Understanding Your Financial Aid & Tuition
Tuition and Financial Aid for Traditional Undergraduate
Learn how to apply for aid and available grants. Evaluate your loan options and discover scholarship opportunities.
Tuition Fast Facts
97% of all undergraduate students receive financial aid.
Here are the estimated annual costs for a first-time traditional undergraduate student (2021-22).
Tuition: $26,690
Room & Board: $9,650*
Student Services Fees: $700
Books & Supplies: $1,000 per year (average)
First-Year Experience Fee (new students only): $300
TOTAL: $38,040*
*Tuition and fees vary from student to student and depend on enrollment date. Other college costs including books and supplies, transportation, room/board package and personal expenses should also be considered in the cost of attending college.
Use our Net Price Calculator to determine your financial aid and tuition fees.
Net Price Calculator
Net Price Calculator
Student Journey
Tenia Ralfi Brown
The Financial Aid Department at LBC was so helpful in making my educational dreams a reality since I was raised by a single mom who passed away when I was... Read More
Types of Financial Aid
Grants and Scholarships
There are many grants available to undergraduate students. Start your financial aid search by exploring grants first – these don’t have to be repaid. Please read the description of each to find out if you are eligible and how to apply. Email LBC’s Financial Aid Office if you need to speak with a financial aid specialist.
There are several types of scholarships available for new, incoming students and continuing students. Most require that students maintain a certain GPA and good standing with the college
LBC Scholarships (for new, incoming undergraduate students in the traditional program)
Federal & PA State Grants
Federal Pell Grant
- Federally funded student gift aid that does not need to be repaid.
- Offered to undergraduate students who have high financial need who are working on their first bachelor’s degree.
- Offered based on expected family contribution and number of credits the student has scheduled.
- May be awarded to students who are less than half-time (six credits).
- The maximum fall-spring-summer award (for the 2021-22 academic year) is $6,495. The maximum per semester is $3,248.
- Students who complete the FAFSA are automatically considered for the grant.
- Students must meet federal student aid eligibility requirements.
Federal Supplemental Educational Opportunity Grant (SEOG)
- Federally funded gift aid awarded by LBC to undergraduate students with exceptional financial need who are working on their first bachelor’s degree.
- Must be enrolled at least half-time (six credits).
- Maximum amount is $1,000 per year.
- Students who complete the FAFSA are automatically considered for the grant.
- Students must meet federal student aid eligibility requirements.
Pennsylvania State Grant
- State-funded gift aid awarded by the Pennsylvania Higher Education Assistance Agency (PHEAA) to undergraduate Pennsylvania residents who demonstrate high financial need.
- Offered based on financial need and enrollment status: full-time (12 or more credits) or half-time (six credits) for a maximum of eight semesters to students enrolled in a four-year major, and a maximum of four semesters to students enrolled in a two-year major.
- Maximum full-time amount beginning with the 2021-22 academic year is $5,000 per year. Maximum half-time amount is $2,500 per year.
- Students who submit their FAFSA information to PHEAA by May 1 are automatically considered for the grant.
- Students must meet federal student aid eligibility requirements.
Note: If you choose to apply for a Summer Pennsylvania State Grant, it will be counted towards your maximum semesters of eligibility.
Grants from Other States
Connecticut
Capitol Scholarship Program
Department of Higher Education
61 Woodland Street
Hartford, CT 06105-2326
860.947.1855
Delaware
Delaware Higher Education Commission
Carvel State Office Building
820 North French Street
Wilmington, DE 19801-3509
302.577.3240
Maryland
Maryland Higher Education Commission
6 North Liberty Street
Baltimore, MD 21201
800.974.0203
Massachusetts
Massachusetts Office of Student Financial Assistance
454 Broadway
Suite 200
Revere, MA 02151
617.727.9420
Ohio
Ohio Board of Regents
Ohio Instructional Grant (OIG)
State Grants and Scholarships Department
P.O. Box 182452
Columbus, OH 43215-2452
614.466.7420 or 888.833.1133
Rhode Island
Rhode Island Higher Education Assistance Authority
560 Jefferson Boulevard, Suite 100
Warwick, RI 02886
401.736.1170
Vermont
Vermont Student Assistance Corporation
Champlain Mill/Grant Department
P.O. Box 2000
Winooski, VT 05404-2601
802.655.9602
West Virginia
West Virginia Higher Education
1018 Kanawha Boulevard, East Suite 700
Charleston, WV 25301-2827
304.558.4618
Academic Scholarships
Students are eligible for only one academic scholarship.
Academic Merit Scholarship
Up to $12,500 per year.
Effective January 2022, first-time freshman with a high school GPA of:
| HS GPA | Scholarship |
| 2.50-2.74 | $2,000 |
| 2.75-2.99 | $3,000 |
| 3.00-3.24 | $4,000 |
| 3.25-3.49 | $5,000 |
| 3.50-3.74 | $7,000 |
| 3.75-3.99 | $8,000 |
| 4.0+ | $10,000 |
Bonus Academic Scholarship. Students that choose to submit their standardized test scores, can get a “bonus” academic scholarship based on how they scored.
| Test Scores | Scholarship | ||
| SAT 980-1070 | ACT 19-21 | CLT 63-69 | $500 |
| SAT 1080-1200 | ACT 22-25 | CLT 70-78 | $1,000 |
| SAT 1210-1390 | ACT 26-30 | CLT 79-94 | $1,500 |
| SAT 1400+ | ACT 30+ | CLT 95+ | $2,500 |
Transfer Academic Scholarship
$3,000 to 5,000 per year.
- Students transferring a minimum of 15 credits that have earned a minimum cumulative GPA of 3.5 will receive $5,000.
- Renewable with cumulative GPA of at least 2.5.
- Students transferring minimum of 15 credits that have earned a minimum cumulative GPA of 3.0 – 3.49 will receive a $3,000.
- Renewable with a minimum cumulative yearly GPA of 2.5.
- Bible Institute Scholarship recipients do NOT qualify.
Other LBC Scholarships
Scholarships are for full-time students except where noted.
AWANA Scholarship
Awarded to new freshmen who have earned specific awards in AWANA clubs. Timothy Award is $750; Meritorious Award is $1,000; Citation Award is $1,500. Verification is required from the student’s AWANA Commander. Renewable with 2.3 minimum GPA, and the student must be in good standing with the college.
Bible Institute Scholarship
A $3,500* annual awarded to students transferring directly from one of these institutes:
- Word of Life Bible Institute ($7,000)
- Berkshire Institute for Christian Studies ($7,000)
- Montana Wilderness School of the Bible ($5,000)
- Evangelistic/Encounter Revival Ministries
- New Tribes Bible Institute
- New Brunswick Bible Institute
- 412 Commission
- True North Internship
- Great Commission Bible Institute of Florida
- Summit International School of Ministry
- Ravencrest Bible School
- Torchbearers Bible School
- Elim Bible Institute
Students must complete at least one year at one of those schools. The admissions application file will be used for scholarship application. Students must have at least a 2.0 transferring in to receive this scholarship. Renewable with a 2.3 minimum GPA, and the student must be in good standing with the college.
*unless otherwise noted
Charger Grant
Need-based scholarship from LBC of up to $4,800/annually based on a the FAFSA calculated Estimated Family Contribution (EFC). Renewable with a 2.3 GPA.
Child of Alumni Scholarship
Awarded to dependent students (under 24) of LBC alumni. $2,500 annual award. Alumnus’ standing must be verified through the LBC Alumni Office and/or CampusVue. Renewable with 2.3 minimum GPA, and the student must be in good standing with the college.
Child of Full-time Christian Worker Scholarship
Awarded to dependent students (under 24), whose parent is in full-time Christian ministry with a non-profit Christian organization. Verification of the ministry is required. In addition, students are encouraged to file a FAFSA prior to May 1. Awards range from $1,000 to $5,000 annually, based on their EFC. Renewable with minimum 2.3 GPA, and the student must in good standing with the college. Students must complete this form.
Church Matching Scholarship
LBC will match up to $500 for both the fall and spring semesters. Students must complete the Church Matching Scholarship Application . Funds from the church must be submitted by August 5 (for fall) and January 5 (for spring) in order to be matched. Students must have minimum 2.0 GPA and must be in good standing with the college.
Financial Need Scholarship
This scholarship is for students with financial need. A FAFSA is required. A factor formula has been established by the Scholarship Committee to award these funds.
International Student Scholarship
A $3,000 annual tuition award is available to international students who have been accepted to LBC and demonstrate financial need as determined by the International Student Financial Aid Application. Scholarship is renewable with a 2.3 cumulative GPA, and the student must be in good standing with the college.
Leadership Scholarship
A $1,500 tuition scholarship awarded to entering students who demonstrate good academic potential and give evidence of leadership. Students must participate in the LeadNow Leadership Development Program. Renewable with a 3.0 Cum GPA as well as exhibiting leadership within one area of service on the LBC campus as determined by Student Affairs.
Mission Agency Partnership Scholarship
Awarded to a dependent student of a full-time missionary serving with ABWE, Christar, Crossworld, OMF, Pioneers, SEND, TEAM, World Team, or Wycliffe Bible Translators USA on a foreign field. $7,000 annual award. Renewable with a 2.3 minimum GPA and good standing with the college. Students receiving this scholarship are not eligible to receive the child of Full-time Christian Worker Scholarship.
Music, Worship & Performing Arts Scholarship
This scholarship is awarded to first-time freshman students enrolled in a Music, Worship & Performing Arts major who have demonstrated ability and potential in the music field. Students must audition for this scholarship. Scholarship amounts vary and are renewable based on a 2.75 cumulative GPA and recommendation by the Chair of the Music, Worship & Performing Arts Department.
OneLife Scholarship
Awarded to students who transfer directly from OneLife Institute. Students must have at least a 2.0 transferring in to receive this scholarship. $12,000 annual award is non-stackable. Renewable with a 2.3 minimum GPA, and the student must be in good standing with the college.
Premier School Partnership Scholarship
Awarded to entering students who have graduated from a Christian school with which the LBC Admissions Department has a partnership. $1,800 annual award to a commuter student; $3,600 annual award to a dorm student. Renewable with a 2.3 GPA
Project Bridges Scholarship
Students whose church is a member of Project Bridges are guaranteed to receive LBC scholarships that covers a percentage of their annual tuition. Complete the required application . Deadline is August 1.
Sibling Scholarship
Awarded to dependent students (under 24) when two or more siblings from the same household attend LBC full-time in the traditional undergraduate program. $1,200 annual award. Renewable with a 2.3 minimum GPA, and the students must be in good standing with the college. (This does not apply to married students).
Summit Ministries Scholarship
A $1,000 annual tuition award is given to any prospective student that has applied to LBC and has attended a 12-day summer Summit Student Conference. Prospective students that have attended a Summer Student Conference but have not yet applied to LBC are eligible for a $2,000 annual scholarship.
Scholarships for Continuing Undergraduate Students (Traditional)
Dean’s Scholarship (Students receiving an Academic Scholarship are not eligible.)
A $3,000 annual tuition scholarship is awarded to a continuing student who earns a cumulative GPA between 3.50 and 3.74, or a $4,000 annual tuition scholarship for a GPA of 3.75 and above. Students must be full-time both during the year of academic achievement and the upcoming fall semester. The only exception will be seniors who need only between 6 and 11 credits to graduate. In this case the award will be prorated.
Endowment Scholarships
All returning students can apply each year for several endowment scholarships. Criteria and amounts vary for each scholarship. Application is required by published deadline date. View the list .
Other Outside Resources
Pennsylvania Fostering Independence Tuition Wavier (FosterEd) Program:
Lancaster Bible College is a participant in the PA Fostering Independence Tuition Waiver (FosterEd) Program. Please contact the LBC Point of Contact: Rosie Lammey at financialaid@lbc.edu for additional information.
Veterans
- Apply to the Department of Veterans Affairs for your Certificate of Eligibility (COE). Apply online today. gibill.va.gov
- While awaiting your COE, apply to LBC for admission. Please note: It could take up to eight (8) weeks for your COE to be approved by the VA. LBC does not have any involvement in this process.
- Complete the LBC Application & Enrollment Checklist for VA benefits.
For more details about military benefits, click here.
Vocational Rehabilitation
For physically or mentally challenged students. Apply at your local vocational rehabilitation office. Pennsylvania residents OVR phone: 800.762.6306
Private Scholarships
www.fastweb.com is a free scholarship search engine that matches as student’s personal data to eligible scholarships by scanning a pool of thousands of scholarships nationwide. Your high school guidance counselor is also a wonderful source of information regarding scholarships you may qualify for.
Student Loan Options
Because grants and scholarships are limited, many students must rely on loans to cover at least some portion of college costs. Accelerated Undergraduate students may borrow money for education. In fact, approximately 80% of LBC’s aid recipients borrow educational loans.
The following steps represent borrowing options, beginning with the best value and proceeding to other, less favorable loan options based on interest rates, loan terms and conditions, and repayment options. These loan options may be used alone or in combination with each other.
LBC is committed to providing students and their families with the best information regarding student borrowing. For that reason, we have adopted a Student Lending Code of Conduct.
Federal Direct Loans
A federal loan program is available to all students.
Federal Direct Loans are available to eligible students who complete the Free Application for Federal Student Aid (FAFSA). This federal student aid is made available through the William D. Ford Federal Direct Loan Program to help pay for educational expenses. The Financial Aid Office awards a Direct Subsidized or Direct Unsubsidized Loan, or a combination of both loans, based on financial need.
- Federal Direct Subsidized Loan
A Federal Direct Subsidized Loan is awarded based on your demonstrated financial need. The federal government pays interest on a subsidized loan, while you are enrolled in school at least half-time and during grace and other deferment periods. The interest rate for Federal Direct Subsidized loans disbursed on or after July 1, 2021 until June 30, 2022 is fixed at 3.73%. - Federal Direct Unsubsidized Loans
A Federal Direct Unsubsidized Loan is not based on your financial need. The interest rate for Federal Direct Unsubsidized Loans disbursed on or after July 1, 2021 until June 30, 2022 is fixed at 3.73%. You are not required to pay the interest on this loan while in school, but we recommend that you do. You will be charged interest, starting at disbursement until the loan is paid in full. If the interest accumulates, it will be added to the principal amount of the loan and increase the amount to be repaid.
Loan Limits
Annual Subsidized Limits
- First year undergraduates = $3,500
- Second year undergraduates = $4,500
- Remaining undergraduate years = $5,500
- Preparatory coursework needed to enroll in graduate program if student has a baccalaureate = $5,500
- Teacher Certification if student has a baccalaureate = $5,500
Note: Graduate students no longer eligible for Subsidized Loans for loan periods beginning on or after July 1, 2021.
Annual Unsubsidized Limits
- Dependent undergraduates whose parents can borrow PLUS = $2,000
- First and second year undergraduate dependent students whose parents cannot borrow PLUS and independent students = $6,000
- Remaining undergraduate years for dependent students whose parents cannot borrow PLUS and independent students = $7,000
- Preparatory coursework needed to enroll in graduate program if student has baccalaureate = $7,000
- Teacher Certification if student has a baccalaureate = $7,000
- Graduate students = $20,500
Aggregate Limits
- Undergraduate dependent students = $31,000 (up to $23,000 may be subsidized)
- Undergraduate independent students and dependent students whose parents cannot borrow PLUS = $57,500 (up to $23,000 may be subsidized)
- Graduate students = $138,500 (up to $65,500 may be subsidized)
Steps to Apply
- You must complete the FAFSA each year.
To be eligible, you must be enrolled in a degree major for at least six credits per semester and maintain LBC’s satisfactory academic progress standards. - E-sign Your Federal Direct (Subsidized or Unsubsidized) Loan Master Promissory Note (MPN).
If you are a first-time borrower of the Federal Direct loan, you will be required to complete a Master Promissory Note (MPN) before the loan funds can be disbursed. In most cases, you will only need to complete one MPN during your college career. E-sign your federal Direct loan MPN at studentloans.gov using your Federal Student Aid PIN by selecting Sign-In. After you sign in, choose Complete MPN and then select Subsidized/Unsubsidized. Follow the four-step process listed on the studentloans.gov website to sign your MPN. - Complete Loan Entrance Counseling
If you are a first-time borrower of the Federal Direct Loan, you are required to complete Loan Entrance Counseling before the loan funds can be disburse. To take the counseling, select Entrance Loan Counseling on the studentloans.gov website. This counseling session provides you with information that will help you understand your rights and responsibilities as a loan borrower, as well as other tools to assist you with managing your loans.
*Please note that this requirement is separate from e-signing the loan MPN.*
Fees
An origination fee of 1.057% will be deducted from the gross amount of the loan borrowed, so you need to take that into consideration when determining the amount you need to borrow.
Receiving Federal Direct Loan Funds
It’s important to know that loan funds will automatically credit to your student account if the Direct Loan Processor has a valid MPN on file for you, and you have completed loan entrance counseling. After you have completed your registration and semester classes begin, your student financial aid will begin to disburse into your student account.
Reduce or Decline a Loan
If you wish to reduce or cancel your loan(s), please go to the LBC Student Portal and choose Financial Aid Awards where you can reduce or cancel your loan.
Student Loan Repayment and Disputes
Students and parents who borrow Federal Direct Loans will repay their loans to a Federal Loan Servicer. Students are required to participate in Entrance Loan Counseling prior to their first disbursement of a federal student loan, and will be notified of the requirement to complete Exit Loan Counseling at the time of withdrawal or graduation. Exit Loan Counseling will inform students of their Federal Loan Servicer. This information is also available to students and parents at any point during their education on the National Student Loan Data System.
Detailed information about federal student loans, repayment and deferment is found at studentloans.gov. Students are also encouraged to contact their LBC Financial Aid Advisor with any questions.
If issues arise during student loan repayment that cannot be resolved with the Federal Loan Servicer, students or parents may contact the FSA Student Loan Ombudsman Group. The Federal Student Aid Ombudsman Group of the U.S. Department of Education is dedicated to helping resolve disputes related to Direct Loans, Federal Family Education Loan (FFEL) Program loans, Guaranteed Student Loans, and Perkins Loans. The Ombudsman Group is a neutral, informal, and confidential resource to help resolve disputes about your federal student loans.
FSA Student Loan Ombudsman Group Contact Information:
FSA website | Phone: 877.557.2575 | Fax: 606.396.4821
Mail: FSA Ombudsman Group
PO Box 1843, Monticello, KY 42633
Federal Direct Loans are available to eligible students who complete the Free Application for Federal Student Aid (FAFSA). This federal student aid is made available through the William D. Ford Federal Direct Loan Program to help pay for educational expenses. The Financial Aid Office awards a Direct Subsidized or Direct Unsubsidized Loan, or a combination of both loans, based on financial need.
Federal Direct Parent PLUS Loan
When undergraduate students need funding beyond the Direct Subsidized/Unsubsidized Loans or Perkins Loan, parents may need to consider the PLUS Loan. LBC participates in the Direct Lending Program with the U.S. Department of Education. This program allows parents of dependent undergraduate students to borrow a Federal Direct Parent PLUS Loan to help pay for educational expenses.
- Borrow up to the total cost of attendance, minus all other sources of financial aid
- 6.28% fixed interest rate on loans disbursed on or after July 1, 2021 until June 30, 2022
- Required net fees of 4.228% deducted from each loan disbursement
- Option to defer repayment while student is enrolled in school
- Request Parent PLUS Loan Instructions & Request Form available to parents
Eligibility
A student must be enrolled at least half-time (six credits) in a degree major and meet all other eligibility requirements, which includes maintaining satisfactory academic progress.
- Parent borrower consents to a credit check by the U.S. Department of Education by submitting the Parent PLUS Loan Instructions & Request Form.
- Adverse credit typically results in a denied credit check.
Borrowing Limits
- Yearly borrowing limits are equal to your student’s estimated cost of attendance (tuition, fees, room and meals, books, transportation and supplies), minus other financial aid your student receives. Students can view their estimated cost of attendance through the Student Portal by choosing Financial Aid Awards.
- Loan term dates are fall only, spring only or fall/spring combined. Be sure to take the loan period into consideration when determining the amount to borrow.
- We recommend waiting until the student receives the tuition bill before applying for the Parent PLUS Loan.
Applying for Parent PLUS Loan
- Parent must e-sign the Parent PLUS loan by going to studentloans.gov
- Parent must sign with their Department of Education PIN number.
- Parent must select “Parent PLUS Loan” and complete the Master Promissory Note.
Credit Decisions
The U.S. Department of Education will mail the credit check results to the parent borrower and electronically transmit the results to LBC.
- Approved Parent PLUS Loans with a signed MPN appear in the student’s financial aid report on My Community
- Denied Parent PLUS Loans allow the student to borrow an additional amount of unsubsidized loan.
- Borrowers have the option to either appeal the credit decision with the U.S. Department of Education or get an endorser for the loan.
Processing and Receipt of Funds
- Once the credit check is approved and a valid MPN is on file, the Parent PLUS loan funds will be applied toward payment of tuition and fees, room and board and other LBC charges on the student’s tuition bill.
- Borrowers that apply for a fall/spring combined loan period can expect the loan to be split in two equal installments.
- Loan decreases can be requested by contacting the LBC financial aid office at financialaid@lbc.edu or by calling 717.560.8254.
- Loan increases can be processed by completing the Parent PLUS Loan Instructions & Request Form on Account Center for only the additional amount needed.
Refunds
If a credit balance remains after all charges are paid in full on the tuition bill, the credit will be refunded to the parent borrower.
Repayment and Deferment
- Repayment begins 60 days after the final loan disbursement during the academic year. Parents have up to 10 years to repay the loan.
- Deferment allows parents to delay repayment until after their student is no longer enrolled at least half-time (six credits).
- Parents may request a deferment of each new Parent PLUS Loan by calling the Direct Loan Servicing Center toll-free at 800.848.0979. Parents may need to provide a copy of their student’s academic record to the center.
Private Education Alternative Loans
Private Education Alternative loans are private loans (not part of the federal government programs) that are obtained through a lending institution.
Give yourself credit! Credit scoring is calculated using many pieces of your past bill payment history. The way you managed credit in the past is often a good indication of how you will manage credit in the future. Lenders use credit scores to make fast and objective decisions on which applicants are likely to repay their loans on time.
What should I look for in an alternative loan?
• Annual Percentage Rate (APR) – What is the annual cost of the loan, including interest and the effect of any fees and charges?
• Pre-approval – Does the lender offer an opportunity to find out quickly if you qualify?
• Repayment Period – How long is the time allotted to repay the loan?
• Electronic Signature – Can the federal application be completed online with an electronic signature?
• Repayment – When does repayment begin and what are the options for repayment.
• Cosigner Release – Is a cosigner required and does the lender offer a cosigner release option if you make a required number of on-time payments?
• Repayment Incentives – Does the lender offer any rewards or incentives for on-time payments?
• Loan Cancellation Features – Does the lender offer cancellation of the loan in case of death or permanent disability?
• Loan Limits – Is there a loan limit and will the limit meet your needs?
• Interest Capitalization – When is the interest added to your principle balance?
• Servicer – Does the lender service its own loans?
Is a private loan the right option for you?
At LBC, we think it’s important to factor Christ into any decision. Deciding how to finance your college education is an important decision. You should consider all of the factors that are important to you. Paying for your education is a life-long investment.
For more information, go to www.elmselect.com/#/. On this site, you can find a list of lenders that offer private loans. Please note that you are free to select whoever you wish. This is only a partial listing of lenders that other LBC students have used. Note: A FAFSA is not required to apply for an alternative loan.
Get Started
Take the following steps to apply for Free Application for Federal Student Aid (FAFSA)
1
Create Your FSA ID
Watch this video to help you understand how to create your Federal Student Aid ID that you will use throughout your educational experience. Make sure to save your user name and password for future use.
2
Fill Out An Application
Complete your Free Application for Federal Student Aid (FAFSA) as soon as possible after October 1. Lancaster Bible College’s federal school code is 003285.
LBC is pleased to be a participant in the Post 9/11 GI Bill® Yellow Ribbon Program
The Yellow Ribbon GI Education Enhancement Program (Yellow Ribbon Program) is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008. Learn more about using your military benefits at Lancaster Bible College, click here.
*GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at www.benefits.va.gov/gibill.
Financial Aid FAQs
Campus Employment
LBC has many campus jobs available, funded through the Federal Work Study program. It’s a great way to earn money during the course of the semester to help offset text book costs and living expenses.
Federal Work-Study is a student financial aid program for eligible undergraduate students with high financial need.
- All students who answer “yes” to the question: “Are you interested in work-study?” on the Free Application for Federal Student Aid (FAFSA) on the web are considered for work-study for fall and spring semesters. (Federal Work-Study is a need-based aid program, so not all students who answer “yes” on the FAFSA receive a work-study award.)
- Work-Study allows you to earn money to cover a portion of your educational expenses by working on campus.
- Work-Study will not be credited towards your tuition bill. Work-Study recipients are paid every two weeks and earn at least minimum wage.
- If you are offered federal Work-Study, it is your responsibility to find a work-study position.
As with all aid programs, work-study recipients must maintain federal student aid eligibility requirements.
Financial Aid Timeline
The LBC financial aid office is here to assist you throughout the entire application process.
- Complete the Free Application for Federal Student Aid (FAFSA). LBC’s federal school code is 003285.
- Review Student Aid Report from the federal processor. Check for accuracy and make corrections if needed.
- LBC will receive your Student Aid Report electronically.
- Reply promptly for requests for additional information (copies of federal tax returns, W-2s, verification worksheets, and other documentation)
- Financial aid offers will begin to be sent out in November to all new incoming, accepted students.
- Accept your financial aid offer online at the LBC student portal.
- Complete Entrance Loan Counseling and the Direct Loan Master Promissory note at studentaid.gov if using Federal Student Loans
- Financial aid funds are applied to student accounts after the start of classes and registration has been confirmed.
Eligibility Requirements
Before we can identify potential funding sources for you, you have to meet these requirements.
- Must complete the Free Application for Federal Student Aid (FAFSA) each year (instructions on how to apply can be found in the next section). Make sure you file the FAFSA by the filing deadline for your state.
- Must comply with LBC’s academic progress standards
- Must not be in default on an educational loan and must not owe a repayment on an adjusted federal grant.
- Must be enrolled in an eligible degree major.
- Must be enrolled at least half-time (six credits for undergraduate, three credits or above for graduate students).
- If male and age 18-25, must be registered for Selective Service.
- Must be a citizen or eligible non-citizen with a valid Social Security number.
- Must have a high school diploma.
I have just learned that I must maintain "Satisfactory Academic Progress." What is it?
In order to maintain financial aid eligibility, a student must meet the requirements of Satisfactory Academic Progress.
Read the Requirements