LMU California Student Loan Requirements
2013 - 2014
Terms of Loan
Once you have committed to attend LMU and have accepted your loan offer online, you must complete three (3) additional loan requirements: Institutional Loan Self-Certification, Institutional Loan Approval Disclosure, and Institutional Loan Final Disclosure. These requirements will need to be completed online. Please read the instructions below carefully before completing the steps online.
Truth in Lending Act (TILA)
The Higher Education Opportunity Act of 2008 (HEAO) [PL 110-35] added section 128(e)(3) to TILA which requires that before a private educational lender can consummate a private education loan for a student in attendance at an institution of higher education the private education lender must obtain the completed, and signed, U.S. Department of Education Self-Certification Form from the applicant. The Federal Reserve Board's Final Regulation [12CFR226.48(e)] published on August 14, 2009 incorporates this new requirement.
The LMU California student loan program is covered by the changes made to TILA. In addition to the self-certification form, a series of disclosures at specific points in the loan process (application, approval, and final stage) are required. These requirements will need to be completed online.