LENDMARK FINANCIAL ASSISTANCE (LFA) is now open to students from all US states.
Students can enroll through LFA’s website, www.lfla.org, and can apply online through September 16.
The loan is available to students who are in financial need and have demonstrated financial need through a personal loan application.
The program was created to help students facing financial hardship and other barriers to getting an affordable education.
It offers an education that is both flexible and cost-effective.
LFA was established in 2008 with $1.6 billion in funding.
Its primary focus is on students who have a low-income household income and have financial need.
Students enrolled in LFA who are also in a state-sponsored loan program can apply for a grant to cover their tuition and fees.
In order to apply, students must meet one of three criteria.
They must have a student loan outstanding that is more than three months past due, be in a US state-funded loan program, or be a US citizen.
The student who meets all three criteria can qualify for an annual stipend of up to $25,000 to pay for education.
The stipend is funded through the loan program and is capped at $25000 for each student.
The program provides additional funding to students for living expenses, transportation, health insurance, and other items.
The grant is also available to low- to moderate-income students who can demonstrate financial need, such as student loan debt or housing costs.
The first round of the program was launched in May and is slated to launch its second phase in July.
More information is available at www.lisafinance.org.
The American Association of University Professors has joined the LFA program in its support of the student loan program.
In a statement, the association said it is “supportive of a wide range of public programs that address the needs of students.”
It said LFA is “the only public university financial aid program that offers a broad range of grants to help low- and moderate- income students pay for their education.”