YOUR NEXT LOAN(S)
Federal loans are a part of Federal financial aid. Federal financial aid is applied for each year by filing the FAFSA. This can be done after Jan 1, for the upcoming academic year. At LSSU, we send annual announcements to our students to remind them to apply. Complete the FAFSA at www.fafsa.gov.
All students may be eligible for Federal aid. LSSU recommends that students borrow their maximum eligibility in Federal loans before applying for alternative loans (private education loans) because Federal loans generally have better terms, conditions and borrower benefits than alternative loans.
Alternative loans are private, credit-based education loans. Students can borrow up to their COA (Cost of Attendance) less any other aid they receive. It is strongly encouraged that students complete the FAFSA to utilize their maximum federal aid eligibility first. Alternative loans are applied for annually, directly through the lenders' web sites. Click here for more information about Alternative loans.