Student Loans

Loans are borrowed money that you have to repay

 

A caution about student loans

Student loans checks are delivered to the student after enrollment and satisfactory progress have been verified. Students should not plan to use loan money to pay registration fees or non-resident tuition.

 

 

Federal Perkins Loan

(Formerly National Direct Student Loan-NDSL) This loan is a long term loan repayment program to help students with exceptional need meet their educational expenses. Students may borrow up to $1000 annually at L.A. Southwest College. Repayment status begins nine months after the borrower graduates, withdraws, or ceases to be at least a half-time student. During the repayment period, five percent interest is charged on the unpaid balance of the loan principle.

 

 

Repayment begins nine (9) months after the borrower graduates, withdraws, or ceases to be at least a halftime studies, and can be extended to ten (10) years and nine (9) months after such date. During the repayment period, five percent (5%) interest is charged on the unpaid balance of the loan principal.

 

 

Usually, the length of the repayment period is determined by the total amount borrowed. Should a student experience unforeseen circumstances which pervert repayment at the $40.00 a month minimum level, a request for deferment or forbearance can be submitted to: Central Loan Administration Unit (CLAU), Los Angeles, Community College District, 770 Wilshire Boulevard, 5th Floor, Los Angeles, California 90017. For information, contact CLAU at (800) 822-5222.

 

 

(Loans prior to 1993 are repayable at the rate of $90 per quarter; loans awarded after July 1,1992 are repayable at the rate of $120 per quarter).

 

 

If you are coming from another school and have a previous NDSL/Perkins Loan, you will remain with the same repayment minimum.

 

 

Students who are interested in the terms and conditions of the loans prior to applying for aid should come to LASC Financial Aid Office and ask for a copy of the promissory note and Rights and Responsibility.

 

 

 

Financial Aid Office

Student Services Building, Room #104

Phone: (323) 241-5338

Fax:  (323) 241-5463

lascfinaidstaff@lasc.edu

 

Office Hours

Monday – Thursday: 8:00 a.m. – 7:00 p.m.

Friday:  8:00 a.m. – 1:00 p.m.

 

Title IV Federal School Code

007047