Types of Aid

Loans

Federal Family Education Loan Program

Lee College currently participates in the Federal Family Education Loan Program, which includes Stafford Loans and Parent Loans for Undergraduate Students.  Application procedures are available on line and at the financial aid office.  These procedures will include on line loan counseling required before a loan application is approved as well as any supplemental counseling while you are enrolled.

First time disbursements will be subject to a federally mandated 30 day delay

This program is comprised of three loans:

• The Subsidized Stafford Loan Program
  This is a low interest, long-term loan available to students who demonstrate financial need. These loans are made available through banks and credit unions. This loan is for undergraduate students pursuing a certificate or degree. Since these are need-based loans the government provides deferment for principal only and pays the interest while the borrower is enrolled at least half time.
• The Unsubsidized Stafford Loan Program
  This loan is available to independent students who need additional assistance. These loans may substitute for all or part of the student’s expected family contribution (EFC). With Unsubsidized Stafford Loans, students are responsible for paying the interest that accrues while enrolled in school, or during any grace and deferment periods. These loans are non-need based Students in need of the additional Unsubsidized Stafford Loans should submit a letter to the financial aid office detailing the reasons for needing the additional funds.
• The Parent Loan for Undergraduate Students
  PLUS loans are available to parents not to exceed cost of attendance, including any financial aid awarded. These loans have a higher interest rate and the borrower is responsible for paying all the interest that accrues.  This loan is subject to credit checks.