Frequently Asked Questions
How Do I Apply for Financial Aid?
You need to complete the Free Application for Federal Student Aid (FAFSA) by March 1. You and your parents will need to provide information about your family's income, assets, household size, and number in college. The FAFSA cannot be completed until after January 1. You may complete the FAFSA on the Web at www.fafsa.ed.gov. FAFSA forms are also available in your high school guidance office.
Do I have to wait until I am accepted to Lycoming before I apply for aid?
No, you may apply before you are accepted, but you will not receive a financial aid award letter until you are accepted. We encourage you to apply even if you are not accepted so that we may process your aid application as soon as possible upon your acceptance.
What is Lycoming College's deadline for applying for financial aid?
Lycoming College has a recommended filing deadline of March 1 for incoming first-year students. We ask that you file early so that we can get the results of your FAFSA and notify you of your eligibility by mid-March.
What if our taxes will not be completed by March?
Although we encourage you to complete your tax returns before completing the application process, we understand that sometimes this is not possible. You may use estimated amounts on the FAFSA form and correct the information once your taxes are complete.
Does Lycoming College offer merit scholarships, and how do I apply for them?
Yes, Lycoming College does offer merit-based scholarships. Each year Lycoming College awards more than $7 million in merit-based scholarships. You are automatically considered for scholarships when you have been accepted for admission to Lycoming. No additional applications are required.
What is Lycoming College's federal school code for the FAFSA?
How is financial need determined?
Financial need is determined by subtracting your EFC (Expected Family Contribution as determined by the FAFSA) from the total cost of education for the year. Since costs vary among colleges and universities, your need will also vary from one institution to another. Your EFC, however, may stay the same at all colleges and universities. Therefore, it is likely that a student will receive more assistance at a higher cost private institution compared to a less expensive public college because the student's financial need will be higher at a private institution.
What is a financial aid package?
A student's financial aid package is a listing of all financial aid for which a student is eligible. It may consist of any combination of the following: grants, scholarships, loans, and work-study.
Is there an income cut-off for financial aid?
No, there is no income cut-off for financial aid. While income is a factor when determining eligibility for need-based aid, there are other factors also taken into account, such as household size, number in college, and the age of the oldest parent. We recommend that all students apply for financial aid.
When and how will I find out how much aid I can receive?
In early March, the Financial Aid Office will begin mailing award letters to students who have been accepted for admission and who have completed the FAFSA and the Lycoming Financial Aid Application. We will notify you of your eligibility for all assistance, including scholarships, in your financial aid award letter. You will also receive the Financial Aid Overview explaining the aid programs, requirements for renewal of your financial aid, and costs. We will continue to mail award letters on an ongoing basis.
What if my family's financial situation changes after we have completed the FAFSA?
Contact the Financial Aid Office and we will advise you what you need to do in order to be evaluated based on the change in circumstances. Most likely, you will have to complete some additional forms.
If my parents are divorced or separated, whose information is reported on the financial aid application?
The custodial parent is the parent that must complete the FAFSA. If the custodial parent has remarried, then the stepparent's financial information must also be provided.
Will I receive the same amount of financial aid each year?
Lycoming College scholarships will be renewed for each year that you are a full-time undergraduate as long as you continue to meet the scholarship requirements. Scholarships are available for use in the first eight semesters of enrollment. Eligibility for federal and state aid, as well as Lycoming Grants, will be reevaluated each year. You will be required to complete a Renewal FAFSA each year so that eligibility for federal aid, state aid, and Lycoming Grants can be determined. Eligibility may change, as information on the FAFSA changes, from one year to the next.
What happens if I receive outside scholarships?
You must notify the Financial Aid Office of any outside scholarships you have been awarded. We will need to know the source and amount of the scholarship(s). Outside scholarships may reduce the amount of a student's loan or work-study award.