Direct Student Loans

Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest, just like car loans and home mortgages.

Direct Student Loans

Loans made through this program are referred to as Direct Loans, because eligible students and parents borrow directly from the U.S. Department of Education at participating schools.

Who is Eligible? Value & Duration When & How to Apply
Half and full-time students who demonstrate financial need. $200-$10,500 based on academic classification and financial need. Undergraduate dependent lifetime limit of $23,000. Undergraduate independent lifetime limit of $57,500. Subsidized and/or Unsubsidized loans are available based on financial need. Interest rate for Subsidized loans is 0% in school and 4.29% fixed after leaving school. Interest rate for Unsubsidized loans is 4.29% fixed both in and out of school. Repayment begins 6 months after student leaves school. Loans are made for a semester or academic year. Complete Free Application for Federal Student Aid (FAFSA). For additional information visit ISAC's website. Complete Kishwaukee College Financial Aid Application and satisfactory academic progress statement. Apply by July 1st for priority consideration. Application must be submitted prior to the last day of the semester to qualify. Application turn around is usually 4-6 weeks after initial submission. Official academic transcripts from all previous colleges are required. Loan application is available at the Financial Aid Office. Students must also complete Entrance Counseling and a Master Promissory Note at prior to receiving student loans.


To be eligible, you will need to:

  1. Have a complete financial aid file for the academic year you are applying for.
  2. Meet all eligibility requirements (ex. satisfactory academic standards).
  3. Be enrolled at least six semester hours that apply to a degree or a certificate that can be earned at Kishwaukee College every semester.
  4. Submit a Direct Loan Request Form to the Financial Aid Office.
Type Need Based Accrues Interest While in 6+ Credits Credit Based Borrower
Direct Subsidized YES NO NO Student
Direct Unsubsidized NO YES NO Student
Direct PLUS Parent NO YES YES; Parent Parent

Student Loan Code of Conduct

All Kishwaukee College (KC) employees who are in anyway responsible for the administration of student educational loans will adhere to the Kishwaukee College Student Loan Code of Conduct.  This includes all Financial Aid Staff, supervisors of Financial Aid Administrators, Business Office personnel who deal with loans and anyone who otherwise has responsibility, authority or involved in decision making regarding student loans.

Contact Us

Financial Aid OfficeP815-825-9328Efinaid@kish.eduOC2100

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