Student Loans Information
Direct Loans are made to students attending school at least half time. The U.S. Department of Education is the lender but the school will disburse the loan(s).
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Direct Subsidized Loans are based on financial need, as determined under federal regulations. The interest is paid by the government until the time you go into repayment
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Direct Unsubsidized Loans are not based on financial need. The interest accrues until loan is paid.
Students can receive both types of loans in an academic year. There are loan limits based on your academic level, your status, receipt of other aid, and your cost of attending school. Loan limits for an academic year for Graduate students are $8,500 for subsidized and $12,000 for unsubsidized if you have not exceeded the aggregate limits.
Please be aware of your debt load coming into LTSS as well as what you might accumulate while attending here. If you are not aware of what you owe, contact your lender/servicer or contact the Financial Aid Office for assistance. Budget wisely.
Also on this web site, we have a Cost of Attendance Budget that LTSS uses for calculating loan limits. Please use it to personalize your expenses. Or, you can access the government budget calculator.
If you have not done so already, please complete your FAFSA if you are expecting loans or have requested LTSS scholarships.
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Scholarship request forms are located online here.
- Loan requests are processed online here. You will receive your award letter electronically from the VFAO. Please remember to sign your master promissory note, either on the VFAO site or the link below. Be sure to sign the promissory for subsidized/unsubsidized loans, not Graduate Plus loans. You will need your FAFSA pin number for the signing. Also at the same government web site you will need to complete the entrance counseling if you are obtaining loans.
Student Loan Disbursement dates for loans for 2010-11 is as follows:
Summer Greek July 13, 2010
Fall Semester September 22, 2010
Spring Semester January 10, 2011
The Financial Aid Office is available for assistance in all financial matters/concerns. Volunteer financial advisors are available upon request. Contact Mr. Ron Walrath, Vice President for Development, at 803-461-3237 or rwalrath@ltss.edu
