How to apply for Direct Student Loans

  1. When completing the Award Notification in e-Services, select the Request Loan link. If the Award Notification has already been completed, go to the Financial Aid tab, and select the Loans link. You’ll need to enter the number of credits you’re enrolled in. You must be enrolled in at least 6 financial aid-eligible credits to receive Direct Student Loans.
  2. Complete Direct Student Loan pre-requirements: (There will be green check marks by these steps if you have already completed them.)
  3. Complete loan request. You can accept the full amount or a reduced amount. The loan request will split between fall and spring unless the financial aid office is aware that you will not be attending one of the semesters.
  4. Check your Lake Superior College email daily. If any steps are incomplete or if we need additional information to process the loan, we will contact you via your LSC email.
  5. Check your Financial Aid Status in e-Services weekly. Once the loan has been processed, the loan status will update from “processing” to “certified”. Completed loan requests take about 1 to 3 business days to process once we have begun processing loans for the academic year that loans were requested for.

Parent PLUS Loans: Parents of dependent students can request PLUS loans. Find out if you qualify and apply for a PLUS loan (loans to parents).

Direct Student Loan Disbursement

New Loan Borrowers: There is a 30 day delay for new loan borrowers. The first disbursement for a new loan borrower will occur no earlier than 30 days into the semester as long as the loan has been processed and the student is enrolled in at least 6 financial aid-eligible credits. If the new loan borrower applies for a loan after the 30 day delay, the loan will disburse onto their account within a week of the loan being processed.

Non-new Loan Borrowers: A loan that is processed at least a week prior to the end of the add/drop period will apply to the student’s account as long as they are in at least 6 financial aid eligible credits. After the second week of classes, the loan disbursements will occur within a week after the loan has been processed.

Direct Loan disbursements are applied to the students outstanding tuition and fees. If there is a refund, this will be sent to BankMobile Disbursements, a technology solution, powered by BMTX, Inc. to be disbursed to students according to their selected refund preference with BankMobile Disbursements.

Fall-Spring Loan Requests: If a loan request is for Fall-Spring, the loan will have two disbursements during the loan period. The first disbursement will be in the Fall semester and the second disbursement will be in Spring semester.

One-term Loan Requests: If a loan is processed for one semester only, the loan will have two disbursements within the semester the loan was processed for. The second disbursement will be no earlier than the midpoint of the semester.

Parent PLUS Loan: Learn more about PLUS loan disbursements.

Direct Loan Repayment

For subsidized and unsubsidized loans, students will need to start making payments 6 months after the student is no longer enrolled half-time, withdrawn, or has graduated. The student will need to complete exit counseling when this happens. There are several repayment plans that a student can choose from. Please contact the student loan servicer for more information or visit

Parent PLUS Loan: Learn more about PLUS loan repayment.

View loan history or look up the loan servicer