Lycoming College Financial Matters

Expenses for the Academic Year 2006-2007

The following expenses are effective for the regular fall and spring semesters. The College reserves the right to adjust fees at any time. The fees for each semester are payable approximately two weeks prior to the start of classes for the semester as indicated on the semester bill

Fees	Per Semester	Per Year
Tuition	$12,560.00	$25,120.00
Room Rent	$1,745.00	$3,490.00
Board	$1,668.00	$3,336.00
Total	$15,973.00	$31,946.00

 

One-Time Student Fees

Application Fee.............................. $35

Confirmation/Contingency Deposit ..$200

Room Reservation Deposit............. $100

Freshman Fee.............................. $200

Application Fee...............................$35

Each Unit Course...................... $3,140

Additional Charges

Non-refundable Enrollment Deposit for

Returning Students....................... $100

Activity Fee per year..................... $125

Applied Music Fee

(half-hour per week per semester)... $300

Technology Fee

(resident students) (per semester)... $180

Cap and Gown................. prevailing cost

Laboratory Fee per Unit Course..$10 to $175

Parking Permit........................... $60/120

Practice Teaching Fee- (payable in junior year) $400

R.O.T.C. Uniform Deposit- (payable at Bucknell University) $75

Transcript Fee................................... $4*

Placement Retest Fee...................... $25

Single Room Charge ........additional charge of $698 per semester.

The tuition covers the regular course load of twelve to sixteen credits each semester excluding band, choir, theater practica and all scholars' seminars. Any credits over 16 will be charged at a rate of $785 per credit. Resident students must board at the College unless, for extraordinary reasons, authorization is extended for other eating arrangements. If a double room is used as a single room, there is an additional charge of $698 per semester. The estimated cost for books and supplies is up to $800 per year, depending on the course of study. Special session (May Term and Summer Session) charges for tuition, room, and board are established during the fall semester.

**$4 for first copy; $1 for each additional copy requested at the same time. No charge for currently enrolled full-time students. No transcripts will be issued for a student or alumnus whose financial obligation to the college has not been satisfied.

Application Fee — All students applying for admission must submit a $35 application fee. This charge defrays the cost of processing the application and is nonrefundable.

Confirmation/Contingency Deposit - All full-time students who have been notified of their admission to Lycoming College are required to make a $200 Confirmation Deposit to confirm their intention to matriculate. The Deposit is held until Graduation or upon written notification submitted to the Registrar's office at least two weeks prior to the start of each semester. Any remaining deposit balance will be refunded after all financial obligations to the College have been satisfied.

Resident students must remit an additional $100 Room Reservation Deposit. The room deposit is applied against the comprehensive fees billed for the first semester of attendance.

Both the Confirmation and Room Reservation Deposits are refundable prior to the start of the first semester of attendance if the official withdrawal date is not later than May 1.

Enrollment Deposit — A non-refundable enrollment deposit of $100 is required of all current full and part-time degree-seeking students each spring in order to pre-register for the subsequent fall semester courses and/ or to participate in the annual room selection process. This deposit is applied against the fall semester bill.

Partial Payments

For the convenience of those who find it impossible to follow the regular schedule of payments, arrangements may be made with the College Bursar for the monthly payment of College fees through various educational plans. Additional information may be obtained from the Treasurer's Office or Admissions Office.

Lycoming College Withdrawal Refund Policy

Students wishing to withdraw from the College during the semester should meet with the Assistant Dean for Freshmen or the Assistant Dean for Sophomores to ensure that student financial and academic records are properly closed. The effective date of calculating refunds shall be: the date that the student begins the withdrawal process or provides official notification to the institution of his or her intent to withdraw; the midpoint of enrollment if the student drops out without notification to the institution; or the date, as determined by the institution, that the student withdraws due to illness or accident.

Students withdrawing will receive a prorated refund for tuition, fees, room and board, less an administrative fee of $100 and any unpaid charges, according to the following schedule:

During Week 1          90%                    10%

During Week 2          80%                    20%

During Week 3          70%                    30%

During Week 4          60%                    40%

During Week 5          50%                     50%

During Week 6         40%                      60%

After 6th Week          0%                      100%

Please note that there is no refund after the sixth week of the semester. For Freshmen, the refund period will be extended into the week that early assessment grades are distributed to students and parents.

Comparative schedules apply to the May and Summer terms.

The calculated refund will be reduced by any unpaid charges. Any balance remaining will be billed to the student. Unpaid student account balances will be charged interest at the rate of 1% per month on the month end balance until the account is paid in full. Should legal collection become necessary, all costs of collection will be added to the balance due.

Lycoming College’s institutional refund policy is distinct and different from the Federal Return of Title IV Funds policy. The adjustment of institutional financial aid will follow the Withdrawal Refund Policy stated above. The College is required to perform a Return of Title IV Funds calculation for all federal financial aid recipients who withdraw (officially or unofficially) from all classes on or before the 60% attendance point of the semester. Students who are subject to the return of any Title IV funds may result in a balance due to the College, Federal Government or both. See Federal Return of Title IV Funds Policy for further explanation on the return of federal funds.

Students who drop individual course(s) during the add/drop period will receive 100% adjustment to tuition and fees. Students who drop individual courses(s) after the add/drop period will not receive any adjustment to tuition and fees.

Funds Policy

The 1998 Reauthorization of the Higher Education Act requires the college to calculate a Return of Title IV Funds on all federal financial aid recipients who withdraw (officially or unofficially) from all classes on or before the 60% attendance point of the semester. A prorata schedule is used to determine the percentage of the semester the student attended based on the withdrawal date/last date of attendance.

The student’s withdrawal date is the date the student began the withdrawal process; the date the student otherwise provided the school with official notification of the intent to withdraw; or for the student who does not begin the school’s withdrawal process or notify the school of intent to withdraw, the mid-point of the payment period of enrollment for which the Title IV assistance was disbursed (unless the institution can document a later date).

The percentage of the semester the student attended is calculated as follows:

Number of days in attendance

Number of days in semester

The number of days counted includes all calendar days in the semester including weekends and holidays, but excludes college breaks of five or more days.

The percentage of the semester the student attended is used to calculate the amount of the student’s earned versus unearned federal aid funds. The unearned portion of federal aid funds must be returned to the appropriate aid program in accordance with the Order of Return as mandated by law. The Order of Return is: Federal Unsubsidized Loan, Federal Subsidized Loan, Perkins Loan, Federal PLUS Loan, Federal Pell Grant, Federal SEOG Grant, Other Title IV Aid.

The college is responsible for returning the lesser of Unearned Title IV Aid or Unearned Institutional Charges. Unearned Institutional Charges are based on the determined percentage of the semester the student did not attend. The College is responsible for its return of funds first, followed by the student's return of funds.

The student is responsible for returning:

Amount of Unearned Title IV Aid
-    Amount of Aid School Returns     

                                                          Amount Student Returns

The College must return its portion of Unearned Title IV aid (loan and grant) to the appropriate federal program within 30 days from the student’s withdrawal date as determined by the Office of Financial Aid. If the amount the student returns includes a federal loan, the student is responsible for repayment of the loan in accordance with the terms of the loan program. If the amount the student returns includes grant aid, the student must repay 50% of the grant money received, rather than 100%.

The student must return unearned grant aid to the college within 45 days from the date of notification. Failure by the student to return or make arrangements to return unearned grant aid to the College within 45 days will result in the student being reported to the U.S. Department of Education (USDOE). The student will be considered in an Overpayment Status, and will not be eligible for additional aid at any post-secondary institution participating in Title IV Aid programs. Students who are reported to USDOE in an Overpayment Status should contact the USDOE to make payment arrangements to repay the necessary grant funds.

Examples of Federal Title IV Return of Funds calculation are available in the Office of Financial Aid. Students who stop attending Lycoming College may not receive further financial aid disbursements, may lose some or all of the aid that has already been disbursed to their account, may be responsible for repayment of unpaid charges, and may be considered in Overpayment status with USDOE.

Students who wish to rescind their official withdrawal submitted to the college must do so within one week of the original withdrawal and notification must be provided in writing to the Office of Financial Aid.

Students who stop attending all classes without officially withdrawing from the college will be subject to a Return of Funds calculation at the end of the semester, based on their last date of attendance as determined by the Office of Financial Aid.

State Grant programs have varying regulations concerning refunds, but most will require at least a partial refund of the State Grant. If the student has received a Lycoming Grant, a portion of the student’s refund also will be repaid to the Lycoming Grant program. This will reduce, or in many cases eliminate, the amount of the refund the student otherwise would receive.

Non-Payment of Fees Penalty

Students will not be registered for courses in a new semester if their accounts for previous attendance have not been settled. Diplomas, transcripts, and certifications of withdrawals in good standing are issued only when a satisfactory settlement of all financial obligations has been made in the Treasurer's Office. Final grades may also be held in some cases. Unpaid student accounts will be charged interest at the rate of 1% per month on the month-end balance until accounts are paid in full. Should legal collection become necessary, all costs of collection will be added to the balance due.

Financial Aid

Lycoming College is committed to helping students and families meet college costs. While some assistance is available to students regardless of need (merit scholarships), the primary purpose of the College’s financial aid program is to help qualified students of limited financial resources attend Lycoming College. Scholarships may be awarded on the basis of merit and/or need, while grants are provided solely on the basis of financial need. Long-term educational loans with favorable interest rates and repayment terms are available, as are part-time employment opportunities.

It is important to submit financial aid applications after January 1st, as appropriate income information becomes available, but by March 1. Although applications may be filed later, applicants can only receive consideration for remaining available funds.

To be considered for financial aid, students and families must complete the following steps for each year the student seeks assistance:

2. Fully complete and submit the Free Application For Federal Student Aid (FAFSA). Returning students should submit the Renewal FAFSA.

3. The College may request signed and dated copies of student and parent(s) Federal income tax returns (1040, 1040A, 1040EZ, 1040PC, TeleFile), including W-2 forms, be sent to the Financial Aid Office. The tax returns required are for the year preceding the academic year in which the student seeks assistance.

4. PA residents can apply for state grant assistance using the FAFSA as well. Non- PA residents should contact the State Grant Agency in their home state to see if additional forms must be filed.

Basic eligibility requirements for all federal programs are available from the Department of Education at www.studentaid.ed.gov. Students are responsible for understanding the basic eligibility requirements.

Financial aid eligibility is substantially reduced for students who are charged less than full-time tuition. Credit is earned for some courses which are offered at no charge, including choir, band, theatre practica and all scholar seminars. Therefore, these credits would not be counted in the full-time tuition calculation. For financial aid purposes, a full-time student is enrolled in 12-16 billable semester hours. A student's financial aid eligibility is finalized after the end of the college's published add/drop period.

Financial Aid Satisfactory Progress Policy

To remain eligible for federal, state, and institutional financial aid, all students must maintain financial aid satisfactory progress as defined below. The financial aid satisfactory progress policy is separate and distinct from the College’s academic progress policy

Students retain eligibility for financial aid for ten (10) semesters of full-time study. However, it is the College’s practice to limit institutional grants/scholarships to eight (8) semesters of full-time study. Should students attend beyond eight semesters of full-time study, they may still be eligible for federal and/or state aid for the 9th or 10th semester.

In some instances a student may appeal academic suspension and be permitted to continue enrollment even though the student has fallen behind in credit hours or cumulative GPA (see Academic Levels and Academic Standing sections on page 30). A student who is granted an academic appeal may continue to receive financial assistance only if the student meets the minimum qualitative (GPA) and quantitative (credits completed) requirements listed below.

0-16                                       1.85                             75% attempted credits

17-32                                     1.95                             75% attempted credits

33+                                        2.00                            75% attempted credits

Treatment of W, I, X, P & F Grades and Repeated Coursework

2. Incomplete (I) grades are not included in the GPA calculation but are considered a non-completion of attempted coursework until the incomplete grade is replaced with a permanent grade and academic progress can be reevaluated.

3. An audit (X) grade is not considered attempted coursework. It is not included in the   GPA  calculation or completion rate determination.

4. A satisfactory (P) grade is treated as attempted credits earned, but it is not included in the GPA calculation unless the student has designated a minimum acceptance letter grade.

5. A failing grade (F) is treated as attempted credits not earned, it will be included in the calculation of the GPA and the minimum completion rate.

6. The most recent course grade for a repeated course will be included in the calculation of the GPA and every repeated attempt will be included in the completion rate determination.

Students who fail to successfully complete the minimum number of credits and/or who fail to meet the minimum cumulative GPA requirement will be placed on financial aid probation. This allows one additional semester of course work to bring the academic record up to minimum standards. Failure to meet the stated minimum after the probation period will result in a suspension of all (federal, state, and institutional) financial aid until the standards are met.

Financial aid satisfactory progress is measured annually and cumulatively by the Financial Aid Office. Official notification of probation or suspension is made by the Financial Aid Office.

Reinstatement of Aid After Financial Aid Suspension

Reinstatement of financial aid after a student is placed on Suspension is achieved as follows:

1. The student submits a written letter of appeal in accordance with the appeals process and the Financial Aid Appeals Committee grants the appeal. The student is placed on Financial Aid Probation for the semester rather than on Suspension; or

2. The student attends Lycoming College during the Suspension semester, pays for tuition and fees without the help of student aid, and does well enough in the coursework to satisfy all the satisfactory academic progress standards. The student must notify the Financial Aid Office if they are planning on attending Lycoming College without the assistance of financial aid; or

3. The student may attend summer school to eliminate the deficiency in credits and/or GPA. The student must notify the Financial Aid Office if they are planning on taking classes during the summer to eliminate the deficiency.

Students who have been placed on Suspension cannot skip a semester and regain eligibility. No financial aid will be disbursed during subsequent semesters for students on Suspension. If the student fails to attain the minimum standards after the second semester of probation, eligibility for financial assistance will be cancelled automatically.

Appeal Process

Appeals of Financial Aid Suspension must be made in writing to the Director of Financial Aid by the date specified in the Suspension notification letter. The Financial Aid Appeals Committee will review the appeal and notify the student in writing within 5 working days of their decision. All decisions made by the Financial Aid Appeals Committee are final and not subject to further review.

The appeal letter must address the extenuating circumstance(s) why satisfactory academic progress was not made, why the extenuating circumstance(s) has changed, as well as an outlined plan for future academic success. Extenuating circumstances can include, but are not limited to, illness or injury; death of a family member; family difficulties; interpersonal problems with friends, roommate, significant others; difficulty balancing work, athletics, family responsibility; or financial difficulties.

Acceptance of an appeal is only valid for determining eligibility for financial assistance and has absolutely no bearing on any determination made by the Registrar and/or the Committee on Academic Standards

NOTE: Lycoming Scholarships and Grants are awarded to eligible students who are full-time and degree-seeking. Students already possessing a bachelor’s degree are ineligible for scholarships, grants and institutional loans.

Lycoming Grants may be awarded to students to help meet their documented financial need. Renewal requires continued financial need as determined by Federal Methodology and/or the financial aid director.

Ministerial Grants are awarded to dependent children of United Methodist ministers and ordained ministers of other denominations. This grant amounts to 33% of tuition for children of United Methodist ministers in the Central Pennsylvania Conference and 25% of tuition for all others. Students meeting the criteria for this grant and any other Lycoming Scholarship(s) will be awarded the scholarship(s)/grant that provides the highest dollar amount; both will not be awarded.