Financial Aid[ Tuition | Payment Plans Federal and State Aid | LBC Scholarships| DCP Home ]
Note: Students must apply for financial aid for each term of the Degree Completion Program. Please contact the Financial Aid Office to ensure completion of the correct FAFSA (Free Application for Federal Student Aid) for the term for which you are applying.
Contact the Degree Completion Office for the current tuition fee.
- Payment in Full for each Term - This option requires that you pay your remaining balance in full prior to the beginning of the term.
- Lancaster Bible College ACH Debit Payment Plan - This option provides a convenient five-month payment plan for each term. The enrollment fee is $15 per term.
| Eligibility | Application | Yearly | Annual Amount |
|---|---|---|---|
| Federal Pell Grant | |||
| Exceptional financial need demonstrated. 3 credit minimum. U.S. Citizen or permanent resident. |
Complete the FAFSA School Code is 003285 |
Yes | $400 to $4,731 (2008-09) |
| PA State Grant | |||
| Must take at least 3 classes in a row. | Complete the FAFSA prior to May 1. School Code is 003285 |
Yes | Amount is half-time rate |
| Federal SEOG (Supplemental Educational Opportunity Grant) | |||
| Exceptional financial need demonstrated. 6 credit minimum. U.S. Citizen or permanent resident . | Complete the FAFSA School Code is 003285 |
Yes | $400 to $700 |
| State Grants (other than PA) | |||
| Financial need demonstrated. 6 credit minimum. CT, DE, MA, ME, OH, RI, VT, WV allow state grants to be used at PA colleges. |
Complete the FAFSA School Code is 003285 Filing deadlines vary for each state. |
Yes | Varied amounts |
| VA Educational Benefits | |||
| Veterans of Armed Forces or National Guard Reservists VA phone: 1.888.442.4551 |
Apply through local VA offices | No | Varied amounts |
| Vocational Educational Benefits (OVR) | |||
| Physically or mentally challenged students OVR phone: 1.800.762.6306 | Complete the FAFSA School Code is 003285 Apply at local vocational rehabilitation office. |
Yes | Varied amounts |
| Eligibility | Application | Yearly | Annual Amount |
|---|---|---|---|
| Subsidized Federal Stafford Loan | |||
| Financial need demonstrated. 6 credit minimum. U.S. Citizen or permanent resident. Repayment begins 6 months after student is no longer enrolled at least half-time. Interest begins at repayment. | Complete the FAFSA Complete the Federal Master Promissory Note (click on Apply for a Stafford Loan) School Code is 003285 | Yes | Freshmen: $3,500 Origination Fee may apply |
| Unsubsidized Federal Stafford Loan | |||
| No financial need (Subsidized Stafford Loan has been reduced or denied). 6 credit minimum. U.S. Citizen or permanent resident. Repayment begins 6 months after student is no longer enrolled at least half-time. Quarterly interest payments required during in-school period. For Independent Students, or for students whose parents have been denied a Plus Loan. | Complete the FAFSA Complete the Federal Master Promissory Note (click on Apply for a Stafford Loan) School Code is 003285 | Yes | (See limits above)
Freshmen: +$4,000 Origination Fee may apply |
| Private Alternative Loan | |||
| Students may apply (most students will need a credit-worthy co-signer). 6 credit minimum. Repayment for most loans begins after the student is no longer enrolled at least half-time. Interest payments would be due while student is enrolled | Complete Application | Yes | College costs less financial aid received |
- Church Matching Scholarship - LBC will match up to $500. Students must complete the Church Matching Scholarship application. Funds from the church must be submitted by August 1. Scholarship applied to fall semester only. Students must have a 2.0 GPA.
- Financial Need Scholarship - For students with financial need. Amounts vary.
- Full-Time Christian Worker - Full-time Christian workers with a minimum of two years in ministry prior to studies at LBC plus current full-time ministry employment. Scholarship ranges from $100 - $400 per course and based on financial need as determined by the FAFSA.
DISBURSEMENT SCHEDULES FOR DCP FINANCIAL AID
Federal Aid cannot be applied to your account until 6 credits have been completed.
Stafford Loans will be disbursed in two disbursements for each term. The second disbursement will not arrive until after the half-way point of each term.
Pennsylvania residents must take at least three classes in a row in order to qualify for PA State Grant awards. Grants are awarded by PHEAA to on-time recipients at the half-time rate. If you qualify, your grant will not be credited to your account until you are enrolled in the third class.
If your financial aid awards exceed your schedule bill, you may submit a CREDIT ON ACCOUNT REFUND REQUEST to the Business Office. Refunds will not be processed until all financial aid has been updated to your account.