Challenges with Student Loans

Kishwaukee College received more loan applications this fall semester than the total number for last year, with 400 loans submitted in August alone, said Steve Ullrick, Vice President of Student Services.

The Financial Aid Office was closed every Wednesday and Thursday afternoon until further notice so the loans can be processed.

“Every year, we have issues with processing student loans due to so many students applying so late for a loan,” he said. “With all the walk-in traffic and phones calls that we receive in the Financial Aid Office during the month of August, we just don’t have the time to process all of these loan applications before school starts.”  

Ullrick asks that students be patient as the loans are being processed.

“Students need to understand that it takes a few days to process a loan application.  It is not something that is a 24-hour turn around even in a perfect world,” he said.

As a result of closing, 130 loans were processed that week, which meant that these students were going to receive their money in a timely manner so they could buy books, pay rent, etc., Ullrick said.

The Office has processed all loan applications received before school started and are now processing those received during the first week of school.

“We have made a huge dent in the number and could not have done it without shutting down for a couple of half days,” Ullrick said.

Ullrick doesn’t expect any changes in processing protocol as a result of this year’s increase in applications. 

“The issue is not in our process, as it has more to do with the record number of applications and large number of students applying so late,” he said. “Most everything we do in the process is require to make the loan happen.”