Lebanon Valley College - Quittapahilla Yearbook (Annville, PA)

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Financial Aid — Its Power -bt „««,.fnr :-- ' - ' ' ■ ' ' ' - rliot academic J J.J! 1111 1 K IJUL aU ' tf5 aJ B6 T.-ur iHrattir It y t u : R ' 5 r JSf Dawna Didden works at the College Center desk as part of her work-study. Mr. Bill Brown, director of financial aid, takes his turn working for food service. 26

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(cont ' d from p. 24) Thanksgiving vacation, but the times really moves quickly along. The freshman begins to feel a part of the community and realizes that college is really a fun, worthwhile experience. Michelle Grube stated, Being a freshman is sometimes lonely and over- whelming, but you have to keep in mind that it ' s just a stepping stone to the future. Perhaps Lisa Gary summed it up best when she said, It ' s a great experience — you only ever do it once. -Amy Himmelberger The freshmen year offers opportunities to get to another each other through shared classroom experiences with pro- fessors, an eagerness to learn together in laboratories and |ust a willingness to ac- tivate a network of friends. 25

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— -- ». »»g.l.I ;if X; IV o 1 i». T To . ' :iMri rii MUC1 VOU«AC«H--M Students take many factors into ac- count when selecting the college they will attend. An institution ' s size, student-faculty ratio, academic reputa- tion, and sports programs are a few of the aspects considered by students as they decide where to spend the next four years of their life. In addition to these elements, the cost of a college also plays a major role in the students college selection process. With the ever-increasing expenses of higher education, many students can- not meet the growing costs of college by themselves. This is where financial aid comes into play. The amount of financial aid that can be provided to students by a particular college is possibly the most important factor in- volved in students selection of a col- lege. As one student aptly described the situation, If it wasn ' t for financial aid, I wouldn ' t be here. Financial aid awards consist of three different types: grants and scholar- ships, which do not need to be replac- ed; loans, which must be repaid; and wages, which are earned from on- campus jobs. The monies for these pro- grams are gained from the federal and state governments, private sources, and the colleges. Scholarships are awarded by many private organizations and by the Col- lege, the most prestigious of these be- ing the Presidential Leadership Scholarships. Each year incoming freshmen who rank in the top 40% of their class or achieve at least 1000 on the Scholastic Aptitude Test, and who have demonstrated leadership ability are eligible for thirty renewable $5000 scholarships. Other college-sponsored scholarships include the Carmean Str- ings Scholarships and the Pierre Monteuz String Scholarships, both of which recognize excellence in music. In addition to these college awards, thousands of scholarships sponsored by civic groups, foundations, and other organizations are available to students every year. These awards are presented to students based on a number of considerations, usually need or scholastic achivement. Grants constitute the other half of non -repayable awards. The federal government awards Pell Grants, based on need, to many students each year. The recipient of a Pell Grant must be enrolled at least part-time and must be a U.S. citizen or permanent resident. For the 1986-87 academic year, up to $2100 could be awarded to a student through Pell Grants. The Pennsylvania Higher Education Assistance Agency also sponsors grants awarded on need. To acquire a PHEAA grant, one must be enrolled full-time and be a resident of Pennsylvania. In addition to govern- ment grants, every year the college of- fers Grants-in-Aid to needy full-time students. Through the scholarships and grants it sponsors, the College awarded over $1.7 million to its students during this year. Loans are another form of finanical aid, but, unlike grants and scholarships, they must be repaid. The federal government offers the National Direct Student Loan to students. Up to $1000 can be borrowed at 5% interest, with payments beginning six months after graduation or termination of at least half-time enrollment. Banks also offer two special loan packages to college students. The Guaranteed Student Loan program offeres loans of up to $2500 to students whose family income is under $30,000. Interest of 8% is charged on these loans, and repayment on these also begins six months after graduation. In addition, banks offer Parents ' Loans for Undergraduate Students to parents with one or more children enrolled in college. Parents may borrow up to $3000 per student in college at an interest rate of 12%. In- terest begins to accrue on the date of borrowment and repayment begins six- ty days later. The final type of aid is college work- study. Job opportunities on campus in- clude the dining hall, library, admis- sions, communications, and academic departments. Students can be assign- ed part-time jobs under the College Work-Study program which is spon- sored by the federal government, or students can obtain jobs through the college-supported work-aid program. Payment for on-campus employment is made directly to the student each month. Students have been known to over $1000 a school year through cam- pus employment. Available aid here is at its highest point ever, and, according to Dean Gregory Stanson, there appears to be no decrease in sight. The amount available is expected to increase, especially in the area of leadership. Between 75 and 80 percent of students receive aid, whether from the state, federal or college level. For the average student, financial aid is vital. Since many students might not be here right now without the gift of financial aid, monetary assistance is obviously an in- tegral part of college life. — Amy Himmelberger 27