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Credit-worthy parents may borrow up to the cost of

attendance for which the student is eligible. Parents can

apply for this loan at

www.StudentLoans.gov

.

Parent borrowers are charged a fee that goes to the

federal government to help reduce the cost of this

program. The fee is deducted from the amount your

parents borrow before the College receives the funds.

Go to

http://studentaid.ed.gov/types/loans/interest-rates

for the fee amount.

Loan funds are sent to the College in two

disbursements, half for the fall semester and half for the

spring semester.

Repayment begins within 60 days after the loan is

fully disbursed. There is no grace period with this

loan. Terms of repayment includes 10-year repayment,

which may be extended under certain circumstances.

There is no penalty for early payment, and outstanding

loans can be consolidated into one monthly payment.

Parents also have the option of deferring payments

or making interest-only payments while the student is

enrolled in school. The PLUS Loan also provides a built-

in insurance for death and disability that applies to both

the borrower and student at no additional cost.

If your parents have any questions regarding the

Parent Plus Loan process, please have them contact

the Financial Aid Office for more information.

Monthly Payment Plan

Lycoming is pleased to offer families the opportunity

to meet educational expenses through a plan provided

by a third party, Nelnet. The monthly payment plan is

designed to relieve payment pressure by allowing families

to spread the cost over each semester.

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