The Lebanon College Financial Aid Office is dedicated to providing financial assistance to students who would otherwise be unable to attend college. This is done by assisting them to find the financial means to pay for their college education. A variety of financial aid is available to qualified individuals in the form of grants, loans, part-time employment, and scholarships. Some of these funds originate from federal and state agencies and some originate from local government and community-based organizations. Scholarships and grants do not have to be repaid. Loans must be repaid. Many loans are repaid after the student graduates or stops attending the College.

Lebanon College also awards institutional grants and scholarships based on students’ performance (or potential performance) in their programs of study and/or on their basis of financial need. Lebanon College’s in-house financial aid is available to matriculated as well as non-matriculated students taking academic courses.  To apply, a Lebanon College in-house financial aid application form must be completed with all supporting documents prior to the term start, and returned to the Financial Aid office.

Sources of Federal Financial Aid

• Federal Pell Grant (PELL) – Eligibility is based on financial need. Only those students who have not earned a bachelor’s degree are eligible. A Pell Grant does not have to be repaid.

• Federal Supplemental Education Opportunity Grant (SEOG) – Eligibility is need based and it does not have to be repaid. Pell grant recipients have priority. Award amount is dependent upon qualification for federal funds. Only those students who have not earned a bachelor’s degree are eligible.

• Academic Competitiveness Grant (ACG) – Available to fulltime students receiving Pell Grants who are in their first or second academic year of study. Students must have graduated from high school after January 1, 2005 and have completed a rigorous secondary school program of study. An Academic Competitiveness Grant does not need to be repaid.

• Federal Stafford Loans – Subsidized (need-based) or Unsubsidized (no need) Loan with a fixed interest rate. Interest is applied six months after the student terminates college studies. For Unsubsidized Loans, interest is applied the day the loan is disbursed. Students are responsible for the interest during their enrollment in school. Loans must be repaid.

• Federal PLUS Loan (Parent Loan) – Parents of dependent students may apply for this loan. Eligibility is not need-based and a good credit history is necessary. Repayment begins 60 days after disbursement of funds. Parents may borrow the cost of education minus other aid.  Federal PLUS Loans must be repaid.

• Additional Federal Unsubsidized Stafford Loan – Available to dependent students whose parents have been denied a PLUS loan. This is need-based. Interest and repayment terms are similar to the Federal Direct Unsubsidized Stafford Loans. Loans must be repaid.

• Federal Work-Study Program (FWS) – Federal Work-Study funds provide job opportunities for students to earn money while attending school. The amount of money awarded is based on net earnings along with a student’s need and the availability of funds. This money must be earned and taxes student will receive a paycheck every two weeks.

Applications for In House Financial Aid are available for the Fall, Spring, and Summer Terms at the Financial Aid Office and are due prior to the start of each term.

• Cunningham Scholarship – Per term scholarship given to students (who show financial need and have a grade of “C” or better.) The amount of each scholarship will not exceed $300 per term. There are six Cunningham scholarships available each year.

• Rodney Poland Scholarship Fund – Available to students who are in a technology, health, or science program, and have successfully completed their first term. The student must show financial need, and continue to have a “C” or better grade average. Amounts of this award are $100 to $500 per term. There are twenty Poland scholarships available per year.

• Presidential Scholarship – This aid is based on merit and financial need and will not exceed $1,000 per year. Currently there are twenty Presidential scholarships available each year.

• Senior Citizen Scholarship (65 years; proof of age required) – A seniors’ tuition discount program. Based on need.

• Wechsler Scholarship – This scholarship is available to students studying in the Business areas. This is need-based aid available to students who maintain satisfactory progress and are involved as a volunteers, mentors, or in another acceptable social service to the community. Amounts of this award are $300 to $800.
There are two Wechsler scholarships available each year.

• Jackson Wright Scholarship – This is merit-based aid available to advanced students studying in health related programs. Amount of this award is $200 per term. There are four Wright scholarships available per year.

• Agnes Lindsay Scholarship – Scholarship available to all students located in an area populated with 5,000 people or less, who show financial need and maintain satisfactory academic progress. The amount of each award is $500. There are ten Lindsey scholarships available each year.

•  Leveraged Incentive Grant Program – This is a merit based grant available to second year students who are N.H residents and demonstrate financial need.

• New Hampshire Higher Education Assistance Foundation - http://nhheaf.org.
• Vermont Student Assistance Corporation - http://vsac.org.
• New Hampshire Charitable Foundation - http://nhcf.org.
• Lebanon Chamber of Commerce Scholarship Fund - Chamber Scholarship.pdf
• Rotary Scholarship - check with your local Rotary for available funds.

Other scholarships that may be available to Lebanon College students can be found on the web at http://fastweb.com.

First Time Use of Benefits
Students using their benefits for the first time must:

• complete an “Application for Educational Benefits” (22-1990)


• provide an original or court certified copy of their discharge papers (DD-214)


• provide documentation on dependents.


Previous Use of Benefits
Veterans who are new to Lebanon College but have used their educational benefits at another school must complete a “Request for Change of Program or Place of Training” (22-1995).

Requirements for Benefits
In order to receive Veterans’ educational benefits, student must apply for admission to a degree program of study as outlined in this catalog. Students must notify the Admissions Office of any changes in enrollment or curriculum.

At Lebanon College, through our association with different business partners in the Upper Valley Community we are able to offer tuition waivers to their employees on a per-course basis with proper identification. Current Business Partners include Mary Hitchcock Memorial Hospital, Lebanon/Hanover Consumer Cooperative Society, Mascoma Savings Bank, and GEOKON, Inc.  For the most up to date list please contact the Finance Office at 603-448-2445 ext 107.

• Be enrolled in an eligible degree or certificate program by having completed all the necessary admission steps;


• Be taking 6 or more credits per term;


• Be in good academic standing and making satisfactory academic progress. See the Satisfactory Academic Progress policy for a complete explanation;


• Be a citizen or eligible non-citizen of the United States or Trust Territories;


• Not be in default in the repayment of any educational loans or owe a refund on any Title IV grant program at any institution;


• Be registered with the Selective Service if you are a male. Any male born after January 1, 1960, must certify registration with the Selective Service before he can receive any Title IV funds. A signed statement to this effect is acceptable;


• Complete a Free Application for Federal Student Aid (FAFSA).

• Receive a 4-digit pin number from the Federal government in order to electronically process your FAFSA application at www.pin.ed.gov

• Complete and submit FAFSA through www.fafsa.ed.gov (Lebanon College’s school code is 007025)

If selected for verification by US Department of Education, student must submit a signed copy of his/her Federal Income Tax Return (including all attachments and W2s) or, if a tax return is not filed, a signed completed, Non-Filer Form with required documentation attached, as well as the verification page for dependent or independent student status.

• The award notice is for one academic year (3 terms) and outlines the types and amounts of aid offered.


• All new and revised award notices must be signed by the students. This notification represents the most equitable offer based upon the information provided and the funds available to the College. The availability of funds from Federal and State programs is subject to federal and state appropriations and to changes in Federal and State legislation and regulations.


• When their financial circumstances change, students are required to notify the Financial Aid Office so that adjustments on the award package can be made.
• When outside awards are received, the student is required to notify the Financial Aid Office or Finance Office to assure that these awards are credited to the student and to adjust need-based aid when mandated by Federal and State law.
• Before adding or dropping a course, transferring programs, withdrawing from a program or beginning a leave of absence, please refer to the sections in this catalog.  Students must notify the Financial Aid office regarding any changes in their program.  If you have questions regarding procedure, awards, or for further information, please contact the Financial Aid Office, financialaid@lebanoncollege.edu  or 603-448-2445 ext 121
  

Federal Aid Disbursement

A student's financial aid is credited directly to the student account in the Finance Office. A Federal Aid award is applied to tuition and fees each term for the 3 terms in the academic year. Aid funds may be credited for other charges with authorization from the student.

When a student registers for courses, he/she may deduct the amount of aid that has been awarded (except Federal Work-Study) from what is owed to the College. If a student's financial aid awards exceed his/her charges, the student will receive a refund. Credit balances are disbursed to students through the Finance Office.

With the exception for employment through the Federal Work-Study Program, these funds are paid in the form of bi-weekly paychecks from the Finance Office. Funds are paid for hours worked and taxes are withheld.

The student whose aid does not cover all expenses should be prepared to pay the difference from personal funds. The Financial Aid Office has information on payment plans allowing students to extend payments over a prearranged period of time. For more information about the Lebanon College Short-term Loan, please contact the Financial Aid Office.

Return of Title IV Funds

This policy applies to students who complete 60% or less of the enrollment period (i.e., Fall, Spring or Summer terms) for which they received Federal Title IV aid. A student who drops a class but still completes one or more classes does not qualify for the Return of Title IV Funds policy. The term “Title IV aid” refers to the following federal financial aid programs: Unsubsidized Federal Stafford Loans, Subsidized Federal Stafford Loans, Federal Perkins Loans, Federal PLUS (Parent) Loans, Federal Pell Grants, and Federal SEOG (Supplemental Educational Opportunity Grant).

To conform to the policy, Lebanon College must determine the student’s withdrawal date. The withdrawal date is defined as the date the student began the withdrawal process or officially notified Lebanon College of his/her intent to withdraw.

For all other withdrawals without notification, the withdrawal date is the last date of attendance at an academic- related activity by the student. The calculation required determines a student’s earned and unearned Title IV aid based on the percentage of the enrollment period completed by the student. The percentage of the period that the student remained enrolled is derived by dividing the number of days the student attended by the number of days in the period. Calendar days (including weekends) are used, but breaks of at least 5 days are excluded from both the numerator and denominator. Until a student has passed the 60% point of an enrollment period, only a portion of the student’s aid has been earned. A student who remains enrolled beyond the 60% point is considered to have earned all awarded aid for the enrollment period.

Earned aid is not related in any way to institutional charges. In addition, the College’s refund policy and Return of Title IV Funds procedures are independent of one another. A student who withdraws from a course may be required to return unearned aid and still owe the College for the course.

For more information on Lebanon College withdrawal and institutional charges, please refer to the Withdrawal, Tuition and Fees section of the Catalog. The responsibility to repay unearned Title IV aid is shared by Lebanon College and the student. For example, the calculation may require Lebanon College to return a portion of federal funds to the Federal Title IV programs. In addition, the student may also be required to return funds based on the calculation. A student returns funds to the Federal Stafford Loan programs based on the terms and conditions of the promissory note of the loan.

A student who receives a Federal Pell Grant may be required to repay 50% of the funds received. The return of federal aid is in the following order: Unsubsidized Federal Stafford Loans, Subsidized Federal Stafford loans, Federal Perkins Loans, Federal PLUS (Parent) Loans, Federal Pell Grants, and Federal SEOG (Supplemental Educational Opportunity Grant).

Students who owe funds to a grant program are required to make payment of those funds within 45 days of being notified that they owe this overpayment. During the 45 day period students will remain eligible for Title IV funds. If no positive action is taken by the student within 45 days of being notified, Lebanon College will notify the U.S. Department of Education of the student’s overpayment situation. The student will no longer be eligible for Title IV funds until they enter into a satisfactory repayment agreement with the U.S. Department of Education. During the 45-day period, the student can make full payment to Lebanon College of the overpayment.

The College will forward the payment to the U.S. Department of Education and the student will remain eligible for Title IV funds. Please make the check payable to Lebanon College, attn: Finance Office. If a student is unable to pay the overpayment in full, he/she can set up a repayment plan with the U.S. Department of Education. Before doing this the student should contact the Lebanon College’s Financial Aid Office to confirm that his/her situation has been referred to the U.S. Department of Education before any repayment plan can be set up.

U.S. Department of Education
Student Financial Assistance Programs
P.O. Box 4222
Iowa City, IA 52245
Phone: 1-800-621-3115
E-mail: DCS_HELP@ed.gov.