UPDATE! 2022-2023 Changes to Origination Fees
There will be no change to the Origination Fees for Direct Loans in 2022-2023. The fee will remain at 1.057% for the Federal Unsubsidized Loan, and 4.228 % for the Federal Graduate PLUS Loan for loans disbursed on or after October 1, 2022 and before October 1, 2023.
Origination Fees are a percentage of each student loan amount you accept on your myIIT portal charged by the federal government. What is applied to your Chicago-Kent student account is the Net Amount (Gross Amount less Origination Fees).