FLC Home
Secure Upload

Undergraduate loans for Fort Lewis College

When you apply for financial aid, you may be offered loans as part of your financial aid package. A loan is money you borrow and must repay, with interest.

Student loans may be available through the federal government, private lenders, or other organizations. In most cases, federal student loans offer more borrower protections and benefits than private loans.

How to receive your federal student loan

  1. Review your financial aid offer and decide whether you want to borrow.
  2. Accept or decline your loan through your Workday account.
  3. First-time borrowers must complete Entrance Counseling and sign a Master Promissory Note (MPN) before loan funds can be disbursed.
  4. Once all requirements are complete and your enrollment is confirmed, loan funds will be applied to your student account.
  5. If your loan creates a credit balance, any remaining funds will be refunded to you.

Important information about federal student loans

  • You may cancel all or part of your federal student loan within 14 days of disbursement by contacting the Financial Aid Office.
  • Federal loans are typically disbursed in two equal installments, one each semester.
  • Loan origination fees are deducted from the loan before funds are disbursed.
  • You are responsible for repaying any federal student loans you borrow, even if you do not complete your program or do not find employment after graduation.

How to...

Federal Direct Loans

There are two distinct Federal Direct Loan programs:

  1. Subsidized Loan Program: The subsidized program is based on financial need, and the borrower does not pay interest while enrolled at least half-time. 
  2. Unsubsidized Loan Program: The unsubsidized loan program does not have this in-school subsidy and is not need-based. All eligible students may apply for and receive these funds. 

Under the unsubsidized program, interest can accumulate or capitalize until the borrower is out of school, increasing the principal's amount. The borrower can make interest-only payments to avoid capitalization. View up-to-date information on interest rates and loan origination fees.
Federal Direct Plus Parent Loans

Federal Direct Parent PLUS Loans are for parents who wish to borrow to help pay for their student's education.

  • You must complete the FAFSA before applying for a Federal Direct Parent PLUS Loan.
  • Federal Direct Parent PLUS Loan applicants are subject to credit checks.
  • Parents may borrow up to the cost of the attendance budget, minus any other financial aid, each year.
  • Repayment begins within 60 days after the loan has been completely disbursed. Go to the interest rate page on the Federal Student Aid site to view up-to-date information on interest rates and loan origination fees.

The US Department of Education funds Federal Direct Parent PLUS Loans. You accept the Federal Direct Parent PLUS Loan through SkyLink. The parent will need to apply for the loan at studentloans.gov.

If a parent is denied a Federal Direct Parent PLUS Loan, a dependent student may be considered for a different portion of the unsubsidized Direct loan. Origination fees will be deducted from the loan upon disbursement. Origination fees are subject to change.
Alternative loans

Private loans have no government subsidy. These college loans require a more stringent qualification of creditworthiness and may have higher interest rates than federal student loans.

The Financial Aid Office advises all students to use the Direct loan programs first.
Undergraduate loan amounts

The amounts that undergraduate students may borrow per academic year depend on the credits earned.

  Dependent Students Dependent Students  Denied a Parent Federal Loan Independent
Students
Grade
Level		 Earned Credit Hours Base
Amount		 Additional
Unsubsidized		 Base
Amount		 Additional
Unsubsidized		 Additional
Unsubsidized
First-year 0-29 $3,500 $2,000 $3,500 $6,000 $6,000
Sophomore 30-59 $4,500 $2,000 $4,500 $6,000 $6,000
Junior/Senior 60 or more $5,500 $2,000 $5,500 $7,000 $7,000

PLUS (parent) Loan: Limited to Cost of Attendance minus other financial aid such as grants, scholarships, work-study, student loans, etc.

A dependent undergraduate borrower may accumulate a maximum of $31,000 in outstanding federal loan debt. The undergraduate independent borrower may get outstanding federal student loan debt of up to $57,500.
Repaying loans

Students and parents can find comprehensive information about undergraduate student loan repayment options on the Federal Student Aid website.

There is also a repayment estimator you can use if you are:

  • Curious about what your payment might be based on what you have borrowed so far;
  • Beginning repayment of your federal student loans for the first time; or
  • Exploring repayment options based on your income.
  • We also recommend contacting your loan servicer to explore the best repayment option.

Contact us

Skyhawk Station

Email: skyhawkstation@fortlewis.edu
Phone: 970-247-7301
Drop-in:

  • 9 a.m. - 4 p.m., Monday - Thursday
  • 9 a.m. - 1 p.m., Friday

Walk-in

Skyhawk Station staff will check you in and guide you to a self-service kiosk or connect you with a Skyhawk Specialist or Advisor.