Eligibility Requirements

To qualify for financial aid, you must be:

• A U.S. Citizen or eligible non-citizen
• Enrolled in a degree or certificate program at Lyndon
• In good standing on any federal student loan payments (you may not owe a refund on previously awarded financial aid)
• Enrolled for at least 6 credit hours (3 credit hours for Pell Grant eligibility only)
• Making satisfactory academic progress*
• Registered with Selective Service (if required)

Students enrolled in state certification agency approved courses for teacher certification may be eligible for some aid programs.

*Federal financial aid regulations require that financial aid recipients maintain a satisfactory rate of progress toward their degree completion requirements in order to continue receiving financial aid. Students must meet a time progression and a cumulative Grade Point Average (GPA) requirement. Students with disabilities may be allotted additional time for completion of courses if this is an appropriate accommodation. Click here for further information on Satisfactory Academic Progress.

How Financial Aid Eligibility is Determined

Your Student Budget

First, we determine how much your Lyndon education will cost. The student budget includes:

• Tuition
• Fees
• Room and board
• Books and supplies
• Transportation
• Personal expenses.

Because costs can vary greatly between individual students, we establish standard, average costs for books and supplies, transportation, and personal expenses.

• We use the cost of a double room and the 21-meal plan for all students regardless of if they live in a residence hall or off-campus, except for those students who live at home during the semester.
• Students living at home have a lower allowance for room and board.
• Self-supporting students may also be able to receive additional funds for child and dependent care not already covered by another source. You must provide us with documentation of those costs.

Your Expected Family Contribution

Then we determine your Expected Family Contribution (EFC). EFC is the amount you and your family are expected to contribute towards your educational costs.

• The EFC is determined by a standard formula called the Federal Methodology.
• The calculated EFC is based on such criteria as your and your parents’ income and assets, federal taxes paid, family size, and the number of family members in college.
• Your EFC will be the same regardless of the college you attend.
• This same EFC is used to determine your eligibility for Lyndon State scholarships and grants.
• Lyndon State strives to meet students’ financial need with a combination of grants, work-study, student loans and parent loans. Please be aware that you may be able to replace a portion or all of your EFC with a Federal Unsubsidized Stafford/Ford Loan for students and/or a Federal Parent Loan for Undergraduate Students (PLUS) loan.

Determining Your Financial Need

These calculations allow us to determine your financial need.

• Financial need is the difference between your student budget and your expected family contribution. This is what we use to determine the amount of financial aid eligibility.
• Even though we have limited funds in some of our aid programs, we will make every effort to provide you with a fair and equitable financial aid award.

Applying for Financial Aid

Beginning January 1, on an annual basis, complete the Free Application for Federal Student Aid (FAFSA) prior to February 15.

• Obtain a PIN for the student and one parent to e-sign the FAFSA
• Apply online at www.FAFSA.gov.
• Once your data has been submitted, the Department of Education will forward the information electronically to all schools you authorize to receive your information.
• You will receive an email from the Department of Education containing a link to your processed FAFSA, aka Student Aid Report.
• If you completed your FAFSA with estimated income, return to www.fafsa.gov, to update your FAFSA with actual tax data using the IRS data retrieval tool (DRT).
• The priority deadline for submitting the FAFSA at Lyndon State is February 15.
• Applying by our priority deadline ensures that you will be considered for all forms of federal aid.
• Late applications are awarded in chronological order by their date of receipt and are subject to the availability of funds.
• If you are a returning student, you will receive an email from the U.S. Department of Education reminding you to complete a renewal FAFSA.

Scholarships & Grants

Lyndon offers a variety of scholarships and grants. Merit based scholarships will be granted at the time of acceptance. Many need based scholarships will be awarded based on the FAFSA, while others require an application. Please click here to see full list of need based scholarships requiring an application.

• To be considered for need-based scholarships, a student must file a Free Application for Federal Student Aid (FAFSA)and be determined to have “need”
• A FAFSA is not required for non-need-based scholarships
• Some of our scholarships require the submission of SATs and/or ACTs. If a student has taken the ACT his/her admissions counselor will determine the corresponding SAT score by consulting the SAT/ACT Concordance Table.
• All scholarships that are available to non-Vermont students (out-of-state students) are available to international students who meet the eligibility requirements.

Financial Aid

Work Study Information

Work Study is a federally funded program designed to assist exceptionally needy with educational costs. Work-Study is a need-based program.

How do I qualify for Work Study?

• Application for Federal Student Aid(FAFSA) by February 15 at www.fafsa.gov.

In addition to early application, there are four other qualifications in order to be awarded work-study:

• You must be enrolled at least 6 credits per semester and must be working towards a degree at Lyndon State College.
• You must qualify on the basis of need. Need is determined by the Financial Aid Office after evaluating your FAFSA.
• You must be making satisfactory academic progress.
• If selected, you must complete the verification process.

Failure to turn in necessary documents when requested may result in loss of work-study eligibility. You will receive notification on whether or not you are eligible for work-study on your Financial Aid Award Letter/Email Notification. If your award package does not include a work-study amount, you are not eligible.

What forms do I need to fill out?

• Your work-study contract must be signed by both you and your supervisor before you are allowed to work.
• If you have never worked under the Work-Study program at LSC, you must complete an I-9 and W-4 form with your supervisor.

If you have any qestions about eligibility, contact us at LSCFinancialAid@lyndonstate.edu or call us at 802-626-6396.

Questions about job openings may be directed to Darlene.Gilman@lyndonstate.edu in Career Services.

Financial Aid Forms

Submit the FAFSA to be considered for financial aid.

• 2013-SUMMER-Financial-Aid-App
  
• 13-14AWA-T4A
  
• 13-14-AWA-SAP
  
• 13-14-AWAProgSum
  
• 13-14AWAOutSch
  
• 13-14AWAFunOp
  
• 13-14-AWAEstCoA
  
• 13-14SchAp1st
  
• Code-of-Conduct
  
• 2013-2014-Scholarship-App-ReturningStudents
  
• 2013-2014-Scholarship-App-FacultyStaff
  
• 2013-2014-Scholarship App-AlumniAssociation
  
• 2013-2014-Scholarship-App-FirstYearandTransfer
  
• 2013-2014-Verification-IndependentForm
  
• 2013-2014-PDF-FAFSA
  
• 2013-2014-StudentAidEligibilityWorksheetQuestion23
  
• 2013-2014-Verification-IdentityandEducationalPurpose
  
• 2013-2014-Verification-SNAP
  
• 2013-2014-Verification-Non-Filer'sStatementStudent
  
• 2013-2014-Verification-Non-Filer'sStatement-Parent
  
• 2013-2014-Verification-DependentForm
  
• 2013-2014-Verification-ChildSupport
  
• 2013-2014-AWARD-Val-Sal-SignatureandStatementofUnderstanding
  
• 2013-2014-AWARD-Title-IV-PaymentAuthorization
  
• 2013-2014-AWARD-ProgramSummary
  
• 2013-2014-AWARD-OutsideScholarshipQuestionnaire
  
• 2013-2014-AWARD-FundingOptions
  
• 2013-2014-AWARD-EstimatedCostofAttendance
  
• 2013-2014-AWARD-SatisfactoryAcademicProgressPolicyforFinancialAid
  
• 2013-2014 Scholarship App. Gilson-Reeves
  

State Grants

• Eligibility requirements vary from state to state.
• Please visit your state’s website for more information.
• Connecticut Board of Governors for Higher Education
• Finance Authority of Maine
• Massachusetts Office of Student Financial Assistance
• New Hampshire Postsecondary Education Commission
• Pennsylvania Higher Education Assistance Authority (PHEAA)
• Rhode Island Higher Education Assistance Authority
• Vermont residents may apply at Vermont Student Assistance Corporation (VSAC).
• Students from other states should consult the State Higher Education Agencies in their home state.

Federal Grants

• The Federal Pell Grant Program provides needy undergraduate students with awards up to $5,645 for the 2013- 2014 academic year.
• Federal Supplemental Educational Opportunity Grants (FSEOG) provides needy undergraduate students with awards generally ranging from $100 to $1,300. Funding priority is given to Pell Grant recipients.

Federal Loans

Federal Perkins Loan Program is available to both undergraduate and graduate students

• Must complete Master Promissory Note
• Students must have financial need to borrow from this program.
• 5 % interest rate
• Repayment begins nine months after student ceases half-time enrollment.
• Average annual loan $500 to $1,300
• Federal Direct Subsidized & Unsubsidized Loans (William D Ford Direct Student Loans)
  • • Must complete Student Loan Entrance Counseling.
    • Must sign a Master Promissory note. (Use your FAFSA pin to sign)
    • Eligibility is based on cost of attendance less other financial aid and family contribution.
    • Annual borrowing limits:
      o Dependent Undergraduate students:
      Freshmen $5,500 No more than $3,500 can be Subsidized.
      Sophomores $6,500 No more than $4,500 can be Subsidized.
      Juniors/Seniors $7,500 No more than $5,500 can be Subsidized.
      o Independent Undergraduate students:
      Freshmen $9,500 No more than $3,500 can be Subsidized
      Sophomores $10,500 No more than $4,500 can be Subsidized.
      Juniors/Seniors $12,500 No more than $5,500 can be Subsidized.
    • Interest rates for new borrowers 4.5% Subsidized & 6.8% Unsubsidized
    • There are repayment plans designed to meet the needs of almost every borrower.
    • No payments of principal are required while enrolled at least half time on Subsidized and Unsubsidized Direct Loans, but interest accrues while enrolled for Unsubsidized Direct Loans. Students can choose to pay the interest while they are in school or have the interest added to their principal.

    Federal Direct Parent Loan for Undergraduate Students (PLUS)

    • The PLUS program allows one parent of a dependent student to borrow funds. Parents can borrow up to the cost of attendance less financial aid.
    • Interest rate is fixed at 7.9 percent.
    • Net Origination fee of 2.5% (4% fee with a 1/5% rebate if first 12 monthy payments are made on time.
    • Must complete Parent Loan Request Form and return to Lyndon
    • Must complete Master Promissory Note (Use your FAFSA pin to sign)
    • A credit check is required to borrow from this loan program.
    • Repayment begins 60 days after the second disbursement.
    • Parents may choose to defer payments until six months after the date the student ceases to be enrolled at least half time or may pay accruing interest monthly or quarterly, or allow interest to be capitalized quarterly. To request an in-school deferment (after the first disbursement) you may contact Direct Loan Borrower Services at 800-848-0979.
    • There are three repayment options: Standard Repayment, Graduated Repayment and Extended Repayment Plan.
    • Parents are given a choice of repayment plans prior to their first payment.
    • Repayment periods range from 10 to 30 years depending on repayment option selected.

  Access your prior federal loan history on the National Student Loan Data System website.

  Alternative or Private Educational Loans
  You should always use any federal loan eligibility available to you before borrowing a alternative/private education loan.

  Alternative or Private education student loans are consumer loans made to studentss to help pay for college. They are provided by for-profit and nonprofit lending organizations and are not backed by the federal government. Lenders offer private education loans with different rates, fees, repayment terms and approval requirements. We suggest that you carefully review each private education loan program to compare the terms and conditions before deciding which loan may be appropriate for your needs.

  Most programs allow borrowers to delay payments during school and offer hardship deferments during repayment. These options often increase the total amount you will pay, because interest charges will accrue during deferment periods. Most private education student loans require a cosigner (a person who promises to become legally responsible to pay your debt if you fail to do so). If you are considering a variable rate loan, understand that rate changes may not be in your favor and could result in an increased monthly payment.

  Lyndon has not reviewed the loan programs for lenders offering alternative or private education loans. If you live or attend college in the following states, be sure to review this information about your state’s private loan program: Alaska, Connecticut, Maine, Massachusetts, Minnesota, New Jersey, New York, North Carolina, North Dakota, Rhode Island, Texas and Vermont. You can also use web based comparison tools to look at different options. Because Lyndon does not keep a suggested lender list for Private Education Loans we do not recommend one lender over another. There are a number of third parties that provide lists and comparisons of private loan products. Student Lending Analytics is one such company and provides information as well as tools that may help you choose a private loan lender.

  Student Lending Analytics ( An independent research group)