Facebook Pixel Skip to main content


Federal Loan Programs

To be eligible to apply for any of the Title IV student loans, you must:

  • Apply for financial aid using the FAFSA.

  • Have a completed, verified as accurate, student aid file on record.

  • Complete loan counseling and other special requirements.

  • Be enrolled in at least half-time enrollment status.

  • Be enrolled in only coursework relevant to your program of study.

  • Meet DL Program Regulations per 34 CFR part 668.

  • Meet School processing deadlines

Federal Direct Stafford Loan Program (subsidized and unsubsidized)

  • Repayment begins six months after the student graduates, leaves school, or drops below half-time enrollment.

  • Loan disbursements are deposited in the form of electronic funds to the student's LCN account and are released no earlier than thirty days after the beginning of the semester.

  • Students may request up to $7,500.00 at the Junior or Senior Level each award year (max subsidized amount in the figure is $5500.00).

  • Independent students may be eligible for additional unsubsidized loans for a maximum eligibility of $12,500

  • Please note: Some students may qualify for the following loan processing standards based on their program completion plan and will be contacted by Financial Aid Office with their Federal loan eligibility.

    1. Students that graduate mid-year (December) and are enrolled in 6 or more credit hours for the remaining summer and fall semesters can qualify to process aid based on the borrower based award year (BBAY). This allows the student to maximize Federal loan/grant eligibility.

    2. Students that graduate mid-year (December) and are not enrolled in any preceding summer semester courses will require Federal loan proration for Federal loans processed in Fall since the final period of enrollment is shorter than the academic year in length.


Federal Parent Loan for Undergraduate Students (PLUS)

Parents may borrow for their dependent undergraduate students. Parents would be eligible to borrow up to the cost of education minus any financial aid.


Loan Interest Rates

To view current interest rates and other loan information go to StudentAid.gov

Applying for Federal Direct Loans

Once your student file has been verified, loan processing instructions will be forwarded to your LCN email account. The application process is conducted via the Internet. You will be required to log in at specific sites (noted below) and use your Federal Student ID which is the same ID you must use when completing the application for Federal Student Aid (the FAFSA) each award year.

To apply complete these steps:

  1. Complete entrance counseling at Studentaid.gov. All first-time borrowers at LCN are required to complete this step.

  2. Complete the Electronic Master Promissory Note (EMPN) at Studentaid.gov.

  3. Return your loan request responses from the previous email to the FA Office.

  4. Meet school deadlines for the semester in regards to loan processing.

If the parent is applying for the Parent Loan for Undergraduate Students (PLUS), you must:

  1. Complete PLUS Application request process at Studentaid.gov.

  2. Complete the PLUS Electronic Master Promissory Note at Studentaid.gov.

  3. Contact the Financial Aid Office with the requested loan amount.

34 CFR Section 668.202 (e)(1) of the Federal Direct Loan (DL) Program provides that a school may refuse to certify a Stafford or PLUS loan application or may reduce the borrower's determination of need for the loan if the reason for that action is documented and provided to the student in writing provided the determination is made on a case-by-case basis. All previous borrowing of student loans and total debt will be reviewed prior to certification of future loans.

Repayment of Federal loans

LCN students who process Federal Loans and drop below half-time enrollment, withdraw from the program, or graduate, will receive personalized exit information from the Financial Aid Office regarding their Federal loans. More information on repaying Federal student loans can be found at https://studentaid.gov

Federal Student Loan Ombudsman

The Ombudsman Group is dedicated to helping resolve disputes related to Direct Loans, Federal Family Education Loan (FFEL) Program loans, Guaranteed Student Loans, and Perkins Loans. If a borrower has completed the steps to resolve a loan dispute and is not satisfied, the borrower may need to contact the Federal Student Aid (FSA) Ombudsman Group of the U.S. Department of Education (ED). The Ombudsman Group is neutral, informal, and confidential resources to help resolve disputes about your federal student loans. Contact the Ombudsmen Group as a last resort. Make every effort to resolve your student loan problem before contacting the Ombudsman Group.

FSA Ombudsman Group
PO Box 1843
Monticello, KY 42633
Phone: 877-557-2575
Fax: 606-396-4821

Alternative Loans

Alternative loans, commonly referred to as "private loans," are offered by various banks and private lenders to cover the costs of College not covered by other financial aid resources. A Credit Check is completed on the potential borrower. Also, it is common to be required to have a co-signer for the loan. Interest rates are variable by borrower and based on many factors that the lender deems relevant.

Alternative loans are intended for:

  • students whose financial aid doesn't cover the full cost of higher education (Cost of Attendance is considered in need) or,

  • students who may not be enrolled in a financial aid eligible program or,

  • students who may not be eligible for financial aid for other reasons.

Depending on individual circumstances, a parent may also be able to borrow alternative loans to help pay for a child's college expenses.

There are many companies that offer alternative loans. As a wise consumer, you should shop around and investigate what lender offers the best loan to meet your needs. You may choose any lender you wish. In considering a lender, you should look at the interest rates, repayment period, "reward" options, the quality of their customer service, and the amount eligible to borrow within specific time frames. All of these considerations will help you find the best loan to meet your educational needs.

Lakeview College of Nursing does not sponsor or endorse any lender. We do have a "historical" listing of lenders that current and/or previous students have used. You may visit FASTChoice at http://choice.fastproducts.org/FastChoice/home/1050100 to view additional private loan entrance information and compare products offered by lenders on the historical list. As a consumer, you should research your options and use your best judgment to choose a lender. We strongly suggest that students contact us to discuss the Federal Stafford loan program and what advantages concerning interest rates, repayment options and other consumer information that may make it a better choice for borrowing funds for educational expenses. A parent of an undergraduate student also has the option of borrowing on the student's behalf for education expenses called the Federal PLUS program, this program may also have advantages for the consumer when comparing to an alternative loan. Each of these Federal loan programs require that the Free Application for Federal Student Aid (FAFSA) be completed and verified to be accurate before the loan can be certified and processed. Student's can also research this information on their own at the Department of Education's Web page at studentaid.ed.gov/sa/types/loans/federal-vs-private

For all loan questions, please call the Financial Aid Office at 217.709.0928.