Keeping your Financial Aid

In order to keep receiving your financial aid, you must stay in good academic standing, and maintain “satisfactory academic progress.”

Lake Land College’s satisfactory academic progress standards for Federal and State financial aid recipients were established in accordance with the United States Department of Education regulations. These standards ensure that only those recipients demonstrating satisfactory progress toward the completion of their educational objective continue to receive financial assistance. The “Financial Aid Standards of Satisfactory Progress” applies to all students, regardless of previous financial aid eligibility status.

Financial Aid Programs Covered by these standards include Illinois Monetary Award Program (MAP), Illinois Incentive for Access (IIA), Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work Study Program, Federal Direct Stafford Loan (subsidized and unsubsidized) and the Federal Parent Loan for Undergraduate Students (FPLUS).

Satisfactory Progress

Financial aid “Standards of Satisfactory Progress” are measured each semester and determined by a combination of the following three elements:

1. GRADE POINT AVERAGE (GPA): Whether or not one has previously received financial aid, recipients must have attained an acceptable minimum grade point average required by the College to remain in good academic standing (see College catalog under, “Academic Standards & Regulations: Scholastic Standing – Minimum Acceptable Standards”). The cumulative GPA for financial aid includes all courses in which the student has attempted at Lake Land College, including those courses below the 040 level.GPA must meet the following minimum values:
   

   Minimum GPA	Hours
   0.0	for less than 12 hours attempted
   1.5	for 12-20 hours attempted
   1.6	for 21-29 hours attempted
   1.7	for 30-38 hours attempted
   1.8	for 39-47 hours attempted
   1.9	for 48-55 hours attempted
   2.0	for 56+ hours attempted

2. COMPLETION RATE (PACE): To continue financial aid eligibility, a student must successfully complete at least 67% of one’s official cumulative credit hour enrollment as determined at the end of the “add/drop” period. Grades of ‘F’, ‘W’, ‘I’ and ‘U’ do not meet satisfactory progress standards. A course for which a passing grade was received may be repeated one time and will count once as completed and twice as attempted. Approved developmental/remedial credits for students enrolled in a program eligible for financial aid will be included in determining satisfactory progress.
3. MAXIMUM TIMEFRAME: Regardless of any combination of course-work attempted at Lake Land College, a student may not receive financial aid beyond 150% of the student’s official academic program as measured in semester hours. Attempted credits included all earned, unearned, repeated, and transfer credits. All attempted credits count toward this limit even if financial aid was not received, or the student changes programs or pursues multiple or additional degrees.

Warning, Suspension and Reinstatement

A financial aid recipient not meeting satisfactory progress standards will be notified and placed on financial aid WARNING for the next term of enrollment. A student on WARNING status who does not then meet satisfactory progress standards will be notified and placed on financial aid SUSPENSION and lose financial aid. A student suspended from receiving financial aid must meet the Completion Rate and the Academic Standing elements explained above to regain eligibility or follow the appeal procedure explained below.

Appeal Procedure

Because unusual circumstances may influence satisfactory progress, students may file an appeal. Complete details for the appeal procedure are available from the Financial Aid Office. A personal conference with a financial aid advisor is required prior to filing an appeal. Decisions of the Financial Aid Satisfactory Progress Review Board are final. A student may appeal only one time for each element.

Policies

You can read the entire SAP policy here