Financing Your Student's Education
Alternative Funding

Alternative Funding

Navigating the cost of education is an important part of ensuring your student’s success. At LUOA, we understand that every family’s financial situation is unique. That’s why we accept a range of alternative funding options designed to make a quality, Christian education accessible for your family.

529 Pre-Paid Plans

The 529 Prepaid Savings Plan offers families valuable tax benefits through their state, helping them financially prepare for their children’s college expenses. In many cases, funds from a 529 Prepaid plan can also be used for K-12 education and dual enrollment courses, depending on the specific plan. To determine eligibility and explore how your 529 funds can be applied, parents are encouraged to contact their plan provider directly.

There are 2 ways that families can apply the 529 Savings Plan:

Method 1
Method 2
  1. Parents contact 529 provider directly and requests to have a check sent to the Cashier’s Office:
    • Cashiering & Treasury Services P.O. Box 10425 Lynchburg, VA 24506
  2. Once the cashier received the payment it will be applied to the student’s account within 3-5 business
  3. Once applied to the student’s account, the parent/guardian will be able to complete FCI

Note: Some 529 providers may take several weeks to send a check

  1. Parents will submit the following to the LUOA Student Accounts Office at LUOAstudentaccounts@liberty.edu.
    • Documentation dated within the last 120 days, confirming 529 Account in the form of an account summary (Social Security Number can be blacked out). This should show the 529 provider information and the amount of funds in the account.
    • Student beneficiary information. Please include their name, date of birth, and Liberty Student ID number.
    • The amount you wish to pay from the 529 account towards tuition at LUOA.
  2. The LUOA Student Accounts Office will review the information to ensure that it is complete. They will then send information to the Financial Aid Office.
  3. The Financial Aid Office applies “good faith” credit on the student’s account to allow time for the 529 provider to send the requested funds.
  4. Parents can complete Financial Check-In for as little as $0 with this credit if they choose to pay the full balance.
  5. Parent responsible to request check from 529 provider sent to Cashier’s Office:
    • Cashiering & Treasury Services PO Box 10425 Lynchburg, VA 24506
  6. Once the check is received, the Cashier will send to Financial Aid to apply actual funds to the account within 3-5 business days.

Note: Financial Aid will review the account after 30 days. If funds have not yet been received from 529 provider, the projection of the funds will be removed and the account will be put on hold. The student will not be able to access coursework.


ClassWallet

LUOA accepts ClassWallet as payment for educational expenses for the Arizona Empowerment Scholarship Account (ESA) program and the New Hampshire Education Freedom Accounts (EFA) program! ClassWallet allows eligible Arizona and New Hampshire families to use the ESA and EFA programs to pay for educational resources, including nonpublic online learning programs.

Arizona

The ESA program is administered by the Arizona Department of Education and provides qualified students in Arizona with resources for educational options. For more information, please visit the Arizona Department of Education’s ESA program website.

How to Apply ESA Funds to Your LUOA Account

If you are utilizing an Arizona ESA ClassWallet account, please complete one of the following methods to maximize the use of the funding available to you.

Please note: Arizona ESA funds requested and processed through ClassWallet are subject to a 2.5% transaction fee. The remaining 97.5% of the requested funds will be sent to LUOA and posted to the student’s account. For example, if the amount the parent requests is $1,000, then 2.5% ($25) will be withheld as a transaction fee, and the remaining 97.5% ($975) will be sent to LUOA. The parent will be responsible for any remaining charges left on the LUOA account.

Method 1
Method 2
  1. Access your Arizona ESA ClassWallet account and request payment of funds to LUOA under ‘Pay Vendor.’
  2. ClassWallet will send a check to LUOA. Funds will be applied to the student’s account within 3-5 business days after LUOA receives the payment.
  3. You can complete Financial Check-In once the funds have been applied to the account.
  1. Submit the following to the LUOA Student Accounts Office at LUOAstudentaccounts@liberty.edu:
    • A screenshot of your ClassWallet account showing the current balance of funds available.
    • Student beneficiary information. Please include their name, date of birth, and Liberty Student ID number.
    • The amount you wish to pay from the Arizona ESA ClassWallet account.
  2. We will review the information to ensure that it is complete, then apply “good faith” credit on the student’s account to allow time for ClassWallet to send the requested funds.*
  3. You can then complete Financial Check-In for as little as 2.5% of the remaining balance on the LUOA account, depending on the funds available through ClassWallet.
  4. You are responsible to request payment of funds to LUOA from ClassWallet by selecting ‘Pay Vendor’ in your ClassWallet account and submitting a copy of your LUOA invoice. We will provide you with the invoice during the applicable invoicing period (after the semester starts).
    • An itemized receipt may be sufficient instead of an invoice if you are attempting to request funds prior to the LUOA invoicing period. Itemized receipts can be requested from the LUOA Student Accounts Office at LUOAstudentaccounts@liberty.edu.
  5. ClassWallet will send a check to LUOA. Funds will be applied to the student’s account within 3-5 business days after LUOA receives the payment.

*LUOA will review the account after 30 days. If funds have not yet been received from ClassWallet, the projection of the funds will be removed, and the account will be put on hold. The student will not be able to access coursework.

If you have any questions, please contact LUOA Student Accounts at LUOAstudentaccounts@liberty.edu.

New Hampshire

The Education Freedom Accounts program was created by the State of New Hampshire to help expand educational opportunities for New Hampshire children. Eligible New Hampshire families earning up to 350% of the poverty line can direct part of their child’s state education funding to pay for tuition at the school of their choice, tutoring, online learning programs, educational supplies, and other educational expenses.

The New Hampshire Freedom Account main page provides additional information for parents and providers.

How to Apply EFA Funds to Your LUOA Account

If you are utilizing a New Hampshire EFA ClassWallet account, please complete one of the following methods to maximize the use of the funding available to you.

FA will only package 100% of the charges (depending on the funds available through ClassWallet), but will invoice for 100% of the charges. CSF pays the cost of this fee directly from the administrative portion of an EFA grant so there is NO cost to the providers and no additional cost to families.

Method 1
Method 2
  1. Parents utilize the New Hampshire EFA account directly to request payment to be sent to our institution. Documentation such as an itemized receipt may be required to submit when requesting payment, which is available through Student Accounts.
  2. Once the cashier received the payment it will be applied to the student’s account within 3-5 business days.
  3. Once applied to the student’s account, the parent/guardian will be able to complete FCI.
  1. Parent/Guardian will contact Student Accounts (LUOAstudentaccounts@liberty.edu) and provide the following information:
    • A screenshot of the parent’s ClassWallet account showing the current balance of funds available
    • Students information
  2. Student Accounts sends information to Financial Aid (FA)
  3. FA applies “good faith” credit to student’s account
  4. FA will follow up after the end of the academic year if funds are not sent & remove the projection and an AF hold will be placed on the student’s account
  5. Parents will be able to complete FCI without a payment on file
    • FA will provide an invoice to the student during the applicable invoicing periods upon request
  6. An itemized receipt may be sufficient instead of an invoice to submit through the ClassWallet portal by the parent if attempting to request funds prior to invoicing period, must be requested from Student Accounts
  7. The parent is responsible to request payment from ClassWallet through their portal access, under ‘Pay Vendor’
  8. Once the cashier’s office receives the payment, the funds will be applied to the student’s account within 3-5 business days

If you have any questions, please contact LUOA Student Accounts at LUOAstudentaccounts@liberty.edu.

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