Apply for a Student Loan

Lake Washington Institute of Technology processes student loans through the Federal Stafford Direct Loan Program. This program allows students to access the same federal student loans as the previous Federal Family Educational Loan Program, but does not require that students select a specific bank or lender to process their student loan. Instead, funds are received directly from the federal government. Repayment terms, interest rates and annual and aggregate loan limits are unchanged.

Students applying for a student loan at Lake Washington Technical College must complete the following steps:

  1. Students applying for a Stafford Direct Loan at LWIT for the first time are required to complete an online Stafford Loan Entrance Counseling session.

  2. Stafford Direct Loan applicants  must also sign a Master Promissory Note for their loan. Students may sign a Direct Loan Master Promissory Note (MPN) online by using their FAFSA PIN number.  After completing steps (1) and (2), students must then submit a Direct Loan Request Form to the LWTC Financial Aid office. This form provides us with the loan period you have chosen and the amount you would like to borrow. The total loan amount entered on the form will be spread equally over the quarters selected. Funds are disbursed on a quarterly basis and are subject to Satisfactory Academic Progress. 

  3. PRE-REQUISITE LOANS: The federal government limits student loan eligibility while students are in "pre-requisite" status. Pre-requisite status applies to students who are taking required courses prior to being admitted in a degree program. Pre-requisite loans are limited to one calendar year from the date a student first begins taking out the loan (students may not be considered for undergraduate grants or work study assistance while completing pre-requisites). After the calendar year has elapsed, students may not receive additional student loan funds unless they are fully accepted into an eligible program.

  4. PARENT PLUS LOANS: Parents of dependent students may borrow up to the amount of the dependent student's cost of attendance, minus any other financial aid, through the federal Parent Plus Loan program. Please note that parents must have approved credit to participate (dependent students, whose parents apply and are rejected on the basis of credit, may borrow additional unsubsidized funds). PLUS Loan applicants must complete a Plus Loan Request Form, and consent to providing access to a credit report. Applicants must also complete an online  PLUS Loan Master Promissory Note. 

  5. The first loan disbursement for Stafford Direct Loan borrowers is delayed 30 calendar days from the first day of the regular academic quarter under the following conditions: (1) the student is enrolled in his/her first quarter at LWTC; and (2) has not received federal student loans in the past. Subsequent disbursements for continuing students are generally available at the beginning of each quarter. Please stop by Financial Aid if you would like to discuss the possibility of deferring tuition while on 30-day hold. 

  6. All Stafford Direct Loan borrowers at LWIT are required to complete online exit counseling if they drop below half time or do not complete at least 6 credits.       

  7. If you plan on continuing your education into the next academic year and would like to request a loan to assist with your educational costs, a new Direct Loan Request form must be submitted to Financial Aid after completing your renewal FAFSA. 

  8. If you require assistance, please contact Financial Aid by email or (425) 739-8106.