Financial Aid for Graduate Students

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Several sources of financial aid are available to graduate students through the Office of Student Financial Services. To apply for federal aid programs (i.e. Federal Direct Stafford Loan, Federal Direct Graduate PLUS Loan, Federal Perkins Loan, and Federal Work Study), students must complete a Free Application for Federal Student Aid (FAFSA). The FAFSA may be completed on line at www.fafsa.ed.gov . Students should begin the application process in January or February for the following fall semester. We recommend that the completed FAFSA application be submitted to the FAFSA processor by March 15 to ensure full and timely consideration for available aid programs. To be eligible for federal assistance, a graduate student must be either a U.S. citizen or eligible noncitizen. Inquiries regarding international student aid should be directed to the LHU Institute for International Studies at 570-484-2140.

Federal Direct Stafford Loans. The Federal Direct Stafford Loan program enables the student to borrow a low-interest loan for educational expenses. All students are required to complete a Free Application for Federal Student Aid (FAFSA) before a loan may be processed. Maximum eligibility is $20,500, combined subsidized and unsubsidized, per annum. Maximum subsidized eligibility, based on information provided on the FAFSA, is $8500 per annum. The current interest rate for first-time borrowers is fixed at 4.5% subsidized and 6.8% unsubsidized. Repayment for new borrowers begins six months after the student graduates or drops to less than half time status. The total amount that a graduate or professional student may borrow is $138,500, including Stafford Loans borrowed at the undergraduate level.

Federal Direct Graduate PLUS Loan. The Federal Direct Graduate PLUS Loan program enables students to borrow up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate PLUS Loans. These requirements include a determination that the applicant does not have an adverse credit history, repayment beginning on the date of the last disbursement of the loan, and a fixed interest of 7.9%. Applicants for this loan are required to complete the Free Application for Federal Student Aid (FAFSA).

Federal Perkins Loans. Federal Perkins Loan eligibility is based on demonstrated financial need. All students are required to complete a Free Application for Federal Student Aid (FAFSA) to determine their eligibility. Graduate students may borrow up to $60,000. This total includes any amount previously borrowed under Federal Perkins Loans for undergraduate study. Repayment for new borrowers begins nine months after the student graduates or drops to less than half time status. Eligibility for such a loan is based on demonstrated financial need. Federal Perkins Loans average $1,500 per annum.

Alternative Loan Programs. These programs offer students a variety of finance options. For information about specific loan programs, click here .

Federal Work-Study Program (FWS). Federal Work Study eligibility is based on demonstrated financial need. All students are required to complete a Free Application for Federal Student Aid (FAFSA) to determine their eligibility. Jobs opportunities are available both on and off campus. T he LHU Career Services Office posts Federal Work Study job openings online at www.lhup.edu/careerservices/campuslocalemployment.htm. Student employment forms are available online at www.lhup.edu/studentemployment . If eligible, a student may work up to 20 hours a week during regular academic sessions and 37.5 hours per week during vacation periods. In general, the earnings received are based on the current minimum wage, but may also be related to the type of work performed and the proficiency required of the student.

Campus and Other Employment. T he LHU Career Services Office posts Campus Employment and other job openings online at www.lhup.edu/careerservices/campuslocalemployment.htm. Any enrolled student may participate in the Campus Employment program. Student employment forms are available online at www.lhup.edu/studentemployment . A student may work up to
20 hours a week during regular academic sessions and 37.5 hours per week during vacation periods. In general, the earnings received are based on the current minimum wage, but may also be related to the type of work performed and the proficiency required of the student.

Graduate Assistantships. Please direct all inquiries to the Coordinator of the graduate program in which you are interested. For a listing of available positions, please click here .

Financial Aid Recipients Who Withdraw. Students who receive financial aid and who withdraw during a semester will have an adjustment made to their financial aid. If the withdrawal is before the ninth week, a percentage of financial aid received will be returned to the applicable programs. When LHU returns these funds, as required, the result may be a balance due to LHU, which will be the responsibility of the student. The withdrawal may also result in the student owing additional funds directly to federal financial aid programs. For more information about the implications of withdrawing from school, visit
www.lhup.edu/financial-services/return-of-title-iv-funds.htm  and www.lhup.edu/financial-services/veterans/withdrawal-checklist.htm .

Satisfactory Academic Progress. For financial aid purposes, the Federal Title IV assistance programs require students to maintain progress toward a degree. The federal programs include Federal Work-Study, Federal Direct Stafford Loan, Federal GradPLUS Loan, and Federal Perkins Loan. Satisfactory progress for financial aid purposes requires:

1. Maintaining a grade point average that allows continuation in the graduate program by the appropriate academic department.
   
2. Completion of 75% of credits attempted in each semester, including summer term(s).
   
3. Completion of degree in a maximum of six semesters of full time enrollment for MLA and MEd degrees and nine semesters of full time enrollment for the MHS degree.

Academic records will be reviewed at the end of each spring semester. Students who fail to meet the satisfactory progress requirements will be ineligible for federal financial assistance. Additional information concerning this policy may be obtained from the Student Financial Services Office.