Financial Aid FAQs
Financial Aid FAQs
- Am I eligible for financial aid?
To receive aid from the student aid programs described in this document, you must:
- Have financial need as determined by the Free Application for Federal Student Aid (FAFSA)
- Have a high school diploma or a GED certificate Be enrolled as a LFCC degree or certificate seeking student (not all Career Studies Certificates are financial aid eligible)
- Be a U.S. citizen or eligible noncitizen
- Have a valid Social Security Number
- Make satisfactory academic progress
- Sign a statement on the FAFSA certifying that you will use federal student aid only for educational purposes
- Sign a statement on the FAFSA certifying that you are not in default on a federal student loan and that you do not owe money on a federal student grant
- Register with the Selective Service if required
If you are convicted of a drug-related offense after you submit the FAFSA, you may lose eligibility for federal student aid and you may be liable for returning any financial aid received during a period of ineligibility.
- How do I apply for financial aid?
You must ensure that you are enrolled in an eligible curriculum to receive financial aid. Eligible academic curriculums are degree and certificate programs that have been approved by the Department of Education. To apply for financial aid, follow these steps:
Step 1: Complete the Free Application for Federal Student Aid (FAFSA). You must complete this form to receive both federal and state grants. You can complete the form online. List the LFCC school code on the FAFSA to ensure LFCC receives your results. This code is 008659 on the application.You should also create an FSA ID and Password from the Department of Education. This serves as your electronic signature and can be requested at the Federal Student Aid FSA ID Website.
Step 2: Apply for admission to LFCC.
The Financial Aid Office will review your Student Aid Report (SAR) and let you know if you are eligible for financial aid. Your report might be selected for verification. If so, the Financial Aid Office will contact you and ask for additional documents via your student e-mail account.
Contact the Financial Aid Office
- Why does my account information show “financial aid pending” and “tuition due” when I’ve been awarded financial aid?
The award information is posted as “pending” until the Financial Aid Office verifies your actual enrollment for the semester, which occurs approximately two weeks after the semester begins. Once the verification process is complete, the amount of your financial aid will be disbursed to the Business Office. You are responsible for paying any tuition amount that your financial aid does not cover by the tuition due date given to you when you register for classes.
- Do I need to submit another FAFSA application for the next semester?
You complete the FAFSA application once a year prior to the fall semester. You should submit your FAFSA approximately three weeks after you submit your Federal taxes. Those results are used to award you for the fall, spring and summer semesters. There will be an application on the LFCC Web site that you will need to complete in order to be awarded for summer.
- If I don’t attend in the fall, will my financial aid carry over to spring?
The financial aid award posted is for both the fall and spring semesters. Half of the award is for fall and the other half is for spring. If you do not attend the fall semester, that amount is not carried over to the spring, only the remaining half of the award is available to be used for the spring semester. The unused half of the Pell grant may be used during the summer.
- What if my situation has recently changed (loss/decrease in student and/or parent income, change in student or parent marital status)
If there has been a loss/decrease in income for either the parent or the student since the prior year tax return was completed, a Request for Review form may be completed. The Financial Aid Office will review the form and the supporting documentation requested in order to determine if a change to the student’s EFC is warranted. A change in marital status (student or parent) that has occurred since the FAFSA form was completed may also warrant a request for review. Please contact the Financial Aid Office for more information. Request for Review Financial Aid Application.
- Why do I need to submit my tax return and the verification worksheet to the Financial Aid office when I’ve already entered all that information on my FAFSA.
FAFSA applications that are selected for verification by the Federal government require that the student submit to the Financial Aid Office copies of tax return transcripts and the appropriate verification worksheet in order for the Financial Aid Office to verify that the information submitted on the FAFSA form was submitted correctly. Financial Aid awards cannot be posted until the verification process has been completed.
- I have a confirmation from FAFSA that my application has already been processed, and my EFC is XXX and I may be eligible for a Pell grant.
The confirmation you receive from FAFSA is a confirmation that your application has been processed by FAFSA. That is only the first step in the financial aid award process. Once FAFSA processes your information and verifies that your personal information is correct, the remainder of the award process falls to the school. If your application was selected for verification, Satisfactory Academic Progress is not being met or you are not enrolled in an eligible program of study, the processing of your application by the Financial Aid Office will be delayed. It is in your best interest to continue to check your LFCC student e-mail account for information from us regarding your application and to submit missing items to us as soon as possible.
- What happens to my left over financial aid?
If your award exceeds the amount of your tuition plus the amount you spent at the bookstore, you will receive a remainder check for the balance approximately two months into the semester. You should receive your check seven to 14 business days after the award is disbursed to the Business Office. It will be sent to the address listed for you in the Student Information System. If you have moved, make sure your address is correct in order to receive your check in a timely manner.
- Can I use my Financial Aid award to purchase textbooks online?
Financial Aid monies can only be used in the on-campus Bookstore to purchase (or rent) textbooks and related supplies. If you wish to purchase your textbooks online via another vendor, you must use your own funds to do so.
- What if I want to attend another college next semester, do I have to do another FAFSA application?
If you plan on attending another college next semester, you must go back into your processed FAFSA form and add the new school’s code to your form and resubmit it. Please contact our Office to let us know that you will not be attending the following semester so that we may cancel any pending awards for you. It is also a good idea to contact the new school to let them know that you have sent your form to them for processing and to find out what their requirements are.
- What do I do if I had my FAFSA application sent to another college, but I want to go to LFCC now?
If you are currently attending another school but plan to transfer to LFCC mid-year, you must go back into your processed FAFSA form and add our school code (008659) to your form and resubmit it. Please contact our Office to let us know that you will be attending LFCC. It is also a good idea to contact your current school’s Financial Aid Office to let them know that you will no longer be attending there so that they may cancel any pending awards for you.
- Why do I need to provide my parents’ information if I am living on my own and supporting myself?
For financial aid purposes, the Government considers anyone under the age of 24 to be dependent upon their parents for support while attending college. As long as you do not meet the requirements to be considered an independent student (as noted on the FAFSA Web site), your parents’ information is required to be on the FAFSA form until you are 24 years of age. If you are unsure if you meet the requirements to be considered an independent student, please contact the Financial Aid Office for more information.
- If I want to audit a class, will financial aid pay for it?
- Financial aid will only pay for classes that are being taken for credit towards a degree. Audited classes are not eligible to be paid for with financial aid funds. If you audit a class after financial aid has paid your tuition and fees, you will owe the College the grant money paid that was not earned.
- What is the difference between Foundation scholarships and those offered through the College (e.g., College Board scholarships)?
- Foundation scholarships are funded and managed by LFCC’s Educational Foundation Inc. and are tax deductible. College scholarships are funded with monies from the localities in the LFCC service area and are managed by the College.
- How do I apply for scholarships?
- The scholarship application is available on our website at lfcc.edu/scholarships. When applying, you only need to complete one application to be considered for all available scholarships. You do not apply for each scholarship individually, nor do you apply for specific scholarships. The single application is used for all scholarships to be awarded. Some scholarships do have additional requirements that applicants need to complete in order to be considered. Also, all first time LFCC students must submit their most recent high school or college transcript to the Financial Aid Office as a part of the application process.
- When can I apply?
- The scholarship application is open twice a year (subject to change for the second application process):
- January through mid-March – awards are for the following fall and spring semesters
- August through mid-October – awards are for the following spring and summer semesters
- If I am not selected to receive a scholarship, do I need to reapply for the next round?
- If you apply during the January to March application cycle and are not selected, your application will be kept on file for the August to October cycle. If you apply during the August to October application cycle and are not selected, you will need to reapply again when the new application opens in January.
- How will I be notified that I have been selected to receive a scholarship?
- All recipients will be notified via their LFCC student e-mail account and will be given instructions as to how to accept or decline their award. Awards declined or not accepted by the specified date will be awarded to the next eligible student.
- What will the scholarship pay for?
- All scholarships are divided equally between the two semesters that they are awarded for (unless specified for one term only) and are automatically first applied towards your outstanding tuition. Depending on the particular scholarship, funds may also be used towards fees and to purchase books. Funds not used are returned to the Foundation to be re-invested for future awards.
- What do I have to do to maintain my scholarship award?
- All scholarships have stipulations – minimum GPA, credit hour or program of study requirements – that must be met and are outlined during the acceptance process. If you do not meet those stipulations the award for the second semester will be cancelled. If that happens, you will be notified via your LFCC student e-mail account.