Institutional Merit-based Scholarships Only

The FAFSA process is not required for students who wish to be considered exclusively for an institutional merit scholarship. These families are encouraged to notify the Financial Aid Office that they do not plan to apply for need-based aid.


Need-based Aid

The FAFSA process is required for all families who wish to be considered for federal, state, and institutional need-based grants, for federal work-study, and for federal loan programs, including Direct Stafford loans, Perkins loans, Direct PLUS, and Graduate PLUS loans. All students are encouraged to explore opportunities for other outside scholarships.

Institutional aid will be electronically credited to the student's account, provided that all requirements have been met. The 2016-2017 disbursement dates for federal and state grants and loans are:

  • Summer - July 1, 2016
  • Fall semester - Aug. 24, 2016
  • Spring semester - Jan. 11, 2017

All students receiving any federal, state, or institutional scholarships, grants, loans, and/ or work-study must maintain Satisfactory Academic Progress.

 

Grants and Scholarships

Pell Grant (for full- and part-time undergraduates) 

  • Need-based grant from the federal government
  • Amount awarded between $598 and $5,815 depending on need and enrollment (2016-17)

SEOG Grant (for full-time undergraduates)

  • Need-based grant from the federal government
  • Amount awarded between $100 and $4,000 depending on need 
  • This grant supplements the LVC Grant program and is not awarded as additional aid

PHEAA State Grant (for full- and part-time undergraduate Pennsylvania residents)

  • Need-based grant administered by Pennsylvania Higher Education Assistance Agency
  • Maximum award for 2015-2016 - $4,340


State Grants - Conn., Del., Mass., Md., Maine, Ohio, R.I., Vt., W.Va. (for full-time undergraduates)

  • Need-based awards
  • Amounts vary


Lebanon Valley College Grant (for full-time undergraduates)

  • Need-based award
  • Your FAFSA serves as the application for an LVC Grant; there is no separate application. Eligibility and amount of award will be determined through the packaging process as determined by the institution and notification of the award will be made via the financial award package. Eligibility requires continued unmet financial need as demonstrated using federal methodology on an annual basis.


TEACH Grant

Reduction Due to Sequestration

Any new TEACH Grants first disbursed after October 1, 2013 are subject to a further reduction due to Sequestration (federal budget cuts). A student who is eligible to receive the full TEACH Grant scheduled award amount of $4,000 for 2015-2016 with a first disbursement prior to October 1, 2015 will receive $3,708 and a first disbursement date on or after October 1, 2015 will receive $3,728.

The Teacher Education Assistance for College and Higher Education Grant Program provides grants to students enrolled in a baccalaureate degree program who intend to teach in a public or private elementary or secondary school that serves students from low-income families.

  • In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. IMPORTANT: If you fail to complete this service obligation, all amounts of TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must repay this loan to the U.S. Department of Education (ED). You will be charged interest from the date the grant was disbursed.
  • If you are an incoming student, you must have a high school cumulative grade point average or the equivalent of 3.25 or higher. If you are a current student, you must have a college cumulative grade point average of 3.25 after each semester you received the grant.
  • For more information about the TEACH Grant, please review ED's TEACH Grant Fact Sheet

If you are interested in receiving the TEACH Grant at LVC, please contact Kendra Feigert, director of financial aid, at 717-867-6126 or feigert@lvc.edu to determine your eligibility and complete the necessary paperwork. 


Office of Vocational Rehabilitation (OVR) Grant – Pennsylvania (and other states)

This state agency http://www.dli.state.pa.us/portal/server.pt/community/vocational_rehabilitation/10356 provides a variety of services for individuals with physical disabilities, mental/nervous/emotional disorders, drug and alcohol rehabilitation, learning disabilities, and other conditions. Potential OVR clients undergo diagnostic testing to determine eligibility for services. This diagnostic process takes time and should occur well in advance of a student’s enrollment date. Services may include financial support for higher education. Students must complete the FAFSA. Awards are based on a formula that considers the cost of attendance, the Expected Family Contribution, the Pell Grant, and the PA State Grant. If you feel you may qualify for these services, please contact the Pennsylvania OVR District Office that serves your county.

 Similar services may be available to students residing in other states.


Pennsylvania Chafee Education and Training Grant Program

This federally-funded program offers grants to Pennsylvania undergraduate students aging out of foster care who are attending an eligible postsecondary institution.

PHEAA administers the Pennsylvania Chafee Education and Training Grant (Chafee) Program on behalf of the Pennsylvania Department of Human Services as authorized under the Foster Care Independence Act of 1999 and amended by the Promoting Safe and Stable Families Amendments of 2001.

Visit PHEAA's website for additional information and to apply.

 

Scholarships

Scholarships may be awarded by the College through the admission process. Additional scholarships are available from outside sources. Please visit the Scholarships page for the complete list. 

 

Loans

Please note that all loans must be repaid. 

Federal Direct Stafford Loan (for full- and part-time undergraduate and graduate students)

  • Guaranteed student loan from the federal government
  • Loans go into repayment after you cease to be enrolled at least half time 
  • Amount of loan depends on cost of attendance and cumulative credits

Credits

Maximum loan amount
0-27 $3,500
28-55 $4,500
56-83 $5,500
>84 $5,500
  • Loan may be subsidized or unsubsidized for undergraduate students. Graduate students are limited to an unsubsidized loan; annual maximum for graduate students is $20,500 and actual eligibility may vary depending on cost of attendance and aggregate borrowing history.

Subsidized 

  • need-based
  • six month grace period prior to repayment
  • government pays the interest while you are in school; for loans first disbursed after July 1, 2014, interest is also subsidized during the six-month grace period.  
  • fixed interest rate of 3.76% for undergraduate students
  • 1.068% origination (up front) fee 

Unsubsidized

  • non need-based
  • six-month grace period prior to repayment
  • you are responsible for interest payments while you are in school
  • fixed interest rate of 3.76% for undergraduates; 5.84% for graduate students
  • 1.068% origination (up front) fee
  • all eligible undergraduate students, regardless of need, may borrow $2,000 in unsubsidized Stafford loan in addition to the amounts listed above
  • please visit the U.S. Department of Education website for additional information


Perkins Loan (for full-time undergraduate students)

The U.S. Department of Education is phasing out the Perkins Loan program. Absent Congressional action, schools may not make Federal Perkins Loans to borrowers after September 30, 2017. If prior to October 1, 2017, a school makes the first disbursement of a Federal Perkins Loan to a student for the 2017-2018 award year, the school may make any remaining disbursements of that 2017-2018 loan after September 30, 2017.

  • Need-based federal loan; amount awarded determined by institution
  • Interest rate is fixed at 5% and government pays interest while you are in school
  • Primarily awarded to freshmen and sophomores demonstrating significant financial need           
  • nine-month grace period prior to repayment
  • please visit the U.S. Department of Education website for additional information


Federal Direct PLUS Loan (parent loan for full-time, dependent undergraduates)

  • Credit-worthy loan from the federal government
  • Fixed interest rate of 6.31%
  • 4.272% origination (up front) fee
  • Loan goes into repayment 60 days after final disbursement
  • Parent is eligible to borrow up to cost of attendance minus other financial aid
  • please visit the U.S. Department of Education website for additional information 


Federal Direct Graduate PLUS Loan (student loan for full-time, graduate students)

  • Credit-worthy loan from the federal government
  • Fixed interest rate of 6.31%
  • 4.272% origination (up front) fee
  • Loan goes into repayment after student ceases to be enrolled at least half time
  • Student is eligible to borrow up to cost of attendance minus other financial aid
  • please visit the U.S. Department of Education website for additional information

Student Alternative Loans 

 

Other

Federal Work Study (for full-time students, both undergraduate and graduate)

  • Need-based award
  • Earnings are paid to the student directly, not as a credit to the student's account
  • Please visit Student Employment for additional information regarding on-campus employment at Lebanon Valley College 
  • Please visit the U.S. Department of Education website for additional information regarding the Federal Work Study Program

Funding Education Beyond High School: The Guide to Federal Student Aid provides the latest information for all the Federal Student Aid programs.