Loans

Direct Loans

Federal Direct Loans are available through the William D. Ford Federal Direct Loan Program.  In order to apply for Direct Loans students must complete the FAFSA form. First-time borrowers at LSCO must also complete an online entrance counseling session.

Direct Loans must be repaid. Direct Loans are either subsidized or unsubsidized. A subsidized loan is awarded on the basis of financial need. The federal government pays interest on the loan ("subsidizes" the loan) until repayment begins and during authorized periods of deferment. An unsubsidized loan is not awarded on the basis of need. Interest is charged from the time the loan is disbursed until it is paid in full.  To receive a direct loan, you must be enrolled at least half-time (six credit hours).

Students with previous loans should remain with the same lender.