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Student Loans

Student loans are an excellent resource to assist in

paying for one’s education. The Federal Direct Stafford

Loan is the most widely used education loan sponsored

by the U.S. government. If you have been offered a

student loan as part of your financial aid package,

you have the option of reducing or refusing the loan

altogether by indicating so on your financial aid award

letter. If you are refusing or reducing the amount of the

loan, please provide your initials next to the change and

return a copy of the award letter to the Financial Aid

Office. If you do not change the loan amount, it will be

processed for the amount offered. Declining a loan will

not affect any other portion of your financial aid award.

All loans MUST BE REPAID whether or not the loan

recipient completes his or her academic

program. Students must be aware of their rights and

responsibilities if they decide to participate in the

student loan programs.

Subsidized Stafford Loan

(for interest rate go to


A subsidized Stafford Loan is a need-based loan. The

interest on this loan is paid by the government while

you are in school. Lycoming determines eligibility for the

subsidized Stafford Loan based on your FAFSA data.

Eligibility for the subsidized loan may change if you

receive additional non-college aid that was not known by

the College at the time the award notice was printed, or

if corrections, which change the EFC, are made to

the FAFSA.