Students and parents may have questions or
concerns not addressed within this material. All
students and parents are encouraged to contact the
Financial Aid Office regarding any financial aid issue
that may arise.
Financial Aid Office
Monday – Friday 8 a.m. – 4:30 p.m.
(570) 321-4040 or 1-800-345-3920
You may contact Nelnet at 800-609-8056 to
obtain personal financing counseling, a Payment Plan
application or additional information. Visit their
website at:www.mycollegepaymentplan.com/lycoming .
Private Alternative Loans
Note: We encourage all students to consider federal
student loans before seeking private alternative loans.
In most cases, the federal interest rates and repayment
terms are more favorable.
Many loan programs are available for families who
are ineligible for financial aid or those who need
additional funds for their educational expenses. These
alternative sources may be a line of credit extended
to the family for four years or a supplemental loan
processed on a yearly basis.
In most cases, eligibility for alternative loans is
based on the personal credit history and financial
circumstances of the family. Since a credit rating is a
required part of the loan approval process, the parent
is usually the cosigner for this type of loan. If a parent
is willing to cosign a Private Alternative Loan they
may want to strongly consider the Parent PLUS Loan
since the terms are often more favorable than Private