If the loan is repaid within 90 days, no interest is charged. After 90 days, a five- percent interest is charged monthly. Contact the Lawrence Tech Financial Aid Office for an application and additional information. The student must show a need for financial aid as determined by a financial statement. A maximum of ten years for repayment at five percent per annum is required.
Payment begins after a nine-month grace period.
A financial statement is used to determine need. Students receiving Pell awards will have their first choice of SEOG funds. The application for the Pell, which includes the form to determine family contribution, is available from the Financial Aid Office. Both baccalaureate and associate students are eligible for Pell Grants. This program is designed to help students pay for their education by providing them with jobs.