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  • PFS-StudentLoans.jpg
    Kaplan University Graduate

    Federal Student Loan Programs

    Kaplan University students are eligible to apply for the Title IV federal student loan programs. The University currently offers Subsidized Stafford, Unsubsidized Stafford, and Parent/Grad Plus loans through the William D. Ford Direct Loan program with the U.S. Department of Education. 

    Federal loans are generally lower-interest rate loans offering students a grace period in which payments are not due, as well as multiple repayment plans. 

  • Applying for Student Loans

    PFS - FATV: Stafford Loans
    Student Loans Overview Video

    Whether you are a first-time borrower or a continuing student borrower, you may apply for a Direct Loan by completing a Free Application for Federal Student Aid (FAFSA) and electronically signing a Master Promissory Note (MPN).

    See below for important information about the student loan process including documents and resources to guide and inform you.

    Loan Entrance Counseling

    The U.S. Department of Education requires that all students wishing to borrow under the federal Stafford loan program participate in a loan entrance counseling before receiving funds. To help you satisfy this requirement, visit the Direct Loans website. Please note, to complete this Entrance Counseling and Exam you will need your FAFSA PIN number to access your loan documentation.

    Federal Stafford Loans

    Federal Direct Loans Reference Guide_v2
    Federal Direct Loans Reference Guide

    There are two types of federal Stafford loans - subsidized and unsubsidized.

    • Subsidized means that the U.S. Department of Education pays your interest while you are in school and during any other periods of authorized deferment. However, during periods of repayment and forbearance, you are responsible for the interest on your loan. This type of loan is need based, meaning that your eligibility for this loan will be based in part on your financial need.
    • Unsubsidized means that you are responsible for the interest that accrues from the disbursement date, even while you are in school. This type of loan is not based on your financial need.

    These loan payments are deferred while you are enrolled in school. However, once you graduate or fall below a half-time credit load (undergraduate, 6 quarter credit hours per semester; graduate, 2 or 4 quarter credit hours depending on your program), you will enter into a “grace” period of 6 months before your repayments begin. Once this period has expired, you will be required to begin making payments on your student loans. 

    PLUS Loans

    PFS-PLUS-Loans-Overview-doc.gif
    PLUS Loans Overview

    Grad PLUS Loans
    The Grad PLUS loans are only available to graduate students who are enrolled at least half time. This loan has a maximum interest rate of 8.5% and you are responsible for repaying the loan while you are enrolled. However, you have the option to defer payments on your loan unless you are taking less than a half-time credit load. Depending on your circumstances, you may be eligible for a 6-month grace period. You will still be responsible for the unpaid interest that accrues while you are in school and during any period of forbearance or deferment.

    Parent PLUS Loans

    Parents of dependent students who are planning to apply for the parent PLUS loan must complete the Parent Loan Data Form. Parents should also visit the Direct Loan site to complete a new MPN for student loans. Please see below for details on completing the MPN. 

     

    Parent eligibility requirements for a Direct PLUS Loan

    You must be the student's biological or adoptive parent or the student's stepparent, if the biological or adoptive parent has remarried at the time of application. Your child must be a dependent student who is enrolled at least half-time at a school that participates in the Direct Loan Program. For financial aid purposes, a student is considered "dependent" if he or she is under 24, unmarried, and has no legal dependents at the time the Free Application for Federal Student Aid is submitted. (Exceptions are made for veterans, wards of court, and other special circumstances.) If a student is considered dependent, then the income and the assets of the parent have to be reported on the FAFSA.

     

    Interest on PLUS Loans

    Unpaid interest accumulates while you are in school or in any deferment or grace period and is added to your principal balance at the end of the grace period, deferment, or forbearance period.

    For example, if you borrow $1,000 and have $50 in unpaid interest, that $50 is added to the $1,000 at the end of your grace period. Thus, your principal balance will become $1,050 and you will thereafter pay interest on that amount. However, you should know that you have the option to pay the interest while you are in school to avoid having the unpaid interest amount added to your principal balance.

    Once you decide which loan to apply for, it is important to be aware of your rights and responsibilities as a student borrower. You should understand the seriousness and importance of the repayment obligation you are assuming. 

    View Important Information About Your Student Loans.

    Master Promissory Note

    The Master Promissory Note (MPN) is a binding contract. The document states your obligation to repay your financial aid loans. The MPN can be used for both subsidized and unsubsidized loans and for one or more academic years (up to 10 years).

    • Visit the Direct Loans site to apply for a federal Stafford loan
    • Once on the direct loans website, sign in and click on the "Complete New MPN for Student Loans" link
    • On the MPN Type Selection screen, select the Subsidized / Unsubsidized option.
    • Complete the student authentication process. Please have your PIN ready.
    • Provide the required school information: Select IOWA for the school location and select KAPLAN UNIVERSITY DAVENP, 1801 EAST KIMBERLY ROAD, DAVENPORT IA 528072095.
    • Read the borrower's rights and responsibilities.
    • You must provide the names of verifiable references who do not live in your household. Do not leave anything blank.
    • Avoid clicking on the "Back" button when completing this form.

    Direct Loans Website
  • Student Loan Resources

    • PFS- Stafford Loan Overview
      Federal Stafford Loans Overview
    • PFS-PLUS-Loans-Overview-doc.gif
      PLUS Loans Overview
    • PFS-MPS-Tutorial-doc.gif
      MPN Tutorial
    • PFS-MPN-Instructions-Dependents.gif
      MPN Instructions for Dependent Students
    • PFS-MPS-QuickList.gif
      MPN Quicklist
    • PFS-Parent-PLUS-doc.gif
      Parent PLUS Loan Data Form
  • See Also

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