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22

Lake Region State College

have also been extended to children, wives

and widows of deceased or permanently

and totally disabled veterans. The Student

Services office can assist with VA-

related questions. Applications and more

information can also be obtained from any

Veterans Administration Regional Office.

Vocational Rehabilitation -

Students

with physical limitations or health problems

may be entitled to certain benefits such as

tuition, fees and textbook reimbursement.

Interested students should communicate

with the Division of Vocational Rehabilitation

at the nearest district or regional office.

Waivers -

A limited number of waivers are

available annually for Cultural Diversity, and

International Students. Contact the Financial

Aid office for more information.

Financial Aid Disbursement -

Financial

Aid is disbursed during Tuition and Fee

Payment that usually occurs during teh third

week of class. Check the event calendar for

specific dates. Financial aid disbursement

is based on the student’s enrollment

status as of the 10th calendar day of each

semester. Students must be registered in

all classes, in all sessions and terms for

the semester before that date so financial

aid eligibility can be accurately calculated.

Students who register for classes after

their financial aid has been disbursed are

responsible for paying the tuition for that

class. Credits dropped after financial aid has

been disbursed but before the class begins

will result in a recalculation in financial aid.

The student may owe money back to the

financial aid programs.

Most Financial Aid (grants, loans,

scholarships, ect.) directly credits against

the amount the student owes for direct costs

such as tuition, fees, on-campus room and

board, books, etc. Financial aid that exceeds

the balance is “excess aid” and is disbursed

to the student at teh Business Office after

direct costs are paid. Direct Loan funds

recieved from the Department of Education

or funds recieved from an alternative loan,

via Electronic Funds Transfer, are credited

directly to your college account. If after Title

IV aid is disbursed there is a credit balance

on the student’s account, a refund will

be made within 14 of that credit balance.

Students may pick up excess aid in teh

Business Office. Students may direct deposit

their excess financial aid directly into their

bank account by completing the LRSC Direct

Deposit Authorization Form.

Enrollment Status

Full time

12 or more credits

Three-quarter time

9 to 11 credits

Half-time

6 to 8 credits

Less than half-time

5 or fewer credits

Return of Title IV Funds -

Federal

regulations require all institutions to

establish policy that determines the amount

of Title IV Financial Aid a student is eligible

to receive if he/she withdraws from school.

The Federal Student Aid (FSA) programs

covered by these regulations include:

Federal Pell Grants, Stafford Loans, Plus

Loans, Federal Supplemental Educational

Opportunity Grants (FSEOG), Federal Perkins

Loan and ACG Grant.

When a student withdraws before the end

of a payment period (semester), the amount

of assistance the student has “earned” (can

receive) is determined by the Financial Aid

Office. If it is determined that the student

is eligible to receive additional funds, those

funds will be disbursed. If it is determined

that the student has received more funds

than he/she is eligible to receive, the funds

must be returned. Consistent with federal

law, unearned funds must be returned to

the student aid programs in the following

order:

Direct Unsubsidized Stafford Loan

Direct Subsidized Stafford Loan

Federal Perkins Loan

Direct Plus Loans

Federal Pell Grant

Federal SEOG Grant

TEACH Grant

Iraq and Afghanistan Service Grant