Financial Aid Information

Student Financial Assistance


Preparing for a college education requires a great deal of advance planning. To assist students in getting on top of financial preparations, we have provided information about a number of important topics for consideration. It is recommended that students take time to familiarize themselves with these items and make a checklist of those points that might require attention.


Free Application for Federal Student Aid


The Free Application for Federal Student Aid (FAFSA) is used to determine eligibility for all the federal and state grant programs as well as the federal student loan programs. You may complete the FAFSA over the Internet. The web address is: fafsa.gov. LBC's Federal School Code is: 003285. Students must apply for financial aid for each academic year (July-June) of the Program. Please contact the Financial Aid Office to ensure completion of the correct FAFSA for the term for which you are applying.


Tuition cost for the 2016-17 Academic School Year

*All tuition prices are subject to change at the discretion of the institution


  Per Credit Hour Cost   $430
  3 Credit Hours   $1,290
  6 Credit Hours   $2,580
  9 Credit Hours   $3,870
  12 Credit Hours   $5,160
  Student Service Fee   $175/term

Grant Assistance


Grants are awarded based upon a variety of factors, but primarily on the student's demonstrated financial need as determined by filing the Free Application for Federal Student Aid (FAFSA). Students do not need to repay grant funds.


Federal Pell Grants are provided by the Federal Government and administered by the College. These grants are based upon demonstrated financial need as determined by the FAFSA. The maximum Pell Grant for 2016-17 is $5,815.


PA State Grants are provided to residents of Pennsylvania. This grant is based upon financial need. (NOTE: While all other agencies consider this a full-time program, PHEAA awards students grants based upon half-time enrollment.) The FAFSA filing deadline for a PA State Grant is May 1.


Loan Assistance


Federal Subsidized Direct Loan This is a low interest federal loan for qualified students. Repayment (principal and interest) is deferred until six months after a student graduates, withdraws, or drops below half-time status. Annual loan amount ranges from $3,500-$5,500.


Federal Unsubsidized Direct Loan This federal loan has the same terms and conditions as the Federal Subsidized Direct Loan except the borrower are responsible for interest that accrues while in school. Annual loan amount ranges from $2,000-$5,000.


Private Educational Alternative Loans Private loans are obtained through a lending institution to credit-worthy students. For more information go to elmselect.com or contact the Financial Aid Office.


General Information


Assistance in the financial aid application process can be obtained by contacting the LBC@CUTS Financial Aid Office at (215) 329-5400 or by emailing Janet Chung at jchung@lbc.edu. The Financial Aid Office is available to answer your questions and to help estimate your eligibility for financial assistance. So that your financial aid eligibility may be determined in a timely manner, please contact the Financial Aid Office four to six weeks prior to the beginning of Module 1.


Eligibility for all student financial assistance, including scholarships, is determined through the Financial Aid Office. Federal Aid cannot be applied to your account until you have started your second class. Pennsylvania residents must take at least three classes in a row in order to qualify for PA State Grant awards. Grants are awarded by PHEAA to on-time recipients at the half-time rate. If you qualify, your grant will not be credited to your account until you are enrolled in the third class. If your financial aid awards exceed your school bill, you may request a refund from the Business Office. Checks are cut once a week. If your aid arrives after the deadline for that week's check run, your check will be cut the following week.


Veterans Educational Benefits


All programs offered at LBC at CUTS are approved for veteran�s educational benefits.


  • Apply to the Department of Veterans Affairs for your Certificate of Eligibility (COE).

  • While awaiting your COE, apply to LBC@CUTS for admission.
    • Please note: It could take up to eight (8) weeks for your COE to be approved by the VA. LBC does not have any involvement in this process.

  • Complete the LBC Application & Enrollment Checklist for VA benefits.

We pray for your safety and special blessings from God, and thank you for your service in protecting our nation.


 

 

 
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