2008-2009

Lock Haven University of PA

Office of Student Financial Services

Financial Planner

__________________________________________________________________________

Table of Contents
__________________________________________________________________________

Letter From The Director of Student Financial Services

Understanding Financial Aid Awards                                                                        

Important Information                                                                                             

Attention Student and Parent Loan Borrowers                                                                             

Federal Stafford Loans

Stafford Loan Application Process

Federal Parent PLUS Loans

Alternative Loans            

How Registration Affects Financial Aid                                                                 

Determining Award Eligibility                                                                          

Cost and Payment Information                                                                         

Instructions for Payment of Fees                                                                                  

     (Bill Due Date; Payment Plans ;Payment of Financial Aid)                                                                                

Standards/Policies                                                                                                       

Important Contact Information
           

__________________________________________________________________________
                   

Letter from the Director

 __________________________________________________________________________
Lock Haven University of PA • Student Financial Services Office • Russell Hall 118 • Lock Haven, PA 17745 • Phone: (570) 484-2344

Dear Student,

Congratulations on your decision to attend Lock Haven University! I am pleased to share this information with you.  I urge you to review all the information thoroughly.

Within this document, you will find the following pieces of information:

• Information about various financial aid awards.
• Information regarding the Federal Stafford Loan program, including the Stafford Loan lenders we recommend.
• Information regarding the Federal Parent PLUS Loan program, including the PLUS lenders we recommend.
• Information regarding alternative loan programs, including the alternative loan lenders we recommend.
• Information regarding billing, including invoice due dates, refund calculation table, and payment plan information.
• Information regarding satisfactory academic progress and its affect on your financial aid in future academic years.

Please review your financial aid awards carefully. In some cases, the financial aid awards will not be finalized until additional forms are completed or funds are received by Lock Haven University.

If you have additional questions regarding financial aid or student account matters, please contact the Student Financial Services (SFS) Office at (570) 484-2344.  Our highly trained SFS customer service representatives are eager to assist you.

Once again, I would like to welcome you to Lock Haven University. My staff and I look forward to working with you to make your college education a reality!

Sincerely,

Dr. James L. Theeuwes
Director of Student Financial Services

________________________________________________________________________

Understanding Financial Aid Awards
________________________________________________________________________
 

Federal Pell Grant – Awarded on financial eligibility determined by your completed FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). To receive payment, a student must be enrolled and maintain Satisfactory Academic Progress as defined by the University. The grant may be renewed on a yearly basis and is considered estimated until the student establishes eligibility through enrollment.

Academic Competitiveness Grant (ACG) – To be eligible for the 2008-2009 academic year, a student must be a U. S. citizen; be a Federal Pell Grant recipient; be enrolled full-time in a degree program; be enrolled in the first or second academic year of his or her program of study; have completed a rigorous secondary school program of study (after January 1, 2008, if a first-year student, and after January 1, 2007 if a second-year student); if a first-year student, not have been previously enrolled in an undergraduate program; and if a second-year student, have at least a cumulative 3.0 grade point average on a 4.0 scale for the first academic year.

National Science & Mathematics Access to Retain Talent (SMART) – To be eligible for each academic year, a student must be a U. S. citizen; be a Federal Pell Grant recipient; be enrolled full-time; and be in the third or fourth year of his/her degree program; be enrolled in a four-year degree-granting institution; have a major area of study in physical, life, or computer science, engineering, mathematics, technology, or a critical foreign language; and have at least a cumulative 3.0 grade point average on a 4.0 scale in the coursework required for the student’s major.

Teacher Education Assistance for College and Higher Education (TEACH) Grant – is a  new grant for 2008-2009 for current and prospective teachers.  Eligible students may receive up to $4,000 per academic year.  Aggregate amounts are $16,000 for students on their first undergraduate or post-baccalaureate program and $8,000 for graduate students.  Eligible students must complete the FAFSA, be currently completing coursework necessary to begin a career in teaching, or plan on completing coursework necessary to begin a career in teaching.  Academic requirements include having at least a 3.25 GPA and a score above the 75th percentile on an admissions test, such as the SAT or ACT.  The TEACH Grant also requires an “agreement to serve/promise to pay”.  Students must sign an understanding of terms to certify that they understand the terms of the grant and the terms of their teaching service requirements.  The student must teach full-time for at least four years within eight years of completing their program as a highly qualified teacher at a Title I school in a specified subject area (mathematics, science, a foreign language, bilingual education, special education, as a reading specialist, and other “high-need" fields).  If service is not met, the grant must be repaid as an unsubsidized Direct Stafford Loan, with interest from the date(s) of original disbursement.  Please Note:  The 2008-2009 FAFSA includes a new question asking students if they plan to become teachers. Interested students should carefully review the eligibility requirements of this grant and consider how likely they are to meet them. Although TEACH Grants will be available to students for 2008-2009, the U.S. Department of Education has not yet issued the final regulations that will govern this program.  Once those regulations are available, LHU will automatically provide additional information about this grant to eligible students.  For more information about the TEACH Grant, please visit www.studentaid.ed.gov.

Pennsylvania State Grant – Awarded to the residents of the Commonwealth of Pennsylvania by the Pennsylvania Higher Education Assistance Agency (PHEAA). If an estimated state grant appears on your Award Letter, the estimated amount is based on current information available to the University. The actual amount of the state grant is determined when the student and the University receive official notification from the state agency. Please Note: Students who are recipients of the Pennsylvania State Grant and have been selected for Validation will not receive funds until the necessary paperwork is completed with the Pennsylvania Higher Education Assistance Agency.

State Grants – From states other than Pennsylvania include grants from CT, DE, MA, ME, OH, RI, VT, WV, and the District of Columbia.  Students must contact the appropriate state grant agency for further information.

Federal Supplemental Educational Opportunity Grant (SEOG) – Provided by the federal government for distribution by Lock Haven University. The Student Financial Services Office automatically considers every Pell-eligible student for SEOG and will award it to those with the greatest demonstrated financial need. The grant does not need to be repaid and may be renewed on the basis of continued eligibility (with certain exceptions). To receive payment, a student must maintain Satisfactory Academic Progress as defined by the University.

Federal Work Study (FWS) – A program that allows students to partially meet educational expenses through employment on campus. The money is available on the basis of actual hours worked, and earnings are not guaranteed. Wages are generally paid at the prevailing minimum wage rate and are paid directly to the student via a bi-weekly paycheck as they are earned.  The earnings will not be deducted from the student’s bill. Students are responsible for finding their own jobs. For additional information about student employment procedures and current job postings, please click here.  The FWS award represents the maximum amount of wages the student is permitted to earn during the academic year. Work is limited to a maximum of 20 hours per week when school is in session and 37 ½ hours per week at other times. Continued employment through FWS is contingent upon the student’s maintaining Satisfactory Academic Progress as defined by the University.

Federal Perkins Loan – A long-term, low interest (5%) student loan. The Student Financial Services Office automatically considers every eligible student for the Federal Perkins Loan and will award it to those with demonstrated financial need. Repayment of the loan is required and begins nine (9) months after graduation or a student drops below half-time enrollment. If a Federal Perkins Loan is part of the financial aid award, completion of an entrance interview and Master Promissory Note (MPN) is required.  Students who have Perkins Loan awards will receive information from Student Financial Services under separate cover when it is time to complete those items.

Federal Stafford Loan – A long-term, low interest student loan. The amount of this loan, in combination with other financial aid, cannot exceed the cost of attendance as determined by the University. Other aid received after the loan application is processed may result in a reduction of the loan eligibility, and a requirement that a portion of the loan be repaid immediately. Dependent students can borrow no more than $3,500 at the freshmen level, $4,500 at the sophomore level, and $5,500 at subsequent levels. The aggregate total of loans as a dependent, undergraduate may not exceed $23,000. Repayment of the loan is required and begins six (6) months after graduation or a student

drops below half-time enrollment. Students must also meet the Satisfactory Academic Progress requirements as defined by the University. Please Note: Students who plan to borrow a Federal Stafford Loan must complete an entrance interview and Master Promissory Note. Detailed information regarding this and other important Federal Stafford Loan facts will be explained later.

Federal Parent PLUS Loan – A loan available to parents of dependent, undergraduate students. The maximum amount that may be borrowed for a given loan term is limited to the cost of attendance minus any other financial aid. Although no income verification is required, the borrowing parent’s credit history is evaluated.

Federal Grad PLUS Loan – A loan available to graduate and professional students. The maximum amount that may be borrowed for a given loan term is limited to the cost of attendance minus any other financial aid. Although no income verification is required, the student’s credit history is evaluated.

Alternative Loans – Private, non-federal student loans. Student borrowers are typically required to apply along with a creditworthy co-signer. Interest rates and terms of these loans vary depending on the loan program the student wishes to utilize. More information regarding alternative loan programs will be explained later.

__________________________________________________________________________
 

Important Information

__________________________________________________________________________
 

Financial Aid Definition of an Academic Year:  For financial aid purposes, at Lock Haven University an academic year is defined as one in which a student completes a minimum of 30 weeks of instruction and in which an undergraduate student completes 24 semester hours.  At Lock Haven University an academic year consists of two 15-week (fall and spring) semesters.  Summer is a trailer to the academic year and consists of three terms:  Summer Session 1; Summer Session 2; and Summer Extended.

Revisions – The financial aid award made by this letter is valid to the extent that the information upon which it is based is accurate at the time of the award and remains accurate throughout the award period. Any change in student circumstances, as noted below, will void this Award Letter and require that a revision be made. Revisions may also be necessary due to changes in funds made available to the University by governmental or other sources or due to any other circumstances, including errors in the award itself, in order to prevent overawards and to maintain the integrity of the financial aid programs according to governing laws and regulations. Lock Haven University does not guarantee substitution of funds for any portion of the award which is declined by the student or reduced by government agencies. Students who withdraw and return to the University at a later date will be re-evaluated for financial aid eligibility.

Overawards - Federal and state regulations require SFS to consider all sources of financial assistance when awarding aid. Those sources include things like scholarships (LHU or private), athletic grants, tuition waivers, VA educational benefits, and alternative loans. If your Financial Aid Award Letter did not include all of the assistance you are receiving, chances are SFS was not aware of all your awards when your financial aid was packaged.  The addition of other aid sources may cause an overaward, which means that SFS may have to reduce one or more of your awards. For example, if SFS awarded you your maximum eligibility of $15,800 in financial aid, and then you receive a $2000 scholarship, SFS may be required to reduce the aid awarded by $2,000 to keep you within the $15,800 limit. You can help prevent an overaward by informing SFS of all sources of financial assistance as soon as you know about them.

The Financial Aid Award Shall be Void if a Student:

• defaults on his/her Federal Perkins, Stafford, or National Direct Student Loan

• owes a repayment on any Title IV federal student aid funds received previously

• does not report changes to Student Financial Services (as listed below)

• does not make Satisfactory Academic Progress

• puts incorrect information on the FAFSA and/or

• intentionally makes false statements or misrepresents information on any financial aid application materials. Students who do so may be subject to fines or imprisonment, or both, under provisions of the U. S. Criminal Code

Payment of Financial Aid – Financial aid awards (except Work Study) will be credited to the student’s account each semester. The student will receive a refund of the amount if the total aid credited exceeds the charges. Funds are usually disbursed during the first few weeks of each semester. Payment of financial aid funds will not be made until all eligibility requirements have been met.  Please Note: Students should plan to have cash available to meet personal expenses (including books) at the beginning of each semester.

Part-Time Enrollment – Students who enroll for less than 12 credits in a semester may have their financial aid adjusted. Such students may still be eligible for all or partial payment from certain programs. A student considering less than full-time enrollment should discuss the affect on his/her financial aid with the Student Financial Services staff.

Federal Verification – A number of FAFSA applications are selected for a process called Federal Verification. This process is used to determine that the information provided on the FAFSA is accurate. Students who are selected will be notified and certain additional information will be requested. No aid payments will be made nor will loans be processed until the Verification process is completed. If the required information or other steps in the Verification process are not completed according to the establishment schedule, all federal financial aid for the academic year will be canceled.

Changes in Student Circumstances – The student agrees to notify the Student Financial Services Office of any changes in financial or other circumstances which could affect financial aid eligibility. This includes, but is not limited to, changes in:

• a student’s academic and/or enrollment status

• housing status

• receipt of an outside scholarship or other awards

• the number of family members attending a university in 2008-2009

Satisfactory Academic Progress – In order to receive financial aid, a student must meet the following progress requirements: earn 21 new credits in each two semesters of full-time attendance; maintain a grade point average consistent with the requirements of the “Probation and Retention Standards” published in the University catalog; have a minimum accumulated grade point average of 2.00 after two years of enrollment; and complete his educational program within a maximum timeframe not to exceed 150% of the length of the program. This includes all semesters of enrollment even if no financial aid was received. More information about the Satisfactory Academic Progress policy will be explained later. Please Note: Students are responsible for knowing and meeting these requirements. The complete Satisfactory Academic Progress Policy can be viewed online at www.lhup.edu/financial-services.

Tax Credits for Education – Tax credits may be available for families who are seeking additional university financing options. These include the Hope Tax Credit and Lifetime Learning Tax Credit. Families may benefit from one of these programs depending on financial circumstances. For more information about educational tax credits, please contact a tax advisor or consult the web at www.irs.gov.

Taxable Income – Under certain conditions, portions of grants and scholarships must be reported as taxable income. Consult a tax advisor or the IRS to determine specific requirements. The University cannot give tax advice.

__________________________________________________________________________
 

Attention Student and Parent Loan Borrowers!

__________________________________________________________________________
 

Apply Early

The Student Financial Services Office will process your loan and other financial aid applications as quickly as possible.  These processes, from the time of application to the disbursement of those funds, normally take at least 14 to 21 business days.  During peak processing periods, they may take longer.  Here are some things you can do to help.

1.  Apply early to allow sufficient time for the processing of your application.  Even with today's technology, the fact is that the processing of most financial aid and loan applications takes time.  Apply for parent PLUS and/or Alternative Loans at least 4 to 6 weeks before those funds are needed to pay educational expenses.

2.  Respond in a timely manner to any requests for additional information (i.e. proof of income, etc.) that you receive from SFS and/or your lender.

3.  Be patient.  It takes time for our staff to process the large volume of applications received.  Periodically checking on the status of your application is a good idea.  You may call us at 570-484-2344, email us at sfs@lhup.edu, or stop by the office, 123 Russell Hall, to inquire during office hours. 

Lock Haven University’s Recommended Lenders

Borrowers are free to choose any participating lender when borrowing through the Federal Stafford Loan program.  We encourage you to compare lenders and choose those whose repayment terms, services, and borrower benefits best meet your needs.

In order to assist families who would like help with selecting a lender, the LHU Student Financial Services Office has developed a list of recommended lenders for various loan programs.  The lenders on these lists have been chosen based on a variety of factors including exceptional financial benefits for borrowers, quality customer service, and excellent, electronic loan processes.  Each lender listed below has been chosen with our students' best interest in mind.  Once again, borrowers may choose any lender, including lenders not listed below.
_________________________________________________________________________

                                           Federal Stafford Loans _________________________________________________________________________

 

To utilize the Stafford Loan, each student must complete a Master Promissory Note (MPN). This can be done online at www.aessuccess.org. Students must also complete the online Stafford Student Loan Entrance Counseling session at www.aessuccess.org.  AES/PHEAA will notify the student when it's time to complete both of these requirements.

While completing the MPN, students are required to select a lender for their student loan. Below are the lenders which comprise Lock Haven’s recommended lender list. While you are not required to use one of the lenders below, there are several advantages to doing so. First, as of January 2008 and until further notice, each of these lenders has indicated that it will not charge students an origination fee on the Stafford Loans they borrow.  This represents a 1.5% savings and means that most or all of the loan amount borrowed can be used to pay educational expenses.  Second, each of these lenders also participates in electronic processing which greatly reduces the time it takes to obtain a Stafford Loan. Third, these lenders also utilize Electronic Funds Transfer, which means students will not be required to stop by our office each term to endorse student loan checks.

Students who choose a lender that does not use AES/PHEAA as a loan guarantor must submit their  MPNs to the SFS Office for manual school certification, which may result in processing delays.  It may also mean that loan monies will be disbursed via a paper check, not electronically. Manual check processing may delay the payment of a student's bill, the delivery of a student refund, etc..

If you have any student loan questions, please feel free to contact Student Financial Services at (570) 484-2344 or review our Frequently Asked Questions at www.lhup.edu/financial-services/financial-aid.

  __________________________________________________________________________
 

Stafford Loan Application Process
__________________________________________________________________________
 

Please Follow These Steps to Apply for a Federal Stafford Loan

Step 1:  File the electronic version of the 2008-2009 FAFSA at www.fafsa.ed.gov and enter “2” or “3” for question 26.

Step 2:  The pre-certification step is the most important step in the loan process. During this step the Student Financial Services Office will notify the student via AES/PHEAA of his/her maximum Federal Stafford Loan eligibility and type of Stafford Loan (subsidized and/or unsubsidized) based on the student’s financial need and grade level.  Pre-certification of loans typically begins each year in June.

Step 3:  The Student Financial Services Office will transmit each student’s Federal Stafford Loan information to AES/PHEAA. If a student has never completed a Federal Stafford Master Promissory Note, he/she will receive instructions from AES/PHEAA for completing an online Federal Stafford Loan MPN. Complete the MPN electronically by logging onto AES/PHEAA’s Web page (www.aessuccess.org). With the U.S. Department of Education Personal Identification Number (PIN), sign the MPN electronically. Request a U. S. Department of Education PIN by visiting www.pin.ed.gov.

Please Note: The MPN only needs to be completed once every 10 years.

Step 4:  All first-time Stafford Loan borrowers must complete a loan counseling session before any Stafford Loan funds can be disbursed to the student. This loan counseling session must be completed online by logging onto AES/PHEAA’s web page at www.aessuccess.org and is often incorporated into the online MPN process described in Step 3 above.

After a student completes an electronic MPN, AES/PHEAA will send him/her an “Approval Notice.” This notice will indicate the amount of the loan(s), the interest rate and the disbursement dates of the loan(s). Students not interested in a Federal Stafford Loan, do not need to complete a MPN. Students will have an additional opportunity at this point to cancel or reduce their Stafford Loan by contacting the Student Financial Services Office.

AES/PHEAA will authorize the disbursement of loan funds (Electronic Funds Transfer [EFT] or check) at the appropriate time to Lock Haven University.

__________________________________________________________________________
 

Federal Parent PLUS Loans
__________________________________________________________________________
 

Federal Parent PLUS Loan
To assist you in paying the costs of college, you may want to consider a Federal PLUS Loan. This is a government-sponsored loan for the parents of dependent, undergraduate students. This loan is often used to help borrowers with the family’s expected contribution. Borrowers of all income levels are eligible; however, a credit check is required.

Borrowing Limits
Parents may borrow up to the total Cost of Attendance, minus other aid received, through the PLUS Loan program.

Interest Rate
Interest Rate: The current rate is fixed at 8.5%, but is subject to change based on legislative action.  Some lenders discount the rate for borrowers who authorize Direct Debit (i.e. ACH) as their payment method.   

Fees
All PLUS loans are subject to an origination fee of up to 3% and a federal default (i.e. guarantee) fee of up to 1%. Fees are deducted from the loan proceeds at the time funds are disbursed.  Parents should take these fees into account when determining the loan amount they would like to borrow.

Disbursement
PLUS loans are sent directly to the school. Disbursements are normally made at the beginning of each term. If the student does not maintain at least half-time enrollment during the specified loan period, you may be required to pay all or part of the loan immediately.

Repayment
Repayment of your PLUS Loan begins no later than 60 days after your loan has been fully disbursed. Most people borrow
for two terms and repayment begins after the final disbursement. The maximum repayment period is 10 years. The minimum monthly payment on principal and interest is $50. There is no penalty for early repayment.

Forbearance
Various repayment options including forbearance of interest or interest/principal are available.

Credit Check
A credit check is required for the PLUS Loan.

Note
If a parent borrower is denied a PLUS Loan, the dependent student may be eligible for additional unsubsidized Federal Stafford Loan money.

How To Apply As A First-Time Parent Borrower

Go to www.aessuccess.org.  Under Student Loans, click on "Parent PLUS Loans," then click on "Apply Now."  Next, follow the online instructions to get information and to apply.

The PLUS Loan Master Promissory Note (MPN) is available to complete online after May 1, 2008.  The MPN will be valid for the entire length of the student's enrollment at Lock Haven University, provided you borrower through the same lender during that time.

While completing the online MPN via the aessuccess.org web site, PLUS Loan borrowers will be required to select a lender for their loan.  Below are five lenders which comprise Lock Haven's recommended lender list.  While you are not required to use one of the lenders below, there are several advantages to doing so.  First, these lenders offer a variety of borrower benefits such as rebates of loan principal to qualified, on-time payers and interest rate reductions for borrowers who authorize Direct Debit as their payment method.  Second, these lenders participate in electronic processing, which greatly reduces the time it takes to obtain a PLUS Loan.  Third, these lenders utilize Electronic Funds Transfer, which means a borrower is not required to endorse loan checks before the loan funds can be applied to the student's account. 

If the lender your parent chooses participates in the pre-approval process, an instant credit check will be performed.  Once the PLUS application is pre-approved, your parent will be able to complete the PLUS MPN online immediately thereafter.  If the lender your parent chooses does not participate in the pre-approval process, the PLUS MPN can be completed online and a credit check will be performed later.

If the loan is denied, your parent may want to reconsider using an endorser.  For more information on using an endorser for a PLUS Loan, or to speak with an AES credit counselor, please call AES/PHEAA at 1-800-692-7392.  Students whose parents are denied a PLUS Loan may request an additional $4,000 unsubsidized Stafford Loan per year during their freshman or sophomore years and a $5,000 unsubsidized Stafford Loan per year as a junior or senior.  A copy of the PLUS denial must be provided to the Student Financial Services Office in order to process the additional unsubsidized request.

Complete and submit the PLUS MPN.  Parents may choose one of the following three options for signature:

Option 1:  Sign electronically by using his/her Federal PIN number.  If you parent does not have a PIN, he/she may apply for one at www.pin.ed.gov.

Option 2:  Print a copy of the PLUS MPN, ign and send it to AES, PO Box 8177, Harrisburg, PA 17105

Option 3:  The parent may have the MPN mailed to him/her.  If a parent chooses this option, he/she will be required to sign the PLUS MPN when he/she receives it and then return it to AES at the address noted above.

  __________________________________________________________________________
 

Alternative Loans
__________________________________________________________________________
 

What Is An Alternative Loan?

An alternative loan is a low-interest private loan available to a creditworthy student and/or co-signer. Alternative loan

programs are offered by banks and lending institutions and are specifically designed to help cover educational costs. Many

alternative loan programs require that an undergraduate student with limited credit history apply with a co-signer.

AES/PHEAA does a great job of comparing the benefits of borrowing a Stafford or PLUS loan versus an alternative loan.  To download a side-by-side comparison of interest rates, loan fees, repayment terms, and more, please visit www.aessuccess.org/find_aid_for_school/alternative_loans/index.shtml.

Educate Yourself Before Borrowing

Below are some questions you should consider before borrowing an alternative loan.

What is the interest rate?

Most alternative loans come with a variable rate. Estimate your total interest charges and your total indebtedness.

What fees will be charged?

Most (not all) loans have origination fees that are deducted from the principal amount that you borrow. In some cases, the

origination fee may be added to the principal amount that you borrow.

Will I have to make payments while in school?

Some lenders have loans that enter repayment immediately after full disbursement, while other programs allow you to

defer your payments until you leave school. Many programs let you pay electronically and offer rewards, such as lower interest

rates to those who consistently pay on time.

Who is eligible?

Each program may have its own criteria for determining loan eligibility. Creditworthiness and a creditworthy co-signer are

most often at the top of the list. The number of credits you are making for the loan period is also considered.

How much may I borrow?

Each lender has different minimum and maximum lending amounts for each loan period and a cumulative borrowing

limit.

Check Out Your Repayment Options Before Borrowing

Understanding your options will help you decide how much you can borrow.

Before You Sign Anything

Keep in mind that these are loans, not grants. When you enter repayment, you’ll be requested to make regular monthly payments. Make sure that you don’t put yourself in a situation you can’t handle.

Alternative Loan Lenders

The lenders and products referenced below represent what Student Financial Services believes to be some of the most competitive and flexible private loan options available. We encourage you to contact the lenders listed in the chart for additional information regarding alternative financing options. 

Borrowers are free to choose any loan product when borrowing an Alternative Loan.  We encourage you to consider other lenders and other loan products and to choose those whose repayment terms, services, and borrower benefits best meet your needs.

  __________________________________________________________________________
 

How Registration Affects Financial Aid

__________________________________________________________________________
 

Federal regulations and institutional guidelines require students to be registered before any financial aid monies can be disbursed. In addition, all federal and state aid programs specify minimum enrollment requirements in order for a student to receive any (maximum or partial) assistance. These requirements are broken into four enrollment classifications: full-time, three-quarter time, half-time, and less than half-time. The chart below indicates the number of credits used to determine an undergraduate student’s enrollment status.

_________________________________________________________________________

Determining Award Eligibility
_________________________________________________________________________
 

__________________________________________________________________________

Cost and Payment Information
__________________________________________________________________________
 

The information provided on the FAFSA determines the Expected Family Contribution (EFC). By subtracting the EFC from the educational costs for the year, the student’s financial need is calculated. Lock Haven University then determines how much of the student’s financial need will be met from all available sources. Lock Haven University assumes the student will accept the responsibility for as great a share of cost as possible.

Actual costs for the 2009-2010 academic year will not be available until July 2009.  The following 2008-2009 cost figures are provided for your information.