Types of Aid

Institutional Merit-based Scholarships Only

The FAFSA process is not required for students who wish to be considered exclusively for an institutional merit scholarship. These families must notify the Financial Aid Office that they do not plan to file the FAFSA.

Need-based Aid

The FAFSA is required for all students who wish to be considered for federal, state, and institutional grants, student and parent loans and work-study. All students are encouraged to explore opportunities for other outside scholarships.

Institutional aid will be electronically credited to the student's account in the Business Office, provided that all requirements have been met, at the time the first bill of each semester is mailed. The 2020-2021 disbursement dates for federal and state grants and loans are:

Summer - May 6 or July 1, 2019, depending on when the student is enrolled during the summer
Fall semester - August 25, 2020
Spring semester - January 13, 2021

All students receiving any federal, state, or institutional scholarships, grants, loans, and/ or work-study must maintain Satisfactory Academic Progress.

Grants and Scholarships

Pell Grant (for full- and part-time undergraduates)

Need-based grant from the federal government
Amount awarded between $674 and $6,195 for 2019-20 depending on your Expected Family Contribution (EFC) as determined by the FAFSA and enrollment per semester

SEOG Grant - Supplemental Educational Opportunity Grant

Need-based grant from the federal government
Amount awarded between $100 and $4,000 depending on your EFC as determined by the FAFSA and availability of funds
This grant is awarded to students demonstrating the greatest financial need. Due to the limited allocation that LVC receives from the federal government, not all students who demonstrate maximum financial need will qualify.
This grant helps to supplement the LVC Need-Based Grant program and is not awarded as additional aid. If in a subsequent year you are no longer eligible for SEOG, you will be awarded LVC Need-Based Grant in the equivalent amount.

Pennsylvania State Grant (for full- and part-time undergraduate Pennsylvania residents)

Need-based grant administered by Pennsylvania Higher Education Assistance Agency (PHEAA)
Maximum award for 2019-2020 - $4,122
The FAFSA is the application and must be submitted by May 1 prior to the academic year the student will enroll

State Grants - DE, District of Columbia, MA, OH, VT, WV (for full-time undergraduates)

Need-based awards
Amounts vary
If you live in one of the states listed above, contact the higher education agency in your state for more information

Lebanon Valley College Need-Based Grant (for full-time undergraduates)

Need-based award
Your FAFSA serves as the application for an LVC Grant; there is no separate application. Eligibility and amount of award will be determined by the institution based on the merit scholarship awarded by LVC and your financial need. Notification of the award will be made via the financial aid offer. Eligibility requires continued unmet financial need as demonstrated using federal methodology on an annual basis.

TEACH Grant

Reduction Due to Sequestration

Any new TEACH Grants first disbursed after October 1, 2013 are subject to a further reduction due to Sequestration (federal budget cuts). A student who is eligible to receive the full TEACH Grant for 2020-2021 with a first disbursement prior to October 1, 2020 will receive $3,764.

The Teacher Education Assistance for College and Higher Education Grant Program provides grants to students enrolled in a baccalaureate degree program who intend to teach in a public or private elementary or secondary school that serves students from low-income families.

In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. IMPORTANT: If you fail to complete this service obligation, all amounts of TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must repay this loan to the U.S. Department of Education (ED). You will be charged interest from the date the grant was disbursed.
If you are an incoming student, you must have a high school cumulative grade point average or the equivalent of 3.25 or higher. If you are a current student, you must have a college cumulative grade point average of 3.25 after each semester you received the grant to continue eligibility.
For more information about the TEACH Grant, please review ED's TEACH Grant Fact Sheet and the Federal Student Aid website
Eligible students are required to complete initial entrance counseling for the first year and subsequent counseling for each year thereafter. In addition, students must complete an Agreement to Serve each year. LVC will be notified electronically.
Recipients who graduate or become ineligible must complete TEACH Grant Exit Counseling

If you are interested in receiving the TEACH Grant at LVC, please contact Kendra Feigert, director of financial aid, at 717-867-6126 or feigert@lvc.edu to determine your eligibility and complete the necessary paperwork.

Office of Vocational Rehabilitation (OVR) Grant – Pennsylvania (and other states)

This state agency http://www.dli.state.pa.us/portal/server.pt/community/vocational_rehabilitation/10356 provides a variety of services for individuals with physical disabilities, mental/nervous/emotional disorders, drug and alcohol rehabilitation, learning disabilities, and other conditions. Potential OVR clients undergo diagnostic testing to determine eligibility for services. This diagnostic process takes time and should occur well in advance of a student’s enrollment date. Services may include financial support for higher education. Students must complete the FAFSA. Awards are based on a formula that considers the cost of attendance, the Expected Family Contribution, the Pell Grant, and the PA State Grant. If you feel you may qualify for these services, please contact the Pennsylvania OVR District Office that serves your county.

Similar services may be available to students residing in other states.

Pennsylvania Chafee Education and Training Grant Program

This federally-funded program offers grants to Pennsylvania undergraduate students aging out of foster care who are attending an eligible postsecondary institution.

PHEAA administers the Pennsylvania Chafee Education and Training Grant (Chafee) Program on behalf of the Pennsylvania Department of Human Services as authorized under the Foster Care Independence Act of 1999 and amended by the Promoting Safe and Stable Families Amendments of 2001.

Visit PHEAA's website for additional information and to apply.

Scholarships

Scholarships are awarded by the College through the admission process. Additional scholarships are available from outside sources. Please visit the Scholarships page for the complete list.

Loans

Please note that all loans must be repaid.

Federal Direct Stafford Loan (for full- and part-time undergraduate and graduate students)

Guaranteed student loan from the federal government
Loans go into repayment after you cease to be enrolled at least half time
Amount of loan depends on the cost of attendance and cumulative credits earned

Credits	Maximum loan amount
0-27	$3,500
28-55	$4,500
56-83	$5,500
>84	$5,500

Loan may be subsidized or unsubsidized for undergraduate students. Graduate students are limited to an unsubsidized loan; annual maximum for graduate students is $20,500 and actual eligibility may vary depending on cost of attendance and aggregate borrowing history.

Subsidized

need-based
six month grace period prior to repayment
government pays the interest while you are in school; for loans first disbursed after July 1, 2014, interest is also subsidized during the six-month grace period.
fixed interest rate of 4.53% for undergraduate students
1.066% origination (upfront) fee

Unsubsidized

non-need-based
six-month grace period prior to repayment
you are responsible for interest payments while you are in school
fixed interest rate of 4.45% for undergraduates; 6.00% for graduate students
1.062% origination (upfront) fee
all eligible undergraduate students, regardless of need, may borrow $2,000 in unsubsidized Stafford loan in addition to the amounts listed above
please visit the Federal Student Aid website for additional information

Federal Direct PLUS Loan (parent loan for full-time, dependent undergraduates)

Credit-worthy loan from the federal government
Fixed interest rate of 7.08%
4.248% origination (upfront) fee
Loan goes into repayment 60 days after final disbursement
Parent is eligible to borrow up to cost of attendance minus other financial aid
please visit the Federal Student Aid website for additional information

Federal Direct Graduate PLUS Loan (student loan for full-time, graduate students)

Credit-worthy loan from the federal government
Fixed interest rate of 7.08%
4.248% origination (upfront) fee
Loan goes into repayment after student ceases to be enrolled at least half time
Student is eligible to borrow up to cost of attendance minus other financial aid
please visit the Federal Student Aid website for additional information

Student Alternative Loans

Understanding Gap Financing Options

Use this comparative chart to learn more about the loan options available to students and parents after financial aid–scholarships, grants, and federal student loans is deducted. The chart compares the Federal parent PLUS Loan, alternative/private student loans and private parent loans.

Other

Federal Work-Study (for full-time students, both undergraduate and graduate)

Need-based award
Earnings are paid to the student directly, not as a credit to the student's account
Please visit Student Employment for additional information regarding on-campus employment at Lebanon Valley College
Please visit the U.S. Department of Education website for additional information regarding the Federal Work-Study Program

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