The amount of financial aid available is based, in part, upon the financial need of the student. This need is determined by deducting the amount of his or her family’s contribution for college expenses from the estimated cost of attending college. Cost of attendance (COA) factors Financial Aid LIBI Assistance Grant Refund Policy 13 include estimated costs for books and supplies, transportation, and living expenses. Eligibility for all financial aid programs is determined by the filing of a comprehensive financial statement called a Free Application for Federal Student Aid (FAFSA).
Financial Holds
If a student has not fulfilled his/her financial obligations to the college from a previous semester, academic transcripts will not be issued.
Entrance and Exit Interview / Financial Counseling
Any student receiving Federal loans must be counseled concerning his/her loan. LIBI counsels each student regarding loan indebtedness and gives each student an entrance interview regarding loan programs available to ensure the student’s understanding of the amount borrowed and the student’s rights and responsibilities regarding repayment. The student must report to the Financial Aid Office before graduation or withdrawal for loan counseling - the purpose of which is to inform the student of the total loans received while enrolled at LIBI and any refunds that have been made, as well as to provide the student with an estimated payment schedule. If the student is unable to meet with the financial aid specialist, an exit interview will be mailed.
Useful Financial Aid Resources