Skip To Content

Search
You are here:  Financial > Policies

Code of Conduct

LACKAWANNA COLLEGE

STUDENT LENDING

CODE OF CONDUCT

 

Lackawanna College is committed to providing students and their families with the best information and processing alternatives available regarding student borrowing. In support of this and in an effort to rule out any perceived or actual conflict of interest between Lackawanna College officers, employees or agents and education loan lenders, Lackawanna College has adopted the following:

 

·         Lackawanna College does not participate in any revenue-sharing arrangements with any lender.

·         Lackawanna College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any gifts of greater than a nominal value from any lender, guarantor or servicer.

·         Lackawanna College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any fee, payment or other financial benefit (including a stock purchase option) from a lender or affiliate of a lender as compensation for any type of consulting arrangement or contract to provide services to a lender or on behalf of a lender relating to education loans.

·         Lackawanna College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any thing of value from a lender, guarantor, or group of lenders and/or guarantors in exchange for service on an advisory board, commission or other group established by such a lender, guarantor group of lenders and/or guarantors. Lackawanna College does allow for the reasonable reimbursement of expenses associated with participation in such boards, commissions or groups by lenders, guarantors, or groups of lenders and/or guarantors.

·         Lackawanna College does not assign a lender to any first-time borrower through financial aid packaging or any other means.

·         Lackawanna College recognizes that a borrower has the right to choose any lender from which to borrow to finance his/her education. Lackawanna College will not refuse to certify or otherwise deny or delay certification of a loan based on the borrower’s selection of a lender and/or guarantor.

·         Lackawanna College will not request or accept any offer of funds to be used for private education loans to students from any lender in exchange for providing the lender with a specified number or volume of Title IV loans, or a preferred lender arrangement for Title IV loans.

·         Lackawanna College will not request or accept any assistance with call center or financial aid office staffing.

 

Refund/Return Policy

LACKAWANNA COLLEGE

REFUND/RETURN POLICY

 

Students who withdraw from LC will be entitled to an adjustment of tuition charges according to the refund policy described below.

 

In accordance with Federal regulations, those students who receive Federal Financial Aid and who withdraw from LC during the first 60% of a semester, will have their Federal Financial Aid adjusted based on the percent of the semester completed prior to withdrawal. That is, students will be entitled to retain the same percent of Federal Financial Aid received as the percent of the semester completed. This percent is calculated by dividing the number of days in the semester into the number of days prior to the withdrawal. Students who do not follow the official withdrawal procedure but who stop attending classes will be considered to have withdrawn at the 50% point of the semester unless attendance is documented after that time. There will be no adjustment to Federal Financial Aid after completion of at least 60% of the semester.

 

This policy applies to all Federal Financial Aid except college work-study. It includes Pell Grants, ACG grants, Supplemental Educational Opportunity Grants (SEOG), Perkins Loans, Subsidized and Unsubsidized Federal Direct Stafford Loans and Federal Direct Plus Loans.

 

When the amount of the Federal Funds to be returned has been calculated, the funds will be returned in the following order:

 

Unsubsidized Federal Direct Stafford Loans

Subsidized Federal Direct Stafford Loans

Perkins Loans

Federal Direct Plus Loans

Pell Grants

ACG (Academic Competitiveness) Grant

 Supplemental Educational Opportunity Grants (SEOG)

 

Please note that students WHO RECEIVE A REFUND OF FINANCIAL AID PRIOR TO WITHDRAWING MAY OWE A REPAYMENT OF THOSE FUNDS. Students will be contacted by the Financial Aid Office in such situations and will be given 30 days to repay the funds to Lackawanna College. Students who fail to return the unearned portion of Federal Financial Aid funds given to them will become ineligible for continued receipt of Financial Aid until such time as the repayment is made.

 

LACKAWANNA COLLEGE REFUND POLICY

 

Fall and Spring semesters

(Day, Evening, and Online Classes)

  • Until the end of the first week of scheduled classes: 100%
  • Until the end of the second week of scheduled classes: 50%
  • After the second week of scheduled classes: No refund

Summer Sessions and Intersession

(Day, Evening, and Online Classes)

  • Prior to the start of scheduled classes: 100%
  • After the start of scheduled classes: No refund

Rooms in the student residence halls are rented for the semester and there is no refund of room charges in case of withdrawal after classes have commenced. Refunds of meal plans is determined on a pro-rata basis throughout the semester.

With the exception of tuition and meal plan, no refund is made on any other fees after classes have commenced.

 

Terms and Conditions

In accepting the award package offered, you indicate that you understand and agree to abide by the following terms and conditions:

  •  The FAFSA is required for all federal, Pennsylvania State grant, scholarship and Lackawanna College aid programs. Eligibility for need-based programs is determined using the information supplied on the FAFSA and, if selected, through the verification process.  In addition, award amounts are also influenced by your choice of enrollment and housing. 
  •  Financial Aid packages are developed after first determining the Expected Family Contribution (EFC). Financial need (your financial aid eligibility) is calculated by subtracting the Expected Family Contribution (EFC) from the Student Cost of Attendance budget. Educational costs include all expenses a student may incur and consist of tuition, fees, living expenses, books, transportation and personal expenses.
  • The types of aid awarded will vary with the individual student’s need and may consist of a combination of grant, loan, work, and scholarship assistance. 
  • All students must maintain satisfactory academic progress in order to remain eligible for financial aid. Aid may be cancelled due to lack of progress or maximum semesters of aid. Please review the Lackawanna College Financial Aid Academic Progress Policy on the other side. 
  •  A student will lose Financial Aid Title IV eligibility if a student is convicted of a state or federal offense involving the possession or sale of an illegal drug that occurred while the student was enrolled in school and receiving Title IV aid. 
  • All forms of need-based aid must be reapplied for annually. Renewal of awards will be based on continued eligibility.
  •  Receipt of outside awards must be reported to the Financial Aid Office. Adjustments may be made to the student’s award package. 
  •  Financial Aid recipients who plan to withdraw or who change their enrollment status must notify the Financial Aid Office. Your financial aid package will be reviewed and adjustments may be required.  
  • The amount of aid awarded will be divided equally between the fall and spring semesters, unless otherwise indicated. Financial aid awards are generally disbursed to a student’s account 30 days into the semester for which the award applies. 
  • Federal Direct Stafford Loan and Federal Direct PLUS Loan recipients must be enrolled on at least a half-time basis (6 credits per semester).
  • On-line credits may impact Pheaa State Grant eligibility.
  • If you are awarded Work Study funds, it is not a guarantee of funds and will not be placed on your account. It is the student’s responsibility to work the required number of hours in order to earn the money. A student is paid bi-weekly for the number of hours worked that time period.
  • Need based awards are subject to change as a result of verification of financial information. 
  • Failure to provide all requested documentation will result in cancellation of the aid awarded. 
  • The college holds in strict confidence all family financial information and considers any financial aid package to be a confidential matter between the college and the student. 
You have the right to request a professional judgment review of unusual circumstances that may affect the family’s ability to pay. The decision of the college will be final.