Financial Aid at LC
In accepting the award package offered, you indicate that you understand and agree to abide by the following terms and conditions:
Terms and Conditions
- The FAFSA is required for all federal, Pennsylvania State grant, scholarship and Lackawanna College aid programs. Eligibility for need-based programs is determined using the information supplied on the FAFSA and, if selected, through the verification process. In addition, award amounts are also influenced by your choice of enrollment and housing.
- Financial Aid packages are developed after first determining the Expected Family Contribution (EFC). Financial need (your financial aid eligibility) is calculated by subtracting the Expected Family Contribution (EFC) from the Student Cost of Attendance budget. Educational costs include all expenses a student may incur and consist of tuition, fees, living expenses, books, transportation and personal expenses.
- The types of aid awarded will vary with the individual student’s need and may consist of a combination of grant, loan, work, and scholarship assistance.
- All students must maintain satisfactory academic progress in order to remain eligible for financial aid. Aid may be cancelled due to lack of progress or maximum semesters of aid. Please review the Lackawanna College Financial Aid Academic Progress Policy on the other side.
- A student will lose Financial Aid Title IV eligibility if a student is convicted of a state or federal offense involving the possession or sale of an illegal drug that occurred while the student was enrolled in school and receiving Title IV aid.
- All forms of need-based aid must be reapplied for annually. Renewal of awards will be based on continued eligibility.
- Receipt of outside awards must be reported to the Financial Aid Office. Adjustments may be made to the student’s award package.
- Financial Aid recipients who plan to withdraw or who change their enrollment status must notify the Financial Aid Office. Your financial aid package will be reviewed and adjustments may be required.
- The amount of aid awarded will be divided equally between the fall and spring semesters, unless otherwise indicated. Financial aid awards are generally disbursed to a student’s account 30 days into the semester for which the award applies. Loan funds will be sent via electronic funds transfer (EFT) on the disbursement date scheduled by the Financial Aid Office.
- Stafford Loan and PLUS Loan recipients must be enrolled on at least a half-time basis (6 credits per semester).
- If you are awarded Work Study funds, it is not a guarantee of funds and will not be placed on your account. It is the student’s responsibility to work the required number of hours in order to earn the money. A student is paid bi-weekly for the number of hours worked that time period.
- Need based awards are subject to change as a result of verification of financial information.
- Failure to provide all requested documentation will result in cancellation of the aid awarded.
- The college holds in strict confidence all family financial information and considers any financial aid package to be a confidential matter between the college and the student.
You have the right to request a professional judgment review of unusual circumstances that may affect the family’s ability to pay. The decision of the college will be final.