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Many loan and grant programs such as those listed below have annual or lifetime maximums or maximum terms of eligibility. Contact the Office of Financial Aid 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 graduate 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 State Tuition Grant (WSTG), 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 Office of Financial Aid 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 Office of Financial Aid posts all outside scholarships and grant information that is received on the Financial Aid page on my.lakeland. 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 Office of Financial Aid.
Students withdrawing from Lakeland College may be required to repay some of the federal, state, and Lakeland grants and/or loans. The federal formula requires a return of Title IV aid if the student received federal financial assistance in the form of a Pell Grant, a Supplemental Educational Opportunity Grant (SEOG), a Talent Incentive Program Grant (TIP Grant), a PLUS Loan, or a Federal Stafford Direct Student Loan and withdrew on or before completing 60% of the semester. The percentage of Title IV aid to be returned is equal to the number of calendar days remaining in the semester divided by the number of calendar days in the semester. Scheduled breaks of more than four consecutive days are excluded. If any funds remain after the return of Title IV aid, they will be used to repay Lakeland College funds, state funds, other private sources and the student in proportion to the amount received from each non-federal source as long as there is no balance on the student’s account at the time of withdrawal. If there is an unpaid balance, then all aid sources will be repaid before any funds are returned to the student. |
