Dabney S. Lancaster Community College Entrance Counseling Guide. For Direct Loan Borrowers. www.direct.ed.gov. Definition of Terms. Accrue -The accumulation of interest on an unpaid loan over time .
For Direct Loan Borrowers
DSLCC offers 3 types of loans:
* unless Congressional Legislative change occurs.
(no payment/interest does accrue)
(Money that does not have to be paid back.)
This can substantially increase the total amount you repay over the life of your loan.
(If you don’t use all of your loan eligibility, you can use it in the summer semester. It works the same as the Pell Grant.)
2-yr degree = 3 yrs of sub loan eligibility
4-yr degree = 6 yrs of sub loan eligibility
*also includes borrower s who have paid off previous loans
(Usually a small amount)
(not including periods of deferment or forbearance)
In certain cases, you may be able to have all or part of your loan cancelled because:
Attn: COD Applicant Services
P.O. Box 9002
Niagara Falls, NY 14302
Email: [email protected]