Questions About Financial Aid

You must demonstrate financial need to receive a subsidized Direct Loan.  We will determine whether you qualify for this loan based on the results of your Free Application for Federal Student Aid (FAFSA).  The federal government pays the interest on a subsidized loan while you are in school (at least half-time) and during periods of grace and deferment.  You can qualify for unsubsidized loans regardless of financial need, but will have to pay all of the interest charges.  You have the option of allowing the interest to accrue until you enter repayment or making small interest payments quarterly to your direct loan servicer.

We are required to provide Entrance Counseling to all first-time student loan borrowers before we disburse a student loan.  Entrance Loan Counseling is an online tutorial that explains to you the necessity of repaying your direct loans along with the consequences if you fail to repay these loans.  Your loans will not be disbursed until you have completed Entrance Counseling.  You only complete Entrance Counseling once while attending Kettering College.   Entrance Counseling can be completed at studentaid.gov.

We are required to provide student loan borrowers with additional loan counseling before they graduate from school or at the time they drop below half-time (6 credit hours.)  During the semester prior to graduation, or at the time you drop below half-time,

you will be asked to complete online Exit Loan Counseling at studentaid.gov.   This counseling gives you the opportunity to review your options for repayment, your total loan balance, information about the repayment process, etc.  

For your loans to be disbursed, you must have:

• Registered for and be attending school at least half-time (6 credit hours)
• Completed your Master Promissory Note (MPN) at studentaid.gov, if this is the first year you have borrowed or if your current MPN has expired
• Completed Entrance Loan Counseling at studentaid.gov
• Waited 30 days into your first semester for new Kettering College borrowers
• Maintained satisfactory academic progress

If you have not completed one of the steps listed above, your loan will not be disbursed.  You must also have returned all other documentation requested by our office.

For your Perkins or Nursing Loan to be disbursed, you must complete the Perkins or Nursing Loan application and promissory note online.  You must be registered and attending at least half-time and maintain satisfactory academic progress.  You
must also have returned all other documentation requested by our office.

The most common reason preventing the Direct PLUS Loan from being disbursed is that the correct promissory note has not been completed online.  The PLUS Loan also may not have been disbursed because the credit check (which is performed by the loan origination center) has not been approved.  Please check with us if you have questions.

Alternative Loan funds are sent to our office via check.  Once we have verified that you are enrolled for the appropriate number of hours and are eligible for the funds, we will forward the check to the student accounts office.  This office will contact you to endorse
the alternative loan check.  Alternative loan funds are applied to your student account and if this creates a credit balance after any outstanding charges are subtracted, you may receive refund check from Kettering College on the next scheduled credit balance refund
release date.

To increase or reduce your Direct Loan amounts, you will need to contact us to determine if it is possible.  If it is possible, you will need to document your request in writing.

Your loan amount is based on your student status, where you are in your program of study, and the type of degree you are pursuing.  Dependent students cannot receive the additional Direct Loan amount even if the parent loan (PLUS) is declined.  The only
way you can receive an additional unsubsidized loan amount is if you are independent or your parents’ PLUS loan is denied due to an adverse credit check.

Your Direct Loan is based on where you are in your program of study and your dependency status. The following chart lists the combined annual and aggregate Direct Subsidized and Unsubsidized Loan limits:

The Annual and Aggregate Limits for Subsidized and Unsubsidized Loans

Year Dependent Students (except students whose parents are unable to obtain PLUS Loans) Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)

First-Year Undergraduate Annual Loan Limit $5,500—No more than $3,500 of this amount may be in subsidized loans. $9,500—No more than $3,500 of this amount may be in subsidized loans.

Second-Year Undergraduate Annual Loan Limit $6,500—No more than $4,500 of this amount may be in subsidized loans. $10,500—No more than $4,500 of this amount may be in subsidized loans.

Third-Year and Beyond  Undergraduate Annual Loan Limit $7,500—No more than $5,500 of this amount may be in subsidized loans. $12,500—No more than $5,500 of this amount may be in subsidized loans.

Graduate or Professional Students Annual Loan Limit Not Applicable (all graduate and professional students are considered independent) $20,500 (unsubsidized only)

Subsidized and Unsubsidized Aggregate Loan Limit $31,000—No more than $23,000 of this amount may be in subsidized loans. $57,500 for undergraduates—No more than $23,000 of this amount may be in subsidized loans.

$138,500 for graduate or professional students—No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.

* Notes:

• The aggregate loan limits include any Subsidized Federal Stafford Loans or Unsubsidized Federal Stafford Loans you may
  have previously received under the Federal Family Education Loan (FFEL) Program. As a result of legislation that took effect
  July 1, 2010, no further loans are being made under the FFEL Program.
• Effective for periods of enrollment beginning on or after July 1, 2012, graduate and professional students are no longer
  eligible to receive Direct Subsidized Loans. The $65,500 subsidized aggregate loan limit for graduate or professional
  students includes subsidized loans that a graduate or professional student may have received for periods of enrollment that
  began before July 1, 2012, or for prior undergraduate study.  
• If the total loan amount you receive over the course of your education reaches the aggregate loan limit, you are not eligible to
  receive additional loans. However, if you repay some of your loans to bring your outstanding loan debt below the aggregate
  loan limit, you could then borrow again, up to the amount of your remaining eligibility under the aggregate loan limit.

You must login to your Entrance Counseling session with your FSA ID.  If you do not remember your FSA ID, you will have the option of retrieving your username or password through your verified email address or by successfully answering your challenge questions.  You can retrieve your FSA ID at www.fsaid.ed.gov.  

Most financial aid that is awarded annually will be equally split in to two disbursements, one disbursement received per term.  If you are ready to graduate, you may have your final semester of financial aid disbursed differently.  Please contact us if you have questions. 

If you are a new student you will have your financial aid disbursed to your student account after the 30^th day of the first term in which you are enrolled, provided all necessary documents have been completed and/or submitted.

If you are a returning student and have received financial aid in previous semesters, you will have your aid disbursed to your student account after the 10^th business day of the term, provided all necessary documents have been completed and/or submitted.

A refund check may be issued to you when your financial aid is greater than your charges for that particular semester. For example, if a student has a Pell grant for $2,000 per semester and a subsidized Direct Loan for $1,733 per semester, the student’s total aid would be $3,733.  If that student’s charges for the semester total $3,045, the student would receive a refund check for $688.  All college charges are paid for with your financial aid including, but not limited to, room, cafeteria, and textbook costs before refund checks are issued.

To determine the amount of your refund check you should compare your Kettering College charges against your anticipated financial aid.  In most cases, this information can be accessed 24 hours a day online through the Student Portal.  Financial aid awards,student account balances, course registration information, grades, etc. can all be viewed through the Student Portal.

Typically, refund checks are available to returning students around the fourteenth day of the semester. A student attending Kettering College for the first time is required to be attending for thirty days prior to having loans credited to his/her student account.

To receive a refund check at that time, a student must be registered in the appropriate number of credit hours and have completed all necessary paperwork or online procedures.

Credit Balance Release Dates

Credit balance refund release dates will be determined prior to each semester. Students will also receive an email with the credit balance release dates sent to their Kettering College email account.

Winter 2021

Credit Balance Release Dates for Financial Aid in the Student’s Name

Financial aid paperwork = MPN & Entrance Counseling to be completed at www.studentaid.gov

January 29, 2021 – returning students only (all MPNs & Entrance Counseling must be submitted by 1/21/2021)

February 12, 2021 – new and returning students (all MPNs & Entrance Counseling must be submitted by 2/05/2021)

February 26, 2021 – all students (all MPNs & Entrance Counseling must be submitted by 2/19/2021)

March 12, 2021 – all students (all MPNs & Entrance Counseling must be submitted by 3/05/2021)

Credit Balance Release Dates for parent PLUS Loans (credit balance to be sent directly to parent)

February 5, 2021 – new and returning students (all MPNs must be submitted by 1/29/2021)

February 19, 2021 – all students (all MPNs must be submitted by 02/12/2021)

March 5, 2021 – all students (all MPNs & Entrance Counseling must be submitted by 2/26/2021)

March 12, 2021 – all students (all MPNs & Entrance Counseling must be submitted by 3/05/2021)

Schedule an appointment with Student Accounts to ask any questions you may have about your statement or balance.

Schedule Appointment

Loans

If you are a first-time loan borrower, for your loan to be disbursed, you must have  completed Entrance Counseling and your Master Promissory Note (MPN).  Students can complete both online at studentaid.gov.   If you have received loans previously at Kettering College and your loan was not disbursed this term, you may need to complete additional paperwork.  Please check with us if you have any questions.  You must be enrolled at least half-time (6 credit hours) to receive student loans.

Grants

If your grants aren’t disbursed, you may need to submit additional paperwork or you may not be enrolled in the minimum number of hours required to receive grants (6 hours).  Please check with us if you have any questions.  Keep in mind that the Pell Grant and Ohio College Opportunity Grant will be pro-rated if you attend between 6-11 hours.

Nothing will happen to your financial aid at this particular time.  Your charges will not be reduced and you will be paying for the original number of hours you were enrolled for in that term.  This may affect your Satisfactory Academic Progress (SAP) for Financial Aid at the end of the semester.  Please check with us if you are unsure of the impact dropping a course will have to your SAP calculation.

If you withdraw during the first 60% of the semester, your financial aid may be adjusted depending on the Federal Refund Calculation.  This is a calculation that is processed by the financial aid office.  We will review what charges you are responsible for and what financial aid you are eligible to receive at the time of your withdrawal.  Your financial aid may be reduced or even canceled based on this process and you may end up owing a balance to the institution.  You will be notified of the outcome of this process through an email notifying you to check your student account balance online.  You will be able to see if any tuition was credited and/or financial aid reduced or removed from your student account.  It may take several weeks for this process to be finalized.

An overaward occurs when your need-based financial aid exceeds your calculated need or all financial aid exceeds your cost of attendance.  Financial aid is designed to help you pay only expenses associated with financing your education and not exceed that cost.  Changes in the following areas can cause an overaward situation:

• Housing plans
• Enrollment status (number of credit hours)
• FAFSA information
• Student type (non-degree, certificate, degree-seeking, etc.)
• Satisfactory Academic Progress status
• Additional financial aid awards or resources

If you are in an overaward situation, we will modify your award as necessary and send you a notification.

Each year you are required to complete the Free Application for Federal Student Aid (FAFSA).  The FAFSA reflects the prior year’s tax information.  As your or your parent’s income and asset information changes from year to year, your financial aid eligibility may change.  In addition, your aid can be affected by changes in funding received by Kettering College at the federal, state, or institution levels. 

Another factor could be the time you filed your FAFSA.  If you meet the priority deadline of March 31^st, you are considered for all financial aid available at Kettering College.  If you filed by the deadline in a previous year and filed after the deadline this year, you may not have been offered certain grants and loans that you previously received.

Your award package can include merit scholarships, federal and state grants, employment, and loan assistance.  Not all students receive all types of financial aid.  Regardless, your total financial aid package cannot exceed your total cost of attendance.  The government also sets maximum limits on grants, loans, etc. that you are eligible to receive. 

If you meet the March 31^st priority deadline, you may receive a more attractive award package than if you apply later.  If additional financial aid becomes available throughout the award year, we award that financial aid to the applicants demonstrating the most need as determined by the FAFSA.

Your financial need is determined by using the Expected Family Contribution (EFC) derived from the Free Application for Federal Student Aid (FAFSA).  The EFC takes into account the number of family members in the student’s household and the number of people in college.  Your income and assets are also considered when calculating the EFC.  If you are a dependent, your parent’s income and assets are also considered. 

Every student has a student budget (or cost of attendance) as determine by us.  A typical off-campus student budget is $31,116.  If the student has an EFC of 6,000, we would subtract the 6,000 from $31,116 to determine the student’s financial need of $25,116.  This means the student cannot have more than $25,116 in need-based financial aid.  It does not guarantee that the student will receive that amount in need-based aid.
Need-based aid consists of grants, scholarships, tuition waivers or sponsorships, Federal Work Study, Perkins Loans, Nursing Loans, and subsidized loans.  The remaining $6,000 (the EFC amount) in the student’s budget may be covered by non- need-based resources, such as the Parent Loan (PLUS), unsubsidized loan, or private Alternative Loan, depending on the student’s eligibility.

We use the results of the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for need-based federal and institutional financial aid.  Although there is no maximum income limit for financial aid, students with a lower Expected Family Contribution (EFC) are typically eligible for more financial aid resources than students whose EFC is higher.  The governing agency of the state has a separate formula for determining a student’s eligibility for state grants.  Please check the National Association of State Student Grant & Aid Programs.

If you meet the priority deadline of March 31^st, you are sent an award letter by June 1 of each year.  Award letters are sent out continually throughout the year for applicants who do not meet the priority deadline of March 31^st.  All eligible applicants who complete
the FAFSA and are admitted to the college will receive an award letter within approximately one month of having your financial aid file complete.

To receive Title IV Federal Aid (Federal Pell Grant, Federal Direct Student Loan, Federal Work Study, Federal Perkins Loan, or National Nursing Loan) a you must meet the following requirements: 

• Be a U.S. citizen, a national, or permanent resident of the
  U.S.
• Or be in the U.S. for other than temporary purpose
• Comply with the U.S. Selective Service registration requirements
• Be enrolled in a degree program
• Be making Satisfactory Academic Progress for Financial Aid as defined by Kettering College
• Not be in default on a federal loan
• Not owe a repayment on any Title IV funds
• Have a valid Social Security Number. 

* Note: Some types of financial aid are not available if you have already received a bachelor’s degree.

Federal and state financial assistance is only available to citizens of the United States and eligible non-citizens.  Please review the information available at studentaid.ed.gov for assistance in determining international financial aid eligibility.  An eligible non-citizen is someone who is a U.S. permanent resident and has an Alien Registration Receipt Card (I-551), a conditional permanent resident (I-551C), or another eligible non-citizen with an Arrival-Departure Record (I-94) showing any one of the following designations:
“Refugee,” “Asylum Granted,” “Indefinite Parole,” “Humanitarian Parole,” or “Cuban-Haitian Entrant.”  If you are in the U.S. on an F1 or F2 student visa, or a J1 or J2 exchange visitor visa, or a G series visa you are not considered eligible for federal or state financial aid.

Financial aid offers can be different from one institution to another for many reasons.  Some types of financial aid are awarded based on criteria established by the institution, such as institutional financial aid.  Funding for some federal programs is limited.  Institutions receive an allocation, or set amount, for each of the campus based aid programs (Federal Work Study, Federal Perkins Loan, and National Nursing Loan) from the federal government. 

Because schools receive different allocation amounts, institutions will have different rules and methods for awarding their limited allocation of  funds.  Institutions also have different costs of attendance, which can change a student’s eligibility for need based financial aid offered from one institution to the next.

If you wish to transfer to Kettering College, you need to add Kettering College’s school code (007035) to your Free Application for Federal Student Aid (FAFSA).  You can do this at fafsa.ed.gov.  Click on “add a school” and log in.  You will need your Federal Student Aid PIN to add a new school code.  We will receive your FAFSA results approximately 3-5 days later.  You will also need to submit a Kettering College Financial Aid Application to the financial aid office.  We will not be able to process the results of your FAFSA until you have been admitted to Kettering College.  Once admitted we will begin the process of determining your financial aid eligibility.  We will take into consideration the financial aid you received at your previous college in this process.

To receive the full amount of your Pell Grant and Ohio College Opportunity Grant, you must be enrolled in at least 12 credit hours.  Both grants will be prorated for less than full-time attendance.  If you are enrolled for less than half-time (6 hours), you will not be eligible for financial aid. Federal loans are available to eligible students enrolled at least half-time.

They may have a different Expected Family Contribution (EFC) than you because it is comprised of your parental contribution and your contribution.  You and your sibling should have the same parental contribution, but your student contribution will differ because of your individual earnings and assets. 

Your aid may also be different because schools distribute the funds they are given by the U.S. Department of Education differently.  Each school has a different allocation of
Federal Perkins Loan, National Nursing Loan, and Federal Work-Study funds.  Given the nature of these allocations, you may receive an award at one school and not another.  Schools also have various institutional funds that are only available at that particular institution.  These funds are limited and distributed by college policies. 

To apply for federal, state, and institutional financial aid, you must complete the Free Application for Federal Student Aid (FAFSA).  This form can be completed online at fafsa.ed.gov.  You will be asked to supply your tax information from the previous year and, if you are dependent, your parent’s tax information.  If your parents are married, you must supply information for both of them. If they are divorced, you should provide information for the parent who provides you with the most support.  If your supporting parent is remarried, you must also include your stepparent’s information.

The FAFSA should be completed no later than mid-February (to meet the priority deadline) the year you plan on attending school. If you don’t meet the mid-February completion date, you can still apply throughout the year you just may not receive the most optimal financial aid package.

You and your parents can file the FAFSA before filing your federal tax forms.  You should use estimated income and tax information.  Your information must be updated after your taxes are filed.  It is strongly suggested that students and/or parents use the IRS Data Retrieval Tool to efficiently complete or update your FAFSA with your filed federal tax information.  The Data Retrieval Tool allows students and parents to access their IRS tax return information needed to complete the FAFSA, and transfer the data directly in to their FAFSA from the IRS website.  In most cases, the IRS Data Retrieval Tool is available within 2-3 weeks after the return has been accepted by the IRS if the tax return is filed electronically.  The Data Retrieval Tool is available for paper tax return filers approximately 8-11 weeks after the tax return is accepted.

When filing the FAFSA you should list Kettering College’s school code of 007035.  This will ensure that we receive the results of your FAFSA and process your financial aid according to your eligibility.  You should complete the FAFSA prior to each year you plan to be enrolled.  Allow plenty of time for processing the FAFSA as it can take several weeks to process.

Kettering College must receive the results of your Free Application for Federal Student Aid (FAFSA) by our priority deadline of March 31^st each year for you to be considered for all available financial aid. Please see the “Financial Aid Timeline and Checklist” for a detailed explanation.

The Student Aid Report (SAR) is a report of the information you provided on the Free Application for Federal Student Aid (FAFSA).  You should carefully review this information for accuracy.  If you find incorrect information or you originally estimated information and need to report actual figures, you will need to make corrections.  Please contact us if you are  unsure how to go about making the necessary corrections.

To be considered an independent student when completing the Free Application for Federal Student Aid (FAFSA) you must meet one of the following criteria: 

• Be 24 years old by January 1^st prior to the school year for which you are applying
• Be married at the time you are filing the FAFSA
• Have a child or other legal dependents for whom you, personally, provide more than 50% of the support and can document that support
• Be working on a master’s or doctorate degree at the beginning of the school year
• Be currently serving on active duty in the U.S. Armed Forces
• Both biological parents are deceased and you are considered an orphan
• Be a documented ward of the court
• Be a court-determined emancipated minor or in a legal guardianship
• Be determined to be an unaccompanied youth who was homeless and self-supporting

Please refer to fafsa.ed.gov for additional dependency classification details.

There is a dependency appeal process.  However, only appeals with well-documented parental estrangement are approved. Being financially independent of your parents does not allow you to be independent for financial aid purposes.  The financial aid
office can provide details regarding the process to appeal your dependency status.

Yes, but we are not part of the yellow ribbon program. Contact Melissa.Franklin@kc.lionandpanda.com for more details.

Please see Financial Information for Students on our website for current tuition and fees expenses, as well as Residence Hall costs.

Verification is a process that all colleges receiving federal aid are required to complete on students who have been flagged by the U.S. Department of Education.  If flagged, you must complete verification in order to be eligible for need-based financial aid.  The verification process is completed by submitting various documents to the financial aid office that are used to verify that information you reported on the FAFSA is correct.  We will compare the information on the documents against the information reported on the Free Application for Federal Student Aid (FAFSA).  This is not done to find fraudulent FAFSA applicants, but to find and correct common mistakes made by parents and students.  If an error is found, we make a correction to your FAFSA information and resubmit the information. Schools are required to complete the verification process on 30% of their student population.

The Central Processing Systems (CPS) selects students for verification using pre-set criteria.  The information printed on your Student Aid Report (SAR) will indicate if you have been selected for verification.  There are various items reported on the FAFSA that the U.S. Department of Education has determined schools must verify.  Each student’s verification process is unique; therefore, the documentation required for submission will vary from student to student.  We will notify you shortly after we receive the results of your FAFSA letting you know exactly what information we need from you.

If you have been selected for verification, you must return all required documents for that process.  If you refuse to complete verification, you will not be eligible for any need-based financial aid.

We will send you a letter telling you what information we need.  Once we have received all the required documents, we will compare the documented information to your FAFSA.  If the information is correct, verification is complete and your aid will be awarded. 

If we need to make corrections to your FAFSA, it will take approximately a week
to receive the corrections back from the Central Processing Systems (CPS).  At that time, we will complete verification and your aid will be awarded.

Please contact us in the financial aid office to explain your circumstances.  If your (or your family’s) income for the current tax year will be significantly less than the income your reported on your FAFSA, you may be eligible to have a change of income.  This allows us to use a documented estimate of your current year income to re-evaluate your eligibility. 

We take special circumstances into consideration such as involuntary loss of employment, death of a wage earner, unusually high medical or dental expenses paid out of pocket, etc.   We do not take into consideration voluntary loss of employment due to returning
to school.  Even if changes are made to your eligibility, additional aid is not guaranteed.

In cases of divorce, you should contact us in the financial aid office to request a change of income.  A written request, along with the documentation must be submitted so our office can re-evaluate your financial situation and possibly adjust your financial aid eligibility.  Even if changes are made to your eligibility, additional aid is not guaranteed.

Generally, a request to change income or to take other special circumstances in to account takes three to four weeks to process.  At times, our office may experience a higher volume of requests (often during the summer months), so the process may take longer.  Make sure you are attentive to any correspondence regarding additional documentation needed to process your request.

The first step in requesting a change of income or a change in marital status is to contact us in the financial aid office.  A written request will be required, however, different documentation will be necessary for different situations. 

Yes, if you have completed the financial aid process and been awarded federal financial aid, you may elect to use your financial aid to purchase books, uniforms, supplies, and equipment before their financial aid is applied to your student account.

Supplies and equipment are available to purchase on campus at the Kettering Medical Center Gift shop, located near the main entrance of the hospital.  You may use your student ID to have purchases charged to your student account while waiting on your financial aid to be credited.

Books may be purchased online through eCampus.  You will use book voucher information that is supplied by eCampus to purchase books. The voucher login will be emailed by eCampus prior to each semester.

Uniforms, may be purchased online through www.kcollegeuniforms.com using
voucher information emailed to you by Kettering College.  The voucher information will be sent upon registering for the first semester in a clinical program. Click here for instructions on how to order uniforms.

Only students who have been awarded federal financial aid, or have 3^rd party funding that covers books and/or uniforms will receive vouchers.

Any balance not covered by financial aid may be paid off throughout the semester.  Please keep in mind that your account balance must be below $100 for you to register for the next semester.   For additional information, please see the Online Bookstore/Uniform Store on our website.

If you are a first-time student loan borrower, you may complete your Master Promissory Note and Entrance Counseling at www.studentaid.gov.

Please contact Advocate Services at 1-800-557-7394 to resolve any issues with the website and/or completion of the MPN & Entrance Counseling.

Remember, this is for first-time loan borrowers only.

If your parent is a first-time Parent PLUS loan borrower, they can complete the Parent Plus Master Promissory Note at www.studentaid.gov.

Please contact Advocate Services at 1-800-557-7394 to resolve any issues with the website and/or completion of the MPN & Entrance Counseling.

Remember, this is for first-time loan borrowers only.

If you are a graduate student borrowing the Graduate PLUS loan for the first time, you can complete the Graduate PLUS Master Promissory Note and graduate Entrance Counseling at www.studentaid.gov.

Please contact Advocate Services at 1-800-557-7394 to resolve any issues with the website and/or completion of the MPN & Entrance Counseling.

Remember, this is for first-time loan borrowers only.