Once a student has been accepted for admission and submitted all documentation
necessary to determine financial aid eligibility, a financial aid award package
is constructed.
The amount and type of financial aid for which the student qualifies, in most
cases, is determined by the results of his/her Free Application for Federal Student
Aid (FAFSA), which determines the Expected Family Contribution (EFC) that the student
and his/her family should be able to contribute toward the student's college expenses.
The EFC is deducted from your Cost of Attendance to determine the student's demonstrated
financial need.
The Financial Aid Office attempts to meet as much of a student's financial need
and direct costs (tuition, books, and room and board, if residing on campus) with a combination
of grants, scholarships, loans, and student employment programs. In constructing
a financial aid award, full-time enrollment is assumed. (See Enrollment and Attendance
Requirements for more information on enrollment statuses.) When constructing a financial aid award package, the Financial Aid Office evaluates
eligibility for individual federal, state and institutional programs. Eligibility
for grants and scholarships are considered before loans and student employment
programs are offered. Some financial aid programs have limited funding; therefore,
these programs are awarded to students with the greatest need on a first-come,
first serve basis until all available funds are depleted.
After your financial aid package is completed, you will receive an email notification
that your financial aid award is available.
The notification will include instructions on accessing your award on our secure
website, MyLC.
If an e-mail address is not available or the student opted-out of electronic communication,
the award letter will be mailed in duplicate to the student's permanent mailing
address.
A link to Understanding Your Financial Aid
Award Letter, which contains information on maintaining financial aid eligibility and individual
program requirements is included and should be read before accepting the financial
aid award.
After reviewing the financial aid award, the student will have an opportunity
to accept, decline, or reduce each financial aid program included in the award.
Awards
from Outside Sources
When determining eligibility for need-based financial aid programs, private
scholarships and grants must be considered. If the student expects to receive scholarship
assistance from a source other than LaGrange College, it must be reported to the
Financial Aid Office.
Adjustments to the student's financial aid award may be necessary according to
his/her financial need and program guidelines. Typically, need-based loan assistance
is reduced first, if necessary.
Enrollment
and Attendance Requirements
The amount of financial aid you can receive for a semester or quarter is
based on your enrollment status at the end of the drop/add period and class attendance. Federal regulations mandate that only courses required for your
degree program be used in determining your enrollment status for financial aid
purposes. It is also important to note that as a financial aid recipient federal student
aid regulations permit only one repetition (repeat) of a previously passed course in determining your enrollment status.
(See " Repeated
Course Limitation " below) The chart below reflects the minimum credit hours required for financial
aid recipients to be considered full-time, three-quarter or half-time during a
semester.
Enrollment
Status |
Full-Time |
3/4
time* |
Half-time |
Undergraduate |
12 |
9 |
6 |
Graduate |
6 or more |
N/A |
3 |
*Only applies to
Federal Pell Grant
Regular
class attendance is required to establish eligibility for your financial
aid award. If it is determined that a student's attendance in a course(s) cannot be documented
by the instructor(s), the student will not receive financial aid for the course(s).
As a result, the student's financial aid award will be cancelled or reduced to
reflect the courses in which attendance was established. The student will be responsible
for repaying any financial assistance for which he/she is deemed ineligible. Failure
to resolve the overpayment can result in your ineligibility for future financial
assistance at any college or university until the overpayment is resolved.
Financial aid is awarded under the assumption that the student will attend
school for the entire academic year or semester for which financial assistance
was awarded. The financial aid award of a student who does not enroll for a semester
will be canceled and all funds returned to the applicable financial aid programs.
Repeated
Course Limitations
Financial aid funds are expected to be used to cover those courses required to complete a student's chosen major. Effective July 1, 2011, a previously passed
course may only be repeated once and be counted as credit in determining a student's
enrollment status (full-time, part-time, etc.). Any repetition of a class after
passing it the second time, will not count in the student's enrollment status.
Withdrawal
Procedures
Occasionally, it may be necessary to withdraw from an individual course or from
all classes in a semester/quarter. If this should be necessary, it is the student's
responsibility to initiate the withdrawal by contacting the Source Center.
If the student fails to follow the withdrawal process, financial aid awards
for subsequent terms of enrollment will be canceled. It will be the student's responsibility
to contact the Financial Aid Office to request financial aid if he/she returns
to school during the academic year for which aid was originally offered. It should
be noted that the financial aid award will be based on available funds at the time
of the request.
In the event you completely withdraw (officially or unofficially) from school
before the sixty percent (60%) point in time of the term, a refund calculation must be performed to determine
the amount of financial assistance that the student earned for the portion of the
semester completed. Funds received that are greater than the amount earned must
be returned by LaGrange College and the student to the financial aid programs funding his/her education. Failure to do so can
result in the student's ineligibility for future financial assistance.
If at any time you are considering dropping courses or changing your enrollment
status, you should consult the Financial Aid Office before making a final decision
to determine the effect on your financial aid eligibility.
LaGrange College Refund Policy and Return of Title IV Refund Policy
The Higher Education Act (HEA) of 1998 included provisions governing what
must happen to your federal financial assistance in the event you completely withdraw
from school in any semester/quarter. If a student withdraws from LaGrange College,
the College or the student may be required to return some of the federal, state,
and institutional aid funds awarded to the student. The student may be eligible
for a refund of a portion of the tuition and fees paid to LaGrange College for
the semester/quarter.
If you should withdraw from classes, it can have an impact on your financial
aid eligibility and grade point average (GPA). Frequent withdrawals from classes
can affect your Satisfactory Academic Progress standing which can adversely affect
your eligibility to participate in financial aid programs. Please carefully read
our Satisfactory Academic Progress policy to prevent any potential issues with
your financial aid.
REFUND
AND REPAYMENT POLICIES
No refund of any nature will be made to any student who is suspended or
dismissed for disciplinary reasons.
No refund will be made for individual courses dropped after the end of the
drop/add period as established by the school calendar.
Refunds will be processed within thirty (30) days of notification of a Complete
Withdrawal. A Complete Withdrawal date is defined by:
Return
of Title IV REFUND POLICY – TUITION AND FEES
A student withdrawing from the College must submit a Complete Withdrawal Form , which may be obtained through the Source Center. The student should also consult
the Financial Aid Office and the Business Office to determine the financial consequences
of a Complete Withdrawal.
The U.S. Department of Education requires all unearned Title IV funds to
be returned to the program from which such aid was awarded. The College will credit
a student's account for all unearned institutional charges. The Department of Education
defines institutional charges as "all charges for tuition, fees, and room and board,
and expenses for required course materials, if the student does not have a real
and reasonable opportunity to purchase the required course materials from any place
but the school."
In the event of a Complete Withdrawal from the College, refunds of institutional
charges will be calculated using the number of days completed. The College will
calculate the dollar amount of federal grant and loan funds the student has earned
during the term by dividing the number of days a student actually completed by
the total number of days within the term (excluding scheduled breaks of five days
or more). The resulting percentage is then multiplied by the amount of federal
funds that were applied to the student's account. This is the amount of Title IV
funding the student actually earned. The remainder will be returned to the originating
program. If the resulting percentage exceeds 60 percent, the student would be entitled
to 100 percent of the federal funds. Refunds of tuition will be applied to the
student's account in the same manner as the return of federal funds. After the
student has completed 60 percent of the term, there are no refunds of institutional
charges.
In certain cases, these refund requirements may leave indebtedness on the
student's account. This may also require the student to reimburse the U.S. Department
of Education for some or all of the applicable Federal Pell and SEOG funds. It
is, therefore, imperative that students fully discuss the ramifications of a Complete
Withdrawal with the Financial Aid Office prior to making a final decision.
Refunds will be returned in the order indicated below:
REFUND
POLICIES – ROOM AND BOARD
If a student does not enroll, the room deposit is refundable if the student notifies
the College in writing of his/her cancellation no later than May 1st. There is
no refund of room deposits after this date. No refund of room or board will be
made if a student withdraws from the dormitory after Registration. In the event
of a Complete Withdrawal from the College, there is no refund of ROOM charges.
The BOARD charges will be prorated at the rate of $15 per day from the move-in date.
STUDENT REPAYMENT POLICY
Students who receive cash disbursements after Registration for that enrollment period will be assessed liability for repayment of the appropriate percentage of the refund due to the Title IV programs upon withdrawal, expulsion, or suspension. Students who receive cash disbursements that are attributable to Federal Pell or SEOG programs may owe a repayment of these funds to the College to prevent an overpayment. A student who owes a repayment will be deemed ineligible for any financial assistance from any source until the student has resolved the overpayment. Repayments will be allocated to the student aid programs in the following order: Pell Grant, SEOG, TEACH Grant, other Title IV programs, and then to the institution. Students have 45 days from the date of their notification to make arrangements for repayment of the aid received. If they fail to make satisfactory arrangements within the 45-day time period, the account will be submitted to the U.S. Department of Education and the student could lose future eligibility for financial aid programs.