1	Financial Aid Basics
2	Lock Haven University Office of Student Financial Services 118 Russell Hall Lock Haven PA 17745 Phone: 570-484-2344 Email address: sfs@lhup.edu URL: www.lhup.edu/financial-services
3	Definition The Office of Student Financial Services provides information and assistance for potential and current students regarding school charges, payments, and financial aid for those who qualify. Combines: Financial Aid & Bursar
4	How Do I Pay For College?
5	How Do I Apply?
6	General Eligibility Requirements
7	General Eligibility Requirements (cont’d)
8	Satisfactory Academic Progress (SAP) Undergraduate Requirements Federal -Earn at least 21 new credit hours every two semesters -Maintain a GPA of 2.000 or greater PA State Grant -Earn at least 24 new credit hours every two semesters Know and Meet all Requirements www.lhup.edu/financial-services/progress.htm
9	You Are Dependent Unless…
10	You Are Dependent Unless…Cont’d at any time since you turned age 13, both your parents were deceased, you were in foster care OR you were a dependent or ward of the court you are or were an emancipated minor as determined by a court in your state of legal residence you are or were in legal guardianship as determined by a court in your state of legal residence at any time on or after July 1, 2009, your high school or school district homeless liaison determined that you were an unaccompanied youth who was homeless at any time on or after July 1, 2009, the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determined that you were an unaccompanied youth who was homeless at any time on or after July 1, 2009, the director of a runaway or homeless youth basic center or transitional living program determined that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless. will be age 24 by December 31 of award year
11	What Information Is Needed To Complete the FAFSA?
12	What Is The Student Aid Report (SAR)? Receive SAR by email/mail within a few days/weeks of submitting the FAFSA Contains a summary of FAFSA information Review for accuracy and make any necessary corrections Keep for future reference
13	How Does LHU Figure My Need? Cost of Attendance - Expected Family Contribution (EFC) = Financial Need
14	What Is Included In The Cost of Attendance (COA)? Tuition and fees Books and supplies Room and board Transportation Miscellaneous personal expenses
15	What Does It Cost To Attend Lock Haven University?
16	How Is My Expected Family Contribution (EFC) Determined? The EFC calculation factors in: parent’s taxable and untaxed income your taxable and untaxed income in some cases, certain assets parent’s age and need for retirement income household size number of family members attending college
17	Special Circumstances
18	LHU Prepares Your Financial Aid Package
19	SCHOLARSHIPS
20	Internet Scholarship Resources
21	GRANTS
22	Federal Pell Grant
23	Federal ACG Grant Need-based federal grant awarded by LHU Must be enrolled at least Half-Time and Pell Grant eligible Must be a 1^st or 2^nd year student Must have completed a rigorous secondary school program of study Must meet all other eligibility requirements
24	SMART Grant Need-based federal grant awarded by LHU Must be enrolled at least Half-Time and Pell Grant eligible Must be a 3^rd or 4^th year student Must be pursuing specific science and math majors Must maintain a 3.0 GPA Must meet all other eligibility requirements
25	Federal Supplemental Educational Opportunity Grant (FSEOG)
26	PA State Grant
27	EMPLOYMENT
28	Federal Work Study
29	Other Employment Options
30	LOANS
31	Federal Perkins Loan
32	Federal Direct Stafford Loan
33	Federal Stafford Loan Annual Loan Limits
34	Federal Stafford Loan Subsidized vs. Unsubsidized
35	Federal Direct Parent PLUS Loan
36	Alternative Loans
37	Remember... Explore all resources Ask each school about its process Apply early – but after January 1 Apply every year Complete forms accurately do it online Know and meet deadlines!! Keep copies of all completed applications
38	Who Can Help?