Financial FAQ

more pages

Why not have them contact our Financial Assistance office? Most parents are surprised to learn that we can indeed make your coming to LCU possible through student loans, grants and scholarships. Let us see what we can offer you.

Although we don't know your particular circumstances, your chances are very good since about 95% of our students qualify for some type of financial assistance. Contact the financial assistance office with any questions or requests for more information.

We encourage you to apply early to ensure you receive the aid that you need. For new students, it is best to receive aid applications by June 15. Current students must reapply for aid each academic year and should submit applications in January and February. If you are seeking aid for summer school, please submit your application by May 1.

Student aid and scholarships are based on a variety of factors. Because of this, you must reapply for financial aid each academic year. All scholarships are renewable IF you maintain the required GPA within the range that you received the aid. If your GPA drops below the requirement you will lose your scholarship. Some scholarships will increase $500 each year if GPA requirements and full-time student status are met.

Scholarships, grants, loans and work study are available to qualified students. Your financial aid package could include federal and state grants, Stafford Loan, Perkins Loan and institutional aid.

You need to call the Financial Assistance Office and every effort will be made to work with you.

"Loans" means that this money must be repaid. There are two basic kinds:

• Subsidized
  A subsidized loan is based on financial need. The federal government will pay the interest on a subsidized loan through your enrollment period in school and through the grace period.
• Unsubsidized
  An unsubsidized loan is not based on financial need but on the cost of attendance. You must either pay the interest monthly/quarterly, or have the interest capitalized (added to the principal loan amount). Repayment of the interest and principle begins six months after you graduate, leave school, or drop below half-time enrollment.

This will depend on your class load, but LCU students spend approximately $500.00 per semester. Books are available for purchase through the bookstore on campus.

1. Apply and be accepted for admission to Lubbock Christian University .
2. Complete the Application for Financial Aid
3. Complete the Free Application for Federal Student Aid (FAFSA). The application is available at www.fafsa.ed.gov
4. Review your Student Aid Report (SAR)
5. Accept financial aid offer
6. Decide whether you will borrow the difference (optional)

Repayment on the Federal Stafford Loans begins six months after you drop below half-time enrollment.

The loans are flexible. You may cancel part or all of a loan any time during the same academic year. Forms to return loans to the lender are in the Financial Assistance office.

If you can pay the interest while in school, you will repay less in the long run. If you choose to capitalize the interest (having the interest added to the principle amount of the loan), you will increase the total amount you must pay back after you graduate or drop below half-time enrollment.

LCU has one of the best scholarship packages around. Freshman scholarships are based on GPA and ACT/SAT scores. Your LCU scholarship is renewable and will increase $500 per year for up to four years IF you maintain the GPA requirement. View our scholarship page for all of our scholarship opportunities!

LCU's Financial Assistance Office suggests you check out the following websites for listings: www.fastweb.com and www.finaid.org.

Yes they do.

The Free Application for Federal Student Aid (FAFSA ) is an application to determine eligibility for state and federal aid. We ask that all students complete the FAFSA as part of the financial aid process. You can find the application at www.fafsa.ed.gov.

This is the same application mentioned before - the FAFSA.

You guessed it - the FAFSA.

No, these particular grants only apply to undergrad students who are Texas residents.

Yes, you may want to consider Tuition Management Systems. For more information about this interest free, monthly payment plan, go to www.afford.com/lcu or call the LCU Financial Assistance Office at 1-800-933-7601 or 806-720-7176.

No, borrow only what you need to meet your educational costs. Simply write on your Initial Award Letter copy the total amount you wish to borrow for the academic year.

You can do one of two things at registration each semester:

1. Cash or check payments are accepted in the Business Office.
2. Our online payment programs (QuickBill and TMS) take credit card payments and also checking/savings account payments. Credit cards accepted are MasterCard, Discover, American Express and will be assessed a 2.75% processing fee.

Work study is based on financial need determined by FAFSA.

The Financial Assistance Office will provide a listing of work study jobs, so just check with them. All jobs are subject to the application and interview process.

There are also jobs on campus available for students who do not qualify for federal aid. All jobs are subject to the application and interview process. You can also check with LCU's Career Center. They keep a listing of off-campus jobs available and will try to help you find employment.

003586

You can apply for a PIN at www.pin.ed.gov. For dependent students, one parent should also apply for a PIN.