Financial Aid Eligibility

To be eligible to receive financial aid at Lake Land College, a student must be enrolled at the college and meet the following requirements:

• Be a U.S. citizen or eligible non-citizen
• Have completed a high school diploma or GED
• Be accepted and enrolled as a regular student pursuing an associate degree or eligible certificate
  (Certificate programs of less than 16 credit hours are not eligible.)
• Demonstrate financial need as determined by the Financial Aid Office
• Maintain satisfactory academic progress
• Not be in default on any education loan
• Not receive financial aid at more than one school for the same period of time

Students should be aware of their Financial Aid Rights and Responsibilities.

Qualifying for Financial Aid

Financial aid eligibility is based on financial need. There is no income cutoff or other simple method of determining whether you will qualify for need-based financial aid or “free” money. However, you can estimate your eligibility by using the FAFSA4caster.

Determining Financial Need

Financial Need = Cost of Attendance  – Expected Family Contribution

Your financial need determines the maximum amount of need-based financial aid (grants, subsidized loan) you can receive. Non-need based loans (unsubsidized loan, PLUS loan) may be used to replace the Expected Family Contribution. After your need has been calculated, your award package is determined and may include a combination of tuition waivers, scholarships, grants, work-study, and/or loans.

Amount of Financial Aid

The amount of need-based and/or non-need based aid will depend on your financial need, as well as other factors, such as the availability of funds, award limits, and award requirements.

Once your eligibility for aid is determined, you will receive a financial aid award letter from Lake Land College, which will include the awards and amounts for which you qualify. These awards are based on full-time enrollment. You can receive financial aid for less than full-time; however, the award amounts will be pro-rated based on actual enrollment.

Enrollment statuses for Financial Aid for the fall, spring, and summer terms are defined as follows:

Fall, Spring & Summer Terms
Credit Hours	Enrollment Status
0 – 5.5	Less than half-time
6 – 8.5	Half-time
9-11.5	Three-quarter time
12+	Full-time

*Note: Financial aid offered by Lake Land College cannot be transferred to any other school.