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  • KU Endowment is an independent, nonprofit corporation serving as the official fund-raising and fund-management organization for the University of Kansas. It was established in 1891 for the sole purpose of providing support for KU.

    Through the years, many KU alumni and friends have made gifts to KU Endowment for the purpose of providing low-interest loans to deserving students. KU Endowment administers these loan funds to ensure maximum financial assistance at a minimum cost to students. Loans are available to students at all four KU campuses — Lawrence, Kansas City, Wichita and Overland Park. These loans are repaid directly to KU Endowment, and these payments are re-issued in the form of new loans to assist succeeding generations of students at KU.

    Click to the links below to read more:
    Qualifications
    Loan amounts
    Co-signer requirements
    Repayment terms
    Interest
    Special provisions/other information



     

    Qualifications

    KU Endowment offers long-term loans to students who are currently enrolled at KU in a degree seeking program.

    Continuing and returning students must have an overall grade point average of at least 2.0. Transfer students who have never attended KU must have a 2.5 GPA. Freshman students (with a 3.0 high school GPA) beginning their first semester at KU are eligible to apply for an endowment loan.  Refer to the Loan Amounts section for limits and disbursement information.

    Long-term loans may not exceed the student's cost of attendance as determined by the Office of Student Financial Aid. Short-term loans may be an option for students not meeting the above criteria. If you are in need of a short-term loan, please call the KU Endowment Office at 785-832-7450.

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    Loan Amounts

    Loan amounts are contingent upon the availability of sufficient loan funds and are assigned according to the following criteria. Students may submit applications for the upcoming academic year beginning on July 1.  Loans will be disbursed in two equal disbursements, the first disbursement will be scheduled in August, and the second disbursement will be scheduled in January.  Spring disbursements are contingent upon students continued satisfactory academic progress for the prior semester.  If students do not apply for a fall/spring loan prior to the start of the fall semester they may apply for a semester only loan, or a fall/spring loan depending on their financial needs.  Please contact the KU Endowment Loan Office if you have questions regarding your eligibility for an endowment loan.

    Lawrence / Edwards Campuses
    Undergraduate freshman - $3,500 freshman academic year
              ($1,500 fall disbursement amount, and $2,000 spring disbursement amount)
    Undergraduate - up to $4,000 per academic year - $7,500 overall maximum
              ($2,000 fall disbursement amount, and $2,000 spring disbursement amount)
    Graduate - up to $5,000 per academic year - $9,000 overall maximum
              ($2,500 fall disbursement amount, and $2,500 spring disbursement amount)
              (includes amounts borrowed as an undergraduate)

    International Undergraduate - $1,300 maximum
    International Graduate - $1,500 maximum

    Summer semester loan limits
    Undergraduate enrolled in 3 hours - $1,000
    Undergraduate enrolled in 6 hours - $2,000
              (undergraduate students may not exceed $4,000 in fall/spring/summer loans combined)
    Graduate enrolled in 3 hours - $1,500
    Graduate enrolled in 6 hours - $2,500
              (graduate students may not exceed $5,000 in fall/spring/summer loans combined)
              (includes amounts borrowed as an undergraduate)

    KU Medical Center

    Undergraduate - up to $4,000 per academic year - $7,500 overall maximum
              ($2,000 fall disbursement amount, and $2,000 spring disbursement amount)
    Graduate - up to $5,000 per academic year - $9,000 overall maximum
              ($2,500 fall disbursement amount, and $2,500 spring disbursement amount)
              (includes amounts borrowed as an undergraduate)

    Medical Students -up to $5,000 per academic year
 - $20,000 maximum overall

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    Co-signer requirements

    KU Endowment does not require a co-signer for students whose annual income is $25,000 or more. For students earning less than this amount, a co-signer is required. Student borrowers and co-signers must be at least 18 years of age. Co-signers cannot be KU students and must earn at least $25,000 a year. By signing the promissory note, the co-signer assumes full liability for repayment of the loan in the event of the borrower’s default. Past-due statements will be mailed to the co-signer if the borrower becomes delinquent in making loan payments.

    In unusual circumstances, the co-signer requirement may be waived by KU Endowment after special consultation with the student.

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    Repayment terms

    Long-term loan repayment terms
    Most loans issued by KU Endowment are long-term loans. Terms and conditions of repayment for long-term loans will be set forth in a separate payment schedule and disclosure statement that is agreed to by both borrower and co-signer.

    Student borrowers will be invited to KU Endowment's Loan Exit Program approximately 6 weeks prior to their graduation date.  During this informational program KU Endowment loan staff members will provide each student borrower with a payment schedule and disclosure statement.  For student borrowers not in attendance the loan repayment information will be mailed.  The loan repayment information is also mailed to each co-signer.  For students exiting the university prior to graduation, their loans will also enter repayment approximately 5 months from the end of the last semester attended.  These students will also receive an invite to the loan exit program.

    For Lawrence or Edwards Campus students, loan repayment will begin on the first day of the fifth month following graduation. For undergraduate or graduate students in KU Medical Center’s School of Nursing or School of Health Professions, loan repayment will begin one year after graduation. Medical student loans may be deferred until completion of internship or residency programs.

    The sum of all the KU Endowment loans advanced to the borrower (excluding short-term loans), as well as the accrued interest, will be consolidated for repayment purposes, and may be repaid in equal installments of no less than $50 per month for a maximum of ten years. Borrowers may repay all or part of the principal and accrued interest at any time without penalty.

    In the event that a borrower ceases to be regularly enrolled before graduating from KU, loan repayment will begin on the first day of the fifth month following the last semester of attendance.

    Short-term loan repayment terms
    Short- term loans are offered on a case-by-case basis to students who do not qualify for long-term loans, who do not have a co-signer or who need an emergency loan. Repayment of all short-term loans is due within one year of disbursement. However, if the borrower graduates within the year of disbursement, the due date will be established one semester prior to graduation.

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    Interest and penalty charges

    The annual interest rate on student loans is 5 percent from the date of issue to maturity. Delinquent loans are subject to a 14 percent annual interest rate. KU Endowment may assess a late penalty charge equal to 20 percent of the fixed payment amount for each late installment payment for long-term loans. A late fee of $10 may be assessed each month for short-term loans that are not paid in full by the maturity date.

    If the borrower fails to make a scheduled payment, the entire unpaid balance of the loan, including interest due and any applicable fees, may become immediately due and payable. A hold will be placed on the borrower's transcript, and re-enrollment at KU will not be allowed until the unpaid balance is paid in full.

    Borrowers also are responsible for fees assessed for insufficient fund payments, delinquency letters and phone calls. In the event the borrower defaults on the loan, the borrower will be responsible for all costs and fees associated with any collection activity as permitted by federal and state laws.

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    Special provisions/other information

    Any unpaid indebtedness on a KU Endowment loan shall be canceled in the event of the borrower’s death.

    Other providers of federal student loans currently do not consolidate federal  student loans with private loans (KU Endowment loans).

    For questions regarding the KU Endowment Loan Program, contact the KU Endowment Loan Office.

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