Educational Loans

This page contains general information about educational loan options.  If you feel your situation calls for individual attention, please do not hesitate to contact the Student Financial Services Office.  A staff member here will be happy to assist you.  The office is open from 9:00 am to 4:00 pm weekdays.

Federal Stafford Loan

To apply for a Federal Stafford Loan, a student must indicate interest in student loans in Step One of the Free Application for Federal Student Aid (FAFSA).  The Student Financial Services Office will then review the student's eligibility for this loan.  If additional information is required in order to process the loan request, the student will be notified. 

Independent student and some dependent students are able to borrow additional, unsubsidized funds through the Federal Stafford Loan program.  Independent students are automatically considered for the additional loan funds.  Dependent students whose parents apply for, but are denied, a Federal PLUS Loan (see the PLUS Loan section below) will also be considered for the additional loan funds.

Interested parents of dependent students may complete a PLUS Loan pre-approval process within minutes by contacting American Education Services (AES) at 800-692-7392 or by completing the process online at www.aessuccess.org.  Just click on the "Parent PLUS Loans" link under "Student Loans".  If a PLUS Loan request is denied via this process, AES will notify the Student Financial Services Office within a few days. Generally, eligibility for the PLUS Loan is based on a review of the parent's credit history. When/if the Student Financial Services Office receives proof of a PLUS Loan denial from AES, the student’s file will be flagged so that s/he receives any additional, unsubsidized Stafford loan funds for which s/he qualifies.

For more information about the Federal Stafford Loan program, please click on the "Stafford Loans" link under "Student Loans" at www.aessuccess.org.

Federal PLUS Loan

An eligible parent of dependent student may borrow a Federal PLUS Loan. Interested parents may complete a PLUS Loan pre-approval process within minutes by contacting American Education Services (AES) at 800-692-7392 or by completing the process online at www.aessuccess.org.  Just click on the "Parent PLUS Loans" link under "Student Loans".

Federal GradPLUS Loan

Graduate and professional students may borrow a Federal GradPLUS Loan. Interested students may complete a GradPLUS Loan pre-approval process within minutes by contacting American Education Services (AES) at 800-692-7392 or by completing the process online at www.aessuccess.org.  Just click on the "GraduatePLUS Loans" link under "Student Loans".

Alternative Loans

There are various private, alternative loans via which the student may borrow additional funds.  A listing of such loan programs is available online. Alternative loan lenders typically require a student borrower to apply along with a credit worthy co-borrower.

AES/PHEAA does a great job of comparing the benefits of borrowing a Stafford or PLUS loan versus an alternative loan.  To download a side-by-side comparison of interest rates, loan fees, repayment terms, and more, please visit www.aessuccess.org/find_aid_for_school/alternative_loans/index.shtml.

LHU's Recommended Lender Lists

Borrowers may choose any participating lender when borrowing through the Federal Stafford Loan, the Federal PLUS Loan, and private alternative loan programs.  We encourage you to compare lenders and choose those whose repayment terms, services, and borrower benefits best meet your needs.

In order to assist families who would like help with selecting a lender, the LHU Student Financial Services Office has developed a list of recommended lenders for the various loan programs.  The lenders on these lists have been chosen based on a variety of factors including exceptional financial benefits for borrowers, quality customer service, and excellent, electronic loan processes.  Each lender listed below has been chosen with our students' best interest in mind.  Once again, borrowers may choose any lender, including lenders not listed below.

NOTE:  No gifts or incentives of any kind were exchanged with any lending institution in the process of compiling these lists.  The selection of lenders for these lists was based solely on the best interests of students and families.