Financial Aid - Loans

Student loans, unlike grants and work-study, are borrowed money that must be repaid with interest. You may not have these loans discharged because you didn't get a job in your field of study or because you are having financial difficulty. Loans are legal obligations, so before you take out a student loan think about the amount that you will have to repay in the years after graduation.

There are several loan types available to you:

• Federal Direct Loans
• Parent PLUS Loans
• Alternative Student Loans (also called private student loans)
• Wisconsin State Loans

 Cohort Default Rate 

The Cohort Default Rate (CDR) is a measure used by the U.S. Department of Education to track the percentage of federal student loan borrowers who default on their loans within a specific time frame after entering repayment.

• What is measured? 
  The CDR focuses on the percentage of borrowers who begin repaying their loans in a given federal fiscal year and default within three years. A default typically means failing to make payments on a loan for 270 days or more.

Please refer to the Cohort Default Rate Guide for a more in-depth description of cohort default rates and see how Lakeshore College compares to other colleges.