Financial Aid & Billing Kendra Feigert, Director
Description: 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
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slide1. Financial Aid & Billing Kendra Feigert, Director of Financial Aid
Jeff Petritsch, Director of Student Accounts<br>
slide2. AccessLVC -> Financial Aid Link in admissions portal with login credentials
From lvc.edu -> MyLVC<br>
slide3. 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<br>
slide4. 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<br>
slide5. 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<br>
slide6. Financial Aid Info Packet<br>
slide7. 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/<br>
slide8. 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<br>
slide9. 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 email will be sent when the update to the meal plan is complete.<br>
slide10. Changes for 2024-2025 2024-25 FAFSA will not be available until December 2023
Needs analysis formula is changing significantly – expected family (EFC) contribution will become the student aid index (SAI)
Stay tuned for more details<br>
slide11. Billing Dates Semester Email Date Due Date
Fall 2023 7/5/2023 8/7/2023
Spring 2024 11/22/2023 1/5/2024
Payment is due by the date indicated on each monthly statement.
“Statements” are available online via the Student Finance Portal in AccessLVC.
Real-time on-demand student account transactions are available under “Activity Details” in the Student Finance Portal
A late charge of $200 per semester is added to the student account if payment in full (less approved financial aid) is not received by the stated due date.
Bills for incidental charges will be emailed monthly and will note specific due dates.<br>
slide12. Communication/Financial Responsibility Please communicate with each other about all aspects of the bill-paying/loan application process. Since the account is in the student’s name it is highly beneficial if the students themselves are involved!
Please be sure to do the following to ensure that your account is current:
Review the account statements that are emailed each month.
Review your student account activity details on the Transact Student Finance Portal on a regular basis
For questions about charges/due dates/payment plans call the Business Office at 717-867-6300
For questions about your financial aid call the Financial Aid Office at 717-867-6126<br>
slide13. Parent Access! Students can authorize others to access the Student Finance Portal in 4 easy steps!
After logging into AccessLVC:
Click on Student Finance
Click on My Account
Scroll down and click on Send a Payer Invitation (under Payers)
Enter the first name, last name, and email address of the person they wish to invite and click Send Invitation – That’s it!
The authorization will remain in place unless the student later rescinds it.<br>
slide14. Parent Access!<br>
slide15. Student Account Worksheet (Optional)<br>
slide16. Methods of Payment Direct:
Cash
Personal Checks (please include 7 digit Student ID number in the memo!
Money Orders
TAP/529 Plans – contact the agency for instructions. All checks should be made payable to Lebanon Valley College, should include the student’s name and student ID number and should be sent to:
Lebanon Valley College
Attn: Business Office
101 N. College Ave
Annville, PA 17003
Online only:
ACH/Bank Account/eCheck – Checking or Savings account ($0.50 fee)
Credit/Debit Card (2.75% fee)
Transact Payment Plan ($35 enrollment fee per plan)
Guest Pay (ACH or Credit/Debit Card) – https://commerce.cashnet.com/lvcpay - “Pay as a Guest” Enter ID/Last Name<br>
slide17. Transact Payment Plan Students will be able to enroll from the Student Finance Portal
Parents will be able to enroll from the Transact Payments Portal
$35 Enrollment Fee – No Interest!
You determine the amount to setup. You can finance what is due, or you can finance more to cover bookstore charges/etc. or you can finance less if you have funds coming from other sources
You may increase or decrease your payment plan at any time and there is no fee for doing so. Your adjustment will impact your future payments.
Auto-pay is available<br>
slide18. Transact Payment Plan 5 month plan - single semester
Due on the first of each month from 8/1 to 12/1
10 month plan – full year
Due on the first of each month from 8/1 to 5/1
When setting up this plan, double the amount that will be due for fall, so that the spring is covered as well.
This plan is recommended because you won’t have to pay another fee to do a second spring semester plan!
Did you miss enrolling in a plan before it started?
No Problem! - You will be asked to make the payments to catch up at that time.<br>
slide19. Thank You WE ARE HERE TO HELP YOU! r Attending! Kendra Feigert Jeff Petritsch
feigert@lvc.edu petritsc@lvc.edu
finaid@lvc.edu cashier@lvc.edu
717-867-6126 717-867-6300
Office Hours
Academic year - Monday to Friday 8:00 a.m. to 4:30 p.m.
Summer - Monday to Thursday 8:00 a.m. to 4:00 p.m.,
Friday 8:00 a.m. to noon<br>
Jeff Petritsch, Director of Student Accounts<br>
slide2. AccessLVC -> Financial Aid Link in admissions portal with login credentials
From lvc.edu -> MyLVC<br>
slide3. 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<br>
slide4. 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<br>
slide5. 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<br>
slide6. Financial Aid Info Packet<br>
slide7. 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/<br>
slide8. 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<br>
slide9. 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 email will be sent when the update to the meal plan is complete.<br>
slide10. Changes for 2024-2025 2024-25 FAFSA will not be available until December 2023
Needs analysis formula is changing significantly – expected family (EFC) contribution will become the student aid index (SAI)
Stay tuned for more details<br>
slide11. Billing Dates Semester Email Date Due Date
Fall 2023 7/5/2023 8/7/2023
Spring 2024 11/22/2023 1/5/2024
Payment is due by the date indicated on each monthly statement.
“Statements” are available online via the Student Finance Portal in AccessLVC.
Real-time on-demand student account transactions are available under “Activity Details” in the Student Finance Portal
A late charge of $200 per semester is added to the student account if payment in full (less approved financial aid) is not received by the stated due date.
Bills for incidental charges will be emailed monthly and will note specific due dates.<br>
slide12. Communication/Financial Responsibility Please communicate with each other about all aspects of the bill-paying/loan application process. Since the account is in the student’s name it is highly beneficial if the students themselves are involved!
Please be sure to do the following to ensure that your account is current:
Review the account statements that are emailed each month.
Review your student account activity details on the Transact Student Finance Portal on a regular basis
For questions about charges/due dates/payment plans call the Business Office at 717-867-6300
For questions about your financial aid call the Financial Aid Office at 717-867-6126<br>
slide13. Parent Access! Students can authorize others to access the Student Finance Portal in 4 easy steps!
After logging into AccessLVC:
Click on Student Finance
Click on My Account
Scroll down and click on Send a Payer Invitation (under Payers)
Enter the first name, last name, and email address of the person they wish to invite and click Send Invitation – That’s it!
The authorization will remain in place unless the student later rescinds it.<br>
slide14. Parent Access!<br>
slide15. Student Account Worksheet (Optional)<br>
slide16. Methods of Payment Direct:
Cash
Personal Checks (please include 7 digit Student ID number in the memo!
Money Orders
TAP/529 Plans – contact the agency for instructions. All checks should be made payable to Lebanon Valley College, should include the student’s name and student ID number and should be sent to:
Lebanon Valley College
Attn: Business Office
101 N. College Ave
Annville, PA 17003
Online only:
ACH/Bank Account/eCheck – Checking or Savings account ($0.50 fee)
Credit/Debit Card (2.75% fee)
Transact Payment Plan ($35 enrollment fee per plan)
Guest Pay (ACH or Credit/Debit Card) – https://commerce.cashnet.com/lvcpay - “Pay as a Guest” Enter ID/Last Name<br>
slide17. Transact Payment Plan Students will be able to enroll from the Student Finance Portal
Parents will be able to enroll from the Transact Payments Portal
$35 Enrollment Fee – No Interest!
You determine the amount to setup. You can finance what is due, or you can finance more to cover bookstore charges/etc. or you can finance less if you have funds coming from other sources
You may increase or decrease your payment plan at any time and there is no fee for doing so. Your adjustment will impact your future payments.
Auto-pay is available<br>
slide18. Transact Payment Plan 5 month plan - single semester
Due on the first of each month from 8/1 to 12/1
10 month plan – full year
Due on the first of each month from 8/1 to 5/1
When setting up this plan, double the amount that will be due for fall, so that the spring is covered as well.
This plan is recommended because you won’t have to pay another fee to do a second spring semester plan!
Did you miss enrolling in a plan before it started?
No Problem! - You will be asked to make the payments to catch up at that time.<br>
slide19. Thank You WE ARE HERE TO HELP YOU! r Attending! Kendra Feigert Jeff Petritsch
feigert@lvc.edu petritsc@lvc.edu
finaid@lvc.edu cashier@lvc.edu
717-867-6126 717-867-6300
Office Hours
Academic year - Monday to Friday 8:00 a.m. to 4:30 p.m.
Summer - Monday to Thursday 8:00 a.m. to 4:00 p.m.,
Friday 8:00 a.m. to noon<br>