Kenyon Institutional Loans are charged at a five percent interest rate per annum beginning when the loan is issued and continuing until each loan reaches its designated due date.
If the loan is not paid in full the interest rate increases to eight percent per annum until the loan is paid in full. Interest is determined based upon the current principal amount due on the first of each month. It is not compounded with current interest already accrued. Please note that Kenyon does have a few loans which are not charged a monthly interest rate.
Kenyon Institutional Loan statements are mailed every quarter. They are sent at the beginning of January, April, July and October.
If you do not receive a statement when anticipated, please contact the Student Accounts Coordinator as soon as possible.
Please refer to the Loan Statement Explanation for a helpful explanation of how to read your statement