FAQs about Financial Aid for Traditional Undergraduate
Room – $3,530
Board – $4,480
Fees – $630
No. Tuition, room and board are the same for in-state and out-of-state residents.
Yes. Most new students are placed in the physical plant (maintenance/housekeeping), Dining Services, or the Library. Other employment opportunities exist in the offices, mail room, copy center and the gym. However, international students may only work on campus according to their student visa.
The cost of books depends on how many and what type of book. The campus bookstore (Bookends) has very reasonably priced books. Some students prefer to buy their books online.
Fill out the FAFSA form. All other financial aid is based on the student's admissions file.
Talk with our financial aid staff to find out more.
Tuition and fees are due prior to the beginning of a new semester, and the college will send you a bill for any unmet costs. Payment plans are also available.
Yes. Please see the NelNet Business Solutions links on our Student Portal to learn more.
Tuition Refunds for Withdrawal from College:
During 1st week of classes – 100%
During 2nd week of classes – 80%
During 3rd week of classes – 60%
During 4th week of classes – 40%
During 5th week of classes - 25%
No refunds after 5th week of classes
Room and Board Refunds:
During 1st week of classes – 90%
During 2nd and 3rd week of classes – 80%
During 4th and 5th week of classes – 60%
During 6th, 7th, and 8th week of classes – 40%
No refunds after 8th week of classes
Undergraduate Federal Aid Refund Policy:
The Financial Aid Office is required by federal law to determine how much financial aid was earned by students who withdraw, drop out, or are dismissed prior to completing 60% of a payment period or term. For a student who withdraws after the 60% point-in-time, there are no unearned funds.
The calculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:
Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.)
If a student earned less aid than was disbursed the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower ma y owe a debit balance to the institution.
The institution must return the amount of Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student’s withdrawal.
Refunds are allocated in the following order:
1. Unsubsidized Federal Direct Loan
2. Subsidized Federal Direct Loan
3. Federal Perkins Loan
4. Federal Direct PLUS Loan
5. Federal Pell Grant
6. Federal Academic Competitiveness Grant
7. Federal Supplemental Educational Opportunity Grant
8. Federal Iraq Afghanistan Service Grant
In order to maintain financial aid eligibility, a student must meet the following requirements of satisfactory academic progress:
The U.S. Department of Education mandates institutions to establish standards of satisfactory progress for all students receiving financial aid. Lancaster Bible College will make the following standards applicable to all federal and LBC funds awarded to students.
Student Aid Programs Affected:
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant
- Federal Work Study
- Federal Perkins Loan
- Federal Direct Subsidized/Unsubsidized Loans
- Federal Direct Parent PLUS Loan
- LBC Scholarships
Note: The Satisfactory Academic Progress Standard does not apply to the Pennsylvania State Grant Program. Pennsylvania (PHEAA) has established its own satisfactory academic progress standards. The award notices sent from PHEAA describe the satisfactory academic progress requirements.
Requirements for Satisfactory Academic Progress:
Satisfactory Academic Progress for a full-time student has two components. This information is detailed in the College Catalog, the Student Handbook, and is posted on the LBC website.
|Credits Passed||Cumulative GPA|
Undergraduate students must successfully complete a minimum of 67% of the credit hours attempted each academic year. The academic year begins with the fall semester and ends with the summer semester.
Maximum Time Frame for Completion of Education Objective:
Undergraduate students must complete their degree program within 150% of the published length of their degree program. For example, a student enrolled in the four year program should complete the degree in 12 semesters (6 years); a student enrolled in the two year degree program should complete the degree in 6 semesters (3 years); a student enrolled in the one year certificate/diploma should complete the degree in 4 semesters (2 years).
Requirements for a Part-Time Student
Students who are part-time (below 12 credits) must complete 67% of credits attempted per year in order to maintain academic progress. Cumulative grade point average requirements are the same as the full-time students.
Students may repeat previously passed courses only once. Students may repeat a failed course numerous times until it is passed. Repeated courses will count toward determination of enrollment status and will be eligible for financial aid only once. Repeated courses are computed in completion rate.
Withdrawn courses neither earn credit nor influence grade point average. Withdrawn courses may affect completion rate if course is dropped after the add/drop period set by the Registrar. Students may retake courses from which they have withdrawn which will count toward determination of enrollment status in that semester and will be eligible for financial aid.
Incomplete courses do not earn credit nor influence grade point average in the semester they are listed as incomplete. Incomplete courses either turn into an “F” grade if not completed or into a different letter grade when completed.
Audit courses neither earn credit nor influence grade point average. They are not eligible for financial aid.
Remedial courses will count toward determination of enrollment status and will be eligible for financial aid and are included in determining completion rates.
Change of Major:
If students change majors, the credits earned under all majors will be included in the calculation of attempted, earned, and maximum timeframe credits, as well as GPA calculations.
The credits that are transferred are calculated into the overall credits earned total but are not factored into the cumulative GPA when a student transfers into LBC. Therefore, new transfer students will come at a satisfactory academic progress level. A student’s progress will be evaluated at the end of the academic year. Transfer credits are included in determining completion rates.
Students may make up credit deficiency and cumulative GPA by attending summer school. Credits earned during summer school as well as cumulative GPA will be evaluated following summer school to determine academic progress for the past academic year.
Evaluation of Academic Progress:
For students enrolled in the one year certificate programs, evaluation of satisfactory academic progress will be done at the end of each payment period. If a student fails to make satisfactory academic progress at the end of the first payment period, they will be placed on “Academic Warning”. The student may continue to receive Title IV aid for one payment period and no appeal is necessary.
For students enrolled in the two year and four year degree programs, evaluation of satisfactory academic progress will be done at the end of each academic year. The total (cumulative) academic record is considered when academic progress is considered when academic progress is evaluated (not just terms when financial aid was received). Students who are not successfully completing courses at the minimum levels as outlined are considered to be making unsatisfactory progress and will not be eligible for financial aid for the following semester.
Students may appeal financial aid termination status in writing on the appeal form included with this policy. Such appeals must be made within 30 days after the date of the letter of notification and must include appropriate request documentation. The appeal must be in written form, addressed to the Financial Aid Director for consideration by the Financial Aid Committee. Mitigating circumstances which would be considered upon appeal as adequate reasons for reinstatement would be:
- student illness, accident or hospitalization
- death or illness of parent or relative
- other family emergencies or unusual circumstances
The appeal must include why the student failed to make satisfactory academic progress, what has changed that will allow the student to make satisfactory academic progress for the next semester.
If the appeal is granted the student will then be placed on “Academic Probation” and will be allowed to receive Title IV aid for the next payment period or be placed on academic plan that will ensure the student is able to meet satisfactory academic progress by a specific point in time.