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 should 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.gov.  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. 

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 freshmen and transfer 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

Federal regulation requires that a student must be making satisfactory academic progress if they are receiving Title IV aid. That includes financial assistance such as Pell Grants, SEOG, Perkins Loans, Stafford Loans, PLUS Loans and Work Study.

All students enrolled at LeTourneau University who receive financial aid through LETU or the Federal Title IV Assistance Programs must meet the satisfactory academic progress requirements as defined below in order to be eligible for further aid.

Students’ satisfactory academic progress (SAP) will be checked annually after each spring semester and will be based on the student achieving both qualitative and quantitative requirements.Students in a two-year, Associates degree program must maintain a CGPA of 2.0 throughout the duration of their program in order to be eligible for Title IV funds.

Qualitative Requirements

The student must have a CGPA of 2.0 and must continue to meet this academic standard through to degree completion.

Quantitative Requirements

The student must pass, as a minimum, 67% of attempted credits per academic year. This is calculated by credit hours earned divided by total hours attempted.

The student must also complete their program measured in credit hours in a maximum timeframe no longer than 150% of the published length of the program.

A transfer student may have earned credits at another school that will count toward his/her degree, but not grade point average, at LETU. Only transfer credits that apply to the student’s degree will count as part of the 150% maximum time frame. Non-credit or remedial coursework is not applicable at LETU.  

A student pursuing a second degree will have a new maximum time frame.

A withdrawal will be counted as an attempted class that was not successful.

An incomplete will be counted as an attempted class that was not successful.

A repeated course is counted as attempted and successfully completed.

At the end of an academic year, if the student does not meet both the qualitative and quantitative requirements, he/she will be notified and placed on financial aid suspension.

Appeal Process

If a student is on financial aid suspension, a letter of appeal may be written to the Director of Financial Aid – Traditional program. The appeal must address why the student has failed to make satisfactory progress, and what has changed in the student’s situation to enable the student to demonstrate satisfactory progress at the next evaluation point. Each appeal will be decided on a case by case basis by the Financial Aid Appeals Committee. Students will be notified in writing regarding the outcome of their appeal.   The appeal must be submitted prior to August 1.

If the appeal is approved, the student will be given the following semester to meet the eligibility requirements, or have an academic plan developed that will ensure the student is able to meet the requirements by a specific point in time. This plan will be developed by the Achievement Center and approved by the Associate Provost for Office of the Provost.

If the appeal is denied and the student is still academically eligible, the student may continue to attend LETU without Title IV assistance. A student on Financial Aid Suspension may regain eligibility by meeting Satisfactory Academic Progress requirements.

At the end of the following payment period or the academic plan timeframe, if a student has not met the required standards, the student will be placed on financial suspension from LETU. A second appeal is permitted.

Some examples of mitigating circumstances may include: 

  1. Death in the family,
  2. Serious illness of a family member,
  3. Medical complications or prolonged illness of the student, or
  4. Serious financial problems requiring excessive hours of employment.

Financial Aid Information

The Financial Aid Office is located on the second floor of the Library, in the Enrollment Services area.  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.
 

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