2 Bill Payment Students are billed for each semester. Your Fall bill will be uploaded and available to view online in early July. Lycoming College does not mail paper statements. For more information regarding billing statements and due dates, visit the Business Office website. When returning your payment to the College, you may indicate any aid which is pending, including Federal Stafford loans, PLUS loans and private scholarships that have not yet been deducted from your charges. Fall semester bills are due the first week of August. Spring semester bills are due mid-December. Disbursement of Aid One-half of each scholarship, grant and loan will be credited to your account each semester. The Financial Aid Office will credit your account no earlier than the end of the add/drop period, or once your financial aid file is complete. If your Stafford Loan is approved for a full academic year, your loan funds will be disbursed in two equal disbursements—one-half will be disbursed in the fall semester, and the second half will be disbursed in the spring semester. Typically, disbursements will be made within four (4) weeks after the start of each semester, but no earlier than the end of the drop/add period. Disbursements will not occur unless your file is complete. Your Aid Offer At the time your application was evaluated, you were considered for all types of assistance, including scholarships, grants, loans and student employment. The Financial Aid Office determined your eligibility for each type of aid and assigned a combination of assistance in accordance with your eligibility. The specific components of your aid notification are dependent upon the availability of funds and your demonstrated financial need. Lycoming College reserves the right to review, modify or cancel your financial aid components at any time on the basis of information affecting your eligibility. This may include, but is not limited to, changes in your financial or academic status, or changes in the availability of federal, state or institutional funds. Your total amount of assistance from all sources may not exceed your cost of attendance. The Financial Aid Office will determine your cost of attendance. Financial Need Students must demonstrate “financial need” to qualify for assistance from “need-based” programs. Students do not necessarily have to be from a low-income family. “Need” is the difference between the cost of attending Lycoming College and what the student and/or family can contribute as calculated by a financial aid formula that is approved by the U.S. Department of Education.
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