Thread regarding Lincoln Technical Institute layoffs

Lincoln's Institutional Loans?

Does anyone have information on Lincoln's institutional loans? Can you tell me what the interest rate is for these loans, and what the default rate is?

"As of March 31, 2018, we had total outstanding loan commitments to our students of $52.6 million, as compared to $51.9 million at December 31, 2017. The increase was due to the timing of students packaged with institutional loans in combination with the seasonality of the business."

https://www.sec.gov/Archives/edgar/data/1286613/000114036118024002/form10q.htm

4 replies (most recent on top)

F--- YOU DOUCHE BAG YOU JUST TRYING TO SET SOMEONE UP ASKING THIS QUESTION!!!!!!!!!!!

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Post ID: @Upsi+Tj5Zgpj

At that interest rate (14-18%), what is the default rate?

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Post ID: @ziks+Tj5Zgpj

14.9 % last I heard. That is with decent credit. I think bad credit 18%

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Post ID: @4kcd+Tj5Zgpj

This is the only thing about the institutional loans mentioned in the Financial Aid booklet:

"Set up an appointment to speak to a Financial Aid Advisor at your school. They will inform you of other aid that may be available to you, if you qualify, such as additional loan funding through the Lincoln Credit Extended Repayment Plan or the Lincoln Pride and the Lincoln Advantage scholarships. They will also inform you of your total cost of attending school."

https://www.lincolntech.edu/download/lincoln_scib.pdf

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