Your financial aid award
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 Policies: 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-served 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.