resources for parents / 3
How We Help with Costs
A high-quality college education is the most important investment you can make in your child’s future. To make it affordable for your family, Lebanon Valley College will be your partner. Our generous, guaranteed academic scholarships—along with need-based grants, loans, and work-study opportunities— mean that 98 percent of our students receive some sort of financial assistance. r e so urces for parents This is the third brochure in a fivepart series intended to help parents learn about the college search, application, and financial aid processes—and get to know a bit about Lebanon Valley.
I Helping Your Child Choose 2 What We Believe 3 How We Help with Costs 4 Our Graduates 5 How Our Students Live 2
If your child is considering LVC, you should know . . .
...h igh-achieving students get guaranteed academic scholarships at LVC
...o ther scholarships support students with special abilities and attributes
...n eed-based aid helps many students pay for college
. . . a variety of alternative financing options are available
. . . t he terminology of the scholarship and financial aid application processes
. . . a few facts about lebanon valley college
m e r i t scholarships
We believe hard work should be rewarded. If your son or daughter has done well in high school, he or she will receive an automatic Presidential Scholarship from LVCâ€”awarded to all students who graduate in the top 30 percent of their class. Your child might also be eligible for one of LVCâ€™s other scholarships, awarded to students with particular skills or backgrounds.
Presidential Scholarships Our Presidential Scholarships are widely known for being generous and straightforward. High school achievement is rewarded with automatic academic scholarships, which are renewable for four years if your child continues to get strong grades at LVC. There’s no paperwork to fill out. The criteria below will enable you to see at a glance how much scholarship money is waiting for your child at LVC.
One-half tuition scholarships are awarded to all entering freshmen ranking in the top 10 percent of their high school graduating class.
One-third tuition scholarships are awarded to all entering freshmen ranking in the top 20 percent of their high school graduating class.
One-quarter tuition scholarships are awarded to all entering freshmen ranking in the top 30 percent of their high school graduating class.
High school students who attend schools that do not rank their students—or who are not in the top 10 percent of their class but have a combined Critical Reading and Math SAT score of 1100 or more—may compete for Presidential Scholarships through an on-campus interview.
Calculating Your Presidential Scholarship You can use LVC’s online calculator to determine which Presidential Scholarship your child might be eligible to receive. To calculate your child’s scholarship, go to www.lvc.edu/calculate. This is not an official determination and does not include other scholarships or need-based aid for which your child may be eligible.
m e r it and other sch o la r sh i p s
Other Lebanon Valley College Scholarships and Awards In addition to the Presidential Scholarships, LVC offers a number of scholarships and awards for outstanding students meeting special criteria. To compete for these awards, further steps such as an interview or audition may be necessary. Information will be provided to potentially eligible students. Mary E. Graham Scholarship in Biology
Two or three renewable awards of $5,000 each are made to outstanding freshman biology majors in the entering class. Edna and Clark Carmean Scholars in Music
Limited renewable awards of $1,500 each are made to music students in each entering class. Multicultural Fellowship
Renewable awards of up to $12,000 per year are made to multicultural students based on their scholarly achievement, commitment to service, and financial need. Recognition Awards
Renewable awards of $500 per year are made to students who have participated in the Hugh O’Brian Youth Seminar or the Pennsylvania Governor’s School Program, or who have been awarded the Girl Scout’s Gold Award or the Boy Scout’s Eagle Scout Award. Only one recognition award may be received. Children of Alumni Awards
Renewable awards of $2,500 per year are made to students who are children of LVC alumni. Transfer Student Awards
Students with 15 or fewer transferable credits are considered for scholarships at LVC on the same basis as high school seniors. (See page 3 for details.) Students with 16 or more transferable credits are
considered for scholarships ranging from one-quarter to one-half tuition based on their college grade point average, number of credits eligible for transfer, strength of academic program, field of study, and other factors. Members of the Phi Theta Kappa honor society who have completed a transfer program or received an associate degree are awarded one-half tuition scholarships. All scholarships awarded to transfer students are renewable for a predetermined number of semesters, based on a minimum grade point average and academic progress. Scholarships are awarded to transfer students pursuing their first bachelor’s degree only. Merit-Based Awards from Other Sources
Students are encouraged to research and apply for “outside scholarships”— awards funded by a wide variety of organizations and agencies. Your high school guidance office is often a good place to learn about these types of awards and their application processes. The Internet is also a great resource for learning about outside scholarships. You can find a list of scholarship search engines and outside awards at www.lvc.edu/ financial-aid. In addition, the Pennsylvania Higher Education Assistance Agency offers information on state-administered scholarships at www.pheaa.org, and the Pennsylvania Association of Student Financial Aid Administrators has scholarship search links at www.pasfaa.org. 5
n e e d - based financi a l a i d
In addition to merit scholarships, assistance based solely on your family’s financial need is available from LVC and other sources. A combination of loans, government and LVC grants, federal work-study support, and financing options help your family meet the costs of a Lebanon Valley College education. Applying for Need-Based Aid
To determine your child’s financial aid eligibility at Lebanon Valley College, you must complete the following form by March 1 of the year he or she is applying to LVC: Free Application for Federal Student Aid (FAFSA)
This government form is required of all families applying for need-based aid. You can complete the FAFSA online at www.fafsa.gov or obtain a paper version by calling 800-433-3243. Students with records selected for verification by the government processor will be required to submit additional documentation.
Completing this process by March 1 will allow the Financial Aid Office to prepare your family’s award package (a complete listing of the types of financial aid your son or daughter is eligible to receive) in the timeliest manner. We start mailing these award letters around the first week of March.
“ T he financial aid staff have been extremely helpful and friendly throughout all of our interactions. They are always happy to answer any of our questions.”
Tammy Abernathy, mother of Paul Abernathy ’14
Determining Your Financial Aid Eligibility
Costs at Lebanon Valley
Based on the information you report on the FAFSA, the federal government will determine your familyâ€™s Expected Family Contribution (EFC), or the amount your family is expected to pay toward your educational costs. If your EFC is lower than the costs at Lebanon Valley College, you may be eligible to receive need-based financial aid. If your EFC exceeds the costs, you may still be eligible to receive assistance through a variety of non-needbased programs, including scholarships.
Tuition, fees, room, and board charges are determined annually, usually by February, for the following academic year. The charges for the 2012-2013 academic year are:
Federal, state, and institutional grants and scholarships may be received for a maximum of eight semesters or until successful completion of the first bachelorâ€™s degree. Students must maintain satisfactory academic progress to remain eligible. For full-time students, this means earning a minimum of 24 new credits each academic year. Progress requirements for part-time students vary. For more information, please access the full policy online at www.lvc.edu/financial-aid. Net Price Calculator (NPC)
This is an online tool that will allow you to receive an estimate of your costs to attend LVC after scholarships, grants, loans, and work-study are deducted. You may access the NPC at www.lvc.edu/financial-aid/ npc-info.aspx. Please keep in mind that costs and financial aid used in determining your net price will be estimated. Using the NPC does not replace filing the FAFSA.
Tuition and Fees
Room and Board
Fall semester bills (one-half of the charges above) are due the beginning of August. Spring semester bills (the other half) are due the beginning of January.
LVC also offers an optional payment plan that allows families to pay their out-of-pocket expenses in 10 monthly installments rather than in two larger semester payments. Participants pay an annual sign-up fee of approximately $45. Students should anticipate other expenses for books, transportation, and personal and miscellaneous education-related items. Those expenses are estimated to be approximately $3,400 for resident students and $7,100 for commuting students (includes living expenses). These expenses are included in the cost of attendance when determining financial aid eligibility.
n e e d - based financi a l a i d
Grants Grants are funds awarded to your son or daughter based on your family’s demonstrated financial need. Unlike loans, they do not have to be repaid. Completion of the application process described on page 6 will place your child under consideration for each of the following. Lebanon Valley College Grant
Federal Pell Grant
Based on an institutional formula, the College awards grant money to students demonstrating financial need. LVC grant awards vary in amount depending on the extent of your family’s need and the Presidential Scholarship awarded.
The Pell program provides grants from the federal government to students with the greatest need. The maximum award in 2011-2012 was $5,550. Students with an Expected Family Contribution (EFC) less than $4,995 may receive a Pell Grant.
Pennsylvania State Grant
Federal Supplemental Educational Opportunity Grant (SEOG)
State grants are available to Pennsylvania residents who file their Free Application for Federal Student Aid (FAFSA) before May 1 and demonstrate eligibility as determined by the Pennsylvania Higher Education Assistance Agency (PHEAA). The FAFSA serves as the initial application for this award; however, students must remember to respond promptly to PHEAA’s requests for additional information. The maximum award for new students in 2011-2012 was $4,348. Other State Grants
Students who are not Pennsylvania residents should contact their guidance counselors for details on grant eligibility and application procedures in their home state.
The SEOG program provides grants from the federal government to students with the greatest need. LVC selects the recipients of these awards, with preference given to Pell Grant–eligible students. Teacher Education Assistance for College and Higher Education (TEACH) Grant
The TEACH Grant Program provides grants of up to $4,000 per year to students who agree to serve as full-time teachers in high-need fields, at public or private elementary or secondary schools that serve low-income students. More information can be found online at www.studentaid.ed.gov.
Loans Loans are borrowed money that must be repaid, typically after graduation, on an extended schedule. There are various types of loans with differing policies on interest and repayment. Federal Direct Stafford Loan
All students who complete the application process, regardless of family financial circumstance, may obtain a Direct Stafford Loan. The loan may be subsidized or unsubsidized, depending on financial need (as described on page 7). Subsidized Direct Stafford Loans are awarded to students with financial need that has not been met with other sources of aid. Repayment of principal and interest is deferred until six months after the student graduates or ceases at least half-time enrollment (six credits per semester). Unsubsidized Direct Stafford Loans are awarded to students who demonstrate no financial need or whose financial need has been met with other sources of aid. Repayment of principal is deferred as it is for a subsidized loan; however, interest will be assessed while the student is enrolled.
“B eyond the merit-based financial support, the College has been proactive in matching funding to need in a responsible manner with full consideration of the economic challenges facing most parents, families, and students.”
Maximum borrowing eligibility is tied to the student’s year in college, as outlined below: Freshman
In addition to the amounts listed above, all undergraduate students may borrow an unsubsidized Direct Stafford Loan in the amount of $2,000 per year. Graduate students may borrow $20,500 per year in an unsubsidized Direct Stafford Loan. For 2012-2013, the subsidized and unsubsidized Direct Stafford Loan interest rate is fixed at 6.8 percent (pending federal legislation). Federal Perkins Loan
Lebanon Valley College selects the recipients of these federal loans, with preference given to incoming students with higher need. This loan has a fixed interest rate of 5 percent, and repayment of principal and interest is deferred until nine months after the student graduates or ceases at least half-time enrollment (six credits per semester).
Cynthia M. Lincoln, mother of Gabriel Lincoln-De Cusatis ’12
Federal Work Study and Institutional Employment
Other LVC-Administered Programs
These work awards give students the opportunity to earn money through on-campus jobs. Eligible students may also pursue offcampus community service appointments. Work awards are not directly credited to the studentâ€™s account. Rather, monthly paychecks are issued for hours worked, with pay rates varying by position. Job openings are posted on the LVC job board, which may be accessed at www.lvc.edu/ financial-aid.
United Methodist Scholarship
Students who are active members of a United Methodist church may apply for scholarships funded by the conference. Both financial need and church involvement are considered in selecting recipients. Contact the Financial Aid Office for additional information and application materials. Lutz Scholarship
Students who are residents of Pennsylvaniaâ€™s Cocalico School District and who demonstrate financial need may be eligible to receive assistance through this award. Contact the Financial Aid Office or the Cocalico High School Guidance Office for the application and additional information.
a lt e rnative finan c i n g o pt i o n s
Alternative Financing Options Your child’s financial award package will provide a clear picture of the total costs of an LVC education, your family’s total financial aid eligibility, and the remaining out-of-pocket expenses. If additional resources are necessary to help in covering that balance, your family may choose to utilize one or more of the following financing options. Federal Direct PLUS Loan
Parents may borrow up to the cost of attendance minus the total student financial aid; in other words, the entire out-of-pocket expense or any part of it. Repayment of principal and interest begins 60 days after the second disbursement of the loan and may continue for up to 10 years depending on the amount of the loan. A deferment option is also available while the student is enrolled each year up to four years or until graduation. While a loan is in deferment, interest will continue to accrue, but the principal is deferred. The interest rate is fixed at 7.9 percent with a 4.0 percent upfront origination fee.
Students who wish to borrow additional funds in their own name may seek a private education loan from a lending institution. Lebanon Valley College will provide your family with information about these types of programs and a list of preferred lenders with the financial award package. Most alternative loans require a creditworthy co-signer.
LVC will provide your family with information about the Direct PLUS Loan with the financial aid award package.
Federal Tax Incentives for Higher Education Expenses
There are federal tax incentives for higher education expenses. For more information regarding eligibility and reporting requirements for these programs, please refer to IRS Publication 970 or contact a tax professional.
“E mily received the Vickroy Scholarship, which pays 50 percent of her tuition and was instrumental in her decision to attend LVC. The financial aid staff have been fantastic to work with.”
Vince and Michelle McHenry, parents of Emily McHenry ’14
t h e t erminology
Your child’s LVC financial aid package will be based, in part, on your family’s demonstrated need. All students applying for need-based aid from LVC must submit the FAFSA by March 1. Go to www.pheaa.org for more information. Go to www.pasfaa. org for more information.
LVC’s financial aid office uses the EFC to determine the amount of financial aid your family will receive. LVC awards automatic merit scholarships to students graduating in the top 30 percent of their high school class. LVC students may be eligible for need-based aid in the form of grants, loans, and federal work study.
Financial Aid Resources • www.finaid.org—the most comprehensive source of student financial aid information, advice, and tools • www.fafsa.ed.gov—ensures that all eligible individuals can benefit from federally funded financial assistance • www.fastaid.com—world’s largest and oldest scholarship database • Public Libraries—scholarship databases and financial aid resources • Guidance Counseling Office—one of your most important resources in finding scholarships and applying for aid 12
• DEMONSTRATED NEED: the amount of outside financial support a family needs in order to pay for a given college, as determined by the federal needs analysis. • EXPECTED FAMILY CONTRIBUTION (EFC): the amount a family is expected to contribute toward a college education, as determined by the federal needs analysis. This is not necessarily the amount you will pay. • FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA): the need analysis form produced by the U.S. Department of Education that is required for students seeking financial aid from almost all colleges and universities. • MERIT AID: financial support for college awarded on the basis of academic achievement, usually in the form of scholarships. • NEED-BASED AID: financial assistance that is awarded on the basis of demonstrated financial need rather than on the basis of merit, academic or otherwise. • PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY (PHEAA): state agency offering information on state-administered scholarships and grants. • PENNSYLVANIA ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS (PASFAA):
state association offering information on financial aid and funding opportunities for higher education.
LEBANON VALLEY COLLEGE FACTS Hartford
Lebanon Valley College is a private, coeducational college founded in 1866 and dedicated to the liberal arts. CAMPUS/LOCATION
57 buildings on more than 340 acres in Annville, Pennsylvania, a town of 5,000 near the Pennsylvania Dutch countryside. STUDENTS
1,630 full-time undergraduates. The ratio of women to men is 55:45. FRESHMAN CLASS PROFILE
468 students, primarily from Pennsylvania and the midAtlantic region. 77 percent were in the top 30 percent of their high school class, and the average SAT score is 1088. FACULTY
102 full-time faculty members, 89 percent of whom hold Ph.D.s or terminal degrees in their field; student-faculty ratio of 13:1 and average class size of 20. ACADEMIC PROGRAMS
34 undergraduate majors plus self-designed majors and a range of minors, concentrations, and preprofessional options; graduate degree programs in physical therapy, business administration, music education, and science education. STUDY ABROAD
Programs in 11 countries, including Argentina, Australia, England, France, Germany, Greece, Italy, the Netherlands, New Zealand, Ireland, and Spain,
as well as several shortterm programs. OFF-CAMPUS PROGRAMS
Semesters in Philadelphia and Washington, D.C. CAREER SERVICES
A full range of guidance and support, including Career Connections, an online network of hundreds of LVC alumni. INTERNSHIPS
Available in every majorâ€” in Annville, Hershey, Harrisburg, and beyond. STUDENT LIFE
More than 90 student organizations focused on the arts, sports, media, service, culture, politics, pre-professional interests, faith, and Greek life. ATHLETICS
A member of the National Collegiate Athletic Association (NCAA), Eastern College Athletic Conference (ECAC), American Collegiate Hockey Association (ACHA), and Middle Atlantic Conference (MAC), LVC offers 24 sports. RESIDENCE LIFE
27 residence halls of various styles; housing guaranteed all four undergraduate years. AFTER LVC
In an average year, approximately 76 percent of graduates responding to our annual survey are employed, and approximately 30 percent are in graduate or professional school, within six months of graduation.
New York City (150 mi.)
Lebanon Valley College Harrisburg (28 mi.)
Philadelphia (89 mi.)
Washington, D.C. (150 mi.)
Rolling admission. We encourage completed applications by March 1 for fall admission and December 1 for spring admission. FINANCIAL AID AND SCHOLARSHIPS
Approximately 98 percent of students receive some form of financial assistance. LVC scholarships are guaranteed to all students in the top 30 percent of their high school class; additionally, generous need-based financial aid is available. Total financial aid awarded in the form of LVC grants and academic scholarships for 2011-2012 was $24,052,581. The average grant and scholarship package totaled $14,455. COSTS 2012-2013
Tuition and Fees: $34,470 Room and Board: $9,180 Total Expenses: $43,650 CONTACT LVC
101 North College Avenue Annville, Pennsylvania 17003-1400 1-866-582-4236 firstname.lastname@example.org
NCSDO L12099 6.12
1-866-LVC-4ADM (1-866-582-4236) | email@example.com www.lvc.edu
101 North College Avenue Annville, Pennsylvania 17003-1400
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You can make college more affordable. We’ll show you how.