LASC offers federal direct student loans, though we strongly encourage you to use every other free financial aid resource available to you, by completing the FAFSA, reading our Paying for College webpage, applying for scholarships, talking with your Financial Aid Technician, and using every resource you have first.
We are dedicated to supporting your success and want to ensure you have a clear idea of how loan debt can affect your future.
We offer loans from the U.S. Department of Education instead of a bank or financial institution. Regardless of income level, most U.S. citizens, permanent residents, and those who are eligible non-citizens can qualify for these loans as long as they have completed a FAFSA. The loans are a type of financial aid and accumulate interest that will need to be paid back.
We are dedicated to supporting your success and want to ensure you have a clear idea of how loan debt can affect your future. They are a long-term commitment and should be used as a last resort.
What Loans Are Available to Me?
We offer Federal Direct Stafford Loans which are federal loans the government offers college students that are either:
Direct Subsidized Loans: These loans are based on financial need and don’t start charging interest as long as you are enrolled half-time (6 units or more per semester) or not until six (6) months after you leave school. The interest is charged later because the federal government is subsidizing your loan while you are in college.
Direct Unsubsidized Loans: are loans that allow you to qualify regardless of your financial need. These loans start to accrue interest as soon as you take out the loan until you completely pay it in full. We do NOT RECOMMEND these loans.
We also offer Federal PLUS Loans that a parent of a dependent student can apply for. These loans require the parent to start repaying the loan 60 days after the second disbursement of the loan.
Before Applying for a Loan
- Read Your Federal Student Loans document. Understanding student loans is very important! Before applying for a loan, you should make sure that you fully understand its terms and conditions. You should also be aware of your rights and responsibilities.
- Read the Los Angeles Southwest College Student Loan Guide for important information about Stafford Loans and general financial aid eligibility. In addition to the requirements indicated in the student loan guides above, you must be enrolled in at least six (6) eligible semester units to be considered for student loans.
How Do I Apply for a Student Loan?
Follow these steps to apply for a Federal Stafford Loan
Use this Stafford Loan Checklist to verify that you have included all required items before you upload the loan packet in lasc.studentforms.com.
- 2023-2024 FAFSA: Complete a 2023-24 Free Application for Federal Student Aid (FAFSA) at FAFSA website.
- Award Notification: Complete your financial aid file and receive your award notification or an email indicating that your file was reviewed but you are not eligible for need-based aid.
- Student Loan Data Form: Complete this form in lasc.studentforms.com.
- Direct Loan Entrance Counseling: All new borrowers must complete the Direct Loan Entrance Counseling.
- Proof of completion must be uploaded into lasc.studentforms.com. Please note that this requirement does not apply to repeat borrowers.
- Master Promissory Note: New borrowers must complete a Master Promissory Note (MPN).
- Cash course: All borrowers are asked to complete two CashCourse Modules, click on this link for instructions.
- Borrowers at LA Southwest College must complete the CashCourse lesson modules:
- Paying Back Student Loans.
- Test Your Student Loan IQ.
- You must score at least 80% on both modules. Results will go directly to your school email. Please upload the results in lasc.studentforms.com.
- Student Loan History: Upload your Student Loan History. If you have never borrowed before you still need to upload your loan history on lasc.studentforms.com. although it will be blank.
- Picture ID: Upload a valid state-issued picture identification or U.S. passport
- NSLDS Disclosure: Any loan borrowed by the student or parent will be submitted to the National Student Loan Database System (NSLDS) and will be accessible by guarantee agencies, lenders, and schools determined to be authorized users of the data system.
Direct Stafford Loan Status
It may take up to 45 calendar days to process a student loan. The processing calendar DOES NOT begin until you have complied with all of the requirements on the To-Do the checklist.
2023-2024 Federal Direct Stafford Loans Deadlines
Tuesday, November 7, 2023, is the last day to submit a loan application or supporting documentation for Fall 2023.
Thursday, May 2, 2024, is the last day to submit a loan application or supporting documentation for Spring 2024
Direct Loan Workshops
First-time borrowers MUST attend a mandatory loan workshop
ABSOLUTELY NO ENTRY 10 MINUTES PAST THE HOUR!
Please note: To submit a loan application your “TO DO LIST” must be completed and you must have an Award Summary.
Los Angeles Southwest College does not certify any private loans. If you are interested in a student loan you may be eligible to apply for a Federal Direct Stafford Loan.