Financial Aid Programs
Financial Planning
At LeTourneau University, we try to provide assistance to students who would be unable to attend for financial reasons. The Financial Aid Office at LeTourneau University encourages inquiry and is available to assist you and your parents in planning your university expenses and ways to meet them.
Various combinations of employment, grants, loans, and scholarships may be used to add to funds already available for you to cover the total cost of an education. Students should consider the costs of attending college carefully, and apply for financial assistance if the costs exceed the available resources.
How Financial Aid is Determined
Financial aid is any grant, loan, scholarship, or work-study employment offered to help a student meet education related expenses. Grants and scholarships are gift aid programs and need not be repaid, although special requirements for student participation are clearly outlined and must be followed. Loans are usually offered at low interest rates and can be repaid over an extended period after you leave school. When aid is offered in the form of a job, you are paid an hourly rate for work performed.
Financial aid is determined on the basis of financial need and other factors. This is the difference between the amount of money you and/or your family can provide for an education, based upon a government formula, and the cost of attending LeTourneau. The process of determining need takes into account income, assets, number of children in the family, number of children in college, and other factors. Total student costs include tuition, general fee, residency fee, books, transportation, and an allowance for personal expenses.
You must be enrolled in at least a half time course of study and must be pursuing a degree in order to be eligible for assistance. A financial aid package of grants, loans, employment, and scholarships will be arranged according to your individual need and availability of funds. Applying for assistance as early in the year as possible is to your benefit if you are unable to meet the February 15 priority deadline. Financial Aid Award Letters are emailed beginning in early March.
Application Procedure
If you wish to apply for assistance, you must complete a FAFSA (Free Application for Federal Student Aid) form. You can file on-line at http://www.fafsa.ed.gov.html . The agency will calculate your financial need and transmit the information to all of the colleges that you have listed on the FAFSA. The agency will also send you a Student Aid Report by email. Filing the FAFSA online results in quicker processing and response time.
Your financial aid award will be determined after the Financial Aid Office has received the data from your FAFSA and after you have been admitted to the University. New students who have both filed their FAFSA by February 15 and who have been admitted by March 1 will be given maximum consideration for financial assistance. If additional information is required, the Financial Aid Office will ask you to supply it directly.
You must submit a FAFSA each year you wish to apply for financial aid. Returning students must have all completed forms filed in the Financial Aid Office by February 15 to be given maximum consideration for financial assistance for the following academic year. No student will be considered until the proper forms are completed and returned to the Financial Aid office.
Student Academic Progress Policy
Students receiving Title IV federal funds (including Federal Pell Grants, Federal SEOG Grants, Federal Perkins Loans, Federal College Work Study, and Federal Family Education Loans) as part of their financial aid award must demonstrate satisfactory academic progress in order to maintain continued eligibility for those Title IV funds. Such students have a maximum of six years of full time enrollment to complete a bachelor's degree program (two years of full time enrollment for a master's degree program).
Students must successfully complete at least 66.67% of their attempted coursework in each academic year to qualify for financial aid. Grades of Incomplete, Withdrawn, or Audit will not be counted as earned hours. Repeated courses will be counted as earned hours. All courses attempted will be counted as attempted hours. Students must maintain their grade point average at or above the academic probation level in the following table in order to remain eligible for aid:
Total Hours
Earned
Academic Probation if GPA Below
0-19
1.50
20-30
1.60
31-45
1.70
46-60
1.80
61-75 1.90
76+
2.00
Students who fail to complete at least 66.67% of their attempted coursework, or students failing to maintain their cumulative grade point above the academic probation level, will be placed on financial aid probation. Such students will receive a written confirmation of financial aid probation from the Financial Aid Director at the end of the spring semester. Students will be permitted two semesters on financial aid probation before eligibility for aid will be canceled. Academic progress is reviewed at the conclusion of the spring academic term. Appeals of the withdrawal of financial aid may be made to the Vice President for Enrollment Services, who will adjudicate them.
Procedures for Previewing Documents
Interested parties may examine LeTourneau University's documents regarding accreditation, approval, and licensing bodies in the President's Office, upon written request to the President.
Handicapped Facilities, Services, and Accessibility
LeTourneau University has sought to make its facilities accessible, within reasonable limits, to the physically challenged. The University will seek to assist physically challenged students to succeed in their education. However, the University does not provide specific assistance programs to tutor, translate for, or accommodate disabled students.
Financial Aid Information
The Financial Aid Office is located in the Enrollment Services Center in the Learning Resources
Building. You may contact them in person or by telephone from 8:00 a.m. to 5:00 p.m. central
time. The office phone number is 903-233-4350.