FINANCIAL AID POLICIES
- Landmark College offers both need based and non-need based financial aid. Subject to fund availability, all students who apply and are eligible for assistance will be offered financial aid.
- To maintain eligibility for financial aid, a student must be in good standing and making satisfactory academic progress as determined by the school.
- All financial aid is awarded on a yearly basis. Students and/or parents are required to file a FAFSA each year to determine if the student qualifies for aid.
- All outside scholarships received by a student to attend Landmark College must be reported to the Financial Aid Office even if received after aid from the school has been awarded. Federal regulations require the school to consider all resources in determining a student’s total award.
- Landmark College reserves the right to review and revise all awards.
- Any funds received from the Federal Pell Grant, Federal Supplemental Education Opportunity Grant, Federal Work Study or the Federal Direct Loan programs must be used solely for expenses related to attending Landmark College.
- If a student leaves school before completing the academic year, the student may be responsible for repayment of a pro-rated amount of any financial aid payment that cannot be reasonably attributed to meeting the educational expenses related to attendance at Landmark College. The amount of such repayment is to be determined on the basis of criteria set forth by the Secretary of Education.
FEDERAL DIRECT LOAN PROGRAM
Information on all federal loan programs can be found at www.studentaid.gov
Federal Direct Stafford Subsidized/Unsubsidized Student Loans
- The difference between subsidized and unsubsidized loans is when the interest begins to accrue. For subsidized loans, the interest does not begin to accumulate until after graduation or withdrawal from the College. For Unsubsidized loans, interest begins to accumulate as soon as a disbursement is made.
- Loan funds are disbursed electronically to student accounts at the start of every academic semester. Funds are to be applied directly to tuition and fees or used for off campus living expenses.
- Students will be notified in writing within 30 days that the funds have been received by the school. Federal Direct Parent PLUS Loan
- PLUS loans are federal loans that parents of dependent undergraduate students can use to help pay college education expenses.
- The maximum PLUS loan amount that a parent can borrow is the difference between the cost of attendance and all other financial aid received (unmet need).
- Interest begins accruing immediately upon disbursement, with repayment of the loan beginning within 60 days of the final disbursement.
- Loan funds are disbursed electronically to student accounts at the start of every academic semester and are applied to tuition and fees. Any credit balance can be refunded to the borrower and used for additional educational expenses.
- Parents will be notified in writing within 30 days that the funds have been received.
FEDERAL PELL GRANTS
- The Pell Grant is considered an entitlement program. For eligible students, there is no obligation to work for or repay this grant. The maximum Pell Grant is $7,395 for the academic year.
- Federal Pell Grants are available to students pursuing a first undergraduate degree who demonstrate financial need.
- The Pell Grant amount is divided equally among the number of terms the student is enrolled for the academic year, with no more than half or a third of the annual amount to be applied to any one term. Pell Grant funds are applied directly to tuition and fees.
FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT (FSEOG)
- The FSEOG is a grant and not a loan, there is no obligation to work or repay this grant.
- Recipients of FSEOG must be pursuing a first undergraduate degree and have financial need.
- The FSEOG is awarded to students with the lowest expected family contribution as funds remain available. The annual award is $2,000.00.
- Funds from the FSEOG must be applied directly to tuition and fees. Half of the award is issued at the start of the academic year, and the second half is disbursed at the beginning of the second semester. The FSEOG is funded by the federal government and Landmark College. Funds are awarded by the college.
FEDERAL WORK STUDY
- Work-study opportunities are available in a variety of locations on campus. A student must complete the I-9 and W-4 employment forms for payroll and tax purposes before starting work.
- There is no minimum hour requirement; and academic demands should always be a student’s top priority. Students’ actual earnings are dependent upon the number of hours worked and the hourly pay rate, and so may vary from the amount awarded by the Financial Aid Office.
- Federal Work Study is funded by the federal government and Landmark College. Funds are awarded to students who demonstrate need by the College, with an average award of $1,000 for the academic year.
ESTIMATED OR ACTUAL VOCATION REHABILITATION GRANTS
- All known or estimated funds from state departments of vocational rehabilitation will be included as a source of financial assistance. The final award may vary and adjustments will be made to the total award package if necessary.
CDIT AND NON-CREDIT COURSE WORK
- Federal financial aid is based on a student’s enrollment status. Students are eligible to receive financial aid while enrolled in non-credit courses for up to one academic year.
- Students returning for a second consecutive year must be enrolled in six credits or more to continue their eligibility.
- Federal Pell Grants will be pro-rated according to the number of credit courses the student is enrolled in.
- FSEOG and Work Study are not pro-rated; the student may be enrolled in at least six credits of coursework or non-credit equivalent to be considered eligible.
- Subsidized/Unsubsidized and PLUS loan eligibility requires the student to be enrolled in at least six credits per semester or non-credit equivalent.
- Landmark Scholarships, vocational rehabilitation grants and most other private scholarships are usually not effected by the enrollment in credit or non-credit courses.