Allow 3–6 weeks to complete the federal student loan process. More time may be needed for individual circumstances and for private loans. Start your loan process early so that you finish all steps in the loan process by your semester bill due date in order to avoid bursar late fees.
International students seeking a private student loan should expect the loan process to take eight weeks, or more for individual circumstances.
Review the LionPATH Tutorials on Payment and Financial Aid for step-by-step instructions on how to accept/decline your student loan and set the dollar amount you wish to borrow.
The loan amount you set for the academic year will be divided evenly between the fall and spring semesters. We strongly encourage students to decrease the loan offer to only the amount needed to cover tuition, fees, books and supplies for the fall and spring semesters combined. For more information, review the Penn State Financial Literacy pages.
Federal student loans are offered on LionPATH when a student has submitted an approved FAFSA and is enrolled in one course. However, loans are only authorized and disbursed after a student meets loan criteria (including enrollment in 6 or more credits per semester), has accepted the loan, has completed the instructions sent via email, and has completed the student’s LionPATH To Do list.
Federal origination fees are removed from a federal student loan before disbursement to your LionPATH account. Set your loan amount in the Accept process by adding the origination fee percentage to the amount you wish to receive. On LionPATH, the loan amount offered is the gross amount and the amount disbursed is the net amount after the origination fee is removed.
If you need an adjustment to the federal loan amount you accepted in LionPATH, or if you need your federal loan to be reinstated, send an email to [email protected]. Write “Loan Correction Request” or “Loan Reinstatement Request” in the subject line, and in the body of the message provide your name, your PSU 9-digit ID, and the academic year of the loan. If your request is approved at University Park, a new loan offer will be posted in LionPATH for you to accept or adjust.
If you need assistance with a private student loan, contact your lender directly.
How your financial aid relates to your tuition bill
How dropping credits affects your financial aid
The financial aid consequences of an “F” grade
How withdrawing from school affects your financial aid
Penn State’s satisfactory academic progress policy and your financial aid
Student financial aid rights and responsibilities