Terms and Conditions
Understanding Your Financial Aid Awards
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.
Teacher Education Assistance for College and Higher Education (TEACH) Grant is a federal grant for current and prospective teachers created by the College Cost Reduction Act of 2007. Eligible students may receive up to $4,000 per academic year. Aggregate amounts are $16,000 for students for their first undergraduate or post-baccalaureate program and $8,000 for graduate students. To be eligible for a Teach Grant at Lock Haven University, a student must complete the FAFSA and have a 3.25 cumulative GPA. In addition, the student must have been granted degree candidacy by the LHU education department and be pursuing a degree in a high needs field. Currently the following areas are considered high needs fields: Bilingual education; English Language Acquisition; Foreign Language; Mathematics; Reading Specialist; Science; Special Education; and other shortfall areas as defined by the state in which the teaching will occur. Once it has been determined that a student meets all criteria for eligibility, s/he must complete an initial counseling session as well as an “agreement to serve/promise to pay”. By signing this agreement the student acknowledges an understanding of the terms of the grant and the terms of the teaching service requirements. Upon graduation, the student must teach full-time for at least four years within eight years of completing his or her program as a highly qualified teacher at a Title I school in a high needs field. If these conditions are not met, the grant must be repaid as an unsubsidized Direct Stafford Loan, with interest calculated from the date(s) of original disbursement. For more information about the TEACH Grant, please visit http://studentaid.ed.gov/PORTALSWebApp/students/english/TEACH.jsp. Please Note: Interested students should carefully review the eligibility requirements of this grant and consider how likely they are to meet them.
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 PHEAA. 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. If a student is eligible for a state grant in the summer, a student must be enrolled in at least six credits over an eight week period of time.
Pennsylvania State GEAR UP Scholarship is a federally funded program that supports college readiness through early intervention activities in middle and high schools, and offers a scholarship for postsecondary education. To be eligible for the Gear Up scholarship, students would have participated in the program by attending one of the following high schools in the Harrisburg and Philadelphia areas: Harrisburg High School (includes William Penn, CTA and Sci-Tech) in the Harrisburg School District; and Martin Luther King, John Bartram Main, Strawberry Mansion or Young Women's Leadership School at Rhodes High School in the School District of Philadelphia. Other eligibility criteria can be found at www.pheaa.org/funding-opportunities/other-educational-aid/gear-up.shtml. To determine eligibility for the Gear Up scholarship, a student must file a FAFSA for the academic year s/he plans to attend college and submit a GEAR UP Scholarship Application to PHEAA. The Gear Up scholarship award is typically equal to the student's Pell Grant award.
Other State Grants 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 more information.
Federal Supplemental Educational Opportunity Grant (SEOG) Provided by the federal government for distribution by Lock Haven University. The Financial Aid 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 37.5 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 Financial Aid 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 Financial Aid under separate cover when it is time to complete those items.
Federal Direct 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 $5,500 at the freshmen level, $6,500 at the sophomore level, and $7,500 at subsequent levels. The aggregate total of loans as a dependent, undergraduate may not exceed $31,000. 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 Direct Stafford Loan must complete an entrance interview and Master Promissory Note. For additional information about this loan, including Application Steps, click here .
Federal Direct 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 typically no income verification is required, the borrowing parent's credit history is evaluated. For additional information about this loan, including Application Steps, click here .
Federal Direct Graduate 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 typically no income verification is required, the student's credit history is evaluated. For additional information about this loan, including Application Steps, click here .
Private Alternative Loans Private, non-federal student loans. We recommend that you first apply for all other forms of financial aid, including grants, scholarships, employer tuition plans, and federal students loans (e.g. Stafford and PLUS), before applying for an Private Alternative Loan. The terms and conditions of federal student loans (under the Title IV, HEA program) may be more favorable than the provisions of private, non-federal student loans. Student Private Alternative Loan 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 Private Alternative Loan programs will be explained later.
Other 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 Financial Aid to consider all sources of financial assistance when awarding aid. Those sources include things like scholarships (LHU or private), athletic grants, tuition waivers, VA education benefits, and Private Alternative Loans. If your Financial Aid Award Letter did not include all of the assistance you are receiving, chances are the Financial Aid Office 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 Financial Aid may have to reduce one or more of your awards. For example, if the Financial Aid Office awarded you your maximum eligibility of $21,800 in financial aid, and then you receive a $2,000 scholarship, the Financial Aid Office may be required to reduce the aid awarded by $2,000 to keep you within the $21,800 limit. You can help prevent an overaward by informing the Financial Aid Office of all sources of financial assistance as soon as you know about them.
The Financial Aid Award Shall be Void if:
you default on Federal Perkins, Stafford, GradPLUS, or National Direct Student Loan;
you owe a repayment on any Title IV federal student aid funds received previously;
you do not report changes listed below to Financial Aid;
you do not make Satisfactory Academic Progress;
incorrect information is revealed on the FAFSA and/or;
you intentionally make false statements or misrepresent 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.
you are convicted of any offense, during a period of enrollment for which you receive Title IV, Higher Education Act (HEA) Federal Student Aid (whether grants, loans or work-study), under any federal or state law involving the possession or sale of illegal drugs. A conviction will result in the loss of eligibility for any Title IV, HEA grant, loan, or work-study assistance (HEA Sec. 484(r)(1)); (20 U.S.C. 1091(r)(1)).
Drug Convictions and Federal Student Aid - If you are convicted of any offense, during a period of enrollment for which you receive Title IV, Higher Education Act (HEA) Federal Student Aid (whether grants, loans or work-study), under any federal or state law involving the possession or sale of illegal drugs, you will lose your eligibility for any Title IV, HEA grant, loan, or work-study assistance (HEA Sec. 484(r)(1)); (20 U.S.C. 1091(r)(1)).
Payment of Financial Aid Financial aid awards (except Federal 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. Disbursement of certain funds may be delayed for students enrolled part-time. 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. For this reason, disbursement of certain funds may be delayed for students enrolled part-time. 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 Financial Aid 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. In April, the Financial Aid Office will begin requesting, from selected students, the documentation needed to complete the verification review. A student must respond to this request immediately to ensure timely processing and disbursement of his financial aid. 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. For more information, visit www.lhup.edu/financial-services/verification.htm .
National Student Loan Data System (NSLDS) - Information regarding federal loans (e.g. Stafford, PLUS, Graduate PLUS, Perkins) will be reported to the National Student Loan Data System with the U.S. Department of Education's (ED's) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, and other Department of ED programs. NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. This information is also accessible to authorized users of the NSLDS, such as guaranty agencies, eligible lenders, and eligible institutions of higher education. For more information visit www.nslds.ed.gov .
Changes in Student Circumstances The student agrees to notify the Financial Aid 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 college
Satisfactory Academic Progress
Satisfactory Academic Progress (SAP) is defined as sufficiently moving toward successful completion of degree requirements. The LHU Financial Aid Office is required by federal and state regulation to determine whether a student is satisfactorily progressing toward degree completion. Your official LHU academic record (i.e. transcript) is reviewed to determine student compliance with the SAP policy. All LHU students are evaluated for SAP at the end of each enrollment period (i.e. after fall, spring, and summer) once grades are posted by the LHU Registrar's Office. For specific information regarding this policy, please see the Satisfactory Academic Progress page.
Students are responsible for knowing and meeting SAP requirements; therefore, it is important to acquaint yourself with the SAP policy as soon as possible.
Please Note:
Additional academic progress requirements may apply to other aid programs, such as the PA State Grant.
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.