Here you will find forms, policies, and more information regarding Financial Aid and Student Accounts. If the information you are looking for is not found here, please contact the Financial Aid Office at (909) 706-3022.
Private Student Loans
After you have taken out Direct Federal loans, you may find that you need to borrow additional loan funds. Private student loans are additional loans that a student can take out to help cover their educational expenses. If a student does not have enough credit history established, they may need a credit worthy co-signer. We strongly encourage students to take the time to check out several lenders before making their decision. Fast Choice gives you the opportunity to cost-compare a few lenders at once. If you decide to take out a private student loan you will also be required to complete a Private student loan counseling session online through Fast Choice. Online counseling will aid you in knowing what your rights and responsibilities are in regards to private student loans. You will also be required to complete a “Self Certification Form”; in order to complete Section 2 of this form you will need to contact the financial aid office. Below are the steps needed to apply for a Private Student Loan.
Please be aware that if you are not actively using the Fast Choice website, it may timeout and you will have to begin the process again.
- Complete the online counseling called “Borrowing Essentials” at our Fast Choice website. Please note that this counseling session called “Borrowing Essentials” is an interactive online counseling session and you will need to closely read the information provided. Please read and continue each page of the counseling session until it is completed.
- Loan Options: Hit continue until you get to the page “How Your Loan Options Are Determined,” read and click on the box stating that you have read and understand this policy and continue to “Loan Options” so that you can start researching and comparing Private Student Loans. Only after you complete your online counseling session will you be allowed to take the next step. To get started, click here for Fast Choice.
- Compare Private Loan Lenders. You can research and compare various private student loans at the above Fast Choice website. You can compare 3 lenders at the same time with an “Apply Now” option for each lender.
- Complete a Private Education Loan Applicant Self-Certification Form. Private Ed. Loan Applicant Self Certification Form (PDF)
- The Final Step is to Mail the Private Education Loan Applicant Self-Certification Form to the private loan lender of your choice. All students who choose to take out a private student loan are required to fill out this form and mail to the lender. To complete the Self Certification Form, you may need to contact the financial aid office to provide information for Section 2 of the form.
The government has established a statutory schedule to determine the amount of federal Title IV funds a student has earned as of the date he or she ceases attendance. The amount of federal Title IV Program assistance earned is based on the amount of time the student spent in academic attendance; it has no relationship to the student’s incurred institutional charges.
Once institutional and/or student liability has been determined, the refund is distributed to the Federal programs in the following order:
- Direct Federal Unsubsidized Loan
- Direct Federal Subsidized Loan
- Direct Federal Parent PLUS Loan
- Federal Pell Grant
- Federal SEOG (supplemental educational opportunity grant)
- Other federal, state, private, or institutional student financial assistance
Satisfactory Academic Progress (SAP) Policy For Financial Aid
Students applying for financial aid must demonstrate satisfactory academic progress (SAP) in their degree program. Academic progress is measured by Qualitative (grade based) and Quantitative (Time-related) Standards set forth by the federal government and shall be used to determine eligibility for participation in student financial aid programs at Life Pacific College. Each student’s academic progress will be evaluated at the end of every semester as part of determining their eligibility for financial aid. The federal government mandates that students must be making SAP toward a degree in order to maintain financial aid eligibility.
In order to receive financial aid, students must maintain a minimum cumulative grade point average (GPA) of 2.0 in progressing towards the A.A and/or Bachelor’s degree(s) offered by the College. At the time of review, a student’s official cumulative GPA is evaluated to determine whether qualitative standards are being met.
To quantify academic progress students must not exceed the maximum time frame in which to finish their educational program.
The maximum time frame for completion is 150% of the published length of the program. For instance, if the published length of a program is 128 units, 150% of 128 units are 192 units. The student must complete his or her program by the time he or she reaches 192 attempted units. Therefore, in order for students to complete their program within the maximum time frame students must complete a minimum of 67% of all units attempted.
Units Completed and Attempted
All units transferred in from another college must be counted as hours toward completion of the student’s program as both hours attempted and hours completed. Completed units are enrolled units for which credit is received. Courses in which a student receives a grade of F, IN, WP, or WF will not be counted as completed units for satisfactory academic progress purposes, but will be counted as attempted units. Furthermore, if a student completes the academic requirements for a program but has not yet received a degree, the student is no longer eligible for aid.
Students may receive financial aid for repeated courses taken to improve a grade and raise the cumulative GPA; however, all prior attempts will still be considered as attempted units for financial aid purposes.
Failure to Maintain Standards
The academic progress of aid applicants is reviewed at the end of each semester/payment period. Students failing to meet the minimum qualitative or quantitative standards required for maintaining satisfactory academic progress will be placed on Financial Aid Warning and will continue to receive Title IV aid for one payment period/semester. The student will be notified of this status and requirements necessary to meet SAP by the end of the next semester/payment period. If at the end of the next semester (time of review) the student has not met SAP standards the student will no longer be eligible to receive financial aid.
The Appeal Process
Appeals for re-establishing eligibility may be based on extenuating circumstances that prohibited the student from meeting SAP standards during the warning period.
Examples of extenuating circumstances include:
- Death of an immediate family member
- Documented Illness
- Major accident or injury (Self, child, or parent)
- Victim of a crime or unexpected disaster
The student must submit an appeal letter to the Financial Aid Office that addresses the following:
- Why the student failed to make SAP standards;
- What has changed that will allow the student to make SAP at the next evaluation.
A committee will review the appeal and contact the student once a decision has been made. The committee will decide one of the following:
- If it is determined that the student will be able to make SAP standards by the end of the next semester/payment period, financial aid will be reinstated, OR
- The student will be required to meet with a representative of the Academic Office or the Registrar’s Office in order to come up with an academic plan that will ensure the student is able to meet SAP standards by a specific point in time. Financial aid will be reinstated as long as the student is meeting the requirements of the academic plan, OR
- The appeal will be denied and the student will no longer be eligible for financial aid until the student has successfully completed enough units to prove SAP standards can be met.
1098T Tax Form Information
Please understand that the Student Accounts Office cannot offer tax advice. If you have questions about the 1098T form and tax credits, please contact your tax preparer or follow the links to the IRS provided at the bottom of this page.
What is a 1098T form for?
A 1098T form is for a student or parent of a student to use to claim a Hope and Lifetime Learning Education Credit when they file their taxes. The Hope is based on tuition and related expenses required for enrollment or attendance at an eligible institution. For more information, please go to the links at the bottom of this web page.
When are the 1098T forms mailed?
By the end of January, the Student Accounts Office mails out the 1098T form for the prior tax year. Please note that we will not give “estimates” for those who file taxes early. The Student Accounts Office will not email this form in a PDF due to the confidential nature of the data that is included on this form to prevent Identity Theft.
To which address will my 1098T form be mailed to?
The forms are placed in student boxes on campus for resident students.
Degree Completion / Graduate students and Recent Alumni:
The forms will be mailed to the permanent addresses you have provided LPC.
If any student has had a change of address, please contact the Registrar’s Office and provide them with your updated address.
Why is Box 1 on the 1098T blank?
The IRS requires that schools fill either Box 1 or Box 2 on the form. Life Pacific College will provide information in Box 2, which is the amounts billed for qualified tuition and related expenses.