Lindsey Whitebread

resident student-hand stander extraordinaire

Class: 2010

Forensic Biology

"I came to Keystone because the forensic biology program has such a great reputation. I also like being in the country and Keystone fits that bill too!"

How to apply for...

For the FAFSA - apply on line at www.fafsa.ed.gov
For Student Loans - apply on line through AES
For Student Employment - apply through the Financial Assistance & Planning Office

Loans

Federal Stafford Student Loan

Stafford Student Loans are available to students enrolled at least half time (at least 6 credits) in their program of study. In order to determine eligibility for federal interest subsidy, all applicants must file the FAFSA. Additionally, a student must complete a Master Promissory Note (MPN) if they have never received a Stafford loan previously and the student must receive Entrance Loan Counseling. If you have financial need remaining after your EFC, the amount of any federal Pell Grant, the amount of any state grant assistance, and aid from all other sources are subtracted from your cost of attendance, you can borrow a "subsidized" Stafford Loan to cover some or all of the remaining need. If you are eligible for a subsidized loan, the government will pay the interest while you are in school, for the first six months after you leave school, and when you qualify to have your payments deferred.

Depending on your financial need, you may borrow subsidized loan money for up to the annual loan limit for your grade level in school.

You might also be able to borrow loan funds beyond your subsidized loan amount or even if you do not have any demonstrated need. Keystone College will subtract the total amount of your other aid, if any, from your cost of attendance to determine the amount for an unsubsidized loan. Unlike the subsidized loan, you are responsible for the interest from the time the unsubsidized loan is disbursed until it is paid in full. You can choose to pay the interest or allow it to accumulate and be capitalized (that is, added to the principle amount of your loan).

You can receive a subsidized loan and an unsubsidized loan for the same enrollment period as long as the loans do not exceed the annual loan limit or your cost of attendance.

Federal Stafford Loan

Annual Loan Limits are determined by grade level and if a student is dependent or independent. The loan limits listed below are effective for loans first disbursed on or after July 1, 2008:

Dependent Students (Except students whose parents are denied the Federal Parent PLUS Loan):

$5,500 for a Freshman (0 to 29 credits completed) at least $2,000 of this amount is unsubsidized
$6,500 for a Sophomore (30 to 59 credits completed) at least $2,000 of this amount is unsubsidized
$7,500 for a Junior and/or Senior (60 or more credits completed) at least $2,000 of this amount is unsubsidized

Independent Students (and dependent students whose parents are denied the Federal Parent PLUS Loan):

$9,500 for a Freshman (0 to 29 credits completed) at least $6,000 of this amount is unsubsidized
$10,500 for a Sophomore (30 to 59 credits completed) at least $6,000 of this amount is unsubsidized
$12,500 for a Junior and/or Senior (60 or more credits completed) at least $7,000 of this amount is unsubsidized

Loan proceeds are sent directly to the Student Business Services Office, Ward Hall 1st Floor, at Keystone College and will be credited to the student's account. Two disbursments will be made for each approved loan. (Example: 1st disbursement fall & 2nd disbursement spring and for those attending summer sessions there may be a 3rd disbursement). If the loan is disbursed by check, proceeds cannot be credited to the student's account until the student endorses the check (you will be notified by Student Business Services when the check arrives). Student's whose loan funds arrive EFT (Electronic Funds Transfer) will also be notified that a loan has been applied to the student's account by Student Business Services.

Undergraduate Aggregate Loan Limits (Maximum Loan Eligibility for Undergraduate Students)

The Undergraduate Aggregate Loan Limits effective July 1, 2008:

Undergraduate Dependent Students: $31,500 (no more than $23,000 of which can be subsidized)

Undergraduate Independent Students: $57,500 (no more than $23,000 of which can be subsidized)

For Current Interest Rates: click here

Federal Carl D. Perkins Loan

The Carl D. Perkins Loan is a low interest (5%) loan that is administered by Keystone College for students who demonstrate financial need. This loan is made through the Financial Assistance & Planning Office. Keystone College is the lender and the loan is made with federal funding. Any student awarded a Perkins loan must complete the required paperwork with Student Business Services prior to the funds being credited to the student's account. You must repay this loan. Repayment begins nine months after graduation, withdrawal, or change to less than half time status. Interest accrues in the student's name beginning in the tenth month after the student ceases to be enrolled on at least a half time basis. The maximum repayment schedule is ten years.

Federal Parent Loan (PLUS)

PLUS loans are available to parents of dependent students to meet educational costs. Through the PLUS program, parents may borrow the difference between a student's cost of attendance less any financial aid.

Eligibility for a PLUS loan is based on credit-worthiness of the parent borrower. The interest rate is fixed and will not exceed 9%. PLUS loan proceeds are sent in two disbursements and are made co-payable to the parent and the school. If the parent has authorized EFT, loan proceeds will be credited directly to the student account and the parent will be notified. If the funds are issued by check, the Student Business Services Office will contact the parent borrower for endorsement and then credit the funds to the student account.