HomeAdmissionsAbout LincolnDirections to LincolnSearch

Financial Aid Home
Tuition and Fees
Costs of Attendance
How to Apply for Financial Aid
Types of Aid

Financial Aid Forms

FAQ's
Office Staff
Policy on Satisfactory Academic Progress
for Financial Aid
Student
Responsibilities
Bursar's Office


Office of Financial Aid


Loan Information Process


Lincoln University participates in the Federal Direct Loan Program. The program has two main sources of funding which include the Federal Direct Loan for students and the Federal PLUS Loan for parents.

Instructions on How to Apply for a Loan

Description of Loans: Payday Loans here
Federal Subsidized Loan Federal Parent PLUS Loan
Federal Unsubsidized Loan Federal Graduate PLUS Loan
Federal Perkins Loan  

Both Pennsylvania and non-Pennsylvania residents can apply for Federal loans from the United States Department of Education (USDE). Since USDE is the Guarantor for the Federal Loans, students can complete the Federal Loan Master Promissory Note Application (MPN) online.

Federal Subsidized Direct Loan - The federal government pays the interest while the student is in school. The eligibility to receive a subsidized loan is based on family income and financial need established by the federal government. You may borrow the maximum for your grade level. Please refer to chart below for Federal  Loan limits.

Federal Unsubsidized Direct Loan - The loan is limited to independent students and/or dependent students whose parents have been denied eligibility for the Federal Plus Loan. The Federal Unsubsidized Loan is not based on need and, unlike the Federal Subsidized Loan the government does not pay the interest for you. You will be charged interest for this loan from the time the loan is disbursed until the loan is paid in full. You may borrow the maximum for your grade level.

Grade Level Credits Maximum Subsidized Maximum Unsubsidized *Additional
Maximum Unsubsidized
Freshman 0-29 $3,500 $2,000 $4,000
Sophomore 30-59 $4,500 $2,000 $4,000
Junior 60-89 $5,500 $2,000 $5,000
Senior/Pre-Masters 90 and above $5,500 $2,000 $5,000
Graduate     $20,500  
*The parent of a dependent student must first apply for the Federal PLUS Loan and be DENIED by the lender before an Federal Unsubsidized Loan can be awarded.

Federal PLUS Loan - A Federal PLUS loan enables a parent with a good credit history to borrow funds to help pay for education expenses for at least half-time. The yearly loan limit is the cost of attendance minus all other financial aid. The school will notify parents and the lender of the amount awarded. PLUS loans can supplement any loan variations or expected family contribution (EFC). PLUS loans are not based on need but rather parent's credit worthiness. You can apply for the Federal PLUS Master Promissory Note at www.studentloans.gov.

Federal Perkins Loan - Is a low interest (5%) loan for students with exceptional financial need. The loan is made from a revolving fund at the University. The University is your lender and those students who applied before the April 1st deadline date will be given priority. If your Financial Aid Award Letter includes a Federal Perkins Loan, you must complete a Federal Perkins Loan Master Promissory Note (MPN) and Entrance Interview before loan proceeds will be posted to your account. The University

Calculate your loan repayment
To calculate your expected student loan repayment please utilize this website: www.youcandealwithit.com

 

 

 


Lincoln University of the Commonwealth of Pennsylvania
1570 Baltimore Pike, P.O. Box 179, Lincoln University, PA 19352 \
(484) 365-8000