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SFA Events Display

 Keep up-to-date on all the latest news and events by checking back here. We will include both Kent State University information as well as outside information that may be of interest to you.

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Calendar of Events
SFA News was last updated on: 1/3/2014

This page is designed to give you the most up to date information and news available for Kent State Student Financial Aid.  For a list of recent FAQ's, click here.

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Additional Information
College Goal Sunday-Franklin Hall 2:00 pm  -  2/10/2014
Kent State University will host the state-wide college financial aid event "College Goal Sunday" (CGS) on February 9, 2014 at 2 p.m. at Franklin Hall on the Kent Campus. The free event, presented by the Ohio Association of Student Financial Aid Administrators (OASFAA) and endorsed by the Ohio Board of Regents, assists students and parents with completing the Free Application for Federal Student Aid (FAFSA). The FAFSA is the federal application that is required to receive federal financial aid including the Federal Pell Grant and student loans as well as the need-based state grants. Families are encouraged to register for the free event at www.ohiocollegegoalsunday.org or by calling 1-800-233-6734. While walk-ins are welcome, registration is encouraged.

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FAFSA Priority Processing Date  -  2/15/2014
Kent State University's priority processing date for completion of the 2014-2015 Free Application for Federal Student Aid (FAFSA) is February 15, 2014. Students are encouraged to complete the FAFSA online by this date to receive priority consideration for campus-based aid. The FAFSA application can be accessed online at www.fafsa.gov. Assistance completing the FAFSA is available by contacting the Student Financial Aid Office at (330) 672-2972. Visit the financial aid "News and Events" link for upcoming events to assist students with the completion of the FAFSA at the Kent Campus.

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SFA News Items

Direct Loan Origination Fee Changes   11/26/2013

As of October 1, 2013 the sequester increases the origination fees charged to Direct Loan borrowers. The new loan fee percentages will apply only with regard to loans where the first disbursement is made on or after December 1, 2013. The new loan fees are 1.072 percent for Direct Subsidized Loans and Direct Unsubsidized Loans and 4.288 percent for Direct PLUS Loans (both parent and graduate student PLUS Loans).

On November 25, 2013, any loan that is not disbursed will be cancelled and subject to the new loan origination fee. Students must meet minimum enrollment and eligibility requirements to receive a Direct Loan disbursement. For more information on Federal Direct Loans, visit http://www.kent.edu/financialaid/types/loan.cfm and scroll down to review Direct Loan requirements. If you no longer want to accept this loan, please contact the Student Financial Aid Office at (330) 672-2972 or finaid@kent.edu to cancel the loan.

Impact of Sequestration on Federal Aid Programs   10/15/2013

On August 2, 2011, Congress passed the Budget Control Act of 2011, which put into place automatic federal budget cuts, known as a "sequester," to take effect if Congress failed to enact legislation to reduce the federal deficit by March 1, 2013. Because Congress did not act, these budget cuts are now in effect. Below is link to a summary of the impact of these budget cuts on certain federal student aid programs. Direct Loan fees, TEACH Grant amounts and Iraq and Afghanistan Service Grants were impacted. Refer to the link below for more information.
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Interest Rate for new Direct Loans   8/12/2013

On Friday, August 9th, Congress passed and the President signed the Bipartisan Student Loan Certainty Act of 2013, which ties federal student loan interest rates to financial markets. Under this Act, interest rates will be determined each June for new loans being made for the upcoming award year, which runs from July 1 to the following June 30. Each loan will have a fixed interest rate for the life of the loan. Click on the link provided below for more information and interest rate details.
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New Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013   6/13/2013

In June of last year Congress passed legislation to extend the 3.4 percent interest rate on subsidized Stafford student loans for one year. The bill temporarily delayed the rate from doubling to 6.8 percent on July 1, 2012. To pay for part of the $6 billion cost of temporarily extending the 3.4 percent rate, lawmakers agreed to permanently limit eligibility for subsidized loans to 150 percent of the length of the student�s academic program. This new time limit on subsidized loan eligibility affects only fist -time borrowers of Direct Loans after July 1, 2013. First-time borrower are defined as students who have no outstanding balance of principal or interest on a Direct Loan or FFEL loan on July 1, 2013 OR a student who has never borrowed a Direct Loan prior to July 1, 2013.
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Important Federal Pell Grant Update   2/7/2012

The Consolidated Appropriations Act of 2012 reduced a student's duration of eligibility to receive Federal Pell Grant from 18 semesters (or its equivalent) to 12 semesters (or its equivalent). This provision applies to all Federal Pell Grant eligible students and is effective beginning with the 2012-13 award year. The calculation of the duration of a student's eligibility will include all years of the student's receipt of Federal Pell Grant funding. This new federal regulation will affect all Federal Pell Grant recipients and is not limited to the students who received their first Federal Pell Grant on or after the 2008-2009 award year.
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Federal Direct Loans - Graduate students 2012-2013   12/14/2011

Effective for loan periods after July 1, 2012, graduate and professional students will not be eligible for subsidized Federal Direct Loans. Graduate and professional students will continue to be eligible for subsidized loans for the summer 2012 loan period.

Be Wary of Scholarship & Financial Aid Scams   8/2/2006

Don�t let yourself become a victim of a scholarship scam. Be suspicious of any agency or organization indicating that you have been selected for an award or recognition and all you need to do is pay a membership fee to possibly win a scholarship. Remember: you should not have to pay more than a postage stamp to apply for or receive a scholarship. Another indication that a scholarship may be a fraud is that there is minimal or no contact information on the organization. Below are some links for more information about scholarship and financial aid scams and how to spot one.
http://www.finaid.org/scholarships/scams.phtml
http://www.fastweb.com/fastweb/resources/articles/index/104586?id=