Financial Aid FAQs
For Students
The FAFSA Simplification Act made significant changes to the application process, including the content of the FAFSA form and the eligibility calculation. The 2024–25 FAFSA includes changes in terms of format, questions asked, access to the application, and how the IRS will share data to assist applicants with completing the FAFSA.
- The opening of the 2024–25 FAFSA will be delayed until sometime in December 2023. The Department of Education has not yet provided a specific release date.
- The Expected Family Contribution (EFC) will now be called the Student Aid Index (SAI) and how the index is calculated has changed.
- More students nationwide will be eligible for the Pell Grant.
- Multiple children in college will no longer reduce the SAI (previously the EFC) which resulted in higher financial need.
003288
The priority deadline for new students is February 15 and for returning students is March 1. All Pennsylvania state grant applicants must file their FAFSA by May 1. View additional information about applying for financial aid.
No, we do not. We simply require the FAFSA. Other institutions may require the Profile. Be sure to check with them.
No. Many students qualify for aid, even if they do not think they will. All students are eligible for Federal Stafford Loan regardless of need.
The FAFSA serves as your application for Pennsylvania and most state grants. For the PA State Grant, it must be filed by May 1.
As a new student, you will also be required to complete the State Grant Form. You can link to this form after submitting your FAFSA, if you listed an institution located in PA first in your list of schools. If you miss the link (only available when you initially file the FAFSA), PHEAA will email you about completing the State Grant Form.
No, you can apply for financial aid before being accepted. However, you will not receive a financial aid package until you have been accepted.
Add LVC’s school code (003288) to your FAFSA and resubmit. We will receive it electronically.
Yes, our merit scholarships are based on high school achievement and are awarded without regard to financial need.
The guidance center at your high school is a great source for outside scholarship information. You may also find scholarships in your community.
Students whose FAFSA forms are selected by the federal government to undergo an additional process called Verification will be asked to complete and return a Verification Worksheet, W-2 forms, and if the family did not elect to use the IRS Data Retrieval tool while completing the FAFSA, they will need to provide the Financial Aid Office with copies of an IRS-issued tax return transcript.
Compare the package from LVC with the packages from other colleges to which you have applied. If you choose to attend LVC, sign and return one copy of the award letter and Borrowing Intention Form (BIF) to the Financial Aid Office. If you plan to borrow the Federal Direct Stafford Loan and this is the first time you are borrowing this loan, complete the Direct Loan Entrance Counseling and Master Promissory Note at studentaid.gov.
Contact the Financial Aid Office as soon as the circumstances change. If warranted, we will mail you a Change of Financial Circumstance form.
Yes. You will have to complete a FAFSA each year.
The Higher Education Amendment of 1992 currently defines an independent student as a person who meets at least one of the following criteria:
- is 24 years of age or older
- is an orphan or a ward of the court
- is a veteran of the U.S. Armed Forces
- is currently serving on active duty in the U.S. Armed Forces for purposes other than training
- is a graduate or professional student
- is married, as of the date applying for financial aid
- has legal dependents other than spouse
Provided you have submitted the required documents and you have been accepted to the college, new students will begin receiving financial aid packages in December. Returning students who have completed the application process will begin receiving financial aid packages in early July.
Residency Policy
Lebanon Valley College is a four-year residential college and believes that an LVC education is the result of distinctively curricular and co-curricular experiences in class, on campus, and in the residences. As such, all first-year students, sophomores, juniors, and seniors are required to live on campus, unless they are enrolled as a commuting student. All resident students must have a residential meal plan.
The College will provide housing to currently enrolled full-time undergraduate students who have not completed an undergraduate degree. Ninth-semester seniors who have not completed an undergraduate degree may appeal to the director of residential life for on-campus housing.
Commuter Status
To be considered a commuter, a student must live within a 30-mile radius of campus and commute from their parent(s)/guardian’s home or permanent residence daily. The change of housing status form can be obtained from the Office of Residential Life. The form requires a parent or legal guardian’s signature and must be received in the Office of Residential Life by July 1 for the fall semester and by December 1 for the spring semester. Students listed as a commuter and later found living in off-campus quarters will be assigned a room and meal plan on campus and charged accordingly.
For Parents & Families
The Pennsylvania Higher Education Assistance Agency (PHEAA), in conjunction with PASFAA (Pennsylvania Association of Student Financial Aid Administrators), hosts FAFSA Completion Help Events from September through February of the senior year in high school. These events are free and open to the public. Check the PHEAA website at PHEAA.org for dates and locations.
Lebanon Valley College, as well as other schools have generous aid programs that help students and parents afford a private education. More than just price, the choice of school is a choice of what program best suits the needs of the student.
LVC provides financial packages to students with various economic backgrounds. Because there are many factors that figure into the financial aid equation, all families are encouraged to apply for financial aid.
As a result of completing the FAFSA, your student will receive a Student Aid Report (SAR) that will list an Expected Family Contribution (EFC). Your EFC is then subtracted from the cost of attendance to determine your student’s financial need. The EFC is derived from a variety of factors including income, assets, number of students attending college, and extenuating circumstances affecting your family’s financial resources.
In the case that you and your spouse are divorced or separated, the custodial parent is the parent that submits the FAFSA. If the custodial parent is remarried, the FAFSA then contains information about the custodial parent and the step-parent.
A financial award package is a listing of all financial aid for which your student is eligible. It may consist of any combination of the following four items:
- Grants
- Scholarships
- Loans
- Work Study
When the amount of financial need is calculated for financial aid purposes, the additional costs such as books and travel expenses are added into the calculation.
There are financing options available through the payment plan, Federal PLUS Loan, and/or student alternative loan.
You should indicate August to May as the loan period.