2012 08 07 Undergraduate Catalog Cover - Lake Erie College

FINANCIAL AIDancestry, national origin, sex, sexual orientation, handicap,disability or veteran status.Photography StatementIn the course of college life and participation in campus classesand activities, the College often has photographers taking photosof events, activities and daily life. These photos may be used forCollege promotion in advertising, printed collateral, website andother outlets. Students will not be compensated if their image isused for the promotion of the College. The Office of PublicRelations and Marketing assumes permission for photographyfrom all students unless instructed otherwise by an individual.FINANCIAL AIDFinancial Aid OfficeThe mission of the Office of Financial Aid at Lake Erie College is tofacilitate access and affordability for students choosing to pursuea course of study at the College. The Office of Financial Aidadheres to the federal philosophy that students and theirfamilies have the primary responsibility to pay for theireducation. Our mission is met by:• Providing information and services to prospective andcontinuing students and their families;• Assisting students and families in the financial aidapplication process;• Determining financial aid eligibility and making offers offinancial assistance;• Facilitating the timely delivery of financial aid funds;• Delivering financial aid to all eligible applicants in a fairand equitable manner.Financial assistance is available from a variety of sources; theamount and type are determined on the basis of financial need(Financial Need = Cost of Attendance - Expected FamilyContribution). The Expected Family Contribution (EFC) isdetermined by using the Federal Methodology Formula approvedby the U.S. Department of Education. To apply for financial aid,students must submit the Free Application for Federal StudentAid (FAFSA) to the Central Processing System of the U.S.Department of Education at www.fafsa.ed.gov.Financial aid is awarded annually. A student must submit a FAFSAeach year to be considered for federal and state aid. Timelysubmission of the FAFSA will maximize a student’s financial aidopportunities for federal and state programs. Submitting theFAFSA late may limit a student’s eligibility for those funds.Institutional aid is awarded on a rolling basis.Once a student has been accepted to the College and the FAFSAis processed, a financial aid award letter will be mailed. Whenthe award is received, a student may accept all or any part of theaward without affecting any other funds offered. Uponnotification that a student has received an award from anoutside source, appropriate adjustments will be made to thefinancial aid previously offered in accordance with federalregulations. Changes to a student’s cost of attendance could alsohave an impact on a financial award.In general, to receive financial aid a student must be enrolled atleast half-time (six credit hours per semester for undergraduatesand three credit hours for graduates). A significant number ofinstitutional and state programs require full-time attendance.Financial aid awards will be adjusted for any student who doesnot enroll for the number of credit hours upon which the awardwas based. If a student with financial aid withdraws from acourse or courses during the refund period, aid will be adjustedaccordingly. If an instructor withdraws a student from a course,financial aid will be adjusted according to the last date ofattendance reported by the instructor, in accordance withfederal regulations. Students considering a reduction in theircoursework should consult the Office of Financial Aid prior tomaking changes to determine the impact upon their financial aideligibility.Satisfactory Academic Progress is also required to maintaineligibility for financial aid. To ensure that the applicationinformation used to determine financial aid eligibility is completeand accurate, student records (including applicable parent taxreturns) may be selected for review in accordance with federalregulations. Students selected will be notified of the informationand documentation required for continued processing. Thesedocuments should be submitted to the Office of Financial Aidupon request.TUITION AND FEE PAYMENT INFORMATIONMethods of PaymentThree options are available for paying education expenses:1. Pay each semester’s expenses in full. The amount, lessfinancial aid and loans, is due on May 1–summer,August 1–fall, December 1–spring.Page | 7Lake Erie College | 2012 - 2013 Undergraduate Catalog | Student Handbook | Student Athlete Handbook