Important information regarding 2012-13 financial aid at Kettering College...

Undergraduate Students

All new loans originated after July 1, 2012, will no longer be eligible for the rebate previously received on both the subsidized and unsubsidized loans.  A dependent student will see a reduction in their total student loans of $14 per semester.  An independent student will see a reduction in the amount of $24.

The Federal Pell Grant now has limits. Students will be eligible to receive only a total of 12 semesters of Pell Grant. Any student reaching or surpassing 12 semesters of Pell will no longer be eligible to receive it. The Department of Education will be notifying students that have reached their Pell eligibility sometime later this spring.

The interest rate for subsidized loans initiated after July 1, 2012, will increase to 6.8%. The interest on subsidized loans is paid by the government while the student is in school. Interest will not start accruing until after graduation. 

The interest rate for subsidized loans initiated after July 1, 2012 , will start accruing immediately after the student graduates, stops attending, or falls below 6 credit hours.

Graduate Students

All new loans originated after July 1, 2012, will no longer be eligible for the rebate previously received. 

After July 1, 2012, graduate students will no longer be eligible to receive the subsidized student loan. All loans awarded will be unsubsidized. Graduate students will still be eligible to apply for the graduate plus loan. Keep in mind that the graduate plus loan rebate also has been eliminated.