Financial Aid Policies

Student Rights

A student has the right to:

• know what financial aid is available, including aid from federal, state and institutional programs. In addition, a student has the right to know the deadlines, selection criteria, terms, policies, procedures and regulations that apply to each of the programs;
• know how his/her financial need was determined and how much of it, as determined by the college, was met. This process includes how costs for tuition and fees, room and board, transportation, books and supplies, and miscellaneous personal expenses are included in his/her student budget;
• know, if he/she has a student loan, the terms of the loan, such as interest rate, the total amount that must be repaid, the length of time allowed for repayment, when repayment must start, cancellation provisions, deferment and forbearance possibilities and any special consolidation or refinancing options;
• appeal his/her financial aid award if he/she feels there are special circumstances that were not originally taken into consideration;
• know how the college determines whether he/she is making satisfactory academic progress and what happens if he/she is not;
• know how and when his/her financial aid will be disbursed;
• know the college’s refund policies; the portion, if any, of tuition and fees that is refunded to the student if he/she withdraws before the end of the term; and the portion, if any, of the financial aid he/she received that must be paid back immediately if he/she withdraws before the end of the term;
• expect that all information reported by him/her and/or his/her family will remain confidential and will not be released without his/her written consent according to the Family Educational Rights and Privacy Act (FERPA);
• examine (in the presence of a financial aid counselor) his/her financial aid records which are maintained in the Office of Financial Aid;
• expect equitable treatment under the college’s policy prohibiting discrimination on the basis of race, color, sex, religion, sexual orientation, national origin, disability, or veteran’s status.

Student Responsibilities

A student is responsible for:

• reading, retaining and understanding all information supplied to him/her from the Office of Financial Aid. Students are welcome to contact the Office of Financial Aid with any questions or concerns;
• promptly responding to inquiries or requests for information from the Office of Financial Aid;
• obtaining all forms required to apply (or re-apply) for the type of assistance he/she wishes to receive;
• supplying accurate and thorough information on all forms submitted to the Office of Financial Aid. Funds obtained on the basis of false information will have to be repaid and might subject the student to penalties under the United States criminal code;
• informing the Office of Financial Aid if he/she receives any type of financial aid assistance from an outside agency. By law, when determining a student’s financial aid eligibility, the Office of Financial Aid is required to consider all sources of funding;
• using financial aid funds only for educational expenses (tuition, fees, room, board, books, supplies, and other living costs);
• understanding and complying with the terms and conditions of the aid he/she receives. This includes deadlines, continued eligibility, application procedures, etc;
• notifying the Office of Financial Aid if his/her enrollment or residency status changes. This will ensure that the student’s financial aid award is based upon the correct enrollment and residency status;
• reporting a change of address or name to the Office of Financial Aid. This will ensure the Office of Financial Aid has the most recent and accurate information.
  Note: A name change requires supporting documentation;
• maintaining good academic standing consistent with the college’s Satisfactory Academic Progress Policy and the Financial Aid Satisfactory Academic Progress Policy;
• completing entrance and exit counseling, if he/she has taken out an educational loan;
• repaying all educational loans. Failure to meet this obligation will adversely affect the student’s credit rating and make him/her ineligible for future educational loans or grants;
• notifying his/her loan servicer and the United States Department of Education of any changes in name or address while and after attending school.

Financial Aid Satisfactory Academic Progress Policy

Lakeland College is required to establish and consistently apply standards of satisfactory academic progress to all students who receive funds from Title IV programs of financial assistance. The policy requires that the college use quantitative and qualitative methods to measure students’ academic progress. This policy requires a review of student progress after every term. This same policy will also apply to all students who receive funds from state or Lakeland College sources.

The qualitative measure is based on the cumulative grade-point-average (GPA). Only the highest grade of repeated courses is used in the cumulative GPA calculation.

The quantitative measure is based on the length of time needed for completion of the degree program. A student must complete the program within 150% of the time frame established. Lakeland’s Bachelor of Arts Degree requires 120 semester hours; therefore, a student cannot exceed 180 semester hours in order to complete his/her requirements (120 semester hours x 150% = 180 semester hours). On average, it takes four years to complete a bachelor’s degree; therefore, a student is allowed six years to complete the degree requirements (4 years x 150% = 6 years). Credits accepted in transfer are counted as hours attempted and earned.

An appeal process exists for anyone whose financial aid eligibility is terminated as a result of failure to meet the conditions of the Financial Aid Satisfactory Academic Progress Policy. Those students affected will receive written notice of the appeal process.

No part of this policy is housed on the student’s academic record. This financial aid policy is separate from the policy for Academic Good Standing .

Undergraduate Programs

1. Standards:

 **Students must complete 67% of the semester hours attempted with grades of “D” or better. All withdrawals, incompletes, and audits are considered unsatisfactory and must be included in the calculation. If a grade of Incomplete is changed, it is the student’s responsibility to notify the Office of Financial Aid of the grade change.

2. Review Process: Student records will be reviewed after each term.
3. Financial Aid Warning: When a student does not complete 67% of the semester hours and/or the minimum GPA requirement noted in the table, a Financial Aid Warning is imposed. Aid will continue during the term in which the student is on Financial Aid Warning.
4. Financial Aid Suspension: The student’s financial aid will be terminated for all future semesters until he/she can return his/her academic record to good standing for Satisfactory Academic Progress, if one or more of the following conditions occur:
   1. The student does not meet the criteria for Satisfactory Academic Progress while on Financial Aid Warning.
   2. The student has a conditional acceptance to the college and does not meet the criteria for Satisfactory Academic Progress.
   3. The student fails all courses in a single term (excluding May term).
   4. The student fails to meet the conditions of a Financial Aid Probation.
5. Appeal Process: There is an appeal process for students who have their aid terminated.
   1. The form and instructions are included with the written communication to the student at the time of the termination.
   2. The time allowed for completing the appeal will be communicated in the letter.
   3. The appeal committee will notify the student of the decision within two weeks of receiving the appeal.
6. Financial Aid Probation: When an appeal is granted, a student is placed on Financial Aid Probation. Probation is allowed for one term and the student must return to good standing for Satisfactory Academic Progress Policy unless the student has an approved academic plan in place which includes conditions of the probation and notes when the student will return to good standing for Satisfactory Academic Progress.
   
   Academic records will be reviewed for all matriculated students who are first-time aid applicants in order to determine if they are in good standing and making satisfactory progress. If a student does not meet the minimum standards, he/she will be placed on an immediate financial aid warning.