Financial Aid & Billing Kendra Feigert, Director

Transcript:Financial Aid & Billing Kendra Feigert, Director:
Financial Aid & Billing Kendra Feigert, Director of Financial Aid Jeff Petritsch, Director of Student Accounts AccessLVC -> Financial Aid Link in admissions portal with login credentials From lvc.edu -> MyLVC Steps to Finalize Your Aid Offer ‘Review and accept your awards’ - Accept, reduce, or decline federal student loans – interest rate - 5.49% BORROW FEDERAL LOAN FIRST! You must take action on the subsidized loan (interest-free) before the unsubsidized Steps to Finalize Your Aid Offer ‘Review the cost breakdown and electronically sign your aid offer letter’ – every time there is a change, the student will be prompted to review and sign. If you are borrowing federal student loans – complete Direct Loan Entrance Counseling and the Master Promissory Note at studentaid.gov Complete ASAP Other Info on Financial Aid Portal View Required Documents Read a description of each of the awards you are receiving Link to the FA Information Packet Financial Aid Info Packet Financing Options Payment Plan – 10 month – August to May Federal Parent PLUS Loan Parent is the borrower 8.05% fixed interest rate for loans disbursed on or after July 1, 2023 4.2% origination (up front) fee Private Student Loan Student is the borrower, credit-worthy cosigner required Fixed and variable rates available from banks/credit unions LVC provides a list of recommended lenders (URL below) or search “private student loans” on lvc.edu https://www.lvc.edu/admission-aid/financial-aid-costs/loans/private/ Loan Certification & Disbursement Dates We will begin to certify parent sub/unsub, PLUS, and private loans in June Federal, state, and private grants and loans will disburse to the student account with the Business Office: Fall – August 23, 2023 Spring – January 10, 2024 Only LVC grants and scholarships will show as a reduction to your charges on the Statement of Account (bill). You may reduce your balance due by the amounts of approved/pending grants and/or loans. An electronic worksheet is available to assist you Update to Meal Plan (Residents only) Due to new federal regulations, we are required to provide you with a meal plan that includes 3 meals per day – Platinum meal plan. Currently, Gold is included in the aid offer. In early June we will be updating your aid offer letter to include the platinum meal plan. You do NOT have to select this meal plan. Your bill will include the meal plan you select. There will be no change to your LVC grants and scholarships. An