Applying for Financial Aid

This is how the application process works. The LBC financial aid office will assist you when needed.

  1. You complete the Free Application for Federal Student Aid (FAFSA) LBC federal school code is 003285.
  2. You review Student Aid Report from the federal processor. Check for accuracy and make corrections if needed.
  3. LBC will receive Student Aid Report electronically.
  4. You reply promptly for requests for additional information (copies of federal tax returns, W-2s, verification worksheets and other documentation)
  5. Financial aid awards will begin to be sent out by March 15 to all new incoming, accepted students.
  6. Students may accept their financial aid awards online at the LBC student portal.
  7. You complete Entrance Loan Counseling and the Direct Loan Master Promissory note at www.studentloans.gov
  8. Financial aid funds are applied to the student account after the start of classes and registration has been confirmed.

Expected Family Contribution

The information you report on your FAFSA is used to determine your Expected Family Contribution (EFC), which is a calculated formula established by law. Your EFC is not equal to the amount you and your family must pay, but rather an index that allows colleges to determine financial need. To determine your financial need, your EFC is subtracted from your cost of attendance.