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KATS
:: Student Services : Financial Assistance
Kaw
Area Technical School (KATS) has several programs available to help students
finance their education. All students interested in applying for Federal
Financial Aid must complete the Free Application for Federal Student
Aid. Students may either complete this application on line at www.fafsa.ed.gov
or they may obtain a paper application form by contacting the KATS Financial
Aid Officer. KATS School Financial Aid Code is 010689.
To be eligible
to receive aid from the Federal Financial Aid programs, students must:
- Have a
financial need (except for unsubsidized Stafford loans)
- Have a
high school diploma or GED
- Be enrolled
in an eligible program working toward a certificate/diploma
- Be a U.S.
citizen or eligible non-citizen and have a valid Social Security number
- Make satisfactory
academic progress (See Link)
- Be registered
with the Selective Service, if required
- Not owe
a refund on a Federal Grant or be in default on a Federal loan.
The Federal
financial assistance a student receives must be used by the student to
meet educational expenses while attending Kaw Area Technical School.
Students enrolled in programs that are shorter than 600 clock hours, are
NOT eligible for a pell grant. The student may apply for a Federal loan
IF the programs completion and placement rate for the prior year were
at least 70%. If one or both of the rates were below 70%, no financial
aid is available to students in that program.
Lender Selection form :
 Word  PDF
Grants
and Loans
Federal
Pell Grant
A Federal Pell Grant, unlike a loan, does not have to be repaid. The
student’s eligibility for these funds is determined by the student’s
Estimated Family Contribution (EFC) number, cost of attendance (COA),
enrolled status (full-time, part-time; full year or less) in an eligible
program, and program funding. A student is not eligible if they have already
received a bachelor's degree. Pell Grant funds are first credited against
tuition and book costs as authorized by the student. Any remaining funds
are paid directly to the student to be used for other related educational
expenses.
Federal
Family Educational Loan Program
Under the FFELP loan program, there are three kinds of loans. Loan
Monies are first credited against tuition and book costs as authorized
by the student. Any remaining funds are paid directly to the student to
be used for other related educational expenses.
Federal
Stafford Loans (Subsidized/Unsubsidized)
A
student must complete the FAFSA as well as a master promissory note
to apply for a subsidized or unsubsidized Stafford loan. The lender
of the loan is selected by the student and listed on the master promissory
note. KATS participates with three (3) preferred lenders. They are:
1.
Commerce Bank and Trust, lender code 804435
2. Capitol
Federal Savings, lender code 830511
3. Bank of America, lender code 806746
The
aggregate loan limit is $46,000 of which no more than $23,000 may be
received from the subsidized loan program.
Repayment on either loan begins six months after the student ceases
to be enrolled at least halftime. The minimum monthly payment is $50
per loan and the interest rate is variable with a cap of 8.25%.
The lender charges student loan borrowers a 3% origination fee on both
the subsidized and unsubsidized loan programs. Beginning April 1, 2004,
USA Funds, the Kansas student loan guarantor reinstated the loan guarantee
fee. Loans certified from April 1, 2004 to October 31, 2004 will be
charged 1/2% of the gross loan amount. On November 1, 2004, the origination
fee will increase to 1% for all loans certified on or after that date.
Fees are deducted proportionally from each student loan disbursement.
Subsidized
Stafford Loan-
The subsidized loan program is available to both dependant and independent
students. The subsidized Stafford loan is based on financial need. If
a student's financial need is not great enough, he/she may not be eligible
for the entire amount of the subsidized Stafford loan. In this situation
the amount not received in the subsidized Stafford loan may be received
in the unsubsidized Stafford loan program.
Use the following formula to calculate student financial need:
Cost of Attendance - EFC = subsidized eligibility
The maximum amount a student can borrow per academic year under the
subsidized loan is $2,625. Under this loan program the government pays
the interest due on the subsidized loan until the student enters repayment,
six months after ceasing at least half-time enrollment.
After the subsidized Stafford eligibility is established, the unsubsidized
Stafford loan can be used to offset all or part of the expected family
contribution.
Unsubsidized
Stafford Loan- The unsubsidized loan program is only available to
independent students or dependant students who do not qualify for the
entire subsidized amount. This loan program is also available to dependant
students whose parents have been denied for a PLUS loan. When determining
eligibility for an unsubsidized Stafford loan, subtract the student's
estimated financial assistance from the COA. Eligibility for this loan
program is not based on financial need; therefore, the EEC is not used
in the calculation of eligibility. When calculating the student's total
amount of financial assistance, consider Pell Grants, state aid, veterans
benefits, scholarships, and any other Federal financial aid for which
the student may be eligible, even if the student has not yet applied
for the aid.
The maximum amount per academic year for the unsubsidized loan is $4,000.
Under this loan program the student is responsible for interest that
accrued from the date of the first disbursement.
Subsidized and Unsubsidized Loan Periods - The student's loan
period begins on the first day of class and ends on the last day of
his/her second semester. A part time student attending for four semesters
may have two loan periods; however, he/she still completes only one
academic year. Part time students may choose to receive the full amount
of the loan proceeds during the first school year or divide the amount
over both school years.
Federal
Parent Loan for Undergraduate Students (PLUS)
The
PLUS loan program is available to parents of dependant students. The student
must complete the FAFSA and the parent must complete a master promissory
note to apply for this loan. The lender of the loan is selected by the
parent and listed on the master promissory note. KATS participates with
three (3) preferred lenders. They are:
1. Commerce Bank and Trust, lender code 804435
2. Capitol
Federal Savings, lender code 830511
3. Bank of America, lender code 806746
An eligible parent borrower for a Federal PLUS loan is a student's natural
mother or father, adoptive parent, or legal guardian. An eligible parent
borrower must meet the same citizenship or residency requirements that
a student borrower is required to meet.
This loan program does not have annual or aggregate loan limits on the
amount a parent may borrow. However, the loan may not exceed the student's
estimated cost of attendance (COA) minus all estimated financial assistance
the student has been awarded.
Repayment of the loan begins 60 days after the first disbursement has
been made. The government does not provide an in-school interest subsidy
on this loan. In addition, 3% of the gross loan amount is deducted proportionally
from each student loan disbursement to pay for the origination fee.
Beginning April 1, 2004, USA Funds, the Kansas student loan guarantor
reinstated the loan guarantee fee. Loans certified from April 1, 2004
to October 31, 2004 will be charged 1/2% of the gross loan amount. On
November 1, 2004, the origination fee will increase to 1% for all loans
certified on or after that date. Fees are deducted proportionally from
each student loan disbursement.
Veteran Affairs Benefits (VA)
Montgomery GI Bill-Active Duty -- This education benefit, also known
as Chapter 30, is available to any man or woman who was honorably discharged
from the military and completed his/her high school education. The VA
office determines eligibility for this program. If a student has questions
regarding eligibility of this program he/she should visit the web site
address -- www.gibill.va.gov.
Monthly entitlements increase every year on October 1st with the Consumer
Price Index increase. The rates may increase at other times by an act
of Congress. Current monthly entitlement amounts are listed at www.gibill.va.gov/News/ch30rates110100.htm.
A student may qualify for increases above the basic monthly rates. The
additional money is referred to as a "kicker". The Wichita VA
office and the VA website have information regarding who qualifies for
"kickers".
A student has 10 years from the date of the student's last discharge or
release from active duty to take advantage of this benefit. Each student
may be entitled to receive up to 36 months of education benefits under
this program.
Students must maintain satisfactory progress in order to receive this
education benefit.
Montgomery GI Bill-Selected Reserves -- This program is also known
as Chapter 1606. It is for members of the Selected Reserve, including
the Army, Navy, Air Force, Marine Corps. and Coast Guard Reserves, the
Army National Guard and the Air Guard. The Reserve components decide who
is eligible for the program. This bill provides up to 36 months of education
benefits.
Veteran's Educational Assistance Program-VEAP -- Veteran's who
first entered active duty between January 1, 1977 and June 30, 1985 were
able to voluntarily contribute to an education account to establish eligibility.
The initial contribution must have been made by March 31, 1987. The maximum
contribution for each participant is $2,700. Department of Defense funds
equal to twice the contribution are added to the veteran's account. Veterans
have 10 years from the date of release from active duty to use VEAP benefits.
Dependent Educational Assistance Benefits -- This program, also
known as Chapter 35, provides education benefits for the spouse and dependent
children of veterans who are permanently and totally disabled from service
connected causes, veterans who died in service or who died of service
connected causes, and certain other veterans and servicepersons, such
as those currently missing in action or captured in the line of duty.
The VA Rating Board determines eligibility for these benefits. This program
provides up to 45 months of education or training.
Vocational Rehabilitation -- VA's Vocational Rehabilitation and
Employment (VR & E) program helps veterans with service-connected
disabilities by offering them services and assistance to help them prepare
for, find, and keep suitable employment.
VA GI Bill Application Process
A student
applies for VA benefits by completing the "Application for VA Education
Benefits", form 22-1990 for Chapter 30, or form 22-5490 for Chapter
35. The student must submit the application along with his/her honorable
discharge paper, DD214, or if they are/were a reservist, a Notice of Basic
Eligibility (NOBE), to the Central Regional Office. After the VA office
has processed the application the student receives a "Letter of eligibility"
indicating which benefit he/she is entitled to. A copy of this letter
must be turned in to the Financial Aid office.
When the student begins classes at KATS, the FAO completes an "Enrollment
Certification", form 22-1999 and mails it to the Central Regional
Office in St. Louis. After the VA office processes this form, the VA payments
are sent directly to the student. KATS does not participate in VA advanced
payments.
All students who are receiving either the Montgomery GI Bill Active Duty
or Selected Reserve must verify their enrollments monthly to receive payments.
The verification can be done either by using the Web Automated Vertification
of Enrollment (WAVE) application or by using an automated telephone system
(IVR) at 1-877-823-2378 and follow the prompts.
The WAVE program can be accessed by a link at the VA Internet site --
www.gibill.va.gov. The first time someone uses WAVE the password is the
last six digits of their social security number.
If the student withdraws or changes enrollment status, the FAO completes
a "Notice of Change in Student Status", form 22-1999b, and submits
it to the office in St. Louis.
VA Regional Office
PO Box 66830
St. Louis, MO 63166-6830
Scholarships
Kaw Area Technical School has a variety of scholarship opportunities
available to students. Each scholarship has specific criteria of eligibility
and specific deadlines for application. Most scholarships are available
for application between January and May for the upcoming fall/spring semesters.
Any student interested in scholarship opportunities should contact the
Financial Aid Officer.
Other
Sources of Aid
Various other organizations and agencies provide assistance to
students. These include SRS, Heartland Works, Jones Foundation, Vocational
Rehabilitation, Department of Human Resources, and the Bureau of Indian
Affairs.
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