eligible students, administering institutional and private aid as well as counseling students. This assists in the University’s efforts to provide access and the recruitment and retention of students. The amount of financial aid is dependent upon the extent of the student’s need and availability of funds. Typically, aid is processed for the entire year, which consists of two semesters of 15 weeks for a total of 30 weeks of instruction time. Students seeking financial aid are required to submit the Free Application for Federal Student Aid (FAFSA). The FAFSA must be filed each year by our priority filing deadline of February 15 to be considered on time for all forms of aid. This process applies to both in-state and out-of-state students seeking consideration for all available aid from the institution. Students should also complete KU’s online scholarship application by March 1 which is available on the Financial Aid Office website. Student and Parent Loans The Financial Aid Office will automatically certify a Federal Direct Stafford Loan for students who complete a Free Application for Federal Student Aid (FAFSA). First-time borrowers or students who have not had Direct Stafford Loans before must go to studentaid.gov to (1) complete loan entrance counseling and (2) sign a master promissory note. The student will use their FAFSA FSA ID to electronically sign the master promissory note. Loan funds are delivered via EFT to the Office of Student Accounts at the beginning of each term. To decline the Stafford loan, the student must complete a Loan Change Form and return it to the Financial Aid Office. A loan cancelled for fall is automatically cancelled for the whole year. The Loan Change Form is available in the Financial Aid Office or online: • Go to www.kutztown.edu. • Click on “Current Students” link then click on the “Financial Aid” link. • On the Financial Aid Office’s website, click on the “Forms” link. Parents seeking to borrow the parent PLUS loan also apply at studentaid.gov. If a parent is denied a PLUS Loan, the student may be eligible to receive more unsubsidized Stafford Loan funds. Financial Aid Progress Requirements Continued aid eligibility for incumbent students requires maintaining financial aid progress toward a degree. This measure is both quantitative (completion rate based on credits) and qualitative (GPA) in nature.
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