A Word About Financial Aid We’re excited that you’re considering Lenoir-Rhyne University for your education, and we know that Financial Aid is usually a big factor for most students when making their final selection. That’s why we put together this information to help you understand the basic, essential points of your financial aid award. To be eligible for most of the aid offered in your award package, you’ll need to be a full time, undergraduate student. This means you need to enroll in at least 12 hours a semester to maintain these awards. If your status changes, please let us know as soon as possible so we can make the needed adjustments. There may be three different types of aid listed in your award letter: gift aid, loans and campus employment. You can find more information about campus employment later in this piece. GIFT AID is money offered to you that doesn’t require repayment. Often, these are listed as grants or scholarships. Our grants and scholarships are awarded in varying amounts based on academic ability and financial need. L-R scholarships and grants are applied to your tuition and can only be applied to room and board in special circumstances. These awards are renewable for up to four years (including all transfer credits) and are based on Satisfactory Academic Progress. The Federal Pell Grant and Supplemental Educational Opportunity Grant are non-repayable, need-based grants funded by the federal government. This amount is subject to change based on federal funding levels or corrections to your FAFSA. You must reapply each year by completing the FAFSA.

Outside Scholarship(s): If you are receiving a scholarship, grant or educational loan from a business, club, or any organization outside of the college, you must notify us of the source and amount of the award. Federal regulations require that all aid be included when your eligibility is determined. LOANS are considered “self help” aid and require repayment based on the schedule specific to each loan. Subsidized, Unsubsidized and PLUS loans are offered through the Federal Direct Loan Program. You can find more information about these at www.studentloans.gov. 2012-2013 Interest Rates are Subsidized and Unsubsidized Loan 6.8% and PLUS Loan 7.9%. First-time student loan borrowers are required to complete an Entrance Interview before the first loan disbursement is made. This can be done online at www.studentloans.gov.. Promissory Notes must be signed to complete the process and can also be found at www.studentloans.gov.. Please remember to deduct the loan origination fee when calculating the resources available for payment of your bill. The CAMPUS STUDENT EMPLOYMENT PROGRAM (CSEP) allows for students to work on campus. A campus employment job fair is held at the beginning of the Fall Semester. The offer of Federal Work Study on an award letter is not a guarantee of work, but permits you to interview for a wide variety of positions available. Students will receive earnings from campus employment by paycheck. Most students will use this for miscellaneous expenses, so you may not want to count it towards your bill. Students must maintain satisfactory academic progress towards a degree as it is referred to in the Lenoir-Rhyne University Catalog. Failure to do so may result in a loss of financial aid eligibility.

Your eligibility to receive any type of federal funds, including Federal loans, is limited by the maximum time frame limits set forth in the laws and regulations that govern these types of aid. Students must complete a four-year degree in no more than 12 semesters (full-time equivalent), including all hours attempted at all colleges & universities. If you leave Lenoir-Rhyne University prior to the end of the semester, you are required to contact the Division of Enrollment Management and complete a Withdrawal Form. It is extremely important to complete this process so a refund can be calculated and the appropriate amount of Federal, State, L-R funds, and cash may be returned to their source in a timely manner. Failure to officially withdraw may put future aid in jeopardy. Calculating Your Costs:

When we put together your financial aid package, we take a couple of things into consideration. First, we look at the direct cost of attending Lenoir-Rhyne. This is the easy part. LRU 2010-2011 Direct Costs: Tuition (Full-Time): $27,718 Room & Board: $ 9,796*

$37,514 *First time on campus residents are required to pay an additional refundable room damage deposit of $150. *Private Room Rate: $2630 Then we consider indirect costs. Financial Aid doesn’t cover these indirect costs, but they do factor into the aid that we offer

you. You won’t see these charges on your bill, and you are ultimately in charge of these added expenses by your budget and spending choices. Estimated Indirect Costs: Transportation: $1,000.00 Books/Supplies: $1,160.00** Personal Expenses: $1,600.00 Loan Fees: $ 250.00 **Books/Supplies are an out-of-pocket expense. Students should be prepared to purchase books on their own.

Budget Notes: Students are required to reapply for aid each year. In the 2012-20113 Academic Year and each subsequent year, all students are required to renew the FAFSA and supply all other requested information. If you anticipate a credit balance on your account, these balances are cleared within 14 days after the credit balance appears on your account by the Student Accounts Office. It is important for you to understand your aid, so please contact us with any questions. If we need more information at any point, you may receive a phone call from one of our staff and/or a missing information letter. Please respond quickly to these requests so we can work to finalize your aid options. Deadlines apply to all financial aid paperwork as follows: Summer Semester: May 2, 2012 Fall Semester: August 22, 2012 Spring Semester: January 2, 2012