How Recipients are Selected
Most student aid is awarded on the basis of need. Need is the difference between the cost of attendance (tuition, fees, room, board, books, supplies, and other educational expenses) and the Expected Family Contribution (EFC). The EFC is the amount the family is expected to contribute toward the student's college cost and is the result of the student submitting the FAFSA. Items such as parent income and assets (for dependent students), and student income, assets, and family size are used in determining the EFC. If the cost of attendance exceeds the Expected Family Contribution, need will exist, and every effort will be made to meet the needs with financial aid.
All federal financial aid applications for fall enrollment received on or before April 15th will be given first consideration for all federal, state and institutional financial assistance for which the student is eligible. Applications received after March 15th will be accepted and evaluated as received and will be subject to availability of funds.
Late applicants, as well as those who incorrectly fill out their application materials, may experience a considerable delay in receiving notification of their eligibility and subsequent delivery of any remaining financial aid funds.
Students whose files are completed will be notified during early summer regarding the action taken on their application. Recipients of financial aid must accept or reject the aid within 15 days of receiving notice of award.
Financial aid is subject to change depending upon federal and state appropriation.
Students may lose Title IV eligibility
if convicted of possession and sale of illegal drugs.
Grants are gifts of money that do not have to be repaid.
For each of these Grants you must first complete the Free Application for Federal Student Aid (FAFSA)
Federal Pell Grant - This program is available to undergraduate students pursuing their first bachelor's degree. For the 2010-2011 academic year, Pell awards ranged from $555 to $5,500 and are awarded to students with exeptional need. These funds are prorated based on enrollment status. The amount granted depends on your financial need, cost to attend school, status as full time or part-time student and your intent to attend college for a full academic year or less.
|12+ credits |
|Full time |
| 9-11 credits |
|Three-quarter time |
| 6-8 credits |
|1-5 credits |
|Less than half-time |
- North Dakota State Incentive Grant - North Dakota Student Financial Assistance Program provides grants to assist undergraduate students in need of financial assistance. FASFA serves as an application for the program. Students must be North Dakota residents attending a North Dakota college or university. Information may be obtained from the Student Financial Aid Program, State Board of Higher Education, Tenth Floor, State Capital, Bismarck, ND 58505.
Students must meet all of the following requirements:
Information may be obtained from the Student Financial Assistance Program, State Board of Higher Education, Tenth Floor, State Capitol, Bismarck, ND 58505.
- priority is given to students who complete the FAFSA by April 15th
- be a citizen or permanent resident of the United States and a North Dakota resident
- be a high school graduate, or hold a General Equivalency Diploma (GED), and be able to meet all admission requirements as a full-time student at an eligible school
- use the Grant at an eligible college in North Dakota
- enroll as a full-time student as defined by the college you attend
- enroll in a program of at least one academic year as defined by your college
- be a first-time undergraduate student during the period of award
- not be in default on any federal financial aid loans; and
- not owe a refund on any Title IV grants or loans
Once you have been awarded the North Dakota State Grant, you may accept it online.
- TEACH Grant - The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides up to $4,000.00 per year in grant assistance to students who are completing or who plan to complete coursework needed to begin a career in teaching.
In exchange for the grant, a student must sign an Agreement to serve as a full-time teacher at certain low-income schools and within certain high-need fields for at least four academic years within eight years of completing (or ceasing enrollment in) the course of study for which the candidate received the grant. If the grant recipient fails or refuses to carry out his or her teaching obligation, the amounts of the TEACH Grants received are treated as an unsubsidized Direct Loan and must be repaid with interest.
Loans MUST be repaid.
For each of these Loan opportunities you must first complete the Free Application for Federal Student Aid (FAFSA)
- Federal Perkins Loan - Students demonstrating need for financial aid may be eligible for a Federal Perkins Loan from the college. A Federal Perkins Loan is a low-interest 5% loan for students with exceptional need who are enrolled at least half-time. The repayment period and interest do not begin until nine months after the student leaves college or falls below the half-time status.
- Federal Direct Subsidized Loans - this is a loan program available to students who are found to have a financial need. This low interest loan enables students to borrow from participating lending institutions to help pay their educational costs while attending college. Repayment does not begin until six months after the student graduates, leaves college, or is enrolled less than half-time. For a subsidized loan, the U.S. Department of Education pays the interest while you are in school at least half-time; for the first six months after you leave school (grace period); and during a period of deferment. To sign a master promissory note (MPN) for direct loan go to studentloans.gov.
- Federal Direct Unsubsidized Loans - Students who may not be eligible for any or all of the subsidized loan may apply for the difference through the unsubsidized loan. This federal loan is a non-need based loan program and is designed to assist eligible students by providing additional funds to meet the cost of education. Contact the Financial Aid Office for more information. There is no priority funding deadline for an unsubsidized loan. Students need to be enrolled at least half-time to qualify. You are responsible for paying the interest during all periods. If you choose not to pay the interest while in school, or during the grace period, the deferment period or the forbearance period your interest will accumulate and will be added to the principal amount. For more information go to studentloans.gov.
- Federal Parent Loan for Undergraduate Students (PLUS) - enables parents with good credit history to borrow money for educational expenses of each child who is a dependent undergraduate student enrolled at least half-time. To request a PLUS loan at Lake Region State College you need to complete a PLUS request process. Information on interest rates and repayment requirements are available by contacting the Financial Aid Office.
- Loan Counseling - Students receiving a Federal Stafford or Perkins loan must attend an entrance counseling session. Students may complete loan counseling by logging onto www.studentloans.gov. Students receiving a Perkins loan must complete entrance loan counseling at www.mappingyourfuture.org.
- Alternative Loans - A number of private lenders have loans that are very similar to the Stafford Subsidized and Unsubsidized Loans. A student may borrow up to the budget established for an academic year. This loan is in addition to funds already awarded either on campus or from outside sources. A borrower must have a credit history or have a credit-worthy co-signer on the loan(s). Students may select the alternative loan program they wish to use and will need to complete a separate application with the lender. LRSC, through FAST Choice, offers a Historical Lender List that includes lender we have worked with in the past.If students are interested in pursuing an alternative loan, they should contact the Financail Aid Office at (701) 662-1517.
Lake Region State College awards nearly $185,000 in scholarships to more than 200 students each year.
Applicants must complete a scholarship application. Before completing the online application you should type up the essay portion so you can cut and paste it into the application form. Essay Instructions: Write an essay about your academic accomplishments, leadership skills, volunteer services, and your connection to any of the following organizations. If you have or have had any financial or life challenges, address these in the essay as well.
List of Organizations for the essay:
| American Association of University Women ||Business and Proessional Women |
|Citizens Community Credit Union ||ND Comany structured as a COOP |
|Leevers Food, Inc. ||Lions Club |
|Crary ND Community ||Masonic Lodge |
|Montana Dakota Utilities ||Kiwanis Clud |
|Rebekahs/Odd Fellows ||Rotary Club |
|North Dakota Telephone Company ||ND Fire Department |
|Good Samaritan, Lake Country Manor, or Heartland Care Center |
Next step is to complete the Scholarship Application.
Working on campus is a great way to meet people, learn new skills and offset the cost of attending college.
If you are interested in working on campus:
Federal Work Study
Federal Work Study (FWS) - is a form of federal aid based on financial need and is awarded to students as a part of a total package. A FWS award is only an indication of a student's eligibility to seek employment: it is not a guarantee of employment. Wages are paid from a combination of federal and campus funds. Student employment helps minimize students' indebtedness. Work assignments are designed to complement students' learning experience and allow the college to utilize students' special talents.