Lee College participates in the Federal Family Loan Program (FFELP) and will certify a loan for any lender a student chooses.  Due to changes in FFELP regulations, many lenders may not certify loans for Lee College and other 2 year schools.  Lee College does not recommend lenders to any student.  There are some lenders with low default rates and good customer service listed in our Sallie Mae profile that other students have used.  You may choose one of those lenders or add the lender ID code to your application for any other lender.  There will be no delay in processing your loan based on lender choice.  Lee College is not currently participating in any private student loans.

1. NEW AND RETURNING BORROWERS MUST Complete the FAFSA.  The FAFSA can be found at www.fafsa.ed.gov.

NEW BORROWERS TO LEE COLLEGE -

2. Complete the online loan application. Sallie Mae will ask you to do the entrance counseling before taking you to the actual loan application. New Sallie Mae borrowers should begin by creating an account.  At the end of the application you may elect to either sign the note electronically or print the promissory note and sign it and mail it to the loan servicer.  IF YOU HAVE PREVIOUS LOANS AND CHOOSE TO USE THE SAME LENDER, PLEASE CONTACT THEM DIRECTLY FOR APPLICATION INFORMATION OR HAVE THEIR LENDER CODE AVAILABLE TO ENTER ON YOUR APPLICATION.
3. Once you have completed both the entrance counseling and the loan application, Lee College will review student aid information and certify new loans for eligible loan applicants enrolled and making satisfactory progress in an approved degree or certificate program. Loans may not be certified for applicants who:
1. Are currently in default;
2. The Financial Aid Office has reason to believe they will not repay the loan or are not planning to use the loan for educational purposes.
3. Have unwillingly made loan payments on previous loans (loans subject to wage garnishment or tax refund levy);
4. Have met the aggregate loan limits;
5. Have not completed entrance counseling;
6. Discharged a previous loan due to disability or
7. Are incarcerated
4. Lee College will only certify one loan per academic grade level. Freshmen have completed 0-30 Semester Credit Hours, and sophomores have completed 31 or more Semester Credit Hours.
5. Freshman loans have an annual limit of $3500.00 and sophomore loans have an annual limit of $4500.00.  Independent students are eligible for an additional $6000 in unsubsidized loans and dependent students are eligible for $2000 in unsubsidized loan and an additional $4000 only if a Parent Loan for Undergraduate Students is denied.  Unsubsidized funds must be requested in writing.
6. As long as a student is enrolled in six semester credit hours or more, half the annual loan will be disbursed each semester if the student requests the loan for fall, spring or summer. If a student drops to less than 6 hours before a loan disbursement is issued, the funds will be cancelled and returned to the bank as an ineligible payment. 
7. The student has the right to appeal any decision in writing to the financial aid office.  The appeal letter will either be sent to the Loan Default Committee or a response will be sent to the student within 7 days if it is a regulatory issue that cannot be overturned.  Once the response from the committee is received, a letter documenting the decision will be mailed to the student within 7 days.
8. You will be notified in writing either by a revised award letter with the loan amount included or a letter indicating the committee did not accept your request.
9. If you are awarded a loan, you will also hear from the lender once the loan has been certified regarding the loan amount and when you can expect it to be disbursed to your account.  Funds will be processed by EFT directly to your student account. Please remember ALL first disbursements are subject to a 30 day delay, so the funds will not be available until 30 days after classes begin.

 

 RETURNING BORROWERS-

1. Please submit a loan recertification request form and click on the following link to complete three life skills classes of your choice.

You should use your Sallie Mae Loan Application log in information.  If your loan was done from another lender you can click new user and create a User ID and Password to complete the classes.  Please print and submit a course transcript from the Life Skills system showing your completion.
https://lifeskills.usafunds.org/lp.aspx/003583-00/43_E3R5       

2. Once you have completed both the loan recertification request and three Life Skills classes, Lee College will review student aid information and certify new loans for eligible loan applicants enrolled and making satisfactory progress in an approved degree or certificate program. Loans may not be certified for applicants who:
1. Are currently in default;
2. The Financial Aid Office has reason to believe they will not repay the loan or are not planning to use the loan for educational purposes.
3. Have unwillingly made loan payments on previous loans (loans subject to wage garnishment or tax refund levy);
4. Have met the aggregate loan limits;
5. Have not completed entrance counseling;
6. Discharged a previous loan due to disability or
7. Are incarcerated
3. Lee College will only certify one loan per academic grade level. Freshmen have completed 0-30 Semester Credit Hours, and sophomores have completed 31 or more Semester Credit Hours.
4. Freshman loans have an annual limit of $3500.00 and sophomore loans have an annual limit of $4500.00.  Independent students are eligible for an additional $6000 in unsubsidized loans and dependent students are eligible for $2000 in unsubsidized loan and an additional $4000 only if a Parent Loan for Undergraduate Students is denied.  Unsubsidized funds must be requested in writing.
5. As long as a student is enrolled in six semester credit hours or more, half the annual loan will be disbursed each semester if the student requests the loan for fall, spring or summer. If a student drops to less than 6 hours before a loan disbursement is issued, the funds will be cancelled and returned to the bank as an ineligible payment. 
6. The student has the right to appeal any decision in writing to the financial aid office.  The appeal letter will either be sent to the Loan Default Committee or a response will be sent to the student within 7 days if it is a regulatory issue that cannot be overturned.  Once the response from the committee is received, a letter documenting the decision will be mailed to the student within 7 days.
7. You will be notified in writing either by a revised award letter with the loan amount included or a letter indicating the committee did not accept your request.
8. If you are awarded a loan, you will also hear from the lender once the loan has been certified regarding the loan amount and when you can expect it to be disbursed to your account.  Funds will be processed by EFT directly to your student account. Please remember ALL first disbursements are subject to a 30 day delay, so the funds will not be available until 30 days after classes begin.