Financial Aid

Student Consumer Information

 FINANCIAL AID OFFICE MISSION: The Mission of the Financial Aid Office is to assist students in obtaining financial aid for their college education while complying with all federal, state and institutional regulations, and by offering optimal customer service to students, parents, staff and outside agencies.

WHAT IS FINANCIAL AID? Financial aid consists of funding provided through federal and state governments and institutional sources to help cover educational expenses. This funding consists of grants and scholarships that do not have to be paid back to the provider and loans that have a variety of repayment options.

CONSUMER INFORMATION: Liberty University, as permitted by federal regulation, now uses electronic means to disseminate required student consumer and “Right-To-Know” Act information. Anyone signing or processing financial aid forms, seeking financial aid information or assistance, or seeking consumer information at Liberty University must read, understand, and comply with the requirements disclosed which are available 24 hours a day at www.liberty.edu/financialaid.

By the rules and regulations set forth from the government in the Federal Student Aid Handbook, Volume 5, Chapter 2, pages 5-97, federal regulation 34CFR 668.22(i) states:

A school must return Title IV funds to the programs from which the student received aid during the payment period or period of enrollment as applicable, in the following order, up to the net amount disbursed from each source:

• Unsubsidized Federal Student loans
• Subsidized Federal Student loans
• Unsubsidized Direct Student loans (other than PLUS loans)
• Subsidized Direct Student loans
• Federal Perkins loans
• Federal PLUS loans
• Direct PLUS loans
• Federal Pell Grants for which a return of funds is required
• Academic Competitiveness Grants for which a return of funds is required
• National Smart Grants for which a return of funds is required
• Federal Supplemental Educational Opportunity Grants
• (FSEOG) for which a return of funds is required

LENDING STATEMENT: Liberty University does not recommend specific student loan lenders.  Students may borrow from any lender that offers educational student loans. Liberty University encourages students to borrow only what is absolutely needed to prevent future debt.

LISTING OF INFORMATION REQUIRED TO BE DISCLOSED UNDER THE STUDENT

RIGHT-TO-KNOW ACT (as amended October 1, 1998)

General and financial aid information on:

• Need-based and non-need-based financial aid available to students (includes federal, state, local, institutional, etc).
• Applying for financial aid
• Distribution of financial aid to student by the college
• Disbursement of financial aid
• Terms and conditions of any employment
• Terms of, schedules for, and necessity of loan repayment and required loan exit counseling
• Criteria for measuring satisfactory academic progress, ramifications of failure to meet standards, and reinstatement of aid
• Information on the prevention of drug and alcohol abuse
• Information on financial aid for study abroad programs

General Information about the school:

• Names of school associations and governmental bodies that accredit, approve, or license Liberty University
• Special facilities and services available to disabled students
• Cost of attending Liberty University
• Refund and withdrawal policies
• Degree programs, training, and other activities
• Availability of a GED program (if applicable)
• Facilities, laboratories associated with academic programs
• List of faculty and other instructional personnel
• Contact information for financial or general questions
• Job placement rate data (if applicable)
• Voter registration

Campus security information on:

• Information related to preventing Violence Against Women on Campus (see the Campus Crime Report)
• Campus crime report distribution
• Timely warning and listing of crime occurrences by category
• Campus security contact and authority information
• Procedures for reporting crimes
• Types and frequency of training programs for students/employees in crime prevention
• Monitoring and recording policies of crimes with (for example) local police agencies
• Policies regarding the possession, use, and sale of alcoholic beverages, drugs, etc.
• Description of drug and alcohol-based educational programs
• Information on the sexual assault prevention program
• The Campus Security Report is reevaluated annually by the Student Life Office and submitted annually to the U.S. Department of Education.

Student Right-To-Know Act:

• Program completion and transfer-out rates
• Family Educational Rights and Privacy Act
• Equity in Athletics Disclosure Act
• Athletically-related financial aid information
• Loan counseling
• Drug and alcohol abuse prevention information and materials
• College Navigator
• Athlete Notification Packet for Official Visit

Drug-related Convictions and Student Ineligibility:

Regulation effective July 1, 2000: Students who have been convicted under federal or state law for possession or sale of a controlled substance will be suspended from Title IV [financial aid] eligibility, regardless of when the conviction occurred.
 

If a student is convicted of an offense involving the possession of an illegal substance, the ineligibility period is:    

First Offense = 1 year from date of conviction

Second Offense = 2 years from date of conviction

Third Offense = Indefinite period

If the student is convicted of an offense involving the sale of an illegal substance, the ineligibility period is:                        

First Offense = 2 years from date of conviction

Second Offense = Indefinite period

A student may regain eligibility by successfully completing a drug rehabilitation program that complies with criteria established by the U.S. Department of Education.

A qualified drug rehabilitation program must include at least two unannounced drug tests and must satisfy at least one of the following requirements:

• Be qualified to receive funds directly or indirectly from a fed­eral, state, or local government program.
• Be qualified to receive payment directly or indirectly from a fed­erally or state-licensed insurance company.
• Be administered or recognized by a federal, state, or local gov­ernment agency or court.
• Be administered or recognized by a federally or state-licensed hospital, health clinic, or medical doctor.

The period of ineligibility begins as of the date of the conviction. A conviction is defined as a conviction that is on a student’s record at the time the student’s eligibility is being determined. A conviction that was reversed, set aside, or removed from the student’s record is not relevant.

An illegal drug is a controlled substance as defined by section 102(6) of the Controlled Substances Act [21 U.S.C. 801(6)] and does not include alcohol or tobacco. Students may obtain additional information on eligibility by contacting the U.S. Department of Education at 1-800-433-3243 or go to http://www.fafsa.ed.gov.

LOCATING FREE STUDENT CONSUMER INFORMATION

 Many publications on campus provide necessary consumer information for student use as required by the federal government. The following is a list of those publications: 

• Federal Financial Aid Handbook
• Federal Funding Your Education Guide
• Liberty University Admissions Application
• Liberty University Bill
• Liberty University College, Graduate, Law, Seminary Catalogs
• Liberty University College, Graduate, Law, Seminary Viewbooks
• Liberty University Faculty and Staff Employment Handbooks
• Liberty University Financial Aid Notice of Award
• Liberty University Resident Financial Aid Brochure
• Liberty University Student Aid Guide – Liberty University Online
• Liberty University Student Aid Guide – Resident
• Liberty University Student Life Handbooks and Policy Information Statistics Act
• The Jeanne Clery Disclosure of Campus Security Policy and Campus Crime
• The Student Right-to-Know and Campus Security Act Report
• Website: http://www.fafsa.ed.gov
• Website: http://www.liberty.edu
• Website: http://www.luonline.com
• Website: http://www.pin.ed.gov
   

AVERAGE INDEBTEDNESS: As of May 2007, Liberty students, at the time of graduation, borrow an average of $21,171 of loans through all student loan programs. Using an estimated 7-percent interest rate over a 10-year repayment period, that student would make payments of $246 per month.

2012-2013 Financial Aid Award Notification --- Terms and Conditions Concerning Your Financial Aid

Our goal in the Liberty Financial Aid Office is to help you secure assistance to help cover as much of your educational expenses as possible. Anyone seeking financial aid information or assistance, or consumer information at Liberty University must read and comply with the requirements and information disclosed at: www.liberty.edu/financialaid.

All Resident Student institutional aid is dependent upon completion of the FAFSA (Free Application for Federal Student Aid) and Verification (if selected). Failure to complete these items will eliminate institutional scholarships. (This does not apply to international students who will be on F-1 or another non-immigrant status).

1. The listed financial aid awards are estimates only. Some reasons that cause award changes include:

• Changing grade level, program of study, credits that you are currently attempting, or housing.
• Receiving additional monies from sources not listed on your Financial Aid Notification letter (i.e. State Grants, private scholarships, Direct-To-Consumer Loans, vocational rehabilitation, etc.).
• Adjustments made because of inaccurate, incomplete or conflicting information.
   

2. The estimated awards listed on this letter (based on anticipated housing status) are calculated based on the assumption that students will be enrolled as follows:
 

• Resident Undergraduate and Law: Half-Time or greater, Fall/Spring
• LU Online and Graduate (non-Law): Half-Time or greater, Fall/Spring/Summer

3. General Scholarship Rule (GSR): The combined total of federal/state grants with Liberty institutional aid may not exceed the actual cost of tuition plus the lowest of actual Liberty University room and board charges or the lowest current housing rate. For Resident students, this calculation does not include the Federal Pell Grant. If aid exceeds this calculated amount, Liberty institutional aid will be reduced.

For recipients of institutional aid (and discounts) like Continuing Education and Dependent Grant-In-Aid, and various others such as Resident FCA/LCA/Temple/TCS, who qualify for federal or state grants, the tuition scholarship will be reduced by these federal and state grant amounts.

All institutional aid must comply with University policy and is subject to terms and conditions. Institutional amounts and statements may be changed at the University's discretion.

4. Any financial aid (such as grants, scholarships, or loans) not listed on this award notification must be immediately reported to the Financial Aid Office and may change existing financial aid eligibility.

5. To receive financial aid, all students must maintain the minimum standards of Financial Aid Satisfactory Academic Progress. These standards are published on-line at http://www.liberty.edu/financialaid.

6. To receive a Federal Direct Stafford Loan, including loans that may be shown as a credit for Financial Check-In, you must have a valid Master Promissory Note (MPN) and an Entrance Interview on file. These requirements may be fulfilled on-line at www.liberty.edu/direct. Students awarded Federal Direct Stafford Loans must be enrolled AND ATTENDING on at least a half-time basis before funds will disburse to the student’s account.

7. For determining award eligibility and disbursements, Liberty University uses the Summer term as a trailer at the end of the Spring term. As applicable, awards will be processed and paid beginning with the Fall term and concluding with the Summer term.

8. Students who may have a credit balance because of a Federal Pell Grant payment have the option of using a book voucher to purchase books ahead of time.

9. Liberty University Online promotional awards require specific eligibility criteria in order to receive the promoted award.  All Liberty Advantage 15% Discount promotions require students to be degree-seeking, enroll at least half-time for their program, maintain Financial Aid Satisfactory Academic Progress, and not break enrollment.  Students receiving the discount through a corporation that are required to complete the Discount Verification Form must do so annually.  The Liberty Advantage 15% discount cannot be combined with the Military Tuition Discount.  The Liberty Advantage 15% discount only applies towards the cost of tuition and will not exceed the cost of tuition.  For example, if a student is receiving the Federal Pell Grant and it covers the full cost of tuition, they are not eligible for the Liberty Advantage 15% discount.  Liberty University Online Book Dollar Promotions require students to enroll at least half-time and be a degree-seeking student.  Other event based promotions such as the College For a Weekend Pastor $1,000 tuition only award and Fresh Start $1,000 tuition only award requires students to maintain Financial Aid Satisfactory Academic Progress, enroll at least half-time, and be a degree-seeking student. 

10. ESTIMATED Disbursement Dates: Some financial aid will be disbursed based on actual attendance, not on registration. For more information go to www.liberty.edu/financialaid and click on “How Disbursements Work."

2012-2013

2013-2014

11. This notice replaces any previously issued Financial Aid Award Notification letters.