Subsidized loans are for students who show a demonstrated need for financial aid. The government pays the interest while the student is in school. The federal government has limited the amount of time for which you may receive subsidized loan funds to 150% of the time of the published program length (6 years for a 4-year program)
Private Educational Loans should only be considered once a borrower has taken advantage of all free monies (grants and scholarships) and Federal Loan programs (Subsidized/Unsubsidized and/or Parent PLUS Loans). Private Educational Loans provide funding options but may have higher interest rates or different repayment terms and options. Potential borrowers should carefully compare all loan terms and conditions.
The ELM Select tool can be used to view a historical lender list (lenders that have been used by LCU student in previous years) and apply for a private loan—please see the link below.
The Credible online tool allows students and parents to compare loan offers and prequalified rates from multiple lenders with no hidden fees and no impact on their credit. Credible is not a lender or a bank. Credible partners with student loan lenders so that applicants have a variety of competitive options.
A student borrower may select any lender and it is NOT restricted to the lenders presented on the lender list provided at either of the links above.