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Loan Borrowing

Loans are funds borrowed to assist with educational expenses. All loans must be repaid after completion of school. In order to ensure successful repayment, students must always borrow responsibly. Please visit the forms page for a budget worksheet that will assist with determining the responsible amount to borrow.

LCC participates in the following loan programs:

Federal Direct Subsidized and Unsubsidized Stafford Loans

Federal Direct PLUS Loans

Private (Alternative) Loans

Federal Direct Subsidized and Unsubsidized Stafford Loans

Students are the borrower of Federal Direct Subsidized and Unsubsidized Stafford Loans (FDL). The lender is the U.S. Department of Education (DOE). Visit Student Loans for information including definitions, interest rates and loan limits.

    How to Apply:  
  1. Submit the Free Application for Federal Student Aid (FAFSA) by the Priority FAFSA File Date.
  2. Review Financial Aid Status via myLCC and complete any requested requirements by the Priority Document Submit Date.
  3. View financial aid awards and Accept/Decline student loans via myLCC.
  4. If a first time borrower at LCC, complete Entrance Counseling and a Master Promissory Note(MPN).
  5. Refer to Student Finance for how to receive financial aid refunds using the Lansing CC Debit Card and the requirement for signing up every semester for the FACTS Payment Plan.
    Important Information:
  • Students must be actively enrolled at least half-time, six (6) credits, during the semester the student receives FDL. This includes being enrolled in six (6) credits during summer semester even though the College's definition for half-time is only three (3) credits.
  • Students must meet all Basic Eligibility Requirements, including meeting Satisfactory Academic Progress.
  • If the student has earned fewer than 30 credits (including transfer credits) and has never borrowed a federal loan, federal regulations require that the first loan disbursement be delayed until the 31st day of the first semester funds are borrowed.
  • If the FDL is for one semester only, federal regulations require loans to be disbursed in two equal payments with the second disbursement not being prior to the mid-point of the semester. View anticipated disbursement dates via myLCC.
  • After graduation, or dropping below half-time attendance, complete Exit Counseling.
  • The DOE has many servicers who students will interact with during the course of receiving and repaying loans. For students to determine which servicer(s) their loans have been assigned, access the National Student Loan Database (NSLDS). At NSLDS, all FDLs received are viewable.
  • For additional information regarding repayment, please visit LCC's partner, EdFinancial.

Federal Direct PLUS Loans

The parent of a dependent student is the borrower of a Federal Direct PLUS Loan (PLUS Loan). PLUS Loans are based on the parent's credit. The lender for a PLUS Loan is the US Department of Education (DOE). Visit PLUS Loan for information including interest rates, the credit-check process and loan limits.

    How to Apply:
  1. Submit the Free Application for Federal Student Aid (FAFSA) by the Priority FAFSA File Date.
  2. Review Financial Aid Status via myLCC and complete any requested requirements by the Priority Document Submit Date.
  3. View financial aid awards and accept/decline student loans via myLCC.
  4. To borrow a Federal Direct PLUS Loan, the parent borrower and student must submit the Federal Direct PLUS Loan Application.
  5. The parent borrower must sign a Master Promissory Note (MPN) (be sure to choose Parent PLUS for the type of MPN to be signed)
  6. Refer to Student Finance for how to receive financial aid refunds using the Lansing CC Debit Card and the requirement for signing up every semester for the FACTS Payment Plan.
    Important Information:
  • The DOE makes the decision regarding a parent's creditworthiness for the PLUS Loan.
    • Students whose parent has been denied a Federal Direct PLUS Loan based on credit may qualify for additional Federal Direct Unsubsidized Stafford Loans. To request the additional Federal Direct Unsubsidized Stafford Loan funds, complete the Aid Alteration Worksheet.
    • Parents denied based on credit may choose to get an Endorser (co-signer) or appeal the credit decision. To begin the endorser or appeal process, call (517) 483-1200, select option 2, and ask for a loan specialist.
  • Students must be actively enrolled at least half-time, six (6) credits, during the semester the student receives FDL. This includes being enrolled in six (6) credits during summer semester even though the College's definition for half-time is only three (3) credits.
  • If the PLUS Loan is for one semester only, federal regulations require loans to be disbursed in two equal payments with the second disbursement not being prior to the mid-point of the semester. View anticipated disbursement dates via myLCC.
  • The DOE has many servicers who student and parent borrowers will interact with during the course of receiving and repaying loans. For borrowers to determine which servicer their loans have been assigned, access the National Student Loan Database (NSLDS). At NSLDS, all FDLs received are viewable.
  • For additional information regarding repayment, please visit LCC's partner, EdFinancial.

Private (Alternative) Loans

Private (Alternative) Loans are credit-based student loans offered by private lenders. They are available to students who need funds in addition to their federal aid to meet educational expenses or for those students not eligible for federal aid. Visit Private (Alternative) Educational Loans, for additional information.

    How to Apply:
  1. Choose a lender and access the lender's website for application process.
  2. Submit the Private (Alternative) Loan Self-Certification Form to LCC.
  3. Monitor Student Requirements via myLCC and LCC email.
  4. Once notified via myLCC, sign the Private (Alternative) Loan check at Student Finance.
  5. Refer to Student Finance for how to receive financial aid refunds using the Lansing CC Debit Card and the requirement for signing up every semester for the FACTS Payment Plan.
    Important Information:
  • Students must thoroughly investigate all funding options and lender differences prior to applying for a Private (Alternative) Loan.
  • Below is a list of lenders used by other LCC students over the last three academic years. LCC does not promote, endorse or recommend the education loan products of these lenders. LCC will process a loan application from any lender. Students can obtain information on other lenders by conducting an internet search.
  • When choosing a lender, students should be mindful of the following:
    • Variable vs. Fixed Interest Rates
    • Delayed Repayment (in-school deferment) vs. Immediate Repayment
    • Application, Processing, and Disbursement Fees
    • Flexible Repayment Options
    • Repayment Incentives
    • Consolidation Options

Financial Aid at Lansing Community College

Financial Aid Office
TLC Bldg, Room 127
Phone: (517) 483-1200
Additional contact information »

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Office Hours
Monday - Thursday: 8am – 6pm
Friday: 8am – 4pm

School Code: 002278