1. FINANCIAL AID

2. FEDERAL DIRECT STAFFORD LOAN Student is the borrower: freshman amount 5,500 Repayment begins 6 months after student separates from school (graduate, withdraw, less than half time) Interest rate fixed at 4.66% Subsidized Stafford loan – government pays interest Unsubsidized Stafford loan – student may pay interest while in school or defer 1.1% fee deducted from loan

3. FEDERAL DIRECT STAFFORD LOAN To apply, go to www.studentloans.govwww.studentloans.gov Sign in using your Student Federal PIN number First time borrowers must complete Direct Loan Entrance Counseling Complete Electronic Master Promissory Note King’s College Direct Loan Code is G03282 Select the Wilkes-Barre, PA address from drop down box

4. Federal Direct Parent PLUS L oan Parent loan for dependent undergraduate students.Parent loan for dependent undergraduate students. Based on parents’ credit-worthiness, not financial needBased on parents’ credit-worthiness, not financial need Can be used for all, or part, of the cost of education minus financial aid; apply forCan be used for all, or part, of the cost of education minus financial aid; apply for academic year Interest rate – fixed 7.21% ; 4.3% fee deducted from loan proceedsInterest rate – fixed 7.21% ; 4.3% fee deducted from loan proceeds

5. Federal Direct Parent PLUS Loan Repayment options:Repayment options: –Immediate repayment 60 days after the loan is fully disbursed (March 2014) –Defer principle upon request, after first disbursement and pay interest only (up to 4 years) –Defer principle and interest upon request, after first disbursement (up to 4 years) 10 year standard repayment term 10 year standard repayment term

6. Federal Direct Parent PLUS Loan To apply, go to www.studentloans.govwww.studentloans.gov Sign in using your Parent Federal PIN number King’s College Direct Loan code is G03282 Complete a request for Direct PLUS loan, initiates credit check. Once credit check is approved, use Parent Federal PIN number to complete Electronic Master Promissory Note Go to Kings. Edu (Admissions> Costs and Financial aid>Financial Aid forms) to access the Parent Loan request form. Parent and Endorser signatures, if applicable, required.

7. Federal Direct Parent PLUS Loan PLUS Denial  Parent may re-apply with a credit-worthy endorser  Dependent students may borrow an additional amount through the Direct Unsubsidized Stafford Loan program. Freshmen can receive a maximum of $3,500 subsidized and $6,000 unsubsidized for a total $9,500 per academic year.

8. PERKINS LOAN ApplicationApplication Separate application must be completed and returned to Financial Aid Office; if awarded a Perkins, the application was sent separately Promissory notePromissory note Promissory note must be signed at the beginning of each semester; students will be notified by the Business Office

9. Private Loans Review lenders at www.kings.edu, “Education Loans”www.kings.edu Available to students to borrow in addition to Stafford Loans Creditworthy cosigner is required Interest rates, fees, repayment terms will vary by loan No cap on interest rate; can change quarterly, sometimes monthly (based on Prime rate or LIBOR)

10. FEDERAL WORK STUDY Required forms:  Application for Federal Work Study (online)  W-4 Form (federal tax withholding)  Employment Eligibility Verification Form I-9  Information Confidentiality Policy  Workers’ Compensation Employee Notification  Direct Deposit Application – Attach Voided Check  Residency Certification form

11. VERIFICATION REQUIREMENTS If selected for verification, the process must be completed before financial aid can be finalized. Requested information may include the following :  2013 Federal Tax return Transcripts for parent and student  W-2 forms  Verification worksheet  Non filer form (parent or independent student)  Documentation of Untaxed income, including Child Support  Documentation of SNAP benefits.

12. ACADEMIC PROGRESS In order for students to remain eligible for aid, students must meet both a credit completion and cumulative GPA requirement Academic progress is reviewed at end of each semester: -At end of fall, students who may be in danger of not meeting academic progress requirements are sent a warning letter -At end of spring, students reviewed again and aid for following year may be cancelled as a result or students may be allowed a probationary semester.

13. ACADEMIC PROGRESS Credit Requirement:Credit Requirement: Students must complete a minimum of 80% of the credits they attempt Example: Student attempts 30 credits; must earn a minimum of 80% or 24 credits Requirement applies to all aid programs with exception of PHEAA Grant. All full-time PHEAA Grant recipients must complete 24 credits each year they receive a grant

14. ACADEMIC PROGRESS Cumulative GPA Requirement – varies by aidCumulative GPA Requirement – varies by aid Scholarships Federal Aid Presidential 3.25 Pell, SEOG, Dujarie3.25 Perkins, Direct Moreau 3.00 Stafford, PLUS & Christi Regis 2.75 federal workstudy 2.00 College Grants DePrizio, Grant in Aid, McGowan Hispanic, Excellence, Legacy & Monarch Grant 2.00

15. ACADEMIC PROGRESS If not meeting the academic progress requirement, upon successful appeal, allowed one probationary semester during which they can receive aid. All students must have cumulative GPA of 2.00 at the end of four full semesters in order to continue receiving aid. If not meeting the credit requirement, students have the summer term to make up credit deficiencies. However, only classes taken at King’s will be counted toward both credits and GPA. Classes taken at another school will have no impact on the GPA, only credits.

16. RENEWAL OF FINANCIAL AID Renewal FAFSARenewal FAFSA Must be filed each year after January 1 st in order for need- based aid to be renewed Need-Based AidNeed-Based Aid includes Pell Grant, PHEAA Grant, SEOG, Perkins, Federal Work Study, King’s Grant, and Federal Direct Stafford Loans; Eligibility reevaluated each year based upon most current FAFSA data and availability of funds Award Letters for Subsequent YearsAward Letters for Subsequent Years Award letters for returning students available on WEB ADVISOR mid June each year