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Keeping Your Financial Aid - Student Financial Aid - Lake Land College, Mattoon Illinois Financial Aid and Veterans Services

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.

SATISFACTORY PROGRESS: 

The financial aid “Standards of Satisfactory Progress” are measured each semester and determined by a combination of the following elements.

  • COMPLETION RATE:  To continue financial aid eligibility, a student must successfully complete 67% of one’s official cumulative credit hour enrollment as determined at the end of the “add/drop” period.  Grades of ‘F’, ‘W’, ‘I’ and ‘U’ do not meet satisfactory progress standards.  A course for which a grade of ‘F’ or ‘D’ was received may be repeated once in establishing satisfactory progress.  A student completing approved development/remedial credits while enrolled in a program eligible for financial aid will be able to include those credits toward establishing satisfactory progress.
  • ACADEMIC STANDING:  Whether or not one has previously received financial aid, financial aid recipients must have attained an acceptable minimum grade point average required by the College to remain in good academic standing (see College catalog under, “Academic Standards and Regulations:  Scholastic Standing – Minimum Acceptable Standards” pages 61-62).  In order to apply for and maintain eligibility in the Federal Stafford Loan Programs, students must have been in good academic standing at their most recent post-secondary institution.
  • TERMINATION STATUS:  Regardless of any combination of course-work attempted at Lake Land College, a student may not receive financial aid beyond 150% of the student’s program of study as measured in semester hours. 

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.

APPEAL PROCEDURE: 

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 Appeal Committee are final.  A student may appeal only one time for each situation.

FINANCIAL AID PROGRAMS COVERED by these standards include: 

Illinois Monetary Award Program (MAP), Illinois Incentive for Access  (IIA) Grant, Illinois Veterans Grant (IVG), Illinois National Guard Grant (ING), Federal Pell Grant, Federal Academic Competitiveness Grant (ACG), Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work Study Program, Federal Stafford Loan (subsidized and unsubsidized) and the Federal Parent Loan for Undergraduate Students (FPLUS).

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2014-15 FAFSA Available NOW!

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You can now check the status of your FAFSA application and documents on the Hub/IRIS. Simply log in, and click on Financial Aid "Status and Documents". Awards can also be viewed there.

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Important Dates

1/1/14 - 14/15 FAFSA Available

1/13/14 - Spring Semester Begins

2/7/14 - Pell Refunds of Credit Issued

2/21/14 - Loan Refunds of Credit Issued

3/7/14 - Bills Due in Full

5/2/14 - Final Day to Request Spring Loan

5/12/14 - Spring Semester Ends

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