Applying for loans may seem confusing at first because college loans can come from a number of sources. Loans are either direct student loans (government-based) or private. No matter which type of loan, you should start the application process four to six weeks prior to the start of your academic term.

Direct Loans

Direct loans come from the Federal Education Loan Programs. They can be either need-based loans (Direct Federal Subsidized Loans) or non-need based (Direct Federal Unsubsidized Loans, Direct Plus Loans, and Direct Consolidated Loans).

Learn more about the Federal Education Loan Program

Private Student Loans

Private Student Loans are loans offered by non-government financial institutions specifically to assist in the cost of attending college. Kettering University uses strict criteria based on your interests and not those of our institution when determining which lenders to include in our private loan information. We recognize only those lenders who provide you with exceptional customer service; excellent incentives, timely processing, and electronic funds transfer capabilities when possible. However, you are free to select any lender you choose, including those not presented on our lender list.

You should make sure you have exhausted all of your federal financial aid options by completing the FAFSA before deciding to apply for a private student loan. Our financial aid specialists are always available to answer any questions you might have.
(800) 955-4464 ext. 7859 or (810) 762-7859

National Student Loan Data System

The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for student aid. It receives data from schools, agencies that guaranty loans, the Direct Loan program, and other U.S. Department of Education programs. NSLDS provides a centralized, integrated view of Title IV loans and grants that are tracked through their entire cycle; from aid approval through closure.

You can use the NSLDS Student Access Web Site to make inquiries about your Title IV loans and/or grants. The site displays information on loan and/or grant amounts, outstanding balances, loan statuses, and disbursements. 

In order to use the NSLDS Student Access web site, you will need to provide your Social Security number (SSN), the first two letters of your last name, your date of birth, and your PIN (formerly known as EAC).

Federal and Private Loan Code of Conduct

To comply with the 2008 Higher Education Opportunity Act, Kettering University adopts the following Student Loan Code of Conduct to serve as the formal guiding principles in insuring the integrity of the student financial aid process. All Kettering University officers, employees and agents who have responsibilities with respect to student educational loans are required to comply with this Student Loan Code of Conduct.

No employee, officer or agent of Kettering University will have any arrangement with a lender that results in the lender paying a fee or other benefits, including a share of profits, to the school, its officers, employees or agents, in exchange for loan referrals or preferential treatment.

No employee, officer or agent of Kettering University who has responsibilities with respect to education loans or financial aid services shall solicit or accept any gift from any lending institution.

Prohibited gifts include, but are not limited to:

  • transportation
  • lodging
  • meals
  • entertainment
  • discounts
  • loans
  • favors or any other item having a monetary value of more than a de minimus amount

The law does provide for some exceptions related to specific types of activities or literature:

  • Brochures or training material related to default aversion or financial literacy
  • Food, training or informational materials as part of training as long as that training contributes to the professional development of those individuals attending the training
  • Entrance and exit counseling as long as the institution's staff are in control and they do not promote the services of a specific lender
  • Philanthropic contributions from a lender, GA or servicer unrelated to education loans
  • State education, grants, scholarships or financial aid funds administered by or on behalf of the State

No employee, officer or agent of Kettering University who has responsibilities with respect to education loans or financial aid services shall accept from any lending institution any fee, payment, or other financial benefit as compensation for any type of consulting arrangement or other contract to provide services to any lending institution relating to education loans.

Kettering University will not request or accept any offer of funds for an opportunity loan pool, in exchange for providing concessions or promises to the lender for a specific number of loans, or inclusion on a preferred lender list.

Kettering University will not request or accept any assistance with call center staffing or financial aid office staffing.

No employee of Kettering University may receive anything of value from a lender, guarantor, or group in exchange for serving on an advisory boards. They may, however, accept reimbursement for reasonable expenses incurred while serving in this capacity.

Cohort Default Rate

A cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year. 

Listed below is Kettering University’s 3-YEAR Cohort Default Rate: 

  • FY2014 = 3.0% (Michigan average is 14.4% and national average is 11.5% which includes all public, private and for-profit institutions)
  • FY2015 = 3.5% (Michigan average is 12.2% and national average is 10.8% which includes all public, private and for-profit institutions)
  • FY2016 = 4.0% (Michigan average is 11.5% and national average is 10.1% which includes all public, private and for-profit institutions)

Please refer to the Cohort Default Rate Guide for a more in-depth description of cohort default rates and how the rates are calculated.

Official Cohort Default Rates

Cohort Default Rate Guide