Penn State Lehigh Valley: Financial Aid

Financial Aid

FINANCIAL AID WORKSHOPS

Check back for upcoming workshops.

DEFINITIONS

Student aid is defined as any resource that supplements what parents and students are expected to contribute to meet the costs of a college education.
Penn State students receive four types of student aid:

grants

scholarships

loans

work study

Each type of student aid contains several individual programs.

GRANTS

Grants are awarded based solely on financial need and have no requirement of repayment.
They may come from the Federal government, the state, or the University.
To be considered for a grant, you must fill out the FAFSA.

SCHOLARSHIPS

Scholarships are awarded for academic achievement. Eligibility is based on merit and, in many cases, financial need. There is no requirement of repayment.

University Scholarships
These are awarded on the basis of superior high school or college academic performance. All students are automatically considered for University-wide scholarships. In most cases, documented financial need is also a requirement.
Click here for a list of Penn State Lehigh Valley scholarships.
Military Scholarship Assistance (AROTC, AFROTC, NROTC)
One-, two- and three-year scholarships are available to both male and female students enrolled in one of the Reserve Officers Training Corps programs. These scholarships pay tuition, books, and lab fees. They also pay from $250 to $400 per month (stipend), freshmen through senior, for up to 10 months of each school year.
Non-University Scholarship
Various local service groups, organizations, schools, and industries offer scholarships to college students. Students are encouraged to research these possibilities for additional assistance. Visit the main Student Aid website http://www.psu.edu/studentaid to begin your search OR the Library, Office of Student Aid, or Admissions Office at Penn State Hazleton. These offices have the New Scholarships List binder compiled by Penn State Hazleton's Office of Student Aid.

LOANS

Loans are low interest awards that must be repaid after students terminate their studies at the University.

Stafford Loan
Stafford oans are available to all students. There are two types of Stafford Loans: subsidized and unsubsidized. Subsidized loans mean the Federal government is subsidizing (or paying for) your loan interest while you are in school and meeting the other requirements of the loan. Unsubsidized loans are loans that will not have the government pay for the interest while you are in school. Receiving a subsidized or unsubsidized loan depends on the financial need. For more information about Stafford Loans, visit www.psu.edu/studentaid/aidprog/stafford.shtml
PLUS Loan
This is a parent-only loan application. Students must be enrolled at least half-time (6 or more credits) and must be a dependent student in order for parents to qualify for this loan. For more information about the PLUS loan, go to www.psu.edu/studentaid/aidprog/plus.shtml
Federal Perkins Loan
Perkins loans are available to the highest-need students. This is a low-interest loan available to undergraduate and graduate students who demonstrate financial need. For more information about the Perkins Loan, visit www.psu.edu/studentaid/aidprog/perkins.shtml
Alternative Loans
Students who have unmet need can apply for an alternative loan. For more information about alternative loans, go to www.psu.edu/studentaid/aidprog/alternative.shtml

FEDERAL WORK-STUDY

Work-Study is a need-based aid program. Students can earn money for school expenses by working. Work-study earnings are not applied directly to the semester bill; students receive a pay check.

For more information about Work-Study, visit www.psu.edu/studentaid/aidprog/workstudy.shtml