Financial Aid Maximums

Many loan and grant programs such as those listed below have annual or lifetime maximums or maximum terms of eligibility. Contact the Financial Aid and Educational Funding Office with questions regarding maximums on the specific type(s) of aid you are receiving.

• Federal Pell Grant 600%, which is equivalent to twelve (12) full-time semesters.
• Federal Direct Loans $31,000 for a dependent undergraduate student and $57,500 for an independent undergraduate student or a dependent undergraduate student with parent PLUS Loan denials. When borrowing the maximums each year, this is equivalent to nine (9) semesters.
• Federal Perkins Loan $27,500.
• Wisconsin Grant, Talent Incentive Program (TIP), Indian Student Assistance Grant, and Hearing & Visually Impaired Handicapped Student Grant Ten (10) semesters.
• Wisconsin Covenant programs, Minority Undergraduate Retention Grant, Academic Excellence Scholarship Eight (8) semesters.

The Financial Aid and Educational Funding Office assists students in working out financial assistance programs to cover college costs. Those who apply for need-based financial aid receive an award notification indicating the aid for which they are eligible, including grants, scholarships, loans, fellowships, and income from student employment. Students should determine before the beginning of the term how they will meet their costs and, if intending to carry a full academic load, should plan to work no more than 10 hours per week. The Financial Aid and Educational Funding Office posts all outside scholarships and grant information that is received on the Financial Aid page on my.lakeland.edu. Students are encouraged to review this information periodically as information is added as it becomes available.

Most scholarship and financial aid programs require that students enroll full-time (at least 12 semester hours per term) and complete at least 24 semester hours of graduation requirements during each academic year. Federal financial aid regulations require that students maintain satisfactory academic progress to be eligible for financial aid for future terms. (See the Financial Aid Satisfactory Academic Progress Policy ).

The award of college financial aid funds is contingent upon completion of all application and financial status forms by the required submission dates. If completed forms are not filed, particularly those relating to state and federal aid programs, students may be denied enrollment for the following term and will be denied Lakeland financial assistance. All financial aid questions and requests for forms and/or assistance should be addressed to the Financial Aid and Educational Funding Office.