GET HELP PAYING FOR COLLEGE
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New options to help pay for college
Fall 2008 semester
Two recent changes to the federally guaranteed student loan program can help undergraduate K-State students meet educational costs for the 2008-2009 academic year.
Both changes will reduce the need for high-cost private student loans. The changes are part of the recently enacted Ensuring Continued Access to Student Loans Act (ECASLA) of 2008.
Increased loan amounts by $2,000 per academic year for typical undergraduates
The law increases unsubsidized federally guaranteed student loan eligibility by $2,000 for a typical undergraduate student per academic year.
To continue emphasizing responsible student loan borrowing, K-State will notify students enrolled for the fall 2008 term of this additional available assistance.
PLUS loan repayment after graduation
The law also introduced a new repayment option for parents of dependent students borrowing under the Federal Parent PLUS Loan program. Until now repayment on a Parent PLUS Loan typically began for the parent borrower 60 days after the loan had been disbursed.
The new repayment option will allow the parent borrower to begin repayment six months after the dependent student has ceased to be enrolled on at least a half-time basis (typically after the student has graduated). This repayment option is particularly beneficial because economic concerns are on everyone’s minds.
For more information
About financial assistance
Contact the Office of Student Financial Assistance