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19

for each academic year. When completing

the application, applicants must list Lake

Region State College as a college they plan

to attend. Prior to receiving any assistance,

a student must be accepted and planning

to pursue a degree from Lake Region

State College. The college code for LRSC is

002991.

Summer Financial Aid -

Financial aid is

available to students enrolled in the summer

term. Students seeking financial aid must

have a current Student Aid Report on file in

the Financial Aid office and must complete

an LRSC Institutional Summer Financial Aid

form.

When to Apply -

To be considered for the

maximum number of financial aid sources,

the FAFSA or Renewal Application must

be received by the federal processor by

April 15. Allow 2 to 3 weeks to process the

website FAFSA and 3 to 4 weeks to process

the paper FAFSA. Due to the limited amount

of campus-based funds (Perkins Loan,

SEOG, Work Study), not all students eligible

for these funds will receive them.

Who May Apply -

Students applying for

federal financial aid must meet the following

criteria:

Be a U.S. citizen or an eligible non-

citizen

Be enrolled or accepted for enrollment

in a degree-granting program

Maintain satisfactory academic progress

toward completion of a course of study

Not be in default or owe a repayment

through the Federal Student Aid

Programs

Male students must be registered with

Selective Services

Not have a conviction for possessing

or selling illegal drugs while recieving

federal student aid

Must have a high school deploma or

recognized equivilant such as the GED

How Eligibility is Determined -

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 15 will

be given first consideration for all federal,

state and institutional financial assistance

for which the student is eligible. Applications

received after April 15 will be accepted and

evaluated as received and will be subject to

the availability of funds.

Late applicants, as well as those who

incorrectly filled 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 the early summer regarding

the action taken on their application.

Recipients of financial aid must accept or

reject the aid within 30 days of receiving

notice of the award.

Financial aid is subject to change depending

upon federal and state appropriation.

Verification -

The Department of Education

or Lake Region State College may ask

students to document the information they

provided on their application for financial

aid is correct. If students are selected, they

may be asked to verify such information

Student Information