Student Loan Information 

Important Announcement: Financial Aid Changes For 2009-2010

Wichita State University recently researched and compared two student loan programs for our students, the Federal Family Educational Loan Program and the Federal Direct Student Loan program. WSU is currently participating in the FFELP program for the Stafford and PLUS loan programs and has been since the inception of those programs.

Beginning with the Fall 2009 semester, Wichita State University will participate exclusively in the Federal Direct Stafford and PLUS loan programs. The decision was based on the unstable outlook for private lenders and their untimely withdrawal from the FFELP loan program. Click here for additional information regarding the switch to the Federal Direct Stafford loan program.

Due to current participation in the FFEL Program, ALL students, both continuing and first time, must complete new MPN (Master Promissory Notes) with the Federal Direct Loan program in order to receive Stafford or PLUS loan funds. The MPN may be completed online at https://dlenote.ed.gov/empn/index.jsp.

Funds for the Direct Stafford and PLUS loan program come directly from the Federal Treasury and will assure continued loan access for WSU students. Origination fees of 1.5% for Direct Stafford Loans and 4% for Direct PLUS loans will be charged to all borrowers. An up-front interest rebate of 1.0% is offered for borrowers of Stafford loans and 1.5% for PLUS loans as a repayment incentive. In order to keep the up-front interest rebate, a borrower must make their first twelve monthly payments on time.

Entrance Loan Counseling MUST be completed by all students even if one has been completed in the past. Effective July 1, 2008 ALL students receiving Graduate PLUS loans must also complete the PLUS Entrance Loan Counseling online session.

If you have questions, please contact the Office of Financial Aid at 978-3430 or by e-mail at finaid@wichita.edu

Log in to MyWSU to check the status of your financial aid.

 

 

 

USA Funds' 9/11/01 Relief for Borrowers

Federal Family Education Loan Program (FFELP) Assistance for Student Loan Borrowers

 

This site is maintained by OFFICE OF FINANCIAL AID. This page last modified on Tuesday, August 04, 2009 2:23:39 PM Central US Time. If you find errors please bring them to the attention of Office of Financial Aid (finaid@wichita.edu).