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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 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 to

http://studentaid.ed.gov/

types/loans/interest-rates).

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.

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