Pell Grants are the foundation of federal student financial aid, to which aid from other federal and nonfederal sources might be added. Once you’ve earned the money by attending your classes and completing the semester, you do not need to repay the Pell Grant.

Pell Grants are awarded only to undergraduate students—those who haven’t earned a bachelor’s or graduate degree. Amounts can change yearly. The maximum award for the 2009–10 award year is $5,350.

Federal Work-Study

The Federal Work Study Program provides the opportunity for students to earn money through federally sponsored part-time employment. Employment sites are available at LCCC and off campus. Eligibility for Federal Work Study is need-based according to federal definition. Completion of the FAFSA and an LCCC Student Employment Application is required.

Federal Stafford Loan

LCCC participates in the Federal Family Education Loan Program (FFEL), which includes the Federal Subsidized Stafford Loan, Federal Unsubsidized Stafford Loan and the Parental Loan to Undergraduate Students (PLUS). Unlike grants, student loans are not free but are federally guaranteed loans that must be repaid. Repayment begins six months after the student graduates or stops going to school at least half-time (6 credit hours or more). The typical expense period for student loans is the first day of fall semester and the last day of spring semester (August through May). However, student loans may be processed for eligible semesters of enrollment of less than a full academic year including summer or on a borrower based academic year. Pre-loan counseling is conducted for all student loan applicants.

To apply for student loans, your first step is to complete the Free Application for Federal Student Aid (FAFSA) and comply with any request(s) for additional information. Next, complete the online Entrance Loan Counseling via the Internet and follow the instructions to select a lender and complete the process.

Please note: if your lender of choice is not listed, please contact the Financial Services Center for information on how to process your loan request. LCCC is committed to processing all loan requests for the student’s lender of choice.

Loans will be awarded based on your maximum eligibility. If a student would like to borrow less than the maximum amount, please contact the Financial Services Center.

Additional eligibility requirements for Federal Stafford Loan borrowers are:

• Must be enrolled for a minimum of six credit hours for each semester you wish to borrow funds
• Must possess a minimum 2.0 LCCC cumulative grade point average to receive your loan funds
• Must be meeting the College’s satisfactory academic progress standards
• Must be meeting all other U.S. Department of Education eligibility requirements
• At the time of disbursement, must be enrolled in and commenced attendance in a minimum of 6 credit hours. 

Federal PLUS Loan Program

This loan program is designed for parents of eligible students. The PLUS loan allows parents to borrow federal loan money to help pay the cost of their child’s postsecondary school expenses.

To be eligible for a Federal PLUS loan the borrower must be the dependent student's biological or adoptive mother or father or legal guardian. Stepparents may also be eligible. While the Federal PLUS loan program has no annual or cumulative borrowing maximums, eligible parents may not borrow more than the difference between the student s cost of attendance and all other financial aid and other resources the student will receive.

Hope Scholarship

The Hope Scholarship is actually a tax credit, not a scholarship. Tax credits are subtracted from the tax a family owes, rather than reducing taxable income like a tax deduction.

A family must file a tax return and owe taxes to take advantage of the Hope Scholarship. For additional details on the Hope Scholarship contact your tax advisor or visit the IRS website at www.irs.gov/pub/irs-pdf/p970.pdf.

Lifetime Learning Credit

This program is a tax credit available to individuals who file a tax return and owe taxes.

The actual amount of the credit depends on the family s income, the amount of qualified tuition and fees paid, and the amount of certain scholarships and allowances subtracted from tuition. This credit is family-based rather than dependent-based. See your tax advisor for further details or visit the IRS web site at www.irs.gov/pub/irs-pdf/p970.pdf.

The Ohio War Orphans Scholarship and Ohio Academic Scholarship are funded by the State of Ohio. Applications for these scholarships are available through the Ohio Board of Regents State Grants and Scholarships Office at 1-888-833-1133.

LCCC awards and/or administers a variety of institutional and privately funded scholarships. The LCCC-funded scholarships - the Trustee and the Presidential - are awarded to Lorain County current-year high school graduates. The Trustee Scholarships are awarded to students with grade point averages of 3.7 or above. The Presidential Scholarships are awarded to students with grade point averages of 3.4 to 3.699. Recipients of these awards are processed through high school counselors and are notified by LCCC. High school seniors residing in Lorain County and attending high schools located outside of Lorain County should notify the LCCC Financial Aid Office to determine eligibility.

In addition, LCCC offers a variety of scholarships to students attending LCCC and the University Partnership. Please visit the scholarship section of this web site for specific details.