Is career training the right direction for you? Find out! Take Our FREE Career Analysis

                    LSB OPEID: 007779    

 

One of the first steps to understanding the financial aid process is to learn the language you will hear and read. Here are a few key terms to know:

 

  • Grant: Free money – yes, money that does not have to be paid back.
  • Loan: Borrowed money - it has to be paid back over a period of time, usually after you've graduated. 
  • Interest: The amount of money you pay back in addition to the principal amount you borrow. Interest rates vary. Some loans may be subsidized. This type of student loan carries/accrues no interest charge while you are in school.
  • Capitalization:  The practice of adding unpaid interest charges to the principal balance of an educational loan, which increases the size of the loan. Interest is then charged on the new balance, including both the unpaid principal and the accrued interest. Capitalizing the interest increases the monthly payment and the amount of money you will eventually have to repay. A Cost of Interest Capitalization calculator can assist in determining the cost of interest capitalization. You can access an interest calculator at www.Finaid.org /calculator
  • Need-based aid: Aid awarded to students on the basis of their financial need. This type of aid is re-evaluated each year by the FAFSA renewal process or as a student's financial situation changes.

  • Dependent/Independent: According to the federal government, you must meet at least one of the criteria listed below to be considered Independent for the 2015-16 academic year. (Your dependency status affects the amount of financial assistance available to you)

         • born before January 1, 1992

         • a veteran of the U.S. Armed Forces
         • enrolled in a graduate or a professional program
         • married
         • have legal dependents whose sole financial support you provide
         an orphan or ward of the court until age 18 or under legal guardianship
        an emancipated minor or an unaccompanied youth who was homeless

     

  • Financial information:  Tax and assets information for you, the student, your spouse (if you are married or were married when you filed your tax return) and your parents, if you are dependent for financial aid.
  • Tax information: The federal tax returns you and your parents filed and all the W-2’s used to calculate the income reported on the 1040 forms. Federal tax returns include 1040, 1040A or a 1040EZ), and all the schedules filed for the prior year. 
  • Tax Return Transcripts: IRS issued documents containing your (and your parents if you are dependant for financial aid) filed tax return. A tax return transcript is now required if your ISIR is selected for the process called verification. A transcript can be ordered online at: www.IRS.gov and printed directly from this website.
  • OPEID:  the number that identifies the school that recieves your FAFSA information and your EFC results.  LSB  OPEID is 007779
  •  NSLDS: National Student Loan Data System contaning information on your loan record and your loan servicer information.  You will need your FSA ID to log on to the website.
[LSB news & events]

Classes Begin

The November Term 2017 classes begin
November 13, 2017
Enroll today for your tomorrow!

Read More »

LSB to Host THE MONTGOMERY COUNTY PARALEGAL ASSOCIATION April CLE Seminar

April 19, 2017, 6:00 p.m.

Lansdale School of Business

400 Franklin Avenue, Franklin Commons

Phoenixville, PA  19460


Read More »

NRCMA Certification Test Dates

If you wish to take one of the certification tests, you must notify Donna Romano three weeks before the payment deadline for an application.

Read more for further details.

Read More »

Lansdale School of Business is honored with Century Award

 

Read More »
[LSB testimonials]

I was interested in LSB because it was a small school with flexible schedules so I could tend to my family's needs. I am soon to graduate and just completed my externship at a Dermatologist's office where I have accepted a position as a Medical Assistant. I am so happy with what I learned at LSB, and though it was challenging, it was well worth it.

Read More »

LSB provides a well-rounded program with diversity in the courses offered. I've been introduced to many areas within the Legal field that I'll encounter when job searching. The Instructors offer excellent expertise and use their own personal industry examples to help students learn. A mock trial in Criminal Law class allowed students to participate in a trial officiated by a Professional Judge. It's been a life changing experience and has opened my eyes to a different world of learning and an understanding of the need for Community legal aid.

Read More »

I mostly like the small class sizes and the easy interaction with Faculty. After graduating I plan to continue my studies as a Forensic Accountant. LSB has prepared me to make my dreams a reality.

Read More »