Home - Admissions & Financial Aid - Costs & Financial Aid - Student Loans Student Loans Federal Direct Loans Federal Direct Stafford Loan The Federal Direct Stafford Loan is a low-interest loan available from the federal government, either as a subsidized or unsubsidized student loan. If you qualify for a need-based subsidized student loan, the federal government pays the interest on your loan while you’re in school (that’s why it’s called a “subsidized” loan). An unsubsidized student loan is not based on financial need, and you’ll be charged interest on the loan as soon as the funds are disbursed. (You may choose to pay the interest while in school or defer interest payments until you’ve finished school, in which case the interest will be added to the amount you owe.) Both loan types require that repayment begin six months after you graduate, drop below half-time enrollment or cease attending. The maximum annual loan amounts are: First year Second year $5,500 Dependent Students $6,500 Dependent Students $9,500 Independent Students $10,500 Independent Students Only $3,500 can be subsidized if eligible. Only $4,500 can be subsidized if eligible. Federal Direct Parent Loan for Undergraduate Students (PLUS Loan) This loan is available to families who want a low-interest loan to pay for a dependent student’s educational expenses but have no demonstrated financial need. These loans may not exceed the student’s cost of attendance minus other aid. Repayment usually begins 60 days from the date of disbursement. Contact the Financial Aid Office for additional information. Federal Direct Student Loan Process Please follow the instructions below to complete the student loan process for Lewis and Clark Community College. Log on to the studentloans.gov by using your FSA ID and password. For Federal Direct Student Loan Borrowers: Complete and return a signed Student Loan Request Form to the Financial Aid Office. Complete your Master Promissory Note (MPN) and Loan Entrance Counseling through studentloans.gov. For Federal Direct Parent Plus Loan Borrowers: A parent must complete a PLUS Loan application and Parent PLUS Master Promissory Note (MPN) through studentloans.gov. Please submit a copy of your Parent PLUS Master Promissory Note (MPN), L&C Parent PLUS Loan Request form and a credit approval confirmation/letter to the Financial Aid Office. For instructions on accepting you financial aid, see Student Loan Instructions. For complete information on all federal student loans, see Direct Loans. **Any refusal to originate a Direct Loan or reduce your eligible loan amount will be made on a case-by- case basis. In the event that the Financial Aid Office denies or limits your Direct Loan availability, a letter documenting our decision will be provided to you the student borrower or your parent in the case of parent loan borrowers.