Financial Aid

What types of federal aid are available?

Grants

What is a grant?

  • Money you don't have to pay back to assist in paying for college.
  • Does not need to be repaid.
  • Usually need-based.

What types of grants are available?

  • Federal Pell Grant - Available to undergraduate students. The FAFSA determines eligibility based on your income.
  • Federal Supplemental Educational Opportunity Grant (FSEOG) - Available to eligible undergraduate students with exceptional financial need.
  • Teacher Education Assistance for College and Higher Education Grant (TEACH) - Available to eligible students in the LCSC Elementary Education PACE Program during the Summer semester. Students commit to becoming a teacher in a high-need field in a low-income area.
  • Iraq & Afghanistan Service Grant - Available to eligible students whose parent or guardian was in the Armed Forces and died as a result of serving in Iraq or Afghanistan after 9/11. Eligility is determined by the Federal Department of Defense.

Loans

What is a William D. Ford Federal Direct Subsidized Loan?

  • Borrowed money for college that you must repay.
  • Need-based loan.
  • Cannot exceed your cost of attendance.
  • The current fixed interest rate for the 2017-2018 academic year is 4.45%.
  • Principal and interest are deferred while in school at least half-time (6 credits).

What is a William D. Ford Direct Unsubsidized Loan?

  • Borrowed money for college that you must repay.
  • Non-need based loan.
  • Cannot exceed your cost of attendance.
  • The current fixed interest rate for the 2017-2018 academic year is 4.45%.
  • Interest begins accruing as soon as the loan is disbursed.

 

What is a William D. Ford Federal Direct PLUS Loan?

  • A loan for parents of undergraduate students to cover expenses that are not covered by other financial aid.
  • The current fixed interest rate for the 2017-2018 academic year is 7%.
  • Amount cannot exceed the student's cost of attendance.
  • To find out more information and/or apply for the loan, visit https://studentloans.gov.

 

What is a Federal Perkins Loan?

  • A low interest loan for undergraduate students with exceptional financial need.
  • The interest rate is 5%.
  • Perkins funding is limited.
  • All payments will be made to LCSC through University Accounting Services.

Work-Study

What is Work-Study?

Financial Aid Freddie is a drawing of a frog mascot (3)