Finance & Student Services

Repayment of Federal Loans

Repayment of Federal loans is a very serious obligation. There are a number of repayment options available to help borrowers to meet their obligations. Remember, you are required to make your student loan payments even if you:

  • do not complete your education
  • are not employed upon completion of your studies
  • do not find employment in your field of study
  • feel that the education you received did not meet your expectations
  • do not receive a bill

You must make your loan repayments on time or it may have serious consequences. It may:

  • damage your credit rating, which could impact your ability to borrow
  • refer your account to a collection agency
  • incur collection costs
  • cause garnishment of your wages
  • cause withholding of your state or Federal treasury payments (including federal tax refunds, Social Security benefits, etc.)
  • cause a civil lawsuit, including court costs and legal expenses
  • cause loss of deferment and forbearance entitlements and flexible repayment options
  • cause loss of eligibility for further financial aid
  • suspend your professional license

Repayment options
There are a number of repayment options available. You should discuss them with your lender to determine which will be the best for you:

  • Standard Repayment
  • Graduated Repayment
  • Extended Repayment
  • Income-Based Repayment
  • Pay As You Earn Repayment
  • Income-Contingent Repayment
  • Income-Sensitive Repayment

For full details see the Department of Education repayment webpages. You will always pay the least amount of interest under the Standard Repayment Plan.

Return of Title IV Funds Policy (R2T4)

If a student who receives Title IV funding withdraws, interrupts for more than 180 days or drops below half time attendance, London Contemporary Dance School will follow the requirements of returning funds laid down by the US Dept of Education under Title IV of the Higher Education Act (HEA) and is applied alongside the LCDS’s withdrawal and refund policy. Click here for our R2T4 policy.