Complete Your FAFSA

8 Easy Steps to Apply for Financial Aid

Help me choose my FAFSA information...

If I plan to attend LRSC:

Spring 2019

Summer 2019

Fall 2019

Spring 2020

Summer 2020

My semester will begin:

Jan 7, 2019

May 13, 2019

Aug 26, 2019

Jan 13, 2020

May 13, 2020

I will fill out the FAFSA form for:

2018-2019

2018-2019

2019-2020

2019-2020

2019-2020

I will use IRS Tax Year:

2016

2016

2017

2017

2017


1. File the Free Application for Federal Student Aid (FAFSA)
School Code: 002991

www.fafsa.gov

www.studentaid.gov

A student and parent can take steps to make the process easier. Complete your Federal Tax returns prior to completing the FAFSA. Use the IRS Data Retrieval Tool. This tool allows students and parent to access the IRS tax return information needed to complete the Free Application for Federal Students. This information is generally available 2-3 week after taxes have been filed electronically.

October 1st -- To be considered for federal financial aid (grants, loans or work study) students can complete the FAFSA. The FAFSA become available on October 1st for the next school year.

Early Spring -- Priority  funding for Supplemental Grant, Perkins Loan, Work-Study and the North Dakota State Incentive grant.

2 Weeks -- Allow at least 2 weeks for processing the electronic FAFSA 


2. Complete the Lake Region State College Application for Admission

Students must be accepted for admission as a regular student seeking a degree in an eligible program to be eligible for federal financial aid. Students must apply for and be accepted for admission to Lake Region State College before financial aid can be disbursed.

3. Check your Student Aid Report (SAR) for Accuracy

5 - 7 Days -- If you filed an electronic FAFSA, you will receive an email from the Federal Student Aid Program informing you:

  • Your application has been processed

  • How to access your Student Aid Report

  • To check your Student Aid Report for accuracy. If there is an error you need to make corrections online.

4. Verification

If you are selected for verification, the Financial Aid Office at Lake Region State College will request documentation to satisfy verification requirements such as:

  • Click here for Verification worksheets found under Forms < Financial Aid Forms

    • Independent Verification Worksheet

    • Dependent Verification Worksheet

    • Many students assume that because they are not living with their parents, are responsible for their own expenses, and are not claimed on their parents' income tax returns then they should qualify for financial aid programs as an independent student. The Federal Government has established guidelines that determine which students are considered independent for financial aid purposes and which are not. For an explanation of these guidelines, read this document to see who qualifies.

  • You should read Lake Region State College's Verification Policy

5. Award Notice

First year freshman will receive a paper award notice in April from LRSC detailing the amounts and types of financial aid the college is offering. Awards will be made on a rolling basis as Financial Aid Applications are received throughout the year.

  • You can accept your award using Campus Connection

    • In Student Center under Finances click on Accept/Decline Awards

  • You can complete, sign and return the award notice to the LRSC Financial Aid office or

  • Read more information -- Award Notice Supplement 2018-2019

6. Master Promissory Note

Student accepting a Federal Direct Loan for the first time, must complete a Master Promissory Note

7 Loan Counseling

If you are receiving a Federal Direct Loan for the 1st time, you MUST complete Entrance Loan Counseling before the 1st disbursement. Complete Entrance Loan Counseling here. 

8. Financial Aid Disbursement

Financial Aid is disbursed during Tuition and Fee Payment that usually occurs during the 3rd week of class.  Check the academic 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 classed, 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, etc.) 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 the Business Office after direct costs are paid. Direct Loan funds received from the Department of Education or funds received from an alternative loan, via Electronic Funds Transfer, are credited directly to your college account. Student may direct deposit their excess financial aid directly into their bank account by going to Forms < Business Office Forms < LRSC Direct Deposit Authorization Form.