Awards are based on financial need. Federally subsidized Stafford Loans are low interest, long term loans made directly to US Citizens and Permanent Residents enrolled in graduate and undergraduate programs. Independent students may borrow higher amounts. Additional unsubsidized Stafford Loans are also available. No interest is charged on subsidized loans while the student is enrolled at least halftime.
Interest is charged on unsubsidized loans even while the student is enrolled.
Repayment of the principal, with interest, begins six months after graduation or after the borrower ceases to be enrolled at least half time. All applicants for financial aid must complete the Longy Financial Aid Application. All Federal and Commonwealth student aid programs are administered in accordance with applicable regulations concerning eligibility, awards, and disbursement. All proceeds received by the school are disbursed in a timely fashion. Any financial assistance received by a student must be used solely for expenses related to attendance at Longy.