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Federal Student Loan Information
New and Transfer Students or First Time Borrowers at Lawrence Tech
You can borrow directly from the federal government or a lender of your choice. Choose from the two choices below to complete the Entrance Counseling and Master Promissory Note process.
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If you don't choose a Federal Direct Student Loan contact your lender of choice to obtain a Federal Stafford Loan School Certification form and/or the Federal PLUS Loan School Certification form (this form should include lender name; lender code and guarantee agency name and code, and your personal information as required). Once you've obtained this information, submit or forward this information to the One Stop Center at Lawrence Tech to begin the process.
NOTE: Accepting your student loan offer in Banner Web will result in a Federal Direct Student Loan origination (you must sign an MPN to receive the loan funds). A timely submission of lender certification paperwork will cancel the FDSL loan origination if you choose a different lender.
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Entrance Counseling is a requirement for either Federal Direct Student Loan or your lender of choice click here
You only need to complete one multi-year MPN unless you change lenders or cease to borrow for more than one academic year.
Current LTU Student Loan Borrowers
You may switch lenders at this time. Should you decide to do so, please refer to the above links to choose your new lender and sign an on-line Master Promissory Note (MPN). However, Lawrence Tech highly recommends that you retain your previous lender. Some lenders will require an updated MPN and you will be notified if you must do so.
If you do not notifiy the One Stop Center at Lawrence Tech of your lender change after accepting the loan your loan will be certified with the last lender of record.
Please be aware of the terms and conditions of all loans borrowed in the past. It may be in your best interest to continue with the same lender to reduce the need to consolidate your loans at a later date due to having multiple monthly payments. By consolidating your student loans in the future, you may jeopardize your anticipated borrower benefits (such as reduced interest rates).
A note to students who have borrowed under the Michigan Students First Program and the Michigan Engineering Incentive Program: Before considering an additional lender or a consolidation loan you should understand the terms and conditions of all of your loans so that you do not jeopardize any borrower benefits associated with those loans that could be lost at the time of consolidation. Contact Michigan Higher Education Loan Authority for clarification.
How to Apply
Loan Options
Additional Information about Student Loans
Lawrence Tech does not have a preferred lender list. Therefore, Lawrence Tech strongly encourages you to do your research before choosing a loan and/or lender. It’s your choice and we have provided a sample of websites for you to research and explore additional loan information to make your decision as easy as possible. Please contact your particular lender of choice for additional loan and application information (school certification form with lender ID and guarantor code).
Federal Direct Student Loan
Michigan Student Financial Aid
Federal Student Aid
FinAid.org
Great Lakes
Sallie Mae
The above links are not hosted by, nor run by, Lawrence Tech.
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