Page 35 - Lakeshore Technical College Student Planner & Handbook 2022-2023

FINANCIAL AID
Financial Aid services are in the Student Services area. Financial Aid staff are available to help you apply for financial aid and complete other financial aid requirements. LTC offers Title IV federal and state financial aid which includes grants, loans, and work-study jobs to students who qualify. Students wishing to receive financial aid must complete a Free Application for Federal Student Aid (FAFSA) each academic year and complete additional LTC Financial Aid forms and provide documentation, as necessary. "The definition of an academic year for purposes of distributing financial aid funds is 30 weeks of instruction and 24 semester credit hours. The academic year consists of a fall term and a spring term. An 8-week summer term is also available.”
Book Charges
Book charges to purchase required books and supplies are available to students with pending financial aid in excess of tuition and fees for the semester. Book charges are only valid at the LTC Bookstore. Students are not required to purchase books and supplies at the LTC Bookstore and are not required to exercise the option to utilize the book charge process. Book charges are typically capped at $900 with special considerations occurring through the LTC Financial Aid Office. Book charges are available 3 weeks prior to the start of the term through the 10th week of the term.
Disbursement
Funds are paid 3 weeks into the academic semester for fall and spring, after July 1 for summer semester, and weekly thereafter. You must have begun participation in at least one of your scheduled classes for financial aid to be paid. When financial aid is paid, it is applied to your student account to pay for any existing charges. Any excess is released as a refund via a paper check or direct deposit as directed by the student.
Eligibility
Generally, a student must meet the following eligibility criteria to receive financial aid: be admitted to an eligible degree- seeking program at LTC; be a citizen, permanent resident of the United States, or other eligible non-citizen as detailed at fafsa.gov; have a FAFSA with a successful citizenship match (by the Social Security Administration for U.S. citizens or the United States Citizenship and Immigration Services in the Department of Homeland Security for eligible non-citizens); maintain Satisfactory Academic Progress (SAP) according to the SAP policy; be in compliance with Selective Service Registration; have a high school diploma, HSED, or GED; be enrolled at least halftime for federal and state funded financial aid programs (those less than halftime may only be eligible for the Federal Pell grant); resolve any drug conviction issues; fill out all required documents to complete a financial aid file; only take coursework necessary for the program being pursued; participate in coursework; and complete any necessary applicable loan requirements.
Enrollment Level for Financial Aid
Students taking 12 or more credits are considered fulltime; 9-11 credits are considered three-quarter time; 6-8 credits are considered halftime; and 1-5 credits are considered less than halftime. Students may need to complete 16 to 18 credits each semester to graduate on time.
Types of Financial Aid
Need-based awards offered include: Federal Pell Grant; Federal Supplemental Education Opportunity Grant (SEOG); Direct Subsidized Student Loan; Federal Work Study; Wisconsin Grant; Talent Incentive Program Grant (TIP); Minority Retention Grant; Fund for Wisconsin Scholars; Bureau of Indian Affairs Grant; Wisconsin Indian Assistance Grant.
Non-need-based awards offered include: Direct Unsubsidized Student Loan; Additional Unsubsidized Student Loan; Parent Plus Loan; Nursing Loans; Wisconsin Technical Excellence Scholarship; Wisconsin Covenant Grant; Wisconsin Foundation Grant; and Wisconsin Academic Excellence Scholarship.
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