Understanding Your Financial Aid

Navigate within Undergraduate

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.

Annual costs for a first-time traditional undergraduate student (2019-20)*:

  • Tuition: $25,490
  • Room & Board: $9,150
  • Student Services Fees: $680
  • Books & Supplies:  $750 per year (average)
  • First Year Experience Fee (new students only): $300
  • Total: $36,370

*Tuition and fees vary from student to student and depend on enrollment date. Other college costs including books and supplies, transportation, 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.

How To Apply for Financial Aid

If you’re like most of our students, you’ll have to seek financial aid. The LBC Financial Aid Office can help.

Together, we’ll explore which funding sources match your eligibility and need. We’ll also help you complete all the necessary paperwork and answer any questions you may have. We’re here to put your financial worries to rest.

You should know LBC is a great value compared to many other accredited Christian and secular independent colleges. We keep tuition costs below the national average, while delivering a purposeful, Bible-centered education. Above all, have faith. You can afford it!

Student's Journey

Thomas Heotzler (’18)

emily study abroad experience
The financial aid department at LBC went above and beyond as they worked hard to make my education at LBC possible... Read More

Resources

Verification

Contact Financial Aid Office

Get Started

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.

Watch Now

2. FILL OUT 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.
Submit Your FAFSA

RESOURCES FOR FAFSA ASSISTANCE

  • Seven Easy Steps to the FAFSA. A student’s guide to the Free Application for Federal Student Aid. Learn More
  • How to Use the IRS Data Retrieval Tool on the FAFSA. Learn 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.
  • Awarded to undergraduate students who have high financial need who are working on their first bachelor’s degree.
  • Awarded 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 2019-20 academic year) is $6,195. The maximum per semester is $3,098.
  • 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 award 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.
  • Awarded 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 award beginning with the 2019-20 academic year is $4,122 per year. Maximum half-time award is $2,061 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.
  • The Pennsylvania State Grant regulations state that, for an approved major of study, at least 50% of the coursework for the minimum major length must be taken through classroom instruction in order to remain eligible for Pennsylvania State Grant consideration. Students enrolled in online classes may be eligible for a reduced award.

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

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.

Transfer Academic Scholarship
$1,500 to 3,000 for first academic year.

  • Students transferring a minimum of 15 credits and earned a minimum cumulative GPA of 3.5 will receive a $3,000 Transfer Academic Scholarship
  • Students transferring minimum of 15 credits and earned a minimum cumulative GPA of 3.0 – 3.49 will receive a $1,500 Transfer Academic Scholarship
  • Bible Institute Scholarship recipients do NOT qualify. Renewable as Dean’s Scholarship.

Academic Merit Scholarship
Up to $12,000 over 4 years.

  • First-time freshmen with CLT 58-67/ACT 19-21/SAT 980-1070 (SAT combination of math/critical reading) and high school GPA of 2.5-4.0.
  • Renewable with minimum cumulative yearly GPA of 2.5.

Academic Achievement Scholarship
Up to $24,000 over 4 years.

  • First-time freshmen with CLT 68-75/ACT 22-23/SAT 1080-1160 (SAT combination of math/critical reading) and high school GPA of 2.5-4.0.
  • Renewable with minimum cumulative yearly GPA of 2.5.

Superior Academic Scholarship
Up to $32,000 over 4 years.

  • First-time freshmen with CLT 76-90/ACT 24-28/SAT 1170-1350 (SAT combination of math/critical reading) and high school GPA of 2.5-4.0
  • Renewable with minimum cumulative yearly GPA of 3.0.

Distinguished Academic Scholarship
Up to $40,000 over 4 years.

  • First-time freshmen with CLT 94+/ACT 29+/SAT 1360+ (SAT combination of math/critical reading) and high school GPA of 2.5-4.0
  • Renewable with minimum cumulative yearly GPA of 3.5.
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

Awarded to students transferring directly from Encounter Revival Ministries, New Tribes or New Brunswick Bible Institute. Students must complete at least one year at 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. $3,500 annual award. Students transferring directly from Word of Life Bible Institute, Berkshire Institute for Christian Studies and Score International GAP Program in Costa Rica are eligible for a $7,000 annual award. Renewable with a 2.3 minimum GPA, and the student must be in good standing with the college.

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.

Heydt Presidential Leadership Scholarship

All returning students who are actively involved in leadership roles, like LeadNow, and have a minimum 2.3 GPA can apply. Recipients receive up to a $4,000 annual tuition award and must participate and serve in at least five different LBC events and meet regularly with the V.P. of Student Services. Recipients are recommended by the V.P. of Student Services to the Scholarship Committee. Students must complete a scholarship application each spring.

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 application, a 2.3 cumulative GPA, and the student must be in good standing with the college.

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.

Presidential Leadership Scholarship

A $1,500 annual tuition scholarship is given to new students who will be enrolled full-time, based on the scholarship application process in March. See admissions for application information. This scholarship is for one year only. Students may apply for the Heydt Presidential Leadership Scholarship each year.

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 (pdf). 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

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, 2019 until June 30, 2020 is fixed at 4.53%.
  • 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, 2019 until June 30, 2020 is fixed at 4.53%. 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, 2012.

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

  1. 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.
  2. 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 selectingSign-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.
  3. 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 1.073% 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
  • 7.08% fixed interest rate on loans disbursed on or after July 1, 2019 until June 30, 2020
  • Required net fees of 4.292% 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 requried 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.

Yellow Ribbon Program

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. To learn more about what military scholarships available at Lancaster Bible College.

Learn more about Military Benefits

A student mowing the lawn at LBC

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 awarded 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.

  1. You complete the Free Application for Federal Student Aid (FAFSA). LBC’s 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 in November 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.
FAFSA Form for financial aid
Accelerated student in class with laptop

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.

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