2017-2019 College Catalog-complete1 - page 19

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paper FAFSA can be printed from fafsa.
gov if the student prefers to apply by
mail. An application must be completed
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 amount of financial aid the FAFSA
should be completed after October 1 before
the student plans to enroll. 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.
To be considered for federal financial aid
(grants, loans or work study) students can
complete the FAFSA shortly after October
1st each year.
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 spring 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 (FAFSA) is correct. As a part
of this process, students and/or parent
may be asked to provide a copy of their
Federal Tax Return Transcript and other
requested documentation. Students can
make a change to the FAFSA at www.
Student Information
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