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Grants,
Loans & Employment Options
Financial aid for college comes from a variety of sources,
including:
- The Federal
Government -
Sponsor of the Pell Grant, Academic Competitiveness Grant (ACG),
National SMART Grant, and Federal Supplemental Educational
Opportunity (FSEOG) Grant, awarded based on a students financial
need.
- The
Pennsylvania Higher Education Assistance Agency (PHEAA) -
Administrator of the PA state grant, also determined by financial
need.
- Student and
Parent Loan Programs -
Including the Federal Perkins Loan; the Federal Family Education
Loan Program, which includes Federal Stafford Loan for students
and Federal PLUS Loan for parents and graduate students; and
various alternative loan programs.
- Federal Work
Study or Campus Employment - These programs allow students to
hold part time jobs and earn funds to pay for their educational
costs.
Federal and state grants are monies which do not need to
be repaid. Need-based student loans, often used to cover the difference
between expenses and grant eligibility, offer students the option of
obtaining low-interest loans to meet college expenses. Repayment of
principal does not begin until after the student is no longer enrolled.
A student's need helps determine eligibility for the Federal Work
Study Program. However, all enrolled students, regardless of need, may
participate in the Campus Employment Program. In either program,
students work about nine to twenty hours per week. Jobs are on and off
campus and include work in labs, offices, the library and other
areas - students obtain valuable job experience, as well as a bi-weekly
paycheck. Jobs are generally available for students who are interested
in working and seek employment early in the semester. The LHU
Career Services Office posts job openings for both Campus Employment
and Federal Work Study at www.lhup.edu/career/oncampusemployment.htm.
Approximately 1200 students obtain work throughout the year.
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