Students are automatically considered for a Kendall Loan as a part of their need-based financial aid application. If you are awarded a Kendall Loan, you will have the opportunity to decline it prior to disbursement.
Eligibility
Kendall Loans may be awarded to students who are US Citizens, eligible for Federal Student Aid (most domestic students), and have demonstrated financial need.
Interest Rate
3%
Subsidies
Interest does not accrue on a Kendall Loan while a borrower is enrolled in school at least half-time. The borrower will be responsible for paying interest that accrues while the loan is in repayment. Interest continues to accrue during periods of forbearance, but the student will not be required to make interest payments during the forbearance; the accumulated interest will be added to the principal balance of the loan when repayment resumes.
Repayment
Once a student stops attending school at least half-time, the loan will need to be repaid. Kendall Loans are repayable over a period of up to ten years.
