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The Office of Student Financial Assistance continues to educate students and families regarding lender options, loan products and benefits that come with choosing a lender. Students and parents are free to select the lender of their choice. Each year a Request for Information (RFI) is sent to lenders, for the purpose of obtaining information on lender services and loan products.Annually a Lender Review Committee composed of a university staff and a student reviews lender information and loan products to ensure that NKU is providing the best educational options for our students and parents. Some benefits reviewed during the selection process include, but are not limited to: competitive borrower benefits, customer service and default prevention plans. NKU allows all borrowers to make their own lender selection. Students and parents are not limited to the lenders displayed.
NKU continues to ensure the integrity of all financial aid programs and will avoid any potential conflict by adhering to the NKU Student Loan Code of Conduct.
NKU Student Loan Code of Conduct:
Northern Kentucky University employees, officers, and agents are prohibited from receiving gifts from all lenders, guaranty agencies, or loan servicers. Gifts include but are not limited to: the payment of trips, meals, entertainment, or scholarship programs.
Prohibits revenue-sharing arrangements with any lender. All employees are prohibited to entering into a contractual student loan arrangement with any lender, servicer, or guarantor.
Prohibits steering borrowers to a particular lender, refusing certification, or delaying loan certifications.
Prohibits compensation from providing concessions, loan volume, or any lender arrangements.
Prohibits the lender to provide staffing assistance to any NKU offices.
Prohibits the participation of financial aid personnel on lender advisory boards.
|
Maximum Academic Year Federal Stafford Student Loan Amounts |
| Grade Level | Dependent Student | Independent Student |
|---|---|---|
| Freshman (1-29 hrs) | $5,500/Year | $9,500/Year* |
| Sophomore (30-59 hrs) | $6,500/Year | $10,500/Year* |
| Junior (60-89 hrs) | $7,500/Year | $12,500/Year** |
| Senior (90+ hrs) | $7,500/Year | $12,500/Year** |
| Law/Graduate Student | $20,500*** |
* At least $6,000 od this amount must be in unsubsidized Stafford loan.
** At least $7,000 of this amount must be in unsubsidized Stafford loan.
*** At least $12,000 of this amount must be in unsbusidized Stafford loan.
The aggregate loan limit for a dependent student is $31,000
The aggregate loan limit for an independent student is $57,500
The aggregate loan limit for a law/graduate student is $138,500 (no more than $65,500 may be subsidized). The law/graduate limit does include what is received as an undergraduate student.