Keeping your financial aid
In order to keep receiving your financial aid, you must stay in good academic standing, and maintain "satisfactory academic progress."
Lake Land College’s satisfactory academic progress standards for Federal and State financial aid recipients were established in accordance with the United States Department of Education regulations. These standards ensure that only those recipients demonstrating satisfactory progress toward the completion of their educational objective continue to receive financial assistance. The “Financial Aid Standards of Satisfactory Progress” applies to all students, regardless of previous financial aid eligibility status.
Financial aid “Standards of Satisfactory Progress” are measured each semester and determined by a combination of the following three elements:
WARNING, SUSPENSION AND REINSTATEMENT:
A financial aid recipient not meeting satisfactory progress standards will be notified and placed on financial aid WARNING for the next term of enrollment. A student on WARNING status who does not then meet satisfactory progress standards will be notified and placed on financial aid SUSPENSION and lose financial aid. A student suspended from receiving financial aid must meet the Completion Rate and the Academic Standing elements explained above to regain eligibility or follow the appeal procedure explained below.
Because unusual circumstances may influence satisfactory progress, students may file an appeal. Complete details for the appeal procedure are available from the Financial Aid Office. A personal conference with a financial aid advisor is required prior to filing an appeal. Decisions of the Financial Aid Satisfactory Progress Review Board are final. A student may appeal only one time for each element.
FINANCIAL AID PROGRAMS COVERED by these standards include:
Illinois Monetary Award Program (MAP), Illinois Incentive for Access (IIA), Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work Study Program, Federal Direct Stafford Loan (subsidized and unsubsidized) and the Federal Parent Loan for Undergraduate Students (FPLUS).
2016-17 FAFSA Available January 1
Submit your 2016-17 FAFSA at www.fafsa.gov on or soon after January 1 in order to maximize financial aid eligibility for 2016-17 school year, which begins with the Fall 2016 term.
Financial Aid in the Laker Hub
You can now check the status of your FAFSA application and documents in the Laker Hub. Simply log in, and click on "Status and Documents" from the Financial Aid menu. Awards can also be viewed there.
Check Your Laker Mail!
Important financial aid updates and information is being sent to your Laker Mail. Be sure to check it regularly!
Get Your Refund Faster!
Sign up for Direct Deposit! Log in to the Laker Hub, click on Student Refunds-Bank Info under the Financial Information menu, and enter your info.
1/1/16 - 2016-17 FAFSA Available
1/11/16 - Spring Semester Begins
2/5/16 - Pell Refunds of Credit Issued
2/19/16 - Loan Refunds of Credit Issued
3/4/16 - Spring Bills Due in Full
4/29/16 - Final Day to Request Spring Loan
5/9/16 - Spring Semester Ends