Loan Programs Lakes Region Community College - New Hampshire

Lake Region Community College

Loan Programs

Federal Perkins Loan Program

The Federal Perkins Loan program provides low interest subsidized loans to students who demonstrate financial need. This loan program has a five (5) percent interest rate and repayment does not begin until nine (9) months after graduation, withdrawal, or when enrollment drops below six (6) credits.

Federal Direct Loan Program

Requirements: A student must be enrolled in a minimum of six (6) credits to be eligible for these programs. The amount a student may borrow may not exceed the cost of attendance minus other assistance (or, for subsidized loans, other assistance plus the EFC). All students must complete a Master Promissory Note as the College has now switched to the Federal Direct Loan Program. First time borrowers must also complete loan entrance counseling.

Direct Subsidized Loans

These loans are subsidized by the federal government for students who demonstrate financial need. Subsidized means the student is not responsible for payment of accrued interest during periods of at least half time enrollment [six (6) credits or more]. Repayment begins six (6) months after graduation, withdrawal, or when enrolment drops below six (6) credits.

Unsubsidized Stafford Loans

These loans are not subsidized by the federal government and are not based on financial need. Unsubsidized means the student is responsible for payment of accrued interest during periods of at least half time enrollment although actual payment can usually be deferred. Repayment begins six (6) months after graduation, withdrawal, or when enrollment drops below six (6) credits.

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Type

Financial aid

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North America

Laconia , United States

Location

United States

Laconia

Type

Financial aid

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