LCC Financial Aid Handbook

Introduction

Philosophy of Financial Assistance

The administration of financial aid programs at Lamar Community College is designed to complement and service the educational programs of the institution. The services provided by the financial aid office are necessary for the operation of the college and will be provided through a cooperative relationship with other areas of the organization. Since the operation of the financial aid office is dependent upon federal, state, and local resources, our philosophy is to utilize those funds to facilitate support for students, who without such aid would not be able to attend this institution.

The College accepts the Federal Need Analysis Methodology as a fair and equitable means of determining the student’s or the family’s ability to contribute to the student’s educational expenses. Lamar Community College requires all students and/or parents to submit the Free Application for Federal Student Aid (FAFSA) to apply for financial aid. This application is web-based and can be completed online at www.fafsa.gov.  A paper copy of the FAFSA form may be requested from the Office of Financial Aide. 

LCC Student Financial Aid

1. The primary purpose of LCC’s financial aid program is to provide financial assistance to students who, without such aid, could not attend college.
2. Financial assistance consists of grants, scholarships, loans, and employment. This assistance may be offered to a student singularly or in various combinations, referred to as a “financial aid package.”
3. Selection of a student to receive financial aid at LCC is the result of a student’s demonstrated financial need, and/or academic achievement, without regard to sex, race, creed, color, age, veteran’s status, national origin, or individual handicaps.
4. A student who receives financial aid should provide a reasonable part of the total amount required to meet college costs by accepting employment, a loan, or both. All students are expected, either on their own, if self-supporting, or in conjunction with their parents, if dependent, to contribute to the cost of their education.

Review and Cancellation of Awards

In accordance with the Higher Education Act [Amd. 1998- Title IV, Part F, Section 479A(c)] [Code of Federal Regulations: 34 CFR 682.603(e)], Lamar Community College reserves the right to review and cancel the financial aid awards at any time because of changes in financial resources, residency, marital status, or because of the recipient’s failure to remain in good standing at the College for financial aid, academic, or disciplinary reasons. Award adjustments can be made if additional information concerning a student’s eligibility is received after awards are made. Any information that is considered to be misleading will result in cancellation of aid until the information is clarified. From time to time it becomes necessary for various reasons to change the specific guidelines and requirements for any given award. These changes may occur without prior notice due to a shortage of funds or the total number of students applying for aid. 

Eligibility

In order to receive assistance from student financial aid funds, a student must be a U.S. citizen, or a citizen of the Federated States of Micronesia, the Marshall Islands, or a permanent resident of the trust territory of the Pacific Islands (Palua), or an eligible non-citizen. Students must also be over 16 years of age, enrolled as a regular student in a degree program, must maintain satisfactory and measurable progress and attend the College on a full-time or part-time basis. In addition, financial assistance is made available to students who have graduated from High School or have completed the High School Equivalency Certificate (GED). For further information concerning this procedure, please contact the Financial Aid Office at LCC.

A non-citizen is considered eligible if he/she is in the United States for other than a temporary purpose and is, or intends to become, a permanent resident. Evidence in the form of an alien registration receipt card or an approved notice from the Immigration and Naturalization Service will be required to verify permanent resident status. 

Lamar Community College’s Office of Financial Aid offers a variety of federal and state student aid programs and administers institutional scholarships. Applications for these programs are available in the Student Services Center, located in the Betz Technology Center, Room 215.

Aid from federal programs is not guaranteed from one year to the next. A student must apply every year. There are two primary steps to follow at LCC to begin the process of applying for assistance:
 

1. Apply and be admitted to Lamar Community College.
2. Complete the Free Application for Federal Student Aid (FAFSA), which is available in the LCC Student Services Office, the Southern Colorado Educational Opportunity Center Office or from high school counselors. This application may also be completed on line at www.fafsa.ed.gov.

The financial aid award year begins with fall semester (August through December), continues with spring semester (January through May), and concludes with the summer semester (starting May or June of the following year). Apply as soon as possible after January 1, but LCC Financial Aid recommends waiting until you have filed your taxes.

Students Rights and Responsibilities

Student Rights

You have the right to:
 

1. Know what financial assistance is available from LCC, including information on federal, state, and other financial aid programs.
2. Know the deadlines for submitting applications for each of the financial aid programs available.
3. Know the cost of attending LCC, the refund policy and the repayment policy.
4. Know the criteria used by LCC to select financial aid recipients.
5. Know how the College determines financial need. This process includes how costs for tuition, room and board, books and supplies, travel, and miscellaneous expenses are considered in establishing your budget.
6. Know what resources (such as parental contribution, other scholarships and financial aid, your income and assets, and other resources) are considered in the calculation of your need.
7. Know what portion of your financial need, as computed by LCC, has been met.
8. Request an explanation of the various programs included in your financial aid package, and to appeal for a review of your award if you feel that it does not adequately meet your needs.
9. Know what portion of your financial aid package is a loan that must be repaid. If your award package does contain a loan, you have the right to know the interest rate, the total amount that must be repaid, the repayment procedure, the length of time you have to repay the loan, and when the payments are scheduled to begin.
10. Know what portion of your financial aid package are earnings from part-time student employment, the conditions of employment, and how and when you will be paid.
11. Know how the College determines whether you are making satisfactory progress in your course of study, and what happens to your financial assistance if you do not make satisfactory academic progress.

Student Responsibilities

You have the responsibility to:
 

1. Complete all application materials on time and send them to the right place.
2. Pay special attention to and accurately complete your application for financial aid. Errors can result in long delays in your consideration for financial assistance and may result in your inability to receive assistance due to the lack of funds.  Intentional misreporting of information on applications for federal financial aid funds is a violation of the law and is considered a criminal offense subject to penalties under the U.S. Criminal Code.
3. Activate your LCC student email account (_______@student.cccs.edu) as soon as you are admitted to LCC and regularly check your email thereafter. Activation instructions are located in LCC’s General Catalog, Getting Started . 
4. Return promptly all additional information, documentation, verification, and/or corrections requested by either the Financial Aid Office or the agency to which you submitted your application.
5. Read and understand all papers you are asked to sign, and keep copies for your personal records. The Financial Aid Office at LCC should not be used as a holder for a student’s permanent records.
6. Accept full responsibility for all agreements you sign.
7. Notify your student loan lender(s) of changes in your name, address, and/or student status if you have a loan or loans.
8. Perform the work you have agreed to in accepting a College Work-Study award.
9. Know and comply with the refund/repayment policies and procedures of LCC.
10. Understand the conditions under which each element of your financial aid package is offered and comply with the criteria for retention of your financial aid awards.
11. Report financial aid, with the exception of loans, to the Internal Revenue Service (IRS) as income if the aid received is greater than the tuition and fees charged plus the amount paid for books and supplies. Students are strongly encouraged to contact the IRS for specific details. Students are advised to keep records of tuition and fee charges, books, supplies, etc., for all semesters that you attended during a calendar year.
12. Enroll for classes that apply towards your degree. Classes taken by audit or CLEP do not qualify as financial aid hours attempted and will be considered as non-completion of a course and will negatively affect satisfactory academic progress status.
13. Notify the Financial Aid Office if you receive assistance of any kind, from any source, that was not reported on your application for financial aid. This includes but is not limited to:

• Private scholarships/grants
• Social Security Payments
• Veteran’s Benefits
• Aid to Families with dependent Children (AFDC/ADC or TANF)
• Vocational Rehabilitation (Voc Rehab)
   

Filling out the FAFSA

When you complete your financial aid application, you should have certain records on hand. You’ll need to refer to:

1. Your tax return
2. Your parents’ tax return (if you apply as a dependent student).
3. Your spouse’s tax return (if you are married and your spouse filed a separate return).

The 2011 U.S. Income Tax Return is the most important record you will need, since you must use specific numbers from specific lines on the tax return to fill out your application.
 

Aid from most of the federal student aid programs - except for Unsubsidized and PLUS loans – is awarded on the basis of need. The primary responsibility for meeting college costs rests with the family and the student. The amount of financial aid that you will be eligible to receive is based upon your financial need as determined by a federally approved processor. Financial need is the difference between the cost of attending the college of your choice and the resources available to the student. Resources include: parents’ contribution, earnings from employment, spouse’s income, vocational rehabilitation, welfare, etc. The Financial Aid Officer will take the cost of education at LCC and subtract the amount you and your family are expected to pay toward that cost (Expected Family Contribution [EFC]). If there’s anything left over, you’re considered to have financial need.

Cost of Education includes your educational expenses such as tuition, fees, room, board, books, supplies, and other related expenses. There are two classifications of students in determining eligibility for financial aid:
 

1. Dependent Student - Students who have been or will be claimed as an exemption on their parents’ federal income tax return during this current and/or previous calendar year, or lived in their parents’ household during this same period of time.
2. Independent Student - For the 2012-2013 award year, a student is automatically independent

• if he or she was born before January 1, 1989.
• is a veteran of a U.S. Armed Forces.
• is a orphan or a ward of the court.
• has legal dependents other than a spouse.
• has dependents who live with you and receive more than half of their support from you.
• is married, or a graduate or professional student. 

The student will also be considered to be independent if the school documents these circumstances in the prior academic year. Students may appeal to the financial aid office for a review of the dependency status on a case by case basis.

Applying for Aid

Lamar Community College utilizes the Free Application for eligibility for “need-based” financial aid.  Applications are available online at www.fafsa.ed.gov, in high school counselor’s offices, and financial aid offices.  The FAFSA application should be completed as soon as possible after January 1 (recommended:  after tax returns have been filed.

The financial aid application is complete when:

1. The student is officially admitted to Lamar Community College.
2. The Office of Financial Aid has received the following documents:

• Free Application for Federal Student Aid (FAFSA);
• All income documentation and other requested information, which may consist of the federal income tax transcript, federal verification worksheet, and untaxed income verification, if requested by the College. 
• Other information as requested by the College. 

Verification

Some students applying for financial aid are required to submit certain documents for verification. The financial aid office verifies applications selected for verification by the U.S. Department of Education and others that have questionable information. Documents needing to be submitted to the financial aid office include (but is not limited to) the following: tax transcript, parents’ tax transcript, spouse’s tax transcript, W-2 forms, and other forms as requested. LCC can no longer accept copies of federal tax return forms in the verification process but is required to request tax transcripts.  Tax transcripts can be obtained from the IRS at www.irs.gov or by calling 800.908.9946. Missing Information Letters will be sent by email to students requesting documentation of items listed on their Student Aid Report (SAR).

Some students applying for financial aid are also required to complete certain institutional forms, such as: Low Income Documentation Form, Student/Parent Non-filing Statement, and explanation of financial situation.  . For students reporting a low amount of income, documentation of how expenses were met will be requested prior to awarding of financial aid. For additional information, please contact the financial aid office. 

Disbursement of Financial Aid

Financial Aid awarded in the form of grants, scholarships, and loans will first be applied towards the payment of their outstanding balance: tuition, fees, room, board, parking tickets and other charges owed to the College by the student.
Any excess amount of financial aid will be refunded to the student either by check or electronic transfer to the student’s bank account. Proper identification will be required when picking up any Financial Aid disbursement.
Students will have the opportunity in the near future to have their funds deposited into a bank account of their choice. It is the student’s responsibility to verify the proper bank information is submitted correctly and timely.

NOTE: Students who register for classes and who have accepted a financial aid offer will have their account credited for the amount of the grant and/or scholarship. Should a student decide not to attend after they have registered, they must officially drop their classes to avoid being charged. After students are awarded financial aid, they will receive an award letter. Financial aid will not be disbursed until the Census Day of each semester at which time student enrollments are verified.

Work-Study checks are disbursed through direct deposit twice monthly. The amount the student receives will depend upon the number of hours the student worked during the applicable period.

Packaging Policy

It is the intent of LCC to provide some aid to all eligible students as long as funds remain available. Most students will receive a combination of financial aid based upon their financial need and the availability of funds. This is called the financial aid “package.” The Federal Pell Grant is the base for all financial aid packages. This grant will be awarded first dependent on the student’s eligibility for the grant. State-funded assistance will go to Colorado resident students who meet all eligibility requirements as established by CCHE and/or the institution.  The Financial Aid Office at LCC will attempt to provide a financial aid package of 50% gift aid (scholarship and grants) and 50% self-help (loans and work). The percentage formula is a general guideline and does not exclude the Financial Aid Office from dealing with each applicant as an individual on an individual basis. 

Satisfactory Academic Progress

Students applying for and/or receiving Title IV financial aid are expected to maintain satisfactory academic progress consisting of meeting cumulative GPA requirements and the cumulative credit completion rate.  Failure to perform at established levels may result in students becoming ineligible for financial aid.  Lamar Community College adheres to the Satisfactory Academic Progress standards of the U.S. Department of Education and the Colorado Community College System.  CCCS policy is located at http://www.cccs.edu/sbccoe/Policies/SP/PDF/SP4-20d.pdf

Grants & Scholarships

Federal Pell Grant

Federal Pell Grant, unlike a loan, does not normally have to be paid back. It is the Federal Government’s largest student aid program and is the starting point for most students seeking financial assistance. Pell awards range from $555 to $5,550 for the 2013-2014 academic year. A Student must enroll in a minimum of 3 credit hours each term to receive a Federal Pell Grant. The grant can be awarded retroactively to students throughout the year provided the student is still enrolled. Students who have received a BS/BA degree are not eligible. Students who enroll at LCC and also at another site within the same term are eligible to receive a Pell award for enrollment at only one site.

Federal Supplemental Educational Opportunity Grant (FSEOG)

This grant ranges from $100 to $4,000 per academic year and is available to students with exceptional financial need who are eligible to receive a Federal Pell Grant. Students must be enrolled in minimum of 6 credit hours to be eligible for this grant.

Colorado Student Grant (CSG)

This grant is available to students who are Colorado residents, demonstrate a financial need up to 150% Pell eligibility. Students must be enrolled in minimum of 6 credit hours to be eligible for this grant.

Scholarships

Scholarships are awarded on a yearly basis to those students who meet scholarship criteria and have a completed the scholarship application by the scholarship’s deadline date. Scholarships are reviewed each semester and will be terminated if a student’s does not meet the required satisfactory academic progress requirements or individual scholarship criteria. Most scholarships are for fall and spring semester. Some scholarships may be renewed for a second year.

Student Loans 

LCC screens 100% of student loan requests.  It reserves the right to refuse to originate/certify a student loan per 34 CFR 685.301(a)(8).  Decisions must be made on an individual student basis, and LCC must provide the student with written explanation if a loan is reduced or denied.  If a student has more than $21,000 in aggregate student loan debt, he or she initially will be denied the student loan (by written letter).  A student may appeal the reduction or denial decision by writing a letter to the Vice President of Administrative & Student Services documenting all pertinent reasons.

Federal Direct Subsidized Stafford Loan

This loan is available to students who have demonstrated financial need. The loan is secured through the William D. Ford Federal Direct Loan Program. A student may obtain a loan up to $3,500 for freshman status and $4,500 for sophomore status (students who have completed 30 credit hours or more), based on documented need. Cumulative subsidized loan limits for an undergraduate student are $23,000.

There is no loan payment or interest charged while the student remains in school at least half-time. Students must begin repaying the loan at a fixed rate, capped at 8.25%, six months after they graduate, leave school, or are enrolled less than half-time. These loans are from the Federal Government through the U.S. Department of Education.

Federal Direct Unsubsidized Stafford Loan

This loan is not based on financial need. The borrower is responsible for the interest payments. Students may receive both a subsidized and unsubsidized Direct Stafford loan, but the total may not exceed annual Stafford loan limits. Repayment may be made monthly or quarterly. Interest will be charged/accrue and may be capitalized.

Students must begin repaying the loan at a fixed rate, capped at 8.25%, six months after they graduate, leave school, or are enrolled less than half-time. These loans are from the Federal Government through the U.S. Department of Education.

Federal Direct Parent Loan for Undergraduate Students (PLUS)

This loan is for the parents of dependent students. Parents may borrow up to the cost of attendance per child (minus other aid). Repayment typically begins sixty days after the final disbursement for the period of enrollment for which you borrowed. Fixed rates are based on when the loan starts repayment.

Student Loan Application

Entrance Counseling and Master Promissory Note

Students must go on-line at www.studentloans.gov to complete Entrance Counseling and to sign the Master Promissory Note. Freshman may apply for up to $3500 per year and sophomores up to $4500 per year. Entrance Loan Counseling is mandatory prior to disbursement of proceeds for first time borrowers. In addition, loans will not be applied to student accounts until at least thirty days  in to class each semester. Loans must be certified by the last day of attendance for the semester in order to be approved and disbursed. The Entrance Counseling teaches and informs the student about loans. The Master Promissory Note is an agreement between the Student and the Federal Government.

In accordance with the Higher Education Act [Amd. 1998 - Title IV, Part F, Section 479(c)] [Code of Federal Regulations: 34 CFR 682.603(3)] a school may refuse to certify a loan (or portion of a loan) if the reason is documented and provided to the student in writing.  The intent of this regulation is to assist schools in controlling their student loan default rate.  As part of LCC’s default management effort staff evaluates every loan application individually and reviews all relevant criteria including but not limited to aggregate student loan debt, academic progress, grade point average, and level of enrollment.  Loan reductions and denials, when required, are provided to the student by paper letter.  A secondary appeal process is available, requiring the appealing student to write a letter to the Vice President of Student Services including applicable documentation.  

Loan Paperwork

Students are required to submit the FAFSA prior to having a Direct Loan processed by the Financial Aid Office. Once the FAFSA is completed, Entrance Counseling and a “Master Promissory Note” must be submitted online at www.studentloans.gov. Additionally, first-time student loan borrowers are required to attend an Entrance Counseling session in-person on the LCC campus.

A “Loan Acknowledgment Request Form” will need to be completed and submitted to the financial aid office.

Loan Confirmation Process

Federal regulations require a confirmation process in order to help the student control the borrowing process. Lamar Community College has adopted the active confirmation. The student will not receive a disbursement until the borrower submits a loan request form accepting the proposed loan type and amount or request changes to the proposed loan package.

Disbursing Federal Student Aid Funds

Lamar Community College disburses grant and scholarship aid after the census date of each semester and disburses loan funds after 30 days into the semester. The institution will notify borrowers when Federal Direct Loans are credited to their account. This is called the Loan Disbursement Letter. The borrower will receive a letter with the following information: amount of the loan, the loan type, the date, and the right to cancel the loan proceeds or the procedures to cancel the loan. The notification will be sent no earlier than 30 days before and no later than 30 days after crediting the student’s account.

Exit Counseling

Students that enroll in less than 6 credit hours, or graduate are not considered to have half time or above enrollment. Students enrolled less than half time are required to complete loan exit counseling at www.nslds.ed.gov.  Student Services hold transcripts and diplomas for student borrowers until exit counseling has been completed.

Proration of Annual Loan Limits

Student loans will be determined by prorating the limit applicable for a full academic year by a ratio equal to that of the remaining balance of the student’s length of program remaining. The annual maximum loan amount an undergraduate student may borrow must be prorated in certain situations.
 

• When the student is requesting a loan period of a single term;
• When the student is enrolled in a program that is shorter than a full academic year; and
• When the student is enrolled in a program that is one academic year or more in length, but is in a remaining period of study that is shorter than a full academic year.

In some cases, the actual loan amount that a student is eligible to receive (based on costs, EFC, and other aid) may be less than the prorated loan limit. If an academic program is shorter than a full academic year in length the following calculation will be used:

Semester hours enrolled in program
—————————————————————-
Semester hours in academic year

OR

Weeks enrolled in program
—————————————-
Weeks in the academic year

Prorating loan limits for remaining periods of study shorter than an academic year

Students who are enrolled in the remaining periods shorter than an academic year will have their loans prorated. This may occur when a student is enrolled in a program that is one academic year or more in length, but the remaining period of study needed to complete the program will be shorter than an academic year.

Proration is required only when it is known in advance that a student will be enrolled for a final period of study that is shorter than an academic year. If a student originally enrolls for a final period of study that is a full academic year in length, but completes the program early in less than a full academic year, it is not necessary to retroactively prorate the annual loan limit. 

In accordance with the Higher Education Act [Amd. 1998 - Title IV, Part F, Section 479A(c)] [Code of Federal Regulations: 34 CFR 682.603(e)] a school may refuse to certify a loan (or portion of a loan) if the reason is documented and provided to the student in writing.  The intent of this regulation is to assist schools in controlling their student loan default rate.  As part of LCC’s default management effort staff evaluates every loan application individually and reviews all relevant criteria including but not limited to aggregate student loan debt, academic progress, grade point average, and level of enrollment.  Loan reductions and denials, when required, are provided to the student by paper letter.  A secondary appeal process is available, requiring the appealing student to write a letter to the Vice President of Student Services including applicable documentation. Students with an aggregate loan debt of $20,000 or higher are subject additional review.

Work-Study

Students who are interested in the work-study program need to see the Financial Aid Office to determine their eligibility for the program, and submit a resume. The Financial Aid Office will instruct students as to what positions are currently available at LCC. It is the intention of LCC to provide employment opportunities through the Federal and State funded college Work-Study Program which are beneficial both financially and experientially.
 

1. Each student who accepts employment through these programs is expected to know the following policies and procedures, and to follow them:
2. A student should clearly define his/her duties and responsibilities, work days and hours with the supervisor. Students will be held accountable for maintaining established work days or hours.
3. If a student is ill or unable to report to work, always contact the supervisor in advance to either notify him/her of illness, or to rearrange work hours.
4. When at work, it is inappropriate to have friends visit or to make personal phone calls.
5. The supervisor will submit work-study time sheet to the Business Office in accordance with their deadlines. Time sheets must be signed by the designated supervisor and must accurately represent work hours during that time period. Falsification of a time sheet will be reported to the Federal Office of Inspector General for prosecution.
6. All students are paid biweekly in accordance with the Business Office pay schedule. All work study positions through financial aid are paid at minimum wage ($7.64 per hour).
7. Students average 10 hours per week during the semester.
8. Please be advised that College Work-Study awards are based upon the availability of funds and may be revised during the school year without prior notice. In that event, every reasonable effort, through student loans, other jobs, etc., will be made to assist a student for the remainder of the year.

Federal Work-Study

Federal funds are made available to assist students with their college financing through part-time campus employment. Students approved for this program can be eligible to work a maximum of 20 hours per week when school is in session and 35 hours per week on breaks (depending on the position and the student’s unmet financial need).

Colorado Work-Study

State funds are made available to assist Colorado resident students with their college financing through part-time campus employment. Students approved for this program can be eligible to work a maximum of 20 hours per week when school is in session and 35 hours per week on breaks (depending on the position and the student’s unmet financial need).

Colorado No-Need Work Study

State funds are made available to resident students even though they show no need for financial assistance with their college financing. This program allows no-need students an opportunity to receive on the job experience, which is helpful when looking for employment after graduation.  These positions have the same requirements as the other work-study positions but they are not limited by need. Students must submit the FAFSA to qualify for this program.

Note: If a student changes his/her enrollment status to less than halftime during the semester, their eligibility to participate in any work-study ceases immediately.

Prior to beginning work, students must be cleared to work by the Financial Aid Office and all paperwork must be completed for payroll. The documents needed are I-9 forms, copies of original driver’s license and social security card, withholding information, etc. The Business Office will direct students in the completion of the work-study packet. 

LCC Financial Aid Budgets

(based on a 9 month academic year)

The College accepts the responsibility for developing realistic student cost allowances based upon the Colorado Department of Higher Education (CDHE) survey. The budgets established for student cost allowances seek to reflect accurate cost of living and direct educational costs estimates. The College will adjust the budget yearly to remain within the budget parameters established by CDHE.
 

**Tuition, fees, and Room/Board are subject to change.

The above budgets are for students enrolled in 12 credit hours each semester. For summer term budgets, please check with the financial aid office.   

Refunds & Repayments

When a student receives Title IV funds or state aid (either directly or by credit to their account) and he/she terminates enrollment prior to the end of the semester, the financial aid received is subject to either refund or repayment.

Institutional Refund

The College will refund 100 percent of tuition and student fees collected for a term if the student officially withdraws prior to the Census Day (end of add/drop period) of the class term for which the tuition and fees were paid. The refund will be applied to the appropriate financial aid program.

Post-Withdrawal Disbursement

Financial aid recipients who withdraw before each term’s census date are subject to a post-withdrawal disbursement. The institution will disburse to a student any amount of a post-withdrawal disbursement of grants not credited to student’s account no later than 45 days after the date the institution determines the student withdrew. The college will notify the student if he/she is subject to loan funds. The student is required to notify the financial aid office within 14 days from the date the student received notification to accept loan funds.

Repayments

There are two kinds of repayments of financial aid a student may have with different repercussions if not resolved in a timely manner. Both happen after a financial aid disbursement has been made. They are the results of a schedule adjustment or a total withdrawal.

Schedule Adjustment Repayment

Financial aid is disbursed based on a particular level of enrollment. When for whatever reason, there is an adjustment down to a lower level of enrollment and a disbursement has occurred, the student may owe a repayment of funds received.  

Total Withdrawal Repayment

 A total withdrawl repayment occurs when a student withdraws or fails (receives a failing grade) in some of all of his or her courses.  LCC must determine the percentage of financial aid earned as a function of the number of days attended divided by the number of days in the payment period.  The financial aid office will determine the withdrawal date no later than 30 days after the earlier of:
 

• End of payment period or the period of enrollment
• End of the academic year
• End of the student’s educational program

If the return calculation results in an amount to be returned to the Department of Education, LCC will return the required amount creating a bill at LCC on the student’s account. 

Lamar Community College returns on behalf of financial aid recipients will be credited to the appropriate financial aid program in the following order:

For additional information on Refunds and Repayments and examples, contact the Financial Aid Office. 

Buying Books with Financial Aid

If the amount of the student’s financial aid award exceeds the tuition, fees, room and board charges for that term, he/she may charge books and supplies against the remaining balance at the Campus Bookstore. The Bookstore will verify whether a student has any remaining balance.

Students wishing to authorize that their Federal Title IV Financial Aid cover charges in addition to tuition, fees, room, and board must sign an authorization form in the LCC Student Services Center.  Extra charges will only be allowed once this form is signed by the student.

If a student has not yet been awarded financial aid and/or is just beginning the application process, one may request his/her application be reviewed to determine eligibility for a “Bookstore Voucher” which allows the student to charge books against one’s anticipated financial aid. Bookstore charges are added to other charges at the college. When the student’s financial aid is awarded and processed, these charges will be automatically paid from the aid and any remaining aid will be disbursed to the student through the Cashier’s Office located in Student Services Center. Any charges unmet by financial aid are the responsibility of the student.

General Information

Definitions of Commonly Used Terms

See “Definitions of Satisfactory Academic Progress Status” above for financial aid statuses and their designations.

Academic Advisor:

All students receiving financial assistance should have an academic advisor, and should consult with this advisor when preparing class schedules (this includes students in the general studies program). Inappropriate selection of classes will not be an acceptable excuse for failure to make satisfactory and measurable academic progress.

Course of Study:

Students must enroll in an eligible program that leads to an associate degree or in an eligible certificate program.

Declaration of a Major:

Every student who receives financial aid must have declared an academic major to be eligible for aid. Financial assistance may be given to students who are in the general studies program as long as the student is enrolling in courses to satisfy the federal education requirements. Students who need to take remedial courses are limited to 30 hours of remedial courses that will be covered by financial aid. All attempted hours in the remedial courses are counted, including withdrawals. Students who need additional remedial classes once they have taken 30 hours will need to pay for those classes on their own.

Incomplete:

An incomplete (I) grade is one given for which no credit was earned. An “I” grade is considered a non-completed course accoring to SAP.  When the course is completed and a satisfactory grade earned, the student may request a recalculatin of SAP status. 

Official Withdrawal:

A student may officially withdraw from his or her courses by: 1) completing a withdrawal form and submitting it to Student Services, or 2) withdrawing from the course(s) online through Lope Access (student portal).

Repeat:

A student may only receive financial aid for the same course repeated once if previously passed. All repeats will count in the student’s measurable academic progress calculation. Students should not repeat a class if they have an incomplete grade in that class.

Self-help:

Self-help awards consist of long-term student loans and part-time employment, and they should be included as not less than 50 percent of every student’s financial aid package. All students are expected to make a commitment, from both current and future earnings, to the financing of their education. The implications and responsibilities inherent in the acceptance of such student aid shall be clearly explained to each student offered one or the other, or both forms of assistance.

Transfer Student:

A student from another post-secondary institution who enrolls at LCC for the first time shall be assumed to be making satisfactory progress without submitting transfer transcript. The policies of satisfactory progress at LCC shall apply to such a student after his/her enrollment. This student may, however, deem it necessary to provide the College with a copy of a transfer transcript. 

Statement of Nondiscrimination

Lamar Community College does not unlawfully discriminate on the basis of race, color, religion, national origin, sex, age or disability in admission or access to, or treatment or employment in, its educational programs or activities. Inquiries concerning Title VI, Title IX, Section 504 and the Americans with Disabilities Act of 1990 may be referred to: Equity Officer, 2401 South Main, Lamar, CO 81052, 719.336.1572.

Questions:

If you have further questions regarding financial aid, please contact:

Teale Hemphill
Director of Financial Aid
Lamar Community College
2401 S. Main St.
Lamar, CO 81052
719.336.1590
aid@lamarcc.edu