Kansas Student Loan

College Loans for Kansas Students

Kansas students are qualified for several student loan options. USA Funds serves as the designated guarantor of federal education loans in Kansas. 

Types of Loans Available to Kansas Students

The Federal Family Education Loan Program, the largest federal student-aid program, offers three types of loans: Federal Stafford loans, Federal PLUS loans and Federal Consolidation loans to students.

Federal Stafford Loans

You may qualify for a Stafford loan if you:

• Are a U.S. citizen or eligible noncitizen (e.g. Green Card Holder).
• Have a high-school diploma or its equivalent, or you have been determined to have the ability to benefit.
• Plan to enroll at least half-time in a postsecondary institution that participates in the FFELP.
  Subsidized and Unsubsidized Stafford Loans

There are two types of Stafford loans:

Subsidized loans are available to students who meet certain financial-need criteria. If you qualify for this type of loan, the federal government will pay the interest on the loan while you are in school, during a six-month grace period after you leave school or fall below half-time enrollment, and during periods when you are authorized to defer your loan payments.

Unsubsidized loans are available to students regardless of their financial need. You are responsible for the interest that accumulates on an unsubsidized loan while you attend school, during the grace period and during any periods when you are authorized to defer your loan payments. You have the option to pay the interest during these periods or postpone payment. If  you postpone payment, the interest will be added to your principal balance. This addition of interest to your principal balance is known as capitalization.

Federal PLUS Loans

You may qualify to take out a PLUS loan if:

• You are the parent of a dependent undergraduate student.
• You are a graduate or professional student.
• You, or the dependent undergraduate student for whom you are taking out a PLUS loan, are enrolled at least half time at a postsecondary institution that participates in the FFELP.
• You — and in the case of a PLUS loan taken out by a parent, the dependent child for whom you are obtaining the loan — are U.S. citizens or eligible noncitizens.
• To qualify to borrow a PLUS loan, a parent must be the student’s birth parent, adoptive parent or stepparent, if the stepparent’s income and assets were taken into account when calculating the student’s Expected Family Contribution.
• The parent applying for the loan is responsible for repaying the loan.
• Parents may take out a PLUS loan for more than one dependent student at a time, although a separate Master Promissory Note is required for each student.
• PLUS loans are available without regard to financial need.
• The lender that issues a PLUS loan is required to verify that the borrower does not have an adverse-credit history.

Kansas Student Loan Consolidation

All federal student loans made to Kansas students may be eligible for consolidation.  The major requirement for loan consolidation is that the student must not have defaulted on a loan payment.    Students shall consult their lender to explore all loan consolidation options.