Financial Aid Handbook - Elizabethtown College

Terms and Conditions
of Financial Aid Awards
ELIZABETHTOWN COLLEGE MERIT-BASED
SCHOLARSHIPS—(Presidential, Provost, Deans)—These
scholarships are awarded to first-year students on the basis
of their high school academic achievements and test scores.
Students awarded Elizabethtown College Scholarships must
maintain a 2.75 cumulative grade point average in order to be
eligible for renewal of the scholarships. These scholarships are
not transferable to the summer sessions and are available for
only eight semesters (10 semesters for OT students). This money
is an outright scholarship to the student and does not have to be
repaid. This aid is listed as a credit on the College bill. Amounts
retain their original values all four years. No increases are given.
MUSIC PERFORMANCE SCHOLARSHIPS—These scholarships
are awarded to first-year and transfer students who are
outstanding performing musicians and who meet the challenges
of Elizabethtown’s academic environment. Scholarships are open
to music and non-music majors. Awards range in value up to
$4,000 annually and are renewable for four years.
Scholarship winners must participate in a College music
ensemble identified by the College and take private music
lessons for credit in their primary performing areas to maintain
their scholarships. Students must receive “pass” grades in the
ensembles and no less than “B-” in the lessons to remain eligible
for the scholarship.
TRUSTEE GRANT—These grants are available to students who
demonstrate financial need. A student must apply annually to be
considered for this grant. This money is an outright grant to the
student and does not have to be repaid. This aid is listed as a
credit on the College bill. The receipt of additional merit awards
or outside scholarships may impact this amount.
CHURCH OF THE BRETHREN SCHOLARSHIP—These awards
are available to students who are active members of the Church
of the Brethren when they are admitted to the College. This
money is an outright award to the student and does not have to
be repaid. This aid is listed as a credit on the College bill.
PENNSYLVANIA STATE GRANT (PHEAA)—These funds are
awarded by the Commonwealth of Pennsylvania on the basis
of its financial need formula. PHEAA must have received your
FAFSA results prior to May 1 to be eligible. The figure shown is
only an estimate of your award. You will receive a confirmation
notice from PHEAA. This is a grant which does not have to be
repaid. PHEAA limits students to eight semesters of PHEAA
Grant eligibility. Students with PHEAA Grants must advance a
minimum of 24 credits per academic year in order to maintain
eligibility. This aid is listed as a credit on the College bill. Note:
Late state grants received reduce institutional need-based gift
aid by 100 percent.
OTHER STATE SCHOLARSHIPS/GRANTS—These funds
are awarded by your state on the basis of their financial need
formula. The figure shown is only an estimate of your award.
You will receive a confirmation notice from your state. This is
a grant or scholarship, which does not have to be repaid. This
aid is listed as a credit on the College bill. Note: State grants
received after the deadline will reduce institutional need-based
gift aid by 100 percent. This policy applies to all need-based state
assistance regardless of the title of the program. For example,
Delaware, Maine and others title their programs “scholarships”,
but are still need-based assistance programs.
FEDERAL PELL GRANT—These grants are funded by the
Federal government on the basis of its financial need formula.
This grant does not have to be repaid. This aid is listed as a credit
on the College bill.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY
GRANT (SEOG)—These grants are need-based awards, federally
funded, granted through Elizabethtown College. These grants are
given to students with extremely high financial need. This money
is an outright grant to the student and does not have to be repaid.
This aid is listed as a credit on the College bill.
FEDERAL WORK-STUDY PROGRAM (FWS)— You are offered
an opportunity to seek on-campus employment as part of your
financial aid package. The amount indicated is the maximum
you will be allowed to earn under the FWS Program during the
academic year. Students are paid at least minimum wage for
each hour of work completed. For example, if your work award
is $1,500, you would have to work approximately seven hours
a week during the academic year to receive your full $1,500 at
minimum wage per hour. Job interviews are conducted when
students arrive on campus in the fall. Students may not use the
Work-Study award as a credit against their bill. Rather, students
may use these work earnings for books and spending money.
Due to supply and demand changes, on-campus Work-Study
jobs cannot be guaranteed. The Work-Study award, therefore,
is not listed as a credit on the College bill. If on-campus
employment is not obtained, the student may inquire with Career
Services for off-campus employment opportunities.
FEDERAL PERKINS LOAN—This loan is federally funded
and granted through Elizabethtown College to Freshman or
Sophomore students who have high financial need. This loan
is interest-free during college. Repayment begins nine months
after the student leaves college. A simple 5-percent interest rate
applies, with up to 10 years to repay the College at $40 per month
minimum principal due. The College will mail first-time borrowers
promissory notes and other required forms to be signed prior to
the start of classes. This aid is listed as a credit on the College
bill.
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