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Media Relations
Kansas State University
9 Anderson Hall
Manhattan, KS 66506
785-532-6415
media@k-state.edu

Information provided by K-State Media Relations, K-State's news service, may be reproduced without permission. The marks and names of Kansas State University are protected trademarks and may not be used in any commercial or private endeavor without the approval of the university.

Source: Larry Moeder, 785-532-6420, larrym@k-state.edu
News release prepared by: Beth Bohn, 785-532-6415, bbohn@k-state.edu

Tuesday, July 8, 2008

CHANGES IN FEDERALLY GUARANTEED STUDENT LOAN PROGRAM CAN HELP MAKE A K-STATE EDUCATION AN EVEN BETTER VALUE

MANHATTAN -- Two recent changes to the federally guaranteed student loan program are good news for Kansas State University students and can help with their educational costs for the coming school year, according to Larry Moeder, assistant vice president for student financial assistance and admissions at K-State.

"The changes, part of the recently enacted Ensuring Continued Access to Students Loans Act of 2008, will reduce the need for high-cost private student loans," Moeder said. "They also can help make a K-State education, already cited as one of the nation's best values, even more affordable."

In 2007, K-State was recognized as one of Kiplinger's 100 best values in public college education and was one of the Princeton Review's best value colleges in America.

The first change to the student loan program, Moeder said, increases unsubsidized federally guaranteed student loan eligibility by $2,000 for a typical undergraduate per academic year.

"To continue emphasizing responsible student loan borrowing, K-State is notifying students enrolled for the fall 2008 term of this additional available assistance," he said.

The law also introduced a new repayment option for parents of dependent students borrowing under the Federal Parent PLUS Loan program.

"Until now, repayment on a Parent PLUS Loan typically began for the parent borrower 60 days after the loan has been disbursed," Moeder said. "The new repayment option will allow the parent borrower to begin repayment six months after the dependent student has ceased to be enrolled on at least a half-time basis, which is typically after the student has graduated. This repayment option is particularly beneficial because economic concerns are on everyone's minds."

Moeder said K-State has e-mailed the changes in the federally guaranteed student loan program to all students who have been admitted to the university.

"We think these changes can make a difference for students who have been considering college but have been hesitant because of costs," he said. "We urge anyone interested in finding out more about these changes to contact us and find out just how affordable a K-State education is."

Along with changes to the student loan programs, Moeder said the federal government also is making it easier for K-State students who want to teach. K-State is participating in the Teacher Education Assistance for College and Higher Education -- or TEACH -- grant program.

Moeder said a TEACH grant can provide up to $4,000 annually in aid to undergraduate and graduate students who plan to teach such subjects as math, science or other high-need courses in low-income areas.

More information on the TEACH grants and changes in the federally guaranteed student loan program are available by contacting K-State's office of student financial assistance at 785-532-6420.

More information on admission to K-State, academic programs, housing, financial assistance and more is available at http://consider.k-state.edu