Financial Aid

Click on a link to be taken to the entry below.

We consider financial aid an investment in the future of our students. Our primary goal is to provide assistance to those who might not otherwise be able to earn a degree. Please be aware, however, that we assume students and their families will contribute to the costs of education according to their means. Financial assistance is offered only after it has been determined that family resources are not adequate to meet college expenses. Whenever possible, you will be expected to work or borrow to meet these expenses.

Three types of financial assistance are available: grants and scholarships, which are classified as gifts and need not be repaid; low-interest loans, which are repaid in installments after leaving college; and various campus employment opportunities. Depending upon financial need, a student may be eligible to receive one or a combination of these types of aid.

Complete a Free Application For Federal Student Aid (FAFSA) on-line between January 1 and February 15 to be considered for all types of aid. Use FAFSA code #003689 to ensure that Lyndon receives your FAFSA application.  FAFSA’s received later by Lyndon State College will be reviewed in order of the date received.  Aid is awarded subject to the availability of funds.  Promptly answer or act on requests for additional forms or information, and, if requested, submit signed copies of the applicant’s and parents’ current Federal Income Tax Form (e.g.1040, with W-2s) as soon as possible after filing.

All admissions candidates, including transfer students, must be accepted for admission before any action will be taken on financial aid applications. Returning students must be registered before any award commitment can be made. For further information, contact the Financial Aid Office.

To be eligible to receive financial aid based on financial need, a student must be enrolled in a degree program and be making satisfactory academic progress; be a U.S. citizen or a permanent resident with an I-151 or I-551, or I-551C; or have a Departure Record (I-94) from the U.S. Immigration and Naturalization Service (showing certain designations, contact Financial Aid Office for more information); not be in default on a federal loan and not owe a refund on a federal grant.

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 maintain both a qualitative (grade-based) and a quantitative (time-related) standard.  Students with disabilities may be allotted additional time for completion of courses if this is an appropriate accommodation.  To meet the qualitative standard requirement, students must maintain a 1.75 cumulative GPA for up to 30 earned credit hours and maintain a 2.0 cumulative GPA thereafter to continue to qualify for financial aid.  To meet the quantitative standard requirement, students must successfully complete 67% of the courses they attempt beginning in the student’s first year of attendance at Lyndon, and total credit hours attempted, including transfer credits, cannot exceed 150% of graduation requirements.

To measure the quantitative standard requirement, Lyndon will divide the cumulative number of credit hours the student has successfully completed by the cumulative number of credit hours the student has attempted.  Attempted credits will include those taken and then dropped after the end of the add/drop period (with grade of W).  Remedial coursework will be excluded from the calculation, but transfer credits accepted by the institution towards the student’s program are included as both attempted and completed.  Satisfactory Academic Progress (SAP) will be reviewed after the spring term of each academic year.  Failure to meet either or both the qualitative and quantitative standards will result in a suspension of the student’s financial aid eligibility.

Suspension of financial aid can be appealed.  A letter of appeal must be submitted detailing the circumstances that prohibited the student from maintaining the required standard(s).  For example, death of a relative, injury or illness of the student, or other special circumstances.  In addition, the student must meet with a member of Academic Support and develop an academic plan that will enable the student to meet the SAP standard(s) within a prescribed time frame and describe what has changed that will allow the student to make SAP.  Students will be notified via their LSC e-mail account the result of their appeal.

Students who failed to make SAP, and had an appeal approved with an academic plan in place would be considered to be on financial aid probation status.  A student on financial aid probation may receive federal aid for one payment period.  At that point, the student must meet the school’s SAP standards or the requirements of the established individual academic plan to maintain financial aid eligiblity.

Federal Supplemental Educational Opportunity Grants (FSEOG), ranging from $200 to $1,300, are available to undergraduates with exceptional financial need. Priority is given to Pell Grant recipients.

Federal Perkins Loans at low interest (five percent) are made to both undergraduate and graduate students by the college from available funds. A total of $20,000 may be borrowed by undergraduate and up to $40,000 by graduate students (including undergraduate Perkins Loans/NDSL).

Federal Work-Study provides jobs on campus for eligible undergraduate and graduate students. A limited number of jobs are available off-campus for America Reads tutors.

Federal Pell Grants for the current academic year range from $555 to $5,550, depending upon eligibility as determined by a national standard formula.Federal Stafford Loans (subsidized and unsubsidized) enable students to borrow federal loan funds. Depending on the student’s eligibility, the maximum that may be borrowed is $3,500 a year for first-year undergraduates, $4,500 for second year undergraduates, or $5,500 a year if two years of study have been completed and third-year status is achieved. Graduate students may borrow up to $8,500 per year. Additional unsubsidized eligibility for independent students is $4,000 per year for first and second year undergraduates, $5,000 per year for remaining undergraduates, or $12,000 per year for graduate students.

Federal Academic Competitiveness Grants (ACG) and the Federal National SMART Grants will not be available after the 2010-2011 Academic Year

Federal Direct Stafford Loans, from the William D. Ford Federal Direct Loan (Direct Loan) Program, are low-interest loans for eligible students to help cover their cost of education. Eligible students borrow directly from the U.S. Department of Education. A student cannot borrow more than the cost of attendance minus any financial aid, so in some cases the amount of a student’s need may limit the amount of the Federal Stafford Loan. The federal government pays the interest on the Subsidized Federal Stafford loans while students are enrolled on at least a half-time basis. The student pays the interest on the Unsubsidized Federal Stafford Loan while the student is enrolled on at least a half-time basis.

The following chart provides maximum annual and aggregate (total) loan limits for subsidized and unsubsidized Direct Stafford Loans.

Federal Direct Parent Loan for Undergraduate Students (PLUS) loans allow parent borrowers of undergraduate, dependent students to borrow federal funds up to the cost of attendance minus financial aid. The variable interest rate changes each July 1. Repayment begins within 60 days after the loan has been fully disbursed.

Veterans’ Administration Educational Benefits may be available to students who fit one of the following categories: 1) children, spouses, widows, or widowers of veterans who died or were permanently and totally disabled as the result of service in the armed forces of the U.S., 2) children of servicewomen/men missing in action or prisoners of war for more than 90 days, 3) qualified servicewomen/men in civilian life, or on active duty in the armed forces who qualify. Application should be made to the Veterans’ Administration. The Student Services Office provides information and assistance for those seeking education benefits.

Lyndon State College offers a variety of scholarships to both new and returning students. Awards are based on academic and personal achievement and are need-based or non need-based. To be considered for both need-based and non-need based scholarships, a completed Free Application for Federal Student Aid (FAFSA) is required.

Application deadlines are March 15th for new students and April 15th for returning students. Applications are available on our website at www.lyndonstate.edu by clicking on Financial Aid, then Scholarships and Grants.

Vermont Incentive Grants are awarded on the basis of financial need by the Vermont Student Assistance Corporation (VSAC). Any full or part-time undergraduate Vermont resident who plans to attend or is enrolled in an approved post-secondary institution is eligible to apply.  An on-line application is also required.

Out-of-State Incentive Grants are available to qualified students from Connecticut, Maine, Massachusetts, New Hampshire, Pennsylvania and Rhode Island. Application procedures vary and should be made directly to the Higher Education Assistance Agency from each of the states listed. Additional information is available on the FAFSA web site.

Non-institutional/outside scholarships are an excellent and frequently overlooked means of obtaining financial assistance. Local service organizations are an especially good source of scholarships.

Financial aid awards may be adjusted upon receipt of such items as family contribution, grants, outside scholarships, and loans. In order to be eligible for financial aid, such resources may not exceed the total costs of attending Lyndon.