Plan for College
If I'm interested in biology, for instance, does that mean I should become a doctor?
Screen 1 - While you should think about the correlation between your chosen major as it relates
to future employment prospects, it is also a good idea to think about careers as more than just a
Screen 2 - Factor in the kind of person you are and how it will relate to a future job. Do you
follow directions well or do you like giving them?
Screen 3 - Do you need a quiet work environment or can you function in the midst of chaos? Do
you like hands-on challenges?
Screen 4 - Do you like to travel? Is a large salary important to you?
Screen 5 - Answers to questions like these may help you to decide on a career that will leave you
content and successful. In your particular case, given your interest in biology, if becoming a
doctor isn’t right for you, other career options to consider might include working in a lab as a
research assistant or becoming a biology teacher.
What do I need to do to get into the college I want to attend?
Screen 1 - As the number of students wanting to attend college increases, the competition to
get into the best schools also increases. Colleges also often look at class rank and out-of-school
activities (see the following question for information about test scores).
Screen 2 - Class rank is the placement of a student's grade point average as it relates to the
entire high school graduating class.
Screen 3 - Keeping your grades up keeps your class rank high and some colleges look closely at
rank when determining which students will automatically be admitted; some automatically
admit anyone in the top percentages of the class.
Screen 4 - After-school or extracurricular activities (like sports, theater, band, choir, and
participating in volunteer activities) can do a lot to help a school decide whether a student is
one who will be involved once he or she is in college.
Do I need to know exactly what I want to do with my life before I start high school?
Screen 1 - No, nothing that specific is necessary. Some of the courses you need to take in high
school are determined by the graduation requirements of your school, and a certain number of
others are required for anyone who wants to attend college.
Screen 2 - Once you know what those are, you can fill in the remaining time with other courses
that you need to take in order to get into a school that will help you reach your career dream.
Screen 3 - If you want to be an engineer, for example, you would take different courses than if
you wanted to be a newspaper reporter.
Screen 4 - Even if you can't decide whether you want to be a lawyer or write novels for a living,
simply knowing that you are interested in writing or law and not engineering can be a great help
in deciding on a high school plan.
Aren't there tests that colleges use to determine who gets in?
Screen 1 - Some colleges and universities do use college entrance exams as part of their
entrance criteria. But, no college uses entrance exam scores alone to determine who gets in.
Screen 2 - Many colleges use ranges of scores. For instance, a student ranking in the top 10
percent of his or her high school graduating class might need a relatively low score on an
entrance exam, or in some cases might not need an entrance exam score at all, to get in.
Screen 3 - But, a student who doesn't have a very high rank among his graduation class might
still be admitted if he or she scores very well on an entrance exam.
Screen 4 - Contact the school or schools you are interested in to find out if and how they use
college entrance exam scores to help determine admission.
What if I take an entrance exam and make a terrible score? Can I take it a second time?
Screen 1 - Yes, both the ACT and the SAT allow students to take the test several times. And
sometimes scores do improve enough to make the difference for a particular student.
Screen 2 - But there is no guarantee that a student's scores will improve. And if you want to
improve your scores, you should see about doing some things to prepare first.
Screen 3 - Talk to a counselor before you take a test over.
What can I do to get ready for the entrance test?
Screen 1 - One of the best ways to prepare for an entrance exam is the same thing you should
do to prepare for college - take the right classes in high school.
Screen 2 - Generally, research shows that students who take the right courses in high school and
do the best work in those classes are the ones who score best on the entrance exams.
Screen 3 - In other words, your high school classes are supposed to prepare you for college and
the tests are supposed to identify those students who are best prepared to do well in college.
Screen 4 - So students who take the right courses in high school and perform well in those
classes are already preparing for the exams and for college at the same time.
What happens to my scores once I take the SAT or ACT?
Screen 1 - A copy of your score report will be sent to you and the schools you list on your
registration form. That might include your high school, if you list its code number, and several
colleges or universities.
Screen 2 - Part of the fee for students taking the test is the cost of sending your score report to
colleges, universities, and/or scholarship programs that you designate. In other words, the
colleges you list on your registration form will automatically be sent your scores.
Screen 3 - Your scores will be shared only with those you want them to be shared with.
What if I don't know which college or university I want to send my scores to?
Screen 1 - Both the ACT and the SAT allow test takers to send their scores to several different
organizations, including scholarship programs, colleges, and universities.
Screen 2 - Even if you aren't certain which school you want to attend, you can send your scores
to those that you think you are most likely to decide to attend.
Screen 3 - And, if you decide on one that isn't even on your list of possibilities, you can pay to
have another report sent there later.
Should I look for a job now to pay for college?
Screen 1 - As education costs continues to increase, many students are working while they
attend college to help pay for the education.
Screen 2 - This a smart move only if you can balance both a job and your classes.
Screen 3 - The more money you pay out-of-pocket towards your education, the less money you
will have to borrow and pay back later.
Screen 4 - In the long run, this will save you money and eliminate the stress of having debt after
Select a School
How do I decide which schools I might want to attend?
Screen 1 - Many things determine which college or university a student decides to attend. You
should think about what you want to study, what the costs will be, the quality of the education
the school offers, where the school is located, how large the school is, and even whether you
feel comfortable on the campus.
Screen 2 – It is important to think about many characteristics when you consider which school
you want to attend. Talk to your high school counselor, visit www.kheaa.com page, and learn all
you can about a school before you apply.
How do I determine if the school is really right for me?
Screen 1 - After you’ve narrowed down the schools you are looking at, you should determine if
they meet your requirements. There is a checklist available at www.kheaa.com that will help
you stay focused on which is the right school for you.
I would really like to see what amenities several campuses have to offer prospective students before I
make a decision, but I can’t afford to actually travel to those locations. Do you have any suggestions?
Screen 1 - Yes. The majority of universities and colleges offer virtual tours on their Web sites
that allow you to view many locations around the campuses without any out-of-pocket expense
Screen 2 - If you don’t have Internet access at your home, try visiting the local library and using
an Internet search engine such as Google or Yahoo to locate the school(s) that you are
interested in attending.
Screen 3 - You should then be able to do a search on the institution’s Web site to locate a virtual
tour of the campus(s) where you can see many of the school’s facilities, dormitories, grounds
and various attractions that the school(s) has to offer its students.
Once I know where I want to go to school, how do I get in?
Screen 1 - Throughout your years in high school, keep good records of everything you might use
to help you be admitted to college - copies of records showing what you participated in, your
grades, your scores on tests, records showing what you volunteered for, newspaper clippings,
Screen 2 - During your senior year in high school, you should gather together all the information
and use it to help you complete an application form.
Screen 3 - You can use a paper application, available from specific schools, or an online
application, which most school offer on their websites, you can submit electronically.
What questions will an admissions application ask?
Screen 1 - An admissions application will request personal information from the applicant along
with a summary of his or her educational credentials. It will also ask for the SAT and/or ACT test
results, if taken.
Screen 2 - In addition, it will solicit some general information on things like extracurricular
activities, community service performed, summer activities, past or current employment and/or
Screen 3 - Prospective students should be able to go to a school’s web site to either complete it
out online or download a paper copy.
Screen 4 - Remember to always use your full name and social security number on any
admissions application materials.
Screen 5 - Many institutions will also require a nonrefundable application fee that must be paid
in a timely manner in order for the application to be successfully submitted.
In addition to the admissions application, what other information will the college need from me in
order to complete the application process?
Screen 1 - Most colleges and universities will require an official high school transcript, SAT
and/or ACT test scores or a date when they will be taken, an application fee and a personal
essay in some cases.
Screen 2 - Some institutions may also require you to complete placement tests before enrolling
in certain college courses.
Screen 3 - For a complete list of the admissions requirements for your institution, contact the
school directly. The information may also be found on the college’s Web site.
What happens once I submit an application?
Screen 1 - For some schools, an application is just a formality - the schools accept anyone who
Screen 2 - For colleges or universities that have strict enrollment requirements or intense
competition for admission, once you submit your application, you must wait to hear from the
Screen 3 - When the school decides whether you will be admitted, they will contact you. When
you submit your application, ask when admission decisions are final and how you will be
Why do some people apply to several colleges or universities?
Screen 1 - Applying to more than one university leaves your options open. Some students want
to find out whether they will be offered scholarships at a college or university before they make
final decisions about whether they will attend.
Screen 2 - Some students aren't sure whether they will be accepted to a college or university
they would like to attend and so apply to more than one, including some they know they will be
Screen 3 - Deciding whether to apply to more than one university is something each student and
his or her family must decide.
Screen 4 - Ask your high school counselor whether you should apply to several colleges, or
whether applying to only one is right for you.
Where can I get information about a particular school’s admissions policy?
Screen 1 - You can obtain information about a school’s admissions policy either by contacting
the institution directly or visiting its Web site.
Screen 2 - When you have selected a school(s), you can download a paper copy of the
application or complete it out electronically on its website.
Screen 3 - This process will go a lot quicker if you have kept good records during high school of
things like your SAT/ACT scores, class rank, honors or awards that you received, volunteer
activities, and/or any jobs that you have held.
Paying For College
Financial Aid Basics
How can I pay for college?
Screen 1 - When it comes to paying for school, you need to know your options. Don't make
decisions without knowing how the process works!
Screen 2 - Otherwise, you may miss out on some help that could make your life a lot easier!
There are many ways to pay for your college costs.
Screen 3 - You can pay for these expenses using your savings, help from family, earnings from
working a full or part-time job, scholarships, or financial aid from the government.
Screen 4 - After exhausting all these options, there are also loan programs to consider, but these
should be considered only as a last resort.
Will financial aid pay for all of my school expenses?
Screen 1 - Financial aid is intended to bridge the gap between what you and your family can
afford to pay for college and the cost of college.
Screen 2 - If you qualify for financial aid, it may come in the form of grants, possibly a work-
study job, and loans.
Screen 3 - Except in cases of exceptional need, it typically covers only a portion of the cost of
Does it cost to apply for financial aid?
Screen 1 - It does not cost anything to apply for financial aid.
Screen 2 - To apply, complete the Free Application for Federal Student Aid – known as the
FAFSA – at www.fafsa.ed.gov
Screen 3 - If you do not have internet access at home, you may be able to access the Internet
on a campus computer or at a local library.
Screen 4 - if you have any questions about the FAFSA or the Financial Aid process,
representatives from the KHEAA College Access Call Center are available to help you, free of
Do I have to wait for admission before applying for financial aid?
Screen 1 - No, you do not have to be admitted in order to apply for financial aid.
Screen 2 - However, you do have to be admitted and registered to receive financial aid.
What are the general eligibility requirements for receiving federal financial aid?
Screen 1 - In order to be considered eligible for these programs, you must complete the FAFSA
and meet the following eligibility requirements:
Screen 2 - You must have a high school diploma, GED, or have passed an independently
administered “Ability of Benefit” test approved by the U.S. Department of Education.
Screen 3 - You must be enrolled in an eligible program leading to a degree or certificate.
Screen 4 - You must be a U.S. citizen or eligible non-citizen.
Screen 5 - You must submit all required forms and documents requested by the financial aid
office at your school.
Screen 6 - You must meet and maintain satisfactory academic progress requirements for
Screen 7 - You must have financial need except in the case of the unsubsidized loans.
Screen 8 - For males between 18 and 25 years of age, you must be registered with the Selective
Screen 9 - You do not owe a refund or repayment on a federal grant
Screen 10 - You are not in default on a federal educational loan.
Screen 11 - You must have a valid Social Security number.
Screen 12 - You have not been convicted of possession or selling illegal drugs while enrolled and
receiving financial aid.
How do I even know if I will qualify for federal financial aid?
Screen 1 - You should complete the FAFSA even if you think you may not qualify for federal
financial aid. You never know what you might receive.
Screen 2 - The FAFSA is the key to unlocking financial aid in the form of grants, work-study, and
When should I complete the FAFSA?
Screen 1 - The new FAFSA becomes available on January 1st of each year. It is generally advised
that you complete the FAFSA as early as possible.
Screen 2 - The CAP and KTG grants for Kentucky residents are awarded on a first come, first
served basis until the funds are exhausted.
Screen 3 - If you or your parents have not yet filed taxes for the year, you can estimate your
earnings based on your previous year's earnings.
Screen 4 - By completing the FAFSA early, you will have the greatest access to Federal, State and
Institutional Financial Aid funds.
I did not file a tax return because my income was too low. Can I still apply for financial aid using the
Screen 1 - Yes. You can still apply for financial aid using the FAFSA even if you did not file a tax
return because your income was too low.
Screen 2 - When filling out the FAFSA, you must indicate that you did not file taxes. You must
also indicate how much you earned for the year.
Do I have to be enrolled full-time to receive financial aid?
Screen 1 - No, You do not have to be enrolled full-time to receive most forms of financial aid.
Screen 2 - In some cases, if you are eligible for financial aid, the amount of aid you receive will
be determined by the number of credits or hours you are enrolled.
Screen 3 - Be aware that some grant and loan programs do require students to be enrolled at
least half-time or full-time to be eligible.
What does the term EFC stand for?
Screen 1 - The term EFC stands for: Expected Family Contribution.
Screen 2 - Your Expected Family Contribution (EFC) is the number that's used to determine your
eligibility for federal student aid.
Screen 3 - The EFC is not the amount of money that your family must provide. Rather, you
should think of the EFC as an index that colleges use to determine how much financial aid you
would receive if you were to attend their school.
I need help paying for college and was told that I should complete the FAFSA. What is the FAFSA?
Screen 1 - The FAFSA stands for Free Application for Federal Student Aid.
Screen 2 - You need to fill out the FAFSA to be eligible for grants, work-study jobs, and student
Screen 3 - The best way to file your fafsa is online at www.fafsa.ed.gov.
Screen 4 - The online FAFSA application is easy to complete. The computer program will walk
you through all the questions you need to answer. Best of all, it won't cost you anything to
Screen 5 - To complete your application, you will need a pin number to electronically sign your
FAFSA. This is to ensure your privacy and security. You can obtain your pin at www.pin.ed.gov.
The financial aid office asked me whether I am a dependent or independent student. What is the
Screen 1 - You are an independent student if you answer yes to any of the following questions:
Screen 2 - Are you 24 years old?
Screen 3 - At the beginning of the school year, will you be working on a master's or doctorate
Screen 4 - As of day you complete the FAFSA, are you married or separated?
Screen 5 - Do you have children who receive more than half of their support from you?
Screen 6 - Do you have dependents, other than your children or spouse, who live with you and
who receive more than half of their support from you?
Screen 7 - Are both of your parents deceased, or were you a ward or dependent of the court
until age 18?
Screen 8 – Are you a veteran of the U.S. Armed Forces?
Screen 9 - Are you currently serving on active duty in the Armed Forces other than training?
Screen 10 - Are you an emancipated minor as determined by a court in your state?
Screen 11 - Are you in a legal guardianship as determined by a court in your state?
Screen 12 - Did your high school or school district homeless liaison determine that you were an
unaccompanied youth who was homeless?
Screen 13 - Did a director of an emergency shelter program determine that you were an
unaccompanied youth who was homeless?
Screen 14 - Did the director of a runaway or homeless youth basic center or transitional living
program determine that you were an unaccompanied youth who was homeless or sere self-
supporting and at risk of being homeless?
Screen 15 - If you answered Yes to any of these questions, then you will be considered
"Independent" and will not be required to submit parent information on the FAFSA.
What is the difference between a grant and a loan?
Screen 1 -A grant does not have to be paid back. It is the best type of aid you can receive.
Screen 2 - A loan, on the other hand, must be re-paid with interest over a period of years.
Screen 3 - Loans should be considered only after exhausting other options.
Screen 4 - It is important to remember that while grants are a great form of financial assistance,
they do require you to fulfill certain responsibilities - such as staying in school and getting good
Screen 5 - You may need to repay a grant if you reduce enrollment or withdraw from all courses
during the semester after receiving financial aid.
How can I get a grant?
Screen 1 - To determine eligibility for a federal grant or state grant, complete the Free
Application for Federal Student Aid (FAFSA).
Screen 2 - You can submit the FAFSA online by going to http://www.fafsa.ed.gov.
What determines financial need?
Screen 1 - The information supplied on a completed Free Application For Federal Student Aid
(FAFSA) is used in a formula, established by the U.S. Congress,
Screen 2 - that calculates your Expected Family Contribution (EFC), the amount you and your
family are expected to contribute toward your education.
Screen 3 - If your EFC is below a certain amount, you may qualify for a Federal Pell Grant (if you
meet all other requirements).
Screen 4 - Your financial aid administrator determines your Cost of Attendance (in most cases,
tuition and fees, room and board, travel, books and supplies, and personal and miscellaneous
expenses) and subtracts your EFC.
Screen 5 - The remaining balance is your financial need. Other sources of financial assistance are
subtracted from the Cost of Attendance before need is determined.
What is campus-based aid?
Screen 1 - Campus-based aid programs are administered directly by the financial aid office at
Screen 2 - Not all schools are involved with all three programs. The Federal Supplemental
Educational Opportunity Grant (FSEOG) Program awards grants, the Federal Work-Study (FWS)
Program offers jobs, and the Federal Perkins Loan (Perkins) Program offers loans. Each
participating school receives a limited amount of funds for the program(s), so make sure to
apply with the FAFSA early!
What if my income (or my parents' income) changes significantly after I apply for financial aid?
Screen 1 - A financial aid administrator may use professional judgment to adjust the data used
in determining a student's EFC, if extenuating family circumstances may cause the data to yield
an EFC that wouldn't accurately reflect the family's ability to contribute to the student's
Screen 2 - You should discuss the change in your circumstances with the financial aid office at
your school to see if the EFC can be altered.
Do I need to file the FAFSA each year?
Screen 1 - Yes, you will need to complete the FAFSA each year.
Screen 2 - Fortunately, it's now easy to annually renew your Free Application for Federal
Student Aid (FAFSASM) online at www.fafsa.ed.gov, without having to deal with the hassle of
Federal Student Loans
How do I apply for federal loans?
Section 1 - You should complete the FAFSA to be considered for federal loans, such as the
Subsidized and Unsubsidized Stafford Loans.
Section 2 - Some colleges also offer 5% Perkins Loans
If I choose to use student loans to finance my higher education, what do I need to know?
Screen 1 –Loans are financial aid that must be repaid.
Screen 2 - Government-sponsored education loans are a good deal if you decide to borrow to
pay for your education.
Screen 3 - They are better than traditional consumer loans because they offer lower interest
rates. There are certain eligibility requirements.
Screen 4 - Congress limited access to education loans because paying for an education is
considered to be the primary responsibility of individual families.
Screen 5 - Borrowers must qualify based on eligibility or need. Whether or not to borrow to pay
for your education is an important decision, and it is one only you and your family can make.
Screen 6 - A good education can be expensive, but it is worth the investment of time, effort, and
Screen 7 - When you decide to enter the world of credit and finance, you assume new
responsibilities, and it is important for you to realize that your loan will have to be paid back.
Screen 8 - As with any debt, you are responsible for repaying your loan -- in full -- even if you do
not complete school, or cannot get a job.
Screen 9 - If you do not make your monthly payments as scheduled -- and you do not make any
special arrangements with your servicer -- you may default on your loan, which carries
What percentage of my post-college income should I plan to pay toward my loans?
Screen 1 - As a general rule, it is recommended that you aim to pay at most 10-12% of your pre-
tax salary on your loan debt.
Screen 2 - Everyone's situation is unique, so the important thing is to be prudent about your
debt and spend wisely.
What is the difference between a Subsidized Stafford Loan and an Unsubsidized Stafford Loan?
Screen 1 - For a need-based Federal Subsidized Stafford Loan, the government will pay the
interest to the lender that accrues during the in-school, grace, and authorized deferment
periods on the borrower's behalf.
Screen 2 – For a Federal Unsubsidized Stafford Loan, the borrower will be responsible for paying
all the interest that accrues over the life of the loan in addition to the principal.
Screen 3 - However, if the student is unable to make quarterly interest payments while enrolled
in school, he or she can direct the servicer to add the accrued interest to the loan principal.
Screen 4 - This will make the balance that has to be repaid increase, so it is always best to make
the interest payments on an unsubsidized loan while enrolled in school, if possible.
Are my parents responsible for paying back Stafford Educational Loans?
Screen 1 - No. Parents are not typically responsible for paying back educational loans taken out
by their children.
Screen 2 - Students themselves are responsible for paying back their educational loans.
When do I begin repayment on my Stafford Loan?
Screen 1 - Your loan will enter repayment six months after graduation or dropping below half-
Screen 2 - Typically, a student who is taking 6 or more credits is considered half-time.
Screen 3 - It is important to check the enrollment status requirements at your school to be
certain you are enrolled at least half-time.
What happens to my Stafford Loan if I do not attend school at least half-time?
Screen 1 - The government pays the interest on a Subsidized Stafford Loan as long as you are
enrolled in school at least half-time or are in your grace period.
Screen 2 - Your loan will enter repayment six months after graduation or dropping below half-
time status. Typically, a student who is taking 6 or more credits is considered half-time.
Screen 3 - It is important to check the enrollment status requirements at your school to be
certain you are enrolled at least half-time.
What is a Federal Perkins Loan?
Screen 1 - A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and
graduate students with exceptional financial need as determined by the school's financial aid
Screen 2 - The school acts as the lender, and the students make payments to it directly upon
Screen 3 - The loan is made using government funds with a share contributed directly by the
Screen 4 - You can find out more about this loan program and other types of campus-based aid
on the U.S. Department of Education's Web site at
When do I start making payments on my Federal Perkins Loan?
Screen 1 - Repayment begins nine months after either a student graduates or ceases to be
enrolled at least half time.
Screen 2 - This 9-month window before repayment begins is called a grace period.
Screen 3 - Federal Perkins loans are repayed directly to the school.
Screen 4 - You can get additional information about the Federal Perkins Loan Program on the
U.S. Department of Education's Web site at
How much can I borrow in the Perkins Loan Program?
Screen 1 - Depending on when you apply, your level of need, and the funding level of the school,
you can borrow up to:
Screen 2 - $4,000 for each year of undergraduate study. The total you can borrow as an
undergraduate is $20,000.
Screen 3 - $6,000 for each year of graduate or professional study.
Screen 4 - The total you can borrow as a graduate/professional student is $40,000. That includes
any Perkins Loans you borrowed as an undergraduate.
What is a PLUS Loan?
Screen 1 - The PLUS Loan is an educational loan provided by the Federal Government to parents
of dependent students.
Screen 2 - The PLUS Loan is designed to help students who have financial need to pay for
educational expenses while attending college.
Screen 3 - To be eligible for a PLUS Loan, parents must pass a credit check and must be either:
U.S. citizen or national
U.S. permanent resident, or eligible non-citizen
Screen 4 - In addition, students must be enrolled at least half-time in an eligible program of
Screen 5 - The interest rate on the PLUS Loan is fixed at 7.9% for the Federal Direct Loan
Screen 6 - The maximum amount parents may borrow in a PLUS Loan is the difference between
the Cost of Attendance and the amount their child receives in financial aid.
Screen 7 - For example, if the Cost of Attendance is $8,000, and the student receives $4,000 in
financial aid, the parent may borrow up to $4,000 in a PLUS Loan.
What is the MPN?
Screen 1 - MPN stands for Master Promissory Note.
Screen 2 - The Master Promissory Note is a binding legal document between you and the lender.
Screen 3 - By signing the MPN, you are agreeing to all of the terms and conditions set forth by
Screen 4 - These terms and conditions include the interest rate as well as deferment and
Screen 5 - Signing the MPN also enables you to receive multiple loans in different academic
years under the same program.
What is a Private or Alternative Loan?
Screen 1 - Private loans, also known as alternative loans, are available through various private
lenders and banks.
Screen 2 - Private loans are not federally guaranteed and the terms and conditions are set by
each individual lender not the federal government.
Screen 3 - c
What is the difference between a private loan and a Stafford Loan?
Screen 1 - A Stafford Loan is a federal education loan. Stafford loans are federally guaranteed
and the terms and conditions are set by the Federal Government.
Screen 2 - Stafford Loans allow students to borrow up to a fixed amount per academic year.
Screen 3 - Private loans are not federally guaranteed and the terms and conditions are
determined by private lenders and banks.
Screen 4 - Most private loans allow students to borrow up to the cost of attendance minus other
financial aid awarded.
Screen 5 - Most private loan lenders require an approved credit check before a student will be
considered for the loan.
What is the difference between a private loan and a PLUS Loan?
Screen 1 - The PLUS Loan is a federal education loan for parents of undergraduate students.
Screen 2 - The PLUS Loan MPN and credit check are done in the parent’s name. PLUS Loans are
federally guaranteed and the terms and conditions are set by the Federal Government.
Screen 3 - The Federal PLUS Loan repayment begins shortly after the final disbursement on the
Screen 4 - A private loan is a loan taken out in the student’s name.
Screen 5 - Private loans are not federally guaranteed and the terms and conditions are
determined by private lenders and banks.
Screen 6 - Private loans have various repayment requirements.
Screen 7 - Most private loan lenders will require a student to make interest only payments while
Screen 8 - Full repayment of principal and interest begins after the student has graduated or is
no longer attending school. Some private loan lenders offer a grace period.
When should I consider a private loan?
Screen 1 - After you have exhausted all avenues of financing your education -- including
scholarships, grants, work study and federal loans –
Screen 2 - if you are still in need of additional funding, you may be eligible for a private loan.
Are there any fees for taking out a private loan?
Screen 1 - Private loan lenders may have additional fees required for borrowing with their loan
Screen 2 - You will want to carefully research each private loan program you are interested in to
determine if there are additional fees or charges.
Where can I find information about private loans?
Screen 1 - The KHEAA Marketplace, online at www.kheaamarketplace.com, lets students
compare loans from several lenders to find the one that best meets their needs.
Do you have any suggestions for what I can do now to prepare for repaying my loans?
Screen 1 - Prepare a realistic budget and stick to it.
Screen 2 - Contact your servicer if you have not received repayment information. It is your
responsibility to make your payments on time.
Screen 3 - Open all of your mail.
Screen 4 - Your loan may be transferred to another servicer. It is the responsibility of the
servicer to notify you if such a transaction occurs. This notification is usually communicated by
Where can I find information about my loans?
Screen 1 - The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s
central database for student aid. NSLDS is available to answer questions about Title IV loans
and/or Pell Grants.
Screen 2 - Go to http://www.nslds.ed.gov for information on loan amounts, outstanding
balances, loan statuses and disbursements.
Screen 3 - Or call the Federal Student Aid Information Center toll-free at (800) 4-FED-AID.
What are my repayment options?
Screen 1 - You may prepay your loan at any time without penalty.
Screen 2 - You may be able to structure your repayment plan to fit with your financial situation.
Screen 3 - You may change your repayment plan at any time by contacting your lender or
servicer. Four common repayment options are:
Screen 4 - A standard plan whereby you pay a fixed amount each month.
Screen 5 - A graduated plan whereby you pay more over time.
Screen 6 - An extended plan whereby you extend the time it takes to repay a loan. This option is
often reserved for students with significant debt loads.
Screen 7 - An income-based repayment (IBR) plan whereby your monthly payment amount is
capped at 15% of your discretionary income.
Screen 8 - To be eligible for IBR, you must demonstrate partial financial hardship.
Screen 9 - Borrowers who have not repaid their entire loan balance after 25 years may be
eligible for loan forgiveness, which means the federal government will cancel the remaining loan
Screen 10 - For more information about repayment plans please visit the Department of
Education website at: http://studentaid.ed.gov/PORTALSWebApp/students/english/repaying.jsp
What is an Income-Based Repayment Plan?
Screen 1 - Effective July 1, 2009 the Income-Based Repayment (IBR) plan is a new repayment
option for federal student loan borrowers.
Screen 2 - Under IBR, your student loan payments are intended to be affordable based on your
income and family size.
Screen 3 - IBR caps your monthly payment amount at 15% of your discretionary income. To be
eligible for IBR, you must demonstrate partial financial hardship.
What is the repayment period under an Income-Based Repayment Plan?
Screen 1 - The maximum repayment period for loans under the IBR plan is 25 years.
Screen 2 - Borrowers who have not repaid their entire loan balance after 25 years may be
eligible for loan forgiveness, which means the federal government will cancel the remaining loan
Screen 3 - If you are currently in repayment and wish to speak to someone about possibly
changing your repayment plan to the IBR plan, contact your current servicer or lender.
Screen 4 - For more information about repayment plans please visit the Department of
Education website at:
Do I still need to make loan payments if my coupon booklet runs out?
Screen 1 - Yes. Remember that you are financially responsible for your loan and timely
payments are important not only to your loan holder, but to your credit history as well.
Screen 2 - If your coupon booklet runs out, request a new one by contacting your lender or
servicer, but always keep the payment address on file and send your monthly payment
regardless of whether or not you have payment coupons.
Is it possible to have my loan payments automatically withdrawn from my bank account?
Screen 1 - Yes. Most loan holders do offer an auto draft of the monthly payment from your bank
Screen 2 - Contact the institution servicing your student loan about how to set it up.
What does default on a student loan mean?
Screen 1 - When a borrower is 270 days or more delinquent in making payments on a student
loan, the borrower is considered to be in default.
Screen 2 - Once a borrower is in default, the lender may file a default claim with the guarantor
of the loan.
Screen 3 - Once the guarantor has paid the lender’s default claim, the guarantor becomes the
holder of the loan and is responsible for collecting on the loan on behalf of the federal
Screen 4 - If the borrower fails to comply with a voluntary repayment schedule in order to
rehabilitate the defaulted loan, the guarantor can implement collection activities that include:
Screen 5 - Administrative wage garnishment
Assessment of collection costs
Derogatory Credit Bureau reporting
Screen 6 – Loss of financial aid eligibility
Seizure of Kentucky lottery winnings
Suspension or denial of state licensing
Seizure of any U.S. Treasury payments or state tax refunds the borrower is due
Can I get federal financial aid if I am in default on a federal student loan?
Screen 1 - No. If you are in default on a student loan, you are ineligible to receive federal
What are the conditions for cancellation or discharge of a federal student loan?
Screen 1 - The following conditions allow cancellation or discharge of Direct and FFEL Program
Screen 2 - Borrower's total and permanent disability or death. In case of PLUS loan borrowed on
behalf of a dependent student, death of student
Screen 3 - Closed school (before student could complete program of study) or False Loan
Certification for loans received on or after January 1, 1986.
Screen 4 - Bankruptcy (in some rare cases)
Screen 5 - Cases of fraud, false identification, or theft
Screen 6 - Teacher loan forgiveness
Screen 7 - Contact your loan holder for specific requirements.
Do loan holders report borrowers to credit bureaus for delinquency on student loan accounts?
Screen 1 - Federal regulations require your loan holder to report information on each loan it
makes or holds to at least one national credit bureau.
Are my veteran education benefits taxable?
Screen 1 - No. Any veterans’ benefits paid under any law administered by the Department of
Veterans Affairs (VA) should not be reported as income to the Internal Revenue Service (IRS).
You will not receive a W-2 from the VA.
Can I be eligible for two or more education benefits?
Screen 2 - Yes, you may be eligible for more than one VA education benefit program. However,
you may only receive payments from one program at a time. You can receive a maximum of 48
months of benefits under any combination of VA education programs you qualify for.
Screen 3 - For Example: If you qualify for both MGIB-AD (Chapter 30) and MGIB-SR (Chapter
1606), you can receive 36 months of entitlement at your MGIB-AD payment rate, and then an
additional 12 months of entitlement at your MGIB-SR payment rate, up to the maximum total of
48 months entitlement.
Screen 4 - If you are eligible for more than one benefit program, please notify VA of which
program you intend to use upon deciding to enroll in an approved education or training course.
You can contact VA using the "Ask a Question" tab above, or by calling 1-888-GIBILL-1 (1-888-
Can I use VA benefits at any school, including an online school?
Screen 1 – Schools nationwide, including online learning institutions accept the VA Educational
Screen 2 – To find out if your school participates and the name of the certifying official at the
school, please visit the web site listed on the screen.
I am enrolled in school, when will I receive my benefits from VA?
Screen 1 - Once your school submits your enrollment information, it must be entered into the
system by VA. Because VA is generally overwhelmed with enrollments at the start of each
semester, it could take up to 6 weeks to process an enrollment during those times.
Screen 2 - If you are receiving benefits under MGIB-AD (Chapter 30) or MGIB-SR (Chapter
1606), you must also verify your enrollment at the end of each month in order to receive
payment for that month. Benefits are paid after each month of school is completed.
Screen 3 - You will generally receive payment within two weeks of verifying your enrollment at
the end of the month (or within one week if using Direct Deposit). If you don't receive payment
in this timeframe, contact VA by calling 1-888-GIBILL-1 (1-888-442-4551).
What is the Post-9/11 GI Bill
Screen 2 - The Post-9/11 GI Bill provides up to 36 months of education benefits to those who
have served on active duty after September 10, 2001. It can be used only at Institutions of
Screen 3 - It can pay up to the maximum tuition and fees charged in an undergraduate program
at state Institutions of Higher Learning in each state. If you are attending at least one class in a
classroom you may be entitled to receive a housing allowance equal to the military BAH for an
E-5 with dependents at the location of the school you are attending.
Screen 4 - You may also receive a books and supplies stipend up to $1,000 each year. You have
15 years from your last discharge from active duty to use your benefits.
How do I know if I am eligible for the Post 9/11 GI Bill?
Screen 1 – In order to be eligible for the Post 9/11 GI Bill, you must have a minimum of 90 days
active duty after September 10, 2001, and
Screen 2 – Be honorably discharged from Armed Forces; or
Screen 3 – Be release from Armed Forces with service characterized as honorable and placed on
the retired list, temporary disability retired list, or transferred to the Fleet Reserve or the Fleet
Marine Corps Reserve; or
Screen 4 – Be discharged or leased from Armed Forces for:
EPTS (Existed Prior to Service)
CIWD (Condition Interfered with Duty); or
Screen 5 – Continue to be on Active Duty
What is the Montgomery GI Bill - Active Duty (Chapter 30)?
Screen 2 - The MGIB program provides up to 36 months of education benefits to those who
have served on active duty. This benefit may generally be used for degree and certificate
programs, flight training, apprenticeship/on-the-job training and correspondence courses.
What is the Montgomery GI Bill - Selected Reserve (Chapter 1606)
Screen 2 - The MGIB-SR program may be available to you if you are a member of the Selected
Reserve. The Selected Reserve includes the Army Reserve, Navy Reserve, Air Force Reserve,
Marine Corps Reserve and Coast Guard Reserve, and the Army National Guard and the Air
Screen 3 - This benefit may generally be used for degree and certificate programs, flight training,
apprenticeship/on-the-job training and correspondence courses.
What is the Reserve Educational Assistance Program (Chapter 1607)
Screen 2 - Reserve Educational Assistance Program is a new Department of Defense education
benefit program designed to provide educational assistance to members of the Reserve
components called or ordered to active duty in response to a war or national emergency
(contingency operation) as declared by the President or Congress.
Screen 3 - This new program makes certain reservists who were activated for at least 90 days
after September 11, 2001 either eligible for education benefits or eligible for increased benefits.
What is the Dependents' Educational Assistance Program (Chapter 35)
Screen 2 - DEA provides education and training opportunities to eligible dependents of veterans
who are permanently and totally disabled due to a service-related condition, or who died while
on active duty or as a result of a service related condition.
Screen 3 - The program offers up to 45 months of education benefits. These benefits may
generally be used for degree and certificate programs, apprenticeship, and on-the-job training.
What is the Veterans' Educational Assistance Program (Chapter 32)
Screen 2 - VEAP is available if you first entered active duty between January 1, 1977 and June
30, 1985 and you elected to make contributions from your military pay to participate in this
education benefit program.
Screen 3 - Your contributions are matched on a $2 for $1 basis by the Government. This benefit
may generally be used for degree and certificate programs, flight training, apprenticeship/on-
the-job training and correspondence courses.
What is the National Call to Service Incentive Program?
Screen 2 - This National Call to Service Incentive program requires a participant to perform a
period of national service to be eligible for benefits. It is a Department of Defense program that
is administered by VA.
Where can I get an application for veteran education benefits?
Screen 2 –
Contact your school official or school office that handles VA education benefits, or
Have an application sent to you by calling 1-888-GIBILL-1 (1-888-442-4551).
Can the VA pay for training if I am less than half-time?
Screen 2 - Yes, benefits can be paid for training at less than half time for all VA education benefit
Screen 3 - If you're receiving the Post-9/11 GI Bill and training at less then 1/2 time you will not
receive the housing allowance portion of the benefit.
Screen 4 - If you're receiving any other benefit program, VA will pay you based on the tuition
and fees of your course or courses as reported by your school. Tuition and fees don’t include
books and supplies.
Who do I contact to find out how many months of benefits I have remaining?
Screen 1 – You may call 1-888-442-4551 to speak to a G.I. Bill technician to find out your
How long am I eligible to receive the Post 9/11 GI Bill benefits after I am no longer on active duty?
Screen 1 – Individuals who serve at least 90 consecutive days are eligible for 15 years from their
last period of active duty. If service is 30 days or more and you are released for a service
connected disability, you will be eligible for 15 years.
Screen 2 – For the lastest information, please visit WWW.GIBILL.VA.GOV.
Military Survivors and Dependents
Who’s eligible for Dependents’ Educational Assistance (Chapter 35) benefits and what can they be
Screen 2 - The Dependents’ Educational Assistance program provides education benefits for the
spouse and dependent children of a veteran or service member who:
Screen 3 - Is determined to be permanently and totally disabled from service connected causes
Screen 4 – Is on active duty and is likely to be discharged with a permanent and total disability,
Screen 5 - Died in service, or died of service connected causes
Screen 6 - Is currently missing in action or captured in the line of duty.
Screen 7 -This benefit may be used for pursuit of an undergraduate or graduate degree, courses
leading to a certificate or diploma from business, technical or vocational schools, apprenticeship,
and on-the-job training programs.
Screen 8 - Benefits for correspondence courses are available to spouses only. The program
provides up to 45 months of education or training.
Can a veteran's child receive Survivors' & Dependents' Educational Assistance (also known as DEA or
Chapter 35) payments after age 26?
Screen 2 - The ending date for DEA benefits for children is generally the 26th birthday. However,
in some cases, you may be eligible to have your period of eligibility extended. Examples of some
of these cases include:
Screen 3 - Veteran did not receive rating of “Permanently and Totally Disabled” until eligible
child was between 18 and 26 years of age.
Screen 4 - Veteran died of DEA-qualifying cause while the eligible child was between ages 18
Screen 5 - DEA-eligible child serves on active duty and is released (other than dishonorably)
between ages 18 and 26.
Screen 6 - Veteran loses, and then regains, his or her permanent disability rating while the
eligible child is between ages 18 and 26.
Screen 7 - VA determines that an eligible child had to suspend his or her program of education
or training for reasons beyond the child's control.
Screen 8 - Other situations not listed here may qualify a DEA beneficiary to receive benefits past
the age of 26, and eligibility decisions frequently must be made on a case-by-case basis. For
additional information contact 1-888-GIBILL-1.
Can remarried Surviving Spouses receive Dependents Educational Assistance?
Screen 2 - If surviving spouse marries before age 57, eligibility ends on the date of remarriage.
Screen 3 - If surviving spouse marries on or after January 1, 2004, and is 57 or older, you can still
be eligible for DEA benefits.
Servicemembers Civil Relief Act
How does the Servicemembers Civil Relief Act affect my student loan interest rates?
Screen 1 – The Servicemembers Civil Relief Act, establishes a maximum interest rate of 6% on
debts incurred by a servicemember or the servicemember and the servicemember’s spouse
jointly, before the servicemember enters military service.
What do I need to send my lender in order to qualify for the Servicemembers Civil Relief Act interest
rate cap of 6%?
Screen 1 – To qualify for the 6% interest rate cap, you need to provide your lender written
notice and a copy of the military orders calling you to military service or extending your military
What is the Military Service Interest Waiver?
Screen 1 – If you borrowed a Direct Loan, no interest will accrue for up to a period of 60 months
if you meet one of the following conditions:
Screen 2 – 1. You are serving on active duty during war or other military operations or national
Screen 3 – 2. You perform qualifying National Guard duty during war or other military
operations or national emergency.
Screen 4 – The Military Service interest waivers applies to Direct Loan first disbursed on or after
October 1, 2008.
Screen 5 – FFEL Program Loan first disbursed on or after October 1, 2008 (including
consolidation loans that repaid FFEL or Direct Loans first disbursed on or after October 1, 2008)
are also eligible for the Military Service Interest Waiver when included in a Federal Direct
What are some of my options for returning to school?
Screen 1 - It used to be that returning to college meant trying to find a way to fit into a regime that
was primarily organized for just-out-of-high school undergraduates. This is no longer the case.
Screen 2 - Some of the types of college experience now open to returning adults are
Employer-sponsored training programs
Specific adult education programs
Screen 3 -
Instructional Television (ITV) classes
And of course, regular day classes.
What are the top ten tips for returning adult students?
Screen 2 – 1. Consult with college admissions and advising professionals to utilize the academic
Screen 3 – 2. Expect to see similar students with similar goals, like yourself, in your classes.
Screen 4 – 3. Scan the employability environment and know your marketability.
Screen 5 – 4. Investigate the requirements for a career choice and see if it fits your interests,
abilities, and needs.
Screen 6 – 5. Have a support system in place. Identify who you can count on for moral support.
Screen 7 – 6. Assess yourself academically.
Screen 8 – 7. Create balance in your life. Doing well in college takes time and planning.
Screen 9 – 8. Apply for financial aid. The first step is to complete the Free Application for
Federal Student Aid.
Screen 10 – 9. Investigate taking online classes. This flexible learning approach offers
advantages for your busy schedule.
Screen 11 – 10. Realize how much you already know. The prior experience and knowledge you
bring, as an adult student, will benefit your college experience.