Lakeland College

Student/Parent Loans | Graduate Loans

Student/Parent Loans — Evening & Online Program

If you accepted a loan on your Award Letter, there are a couple of steps that need to be completed prior to your loan(s) being disbursed to your tuition account. These steps include completing loan entrance counseling (first-time borrower) and completing the Master Promissory Note (MPN). All Stafford loans will be borrowed from the U.S. Department of Education through the Federal Direct Loan Program. Click on the following links to complete the requirement(s) for you Federal Direct Loan:

1. Loan Entrance Counseling (for first-time federal loan borrowers)

2. Master Promissory Note (MPN)

Parent Federal PLUS Loan 2012-2013
     Applicable to Fall 2012, Spring 2013 & Summer 2013.  

The Federal Parent PLUS Loan provides loans to parents of dependent students attending post-secondary schools. All loan funds received under the program must be used to pay for the cost of attending a post-secondary school.

Parents can apply for instant pre-approval online and complete the Master Promissory Note for the PLUS loan online.  Specific directions are available by clicking here.  If you do not have online access, please contact the financial aid office.  Please be aware that credit check/loan approval is only valid for 90 days. 

The Financial Aid Office will be notified of the credit decision.  If the application is approved, the Financial Aid Office will certify the PLUS loan.  If a parent is denied a PLUS loan, the student's financial aid package will be reviewed to determine if there is additional Federal Direct Unsubsidized loan eligibility.  A revised award letter will be completed.

Parent Federal PLUS Loan 2013-2014
     Applicable to Fall 2013, Spring 2014 & Summer 2014.  

The Federal Parent PLUS Loan provides loans to parents of dependent students attending post-secondary schools. All loan funds received under the program must be used to pay for the cost of attending a post-secondary school.

Parents can apply for instant pre-approval online and complete the Master Promissory Note for the PLUS loan online.  Specific directions are available by clicking here.  If you do not have online access, please contact the financial aid office.  Please be aware that credit check/loan approval is only valid for 90 days. 

The Financial Aid Office will be notified of the credit decision.  If the application is approved, the Financial Aid Office will certify the PLUS loan.  If a parent is denied a PLUS loan, the student's financial aid package will be reviewed to determine if there is additional Federal Direct Unsubsidized loan eligibility.  A revised award letter will be completed.

Alternative Loans

Students are recommended to exhaust all federal loan options first. If additional funding is needed, alternative loans are a source of non-federal educational loans available through a variety of national lending institutions. Minimum and maximum amounts to borrow may vary by program, but all require a satisfactory credit history for approval. These loans have their own application processes which are available online. Download this pdf for more information.

Exit Counseling

Federal regulations require students who have borrowed through a federal loan program to participate in an exit counseling session after they are no longer enrolled. You may complete this requirement on the Internet. You will need your Department of Education (FAFSA) PIN number to complete exit counseling.

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Student Loans — Graduate Program

If you accepted a loan on your Award Letter, there are a couple of steps that need to be completed prior to your loan(s) being disbursed to your tuition account. These steps include completing loan entrance counseling (first-time borrower) and completing the Master Promissory Note (MPN). All Stafford loans will be borrowed from the U.S. Department of Education through the Federal Direct Loan Program. Click on the following links to complete the requirement(s) for you Federal Direct Loan:

1. Loan Entrance Counseling (for first-time federal loan borrowers)

2. Master Promissory Note (MPN)

Federal Grad PLUS Loan 2012-2013
     Applicable to Fall 2012, Spring 2013 & Summer 2013.

Students can now apply for instant pre-approval for the Grad PLUS loan online. To apply for the Federal Grad PLUS loan, click on this link: Grad PLUS Pre-Approval and MPN. The Financial Aid Office will be notified of the credit decision. If the application is approved, the Financial Aid Office will certify a Grad PLUS loan. If you do not have online access, please contact the financial aid office.  Please be aware that the credit check/loan approval is only valid for 90 days.  For more information and instructions on how to apply, click here.  
 

Federal Grad PLUS Loan 2013-2014
     Applicable to Fall 2013, Spring 2014 & Summer 2014.

Students may apply for instant pre-approval online (recommended) and complete the Master Promissory Note for the PLUS loan online.  The application is anticipated to be available after May 1, 2013.  To apply for the Federal Grad PLUS loan, click on this link:  Grad PLUS Pre-Approval and MPN.  The Financial Aid Office will be notified of the credit decision.  If the application is approved, the Financial Aid Office will certify a Grad PLUS loan.  If you do not have online access, please contact the financial aid office.  Please be aware that the credit check/loan approval is only valid for 90 days.  For more information and instructions on how to apply, click here.     

Graduate Alternative Loans

Students are recommended to exhaust all federal loan options first. If additional funding is needed, alternative loans are a source of non-federal educational loans available through a variety of national lending institutions. Minimum and maximum amounts to borrow may vary by program, but all require a satisfactory credit history for approval. These loans have their own application processes which are available on-line. More information is available in this pdf.

Graduate Exit Counseling

Federal regulations require students who have borrowed through a federal loan program to participate in an exit counseling session after they are no longer enrolled. You may complete this requirement on the Internet. You will need your Department of Education (FAFSA) PIN number to complete exit counseling.