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Financial Aid Awards
How Awards Are Determined
Need is the primary determining factor when calculating financial aid. Need
is defined as the total college cost minus the student and family's
contribution. This Expected Family Contribution (EFC) is calculated using
your and your parents' previous year income and other financial
information.
You may use a calculator on the web to calculate an estimate of the
Expected Family Contribution (EFC) which will be expected for your period
of enrollment. It is important to complete the questions on this estimator
as accurately as possible. The EFC that is calculated for you can be used
for planning purposes, but it is not guaranteed. The official EFC,
calculated after you submit a signed FAFSA, will be used to determine your
financial aid. If you want to calculate an estimated EFC, click here.
Award Notification
Once the Federal Pell Grant, Pennsylvania State Grant, and out-of-state
grants are determined, you will learn whether you will receive aid and the
types you will receive. Lock
Haven University
will develop a financial aid package for you that may include other grants,
loans, or work study opportunities (all based on need). To receive
financial aid that is awarded, you must meet the terms and conditions of
awards which are referencted in the award notice
which you receive. Additional conditions of financial aid eligibility are
in the University catalog and the Student
Handbook.
What's Next
Once you receive your financial aid package, the funds will be equally
divided between two semesters and credited to your account. The
responsibility for paying any expenses exceeding your financial aid lies
with you. If you should receive more aid than your total University
charges, the difference will be refunded to you, so that you can apply
these funds toward other college-related costs. You will receive directly via
paycheck any college employment earnings.
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