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 rejecting
the loan altogether by indicating so on your financial
aid award letter. If you are rejecting or reducing
the amount of the loan, please provide your initials
next to the change. 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 tohttp://studentaid.ed.gov/
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.